mutual credit

Mutual credit is a system where participants in a community or network provide and receive goods or services without necessarily using money. Instead, they allocate mutual credit to each other based on agreed-upon values, creating a balanced exchange. When one person supplies something, their account gets credited, and when they receive, it gets debited. This system fosters cooperation and trust, enabling transactions to occur directly between members without relying on traditional currency. It encourages local economic activity, reduces dependence on cash, and helps organizations or communities support each other more efficiently.