Credit in its earliest form isn't financial but social. Credit is fundamental to money and therefore markets. Recently I read @davidgraeber's "Debt" and want draw some parallels to decentralised markets and crypto.

TL;DR: Graeber’s Debt predicted crypto’s arc. Bitcoin was the coinage revolt. DeFi is the merchant age reborn. @3janexyz and similar credit protocols arise out of need for growth. The ledger survives; only the input methods changed.

"It’s quite possible to turn honor into money, almost impossible to convert money into honor." The strange phenomenon of money can be easily explained when viewed from the POV of credit. Why is it necessary for a 3rd universal thing when we want to fulfill transactions between 2 parties. It is because strangers meeting for the first time (and unlikely to meet again) will not be able to agree on like-for-like exchange rates. Before we had global markets, way back in the early days of civilisation, this problem was solved by extending credits and relying on the honor of the debtor to repay.

How good your credit is with others is an important barometer for your social standing. There is utility in being seen as respectable among your peers, no matter how advanced the civilisation. Money is always a representation of that standing, it is the relative portrayal of worth and the encapsulating summary of who you are. But your credit and by extension your reputation, is what really matters.

3Jane is a credit money market on Ethereum. 3Jane provides unsecured, on-chain USDC credit lines to U.S.-based yield farmers, currently onboarding via whitelisted cohorts. Credit lines here are not consumer lending; they are working capital for proven crypto-native strategies.