Always search for prior art–because you always learn that some ideas have been done before, and sometimes, they can be improved upon.
Social Credit originated from the writings of C. H. Douglas, a British engineer and originator of the Social Credit movement, (1879–1952), who wrote a book by that name in 1924. Social Credit is described by Douglas as “the policy of a philosophy”; he called his philosophy “practical Christianity”. This philosophy is interdisciplinary in nature, encompassing the fields of economics, political science, history, accounting, and physics. Assuming the only safe place for power is in many hands, Social Credit is a distributive philosophy, and its policy is to disperse power to individuals. Social Credit philosophy is best summed by Douglas when he said, “Systems were made for men, and not men for systems, and the interest of man which is self-development, is above all systems, whether theological, political or economic.” [Introduction from WikiPedia]
However, Douglas’s “Social Credit” is more directed at consumers and their consumption directing production than the servicing of public goods and services as with social ξ credit. Social ξ credit is derived from individuals stating a residency within a region. If you have multiple-residencies, the amount of influence you have is proportionally measured and earned over time. That is to say, you cannot change your residences over and over again to get new social credit, which isn’t of much use anyway unless you actually live in those communities. What you spend social credit on is only on public goods and services within that community–for example, park maintenance, police, fire/rescue or other infrastructure. Social credit is also hierarchical–smaller communities spend only on their local needs, but are nested like Russian dolls into larger and larger concerns up until you reach the “global” level. The only way for social credit to be created is via the cooperation of the residents–if there is no cooperation, there is no money.
Individual ξ credit from each individual could in theory direct production through consumption should the individual totally avoid using it for purchasing private equity–but that’s for another blog post.