Getting started with your new coin

You need a trade group, share holders willing to pay the cycle price because collectively they have innovations to share fairly. Craiglist, for example, just create the home appliance coin. If you are looking for a particular used appliance over some period, then it behooves you to buy a few craigslist appliance coins, and put them on deposit. Same with sellers, willing to pay a small cycle fee. Both groups intent on participating in a flow of goods, some sequence of deliverable not yet seen. Then do all the prices in dollars, but pay in craiglist coins. Convert according to the current cycle price. Set the accumulated pit boss pile to bounce around zero.

In this case the interest paid in and out is a very powerful signal when appliances have  high signal to noise, this is more of an ongoing club.  But it has S&L, interest payments, no time.  

The ultimate advantage is the minimization of transportation costs. On craiglist this is local, and can be price by distance. A small outlier in a remote town knows the distance price, and can choose accordingly.  But, stepping outside the region, to the manufacturer, transportation costs go way up.

Wait, isn't this like a membership fee?

Yes, but that is OK because the bit error bounces around zero, it is non profit.  Your smart card knows that, so you touch the craiglist icon, nd the message reads,"Are you really interested in buying  local used or new applicance?" You say, sure, your card does the rest.  It is to your advantage, a computable advantage for your card to sign up for the craiglist S&L, it expands your choices.  The light will be green on this, trust me, I have recent experience.

Let's apply some semantics

Is this 100% backed? No. What is the redeemable? Access to an organized flow of appliances in your region, at lower transportation costs.  Anywhere you can guarantee a better probability that some goodie arrives at some thumbprint, you are gonna be  successful.