IOU Ecosystem

IOU CHARTER PRINCIPLES OF TRADE : Declaration of free exchange 1) Everyone has the same rights. No one has any more or fewer rights than anyone else. 2) All parties are free to exchange their goods and services, on a voluntary basis, in good faith, where one receives only that which they gives in exchange as per mutual agreement. 3) Tokenized promissory notes can be issued by any party, anytime, anywhere and as per agreement be used as payment and exchange of value. Issuers can create their own IOU, tokenized promissory notes, backed by value; goods or services. 4) Tokenized promissory notes, IOU, will include the full legal name of issuer, date of issuance, serial number, detailed description of what the collateral is, location, and other pertinent information unique to said exchange. 5) IOUs do not charge interest and have no specified payback date. 6) IOUs act as a debt-free value-backed currency giving anyone who holds the promissory note the right to trade or redeem it for value; the agreed upon goods and services. 7) Issued IOU, promissory notes, are solely under the control of the issuer and holder of said instrument. 8) Issurer is unequivically obligated to expeditiously, as per terms of note, execute IOU. 9) Issuers performance is rated by the IOU holders. These ratings are available and visible for the community to use for future transactions. 10) The IOU Charter may be ammended for the betterment and protection of the community.