Cosmos Founder Introduces ‘Cycles’ to Revolutionize Debt Clearing—No Banks Needed

TL;DR Cycles is a proposal from Informal Systems for a decentralized clearing system, led by Ethan Buchman, co-founder of Cosmos. The system aims to eliminate traditional intermediaries (such as banks) and allow any user to participate in a blockchain-based multilateral settlement process. The launch is scheduled for 2025, with challenges such as integration with traditional ... source: https://crypto-economy.com/cosmos-founder-introduces-cycles-to-revolutionize-debt-clearing-no-banks-needed/