I have made brief mention before about the keeping of - not a credit record but rather of a "credibility" record in a mutual credit monetary system.

This conclusion was based on previous writing from Todd Boyle and Robert Hettinga who made observations on reputation records.

The combination of reputation recording (the credibility index) plus the use of performance bonding in the form of precious metal deposits keep monetary communications in truth.

[link to profitseekingdaily.com]

This piece about the resignation of Greg Smith from Goldman Sachs gives further credence to the concept.

The earlier version of ebay auction site displayed similar conclusions.

"In commerce, truth is of the essence" and reputation records keep the issuer of promises honest.