Knights Templar Letters of Credit System – A Mitigating risks in the near-future dystopian world?

The Knights Templar, a medieval Christian military order, introduced the Letters of Credit system in the early 12th century.

The system offered secure funds storage through Templar commanderies across Europe and the Holy Land.

Letters of Credit were portable and transferable, reducing the risk of theft during travel.

Templars supported multi-currency transactions, facilitating international trade.

The Knights Templar’s reputation for honesty and integrity enhanced the credibility of their financial system.

Beneficiaries were protected in case of letter loss or theft during travel.

To access the system, individuals had to become Templar associates and make a deposit.

The Knights Templar issued letters of credit, specifying the deposited amount and signed by high-ranking officials.

Pilgrims and merchants could use the letters for trade and exchange upon reaching their destinations.

The Knights Templar’s Letters of Credit system had a lasting impact on modern banking but with the emphasis on trust and secure transactions.

Global currency will fail when the lights go out. Some parts of the planet do not have access to power and technology.

Perhaps it would be a good time to revisit history and see what lessons can be learned from it?