Community currency

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A community currency is a type of complementary currency that is used by groups with a common bond, like members of a locality, or association, and designed to meet their needs. A community currency may be geography-based, making it a type of local currency, or it may be used within a business-based, or online community.

Contents

Purposes

Community currencies aim at using money as a tool to achieve social or environmental objectives. According to the New Economics Foundation partner Community Currencies in Action: [1]

... money is simply a social technology and the ways in which it is designed, produced and controlled – far from being neutral or predetermined factors – all influence the effects it has upon society at large.

People Powered Money: designing, developing and delivering community currencies.

Some of the purposes for community currencies identified by Community Currencies in Action [1] include:

Software

Several software packages have been written supporting the management of community currencies. [5] In 1998, Richard Kay, a senior lecturer at Birmingham City University, [6] wrote a "Multi-registry System" specification for routing and processing community currency transactions using an approach designed to be decentralized, with no single point of control or failure, using the Domain Name System for server discovery. [7]

List of local currencies

See also

Related Research Articles

In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses. The currency may not be backed by a national government or be legal tender in the UK. About 300 complementary currencies, including local currencies, are listed in the Complementary Currency Resource Center worldwide database.

A local exchange trading system is a locally initiated, democratically organised, not-for-profit community enterprise that provides a community information service and records transactions of members exchanging goods and services by using locally created currency. LETS allow people to negotiate the value of their own hours or services, and to keep wealth in the locality where it is created.

Internationalization and localization Process of making software accessible to people in different areas of the world

In computing, internationalization and localization (AmE) or internationalisation and localisation (BrE) are means of adapting computer software to different languages, regional peculiarities and technical requirements of a target locale. Internationalization is the process of designing a software application so that it can be adapted to various languages and regions without engineering changes. Localization is the process of adapting internationalized software for a specific region or language by translating text and adding locale-specific components. Localization uses the infrastructure or flexibility provided by internationalization.

Monetary reform

Monetary reform is any movement or theory that proposes a system of supplying money and financing the economy that is different from the current system.

In economics, a time-based currency is an alternative currency or exchange system where the unit of account is the person-hour or some other time unit. Some time-based currencies value everyone's contributions equally: one hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer. Others use time units that might be fractions of an hour. While most time-based exchange systems are service exchanges in that most exchange involves the provision of services that can be measured in a time unit, it is also possible to exchange goods by 'pricing' them in terms of the average national hourly wage rate.

Technical support service of resolving technical problems for end users of an organizations products or services, often remotely

Technical support refers to services that entities provide to users of technology products or services. In general, technical support provide help regarding specific problems with a product or service, rather than providing training, provision or customization of product, or other support services. Most companies offer technical support for the services or products they sell, either included in the cost or for an additional fee. Technical support may be delivered over by phone, e-mail, live support software on a website, or other tool where users can log an incident. Larger organizations frequently have internal technical support available to their staff for computer-related problems. The Internet can also be a good source for freely available tech support, where experienced users help users find solutions to their problems. In addition, some fee-based service companies charge for premium technical support services.

Participatory design is an approach to design attempting to actively involve all stakeholders in the design process to help ensure the result meets their needs and is usable. Participatory design is an approach which is focused on processes and procedures of design and is not a design style. The term is used in a variety of fields e.g. software design, urban design, architecture, landscape architecture, product design, sustainability, graphic design, planning, and even medicine as a way of creating environments that are more responsive and appropriate to their inhabitants' and users' cultural, emotional, spiritual and practical needs. It is one approach to placemaking.

A complementary currency is a currency or medium of exchange that is not necessarily a national currency, but that is thought of as supplementing or complementing national currencies. Complementary currencies are usually not legal tender and their use is based on agreement between the parties exchanging the currency. According to Jérôme Blanc of Laboratoire d'Économie de la Firme et des Institutions, complementary currencies aim to protect, stimulate or orientate the economy. They may also be used to advance particular social, environmental, or political goals.

