It's not a currency.  It's an anonymous banking system, or more precisely an asset exchange service.

It's very interesting, though.  I could use that for my brokerage project.

PS.  I've ust read the FAQ.  It's pretty cool.  I don't like the centralized aspect, though.

I think it would be a good candidate for an other implementation of bitcoin concepts.  Basically it would be the same service as Loom, but it would work in a decentralised manner, using bitcoin's time server.

This could be neat, but it has to be more thought through.

PS#2.  Hum, it's open source !  This is good, for it means anyone can run his own loom server.  This makes decentralisation not necessary.