Brunswick on Nostr: We currently have a complete system that can replace our existing banking system and ...

We currently have a complete system that can replace our existing banking system and restore it to what we used to have under free banking. eCash can be issued by mints, and loans can be issued in forms of eCash, where fractional reserves could theoretically be held by the mints with the difference backed by loans. The mints would guarantee redemption based on the statistical likelihood of collecting on the loans combined with its reserve ratio. The Lightning Network would act as a instantaneous clearinghouse between mints. The Bitcoin blockchain would be used for settling large payments between banks and for individuals or institutions to hold long-term reserves.