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So, there is some fuzz over at cryptoleftists about . ( joincircles.net/ )

The TL;DR is as follows:

It is implemented on top of another cryptocurrency with smart contracts. (Not really familiar with this, taking it as a cons.)
Uses a WoT for both issuance (must be verified by three existing members to join like ) and settlement (payment can only be done by chaining trust, like / ripple.ryanfugger.com/ )
Seems to be a good starting point against sybil/fake ids attacks.

Since credit is limited by trust, there is an incentive to balance income and expenditure like a credit-based / plus the UBI means it could be non-deflationary and incentivize usage rather than savings as in facilitate economic transactions while being an token.

Thoughts?

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