Marmara Credit Loops (MCL) vs Credit Cards
| Aspect | Marmara Credit Loops | Credit Cards |
|---|---|---|
| Purpose | Facilitate goods and services transactions | Facilitate goods, services, and cash transactions |
| Interest/Usury | No interest or usury involved | Interest charged on outstanding balances |
| Credit Issuance | Issued by individuals or businesses | Issued by financial institutions |
| Collateral | Partial collateral required from participants | No collateral required (unsecured) |
| Transaction fees | Low or minimal fees | Fees for merchants and sometimes for users |
| Trust Mechanism | Three-layer protection mechanism | Credit score and credit history |
| Credit Circulation | Endorsement and transfer within the credit loop | Limited to the cardholder and merchant |
| Security | Secured by blockchain technology | Secured by banking systems and payment networks |
| Currency | MCL coins (cryptocurrency) | Fiat currency (e.g., USD, EUR) |
| Consensus Mechanism | Hybrid PoW and PoS | N/A (Centralized) |
| Redemption Mechanism | Escrow and blockchain funds | Card issuer and payment networks |
This table provides a comparison between the Marmara Credit Loops and credit cards across various aspects, including their purpose, interest, issuance, collateral requirements, fees, trust mechanisms, circulation, security, currency, and consensus mechanisms. Keep in mind that MCL is based on blockchain technology and uses its own cryptocurrency (MCL coins), whereas credit cards are based on traditional banking systems and use fiat currency.