"Sardex, an Italian fintech, created a mutual credit system where businesses exchange goods and services without cash.
This trust-based network has strengthened the local economy and inspired similar models across Italy."
📰 https://positivenewsfoundation.org/video/italys-fintech-innovation-transforming-business-with-sardex/ 📺 https://youtu.be/eeB2tsS6xpM
it was all over italy according to the video but it is fishy
not sure how this aspiration for Circular Economy can only be satisfied by this new system. the usual dodgy comparisons to regular currencies were slipped in the video too. blockchainy things are notoriously easy to trace so not sure if it could be used for money laundering.
seems more like a trade group than a significant fintech endeavour but it’s been going for almost 15 years so they’ve kept under the authorities radar so far