A total of 46 currency networks are deployed on the Trustlines Blockchain and are now ready for use.
A trustline is a mutual credit line or credit facility established between two people who trust each other. Credit provided across a trustline may be in a denomination of any unit of account. The purpose of different currency networks is to let people choose their preferred denomination for recording transactions. Currency networks are shared platforms and are not controlled by a single party. While anyone could create their own, the Trustlines Foundation has deployed 46 initial currency networks for anyone to use.
While the word “currency” often refers to fiat currencies, the term is used in this context to indicate any unit of value. For example, denominations like “beers,” “work hours,” or “ETH” are as valid as “euros” or “dollars.” Each standalone network uses a smart contract on the Trustlines Blockchain for tamper-proof accounting of the credit granted between users in a trustline.
Read the full blog post at https://blog.trustlines.network/currency-networks-on-trustlines/