What an intriguing and imaginative set of lyrics! It seems like you're drawing inspiration from various concepts to create a unique narrative. Here's a breakdown of each line, along with some possible interpretations:

1. **"Frictionless rule based value transfer based on voluntary agreements among capable contractees"**

This line could be referencing a decentralized, blockchain-based system where values are transferred smoothly without intermediaries (frictionless). It implies a world where capable individuals voluntarily agree to contracts, ensuring efficient and secure transactions.

2. **"Forcing obsolescence of insurance and your bank"**

In this context, the phrase "forcing obsolescence" might suggest replacing traditional institutions like insurance companies and banks with more innovative, digital solutions. This could be a nod to decentralized finance (DeFi) or peer-to-peer lending platforms that bypass traditional financial intermediaries.

3. **"Creating a reputation based social safety net (a real one)"**

Here, you're proposing an alternative to traditional welfare systems. By leveraging reputational mechanisms and community-driven incentives, individuals might earn a "real" social safety net without relying on government-provided benefits.

4. **"Rating your chains and then eating them"**

This line could be interpreted as a metaphor for embracing personal freedom and breaking free from restrictive systems or obligations (your "chains"). The act of rating these constraints implies a critical evaluation, followed by the empowerment to overcome them.