Democratisation of a technology is where access to the technology becomes accessible to most people. Money is a technology. Increased access to money will increase economic activity. This can lead to increased wealth creation.

The cost of producing electronic tokens to use as money is zero. We introduce restrictions on token creation by giving money tokens a value. The way we do this is by charging interest on interest. This puts a restriction on money because we only allow people owning assets, including money tokens, to create money through loans.

This restriction creates a money system that has strong connections. The value of money in one area influences the value of money in another area. This happens even if there is no change in the value of assets that money represents.

Systems with strong connections are difficult to control. To control the value of money we introduce money markets. Money markets prove to be unstable and uncontrollable. Recessions, depressions, asset price inflation, uneven distribution of wealth are all symptoms of an uncontrolled money market. Central Banks attempt to control money markets by setting a target inflation rate. This is an attempt to control the increase in money caused by interest on interest.

Promise Theory says that systems with many strong connections become expensive to control. It says that better control happens if we have systems with weak connections. For money this means going away from the Central Bank control of interest rates. It means a system with zero inflation.

One way to achieve this goal is to remove the value of money tokens. We stop trying to control the creation of money tokens through a price on money tokens. Instead we control by controlling the creation of things that money represents. We can control these through market mechanisms.

But, we already do this. All we need to do is to make money tokens themselves zero value. We do this by removing interest on interest. We do this by changing the way we repay loans. Instead of paying back interest first we pay back the capital value first. This removes interest on interest. We control the effect of inflation by increasing the value of loans with inflation.

We control inflation by controlling the creation of new money tokens. New money tokens are only used to create new community assets with real value. Such things are community infrastructure such as renewable energy and education. We democratise money by giving these new money tokens equally to everyone in the population.

We change the system loan by loan, central bank by central bank. We let the two systems operate in tandem. Loans without interest on interest are lower cost hence they will replace existing loans.

By consciously democratising money we will increase economic value and this will lead to a cooperative society.  We set goals for society such as a stable climate system and equal access to education for all.  We increase our money tokens to achieve these goals.

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