What is Loom?
Loom is a system that enables people to transfer ownership of any kind of asset privately and at will.
For example, a reputable individual can store gold in a vault and create a brand new digital asset redeemable for that physical gold. People who know and trust that digital asset can add it to their Loom wallets and pay it around however they like.
Gold is just one example. Imagine digital assets directly redeemable for cash, silver, coffee, oil, copper, electricity, lumber, hours of professional service, rewards — the possibilities are endless!
How do I sign up?
First, you should know that using the Loom system is not free. To use Loom, you must have an asset called usage tokens. Loom charges usage tokens when you store information, and refunds usage tokens when you delete information.
So before you can sign up and create a Loom wallet, you need to get an invitation code, which is a location that contains enough usage tokens for you to get started.
Where do I get an invitation?
If you know someone who already uses Loom, you can ask them for an invitation.