We Build the Digital Infrastructure for Trust-Based Money
TrustyCity is developing the software and cryptographic infrastructure needed to implement the Trust Theory of Money (TTM) — a complete, digital realization of the Credit Theory of Money (CTM) that grounds monetary value in verifiable, checkpoint-based trust rather than government fiat or artificial scarcity.
The Problem We Address
Modern Money Theory (MMT) — the framework underlying today's central banking — partially incorporates the Credit Theory of Money. Credit cards and credit scores exist precisely because of this. Yet fiat money is treated as though governments deserve unconditional trust, with no mechanism to hold them accountable in the way individuals are held accountable through credit scoring.
This inconsistency creates structural fragility. Bureaucratic systems are vulnerable to Goodhart's Law: when a measure becomes a target, it ceases to be a good measure. Certificates and credentials are gamed. Institutional trust is assumed rather than earned. And in the absence of genuine accountability, hype cycles flourish — rewarding the architects of speculative bubbles while ordinary people bear the costs.
Cryptocurrencies attempted a fix, but discarded the wrong thing. By replacing trust with scarcity, they abandoned the Credit Theory of Money entirely. After more than a decade of use, crypto has quietly reintroduced trust — placing it covertly in miners and whales — while claiming to be trustless.
TTM identifies what was always missing from CTM: a mechanism for trust. The scarcity principle does not disappear under TTM; it re-emerges from confidence in the issuer's ability to keep their debt valuable. And trust, unlike gold, can be measured continuously, updated at checkpoints, and made resistant to manipulation.
Our Approach
TrustyCity builds the software layer that makes TTM real and usable.
Checkpoint-Based Trust Infrastructure
Rather than bureaucratic certificates — which are targets people game — we build systems that gather trust data continuously at checkpoints, embedded in the natural flow of economic activity. This mirrors how credit scores already work, extended to the issuance of money itself.
Privacy-Preserving Cryptographic Transactions
Our transaction algorithm enforces the privacy principle: all parties to a transaction are publicly identified, but only the buyer and seller know the transaction amount. This mirrors paying in cash at a store. The construction uses modular arithmetic with homomorphic properties, is more secure than RSA, and is not vulnerable to quantum decryption attacks.
Genuinely Decentralized Currency
Under TTM, any individual or institution with a credible track record can issue a spendable digital check — a currency backed by their pledge to redeem it. There is no single protocol, no single ledger, and no single point of control. This supports a genuinely free market, where value is distributed across bilateral trust relationships.
Non-Intrusive Integration
TTM infrastructure integrates with existing financial systems:
- B2B libraries and APIs for banks and credit bureaus
- B2C mobile applications for trust data analysis
- Compatible with existing legal frameworks for pledge agreements
- No requirement to abandon or replace current monetary infrastructure
Company Overview
Founded by Hadi Lashkari Ghouchani, TrustyCity was built on the conviction that the Credit Theory of Money is correct — and that its missing ingredient is a robust, digital trust mechanism.
Monetary Theory
Our work is grounded in the scholarship of Alfred Mitchell-Innes, L. Randall Wray, David Graeber, and the broader tradition of credit money theory, extended with an original contribution: the formal specification of trust as a measurable, checkpoint-based quantity.
Cryptography & Security
The TTM transaction algorithm uses modular exponentiation and the extended Euclidean algorithm to enable privacy-preserving, publicly verifiable transactions. The security design deliberately avoids the need for decryption, making it inherently more resistant to both classical and quantum attacks than RSA-based systems.
Operational Philosophy
We believe the person building the infrastructure for your trust system should themselves be trustworthy. That means publishing our research openly, claiming implementation rights transparently, and building in public — because accountability is not optional in a system whose purpose is to make accountability the basis of value.
Looking Forward
TrustyCity's long-term aspiration is a society in which ideas can be published freely and openly without the risk of losing attribution — which is itself one of the ultimate goals of implementing TTM. When trust is the basis of value, the people who produce genuine intellectual work are rewarded, and the people who exploit hype are not.
Research & Development
Active research areas include:
- Checkpoint Trust Scoring: Extending credit-score-style continuous evaluation to monetary issuance
- TTM Algorithm Implementation: Full software stack for wallet management, transaction processing, and verification
- Institutional Integration: APIs enabling banks and credit bureaus to participate in the TTM ecosystem
- Legal Framework Compatibility: Ensuring pledge agreements can be legally formalized under existing jurisdictions
Partnership Philosophy
At TrustyCity, we build long-term collaborations with institutions and individuals who are serious about fixing the structural problems in the current monetary system — not through radical replacement, but through principled extension.
How We Work With Partners
- Collaborative Development: Co-creating integrations that work within your existing operational context
- Knowledge Transfer: Building shared understanding of TTM alongside technical deployment
- Transparent Roadmap: Our research and implementation timeline is published openly
- Aligned Incentives: We succeed when trust-based money works — not before