It isn't really asset based either. We are just selective about who gets credit and how much.

The money is created by giving some accounts the ability to carry negative balances.

The database is hosted on our nonprofit site and backed up daily. If it got corrupted we'd go to our most recent backup.

The system is all digital and you can pay via mobile or desktop through the site.

Is there a way to take money out of circulation in a blockchain system?

On a totally different note, would you like to share about what you would like to be able to purchase using SMD in the comments here: https://steemit.com/steemit/@nathanbrown/whales-what-do-you-want-to-buy-with-your-smd