This idea is largely inspired by the late lamented Ripple Project.
I think I should start just by explaining the original "Ripple" concept, which is kind of the engine at the core.
The basic idea is that we want to minimize movements of actual/traditional money, especially where that is difficult (typically due to geographical obstacles). We also want to minimize interaction with (and hence dependency on) the traditional banking system, for reasons that are numerous and largely obvious.
Borrowing an example from the Classic RipplePay site, Let's say
Bob now needs that $10 back. Traditionally,
Alice would have to pay Bob back directly before
Bob could use that money to buy something.
Now, let's say that what
Bob needs is to buy something that
Cindy can provide for $10 (that
Bob doesn't currently have). Let's also say that
Alice and trusts her to repay the $10.
Instead of waiting for
Bob could simply use ownership of that debt as payment to
writing in progress