Comment on page
What is "decentralized issuance?"
The limitation of currency issuance to specific, centralised institutions creates well know problems. Unilateral control over the creation of money has contributed to market crashes, asset bubbles and currency crises throughout history.
Decentralisation of currency issuance represents a democratisation of value creation, in effect distributing the function of issuance from a few parties to a vast portfolio of cooperating entities. In the Vow economy, centralised control is replaced by decentralised governance.
In the case of Voucher Currencies, issuance is undertaken by smart contracts and distribution is undertaken by a vast network of businesses, merchants or institutional issuers such as governments. Each distributes a portion of total circulating supply and each backs their own distribution proportionally by a "vow" of re-acceptance..