A Mutual Credit ERC20 — CIP for Celo

The ERC20 specification permanently altered landscape of cryptocurrency by making token creation easy and accessible to anyone with a basic knowledge of smart contract development. This proposal seeks to be the ERC20 of mutual credit.

Our CIP provides a mutual credit protocol and reference smart contract for any project on Celo to be able to use. It will allow a token system that implements ERC20 but behaves and is issued as a mutual credit currency. See our pull request to Celo here.

First, what is Mutual Credit:

Mutual Credit is a multilateral…