The New York Inclusive Value Ledger: A Peer-to-Peer Savings & Payments Platform for an All-Embracing and Dynamic State Economy

Abstract

Many units of government see a need for more inclusive money, payment, and retail banking systems for the generation, accumulation, and free transfer of spendable value among their constituents. This document sketches a smart-device-accessible peer-to-peer (‘P2P’) savings and payments platform – the ‘New York Inclusive Value Ledger’ – which, thanks to new digital technologies, can easily be instituted and administered by any unit of government in the State of New York that wishes to supply this critical productive, commercial and financial infrastructure to all of its constituents. The resulting ‘Public Venmo’ will enable the monetization, hence the production, saving, and spending, of far more value than the state’s economy allows at present. Inclusive monetization will combine with inclusive economic participation to generate the most dynamic state economy New York has ever known.

Keywords: Banking, Blockchain, Complementary Currencies, Crypto-Currency, Currency, Digital Currency, Distributed Ledger, Financial Inclusion, Fintech, Money, Payment Systems, Payments, Platforms, Payment Platforms, Unbanked, Value