Computer-supported collaboration research focuses on technology that affects groups, organizations, communities and societies, e.g., voice mail and text chat. It grew from cooperative work study of supporting people's work activities and working relationships. As net technology increasingly supported a wide range of recreational and social activities, consumer markets expanded the user base, enabling more and more people to connect online to create what researchers have called a computer supported cooperative work, which includes "all contexts in which technology is used to mediate human activities such as communication, coordination, cooperation, competition, entertainment, games, art, and music".

Rogue security software is a form of malicious software and internet fraud that misleads users into believing there is a virus on their computer and aims to convince them to pay for a fake malware removal tool that actually installs malware on their computer. It is a form of scareware that manipulates users through fear, and a form of ransomware. Rogue security software has been a serious security threat in desktop computing since 2008. Two of the earliest examples to gain infamy were BraveSentry and SpySheriff.

A solidarity economy is a method for naming and conceptualizing transformative monetary qualities, practices, and foundations that exist in the U.S. and everywhere throughout the world. These incorporate, yet are not constrained to, egalitarian and participatory monetary conduct by people, laborers, and makers, for example, by a person who is a moral shopper, specialist, and additionally financial specialist, or by a specialist co-op, reasonable exchange business, or dynamic association. It is an economic formation which seeks to improve the quality of life of a region or community on the basis of solidarity, often through local business and not-for-profit endeavors. It mainly consists of activities organized to address and transform exploitation under capitalist economics and the large-corporation, large-shareholder-dominated economy and can include diverse activities. For some, it refers to a set of strategies and a struggle aimed at the abolition of capitalism and the social relations that it supports and encourages; for others, it names strategies for "humanizing" the capitalist economy—seeking to supplement capitalist globalization with community-based "social safety nets".

Emissions Reduction Currency Systems (ERCS) are schemes that provide a positive economic and or social reward for reductions in greenhouse gas emissions, either through distribution or redistribution of national currency or through the publishing of coupons, reward points, local currency, or complementary currency.

Reducing emissions from deforestation and forest degradation

Reducing emissions from deforestation and forest degradation and the role of conservation, sustainable management of forests and enhancement of forest carbon stocks in developing countries (REDD+) was first negotiated under the United Nations Framework Convention on Climate Change (UNFCCC) in 2005, with the objective of mitigating climate change through reducing net emissions of greenhouse gases through enhanced forest management in developing countries. Most of the key REDD+ decisions were completed by 2013, with the final pieces of the rulebook finished in 2015.

A sustainability organization is (1) an organized group of people that aims to advance sustainability and/or (2) those actions of organizing something sustainably. Unlike many business organizations, sustainability organizations are not limited to implementing sustainability strategies which provide them with economic and cultural benefits attained through environmental responsibility. For sustainability organizations, sustainability can also be an end in itself without further justifications.

The Community Exchange System (CES) is an internet-based global trading network which allows participants to buy and sell goods and services without using a national currency. It may be described as a type of local exchange trading system (LETS) network based on free software. While it can be used as an alternative to traditional currencies such as the Australian dollar or Euro or South African rand, the Community Exchange System is a complementary currency in the sense that it functions alongside established currencies.

Bristol Pound

The Bristol Pound (£B) is a form of local, complementary, and/or community currency launched in Bristol, UK on 19 September 2012. Its objective is to encourage people to spend their money with local, independent businesses in Bristol and the former County of Avon. As of September 2012, it is the largest alternative in the UK to official sterling currency, though it is backed by Sterling.

A moneyless economy or non-monetary economy is a system for the allocation of goods and services as well as for the assignment of work without payment of money. The simplest example is the family household, which can be a system of obligations nevertheless.

Behavioural design

Behavioural design is a sub-category of design, which is concerned with how design can shape, or be used to influence human behaviour. All approaches of design for behaviour change acknowledge that artefacts have an important influence on human behaviour and/or behavioural decisions. They strongly draw on theories of behavioural change, including the division into personal, behavioural, and environmental characteristics as drivers for behaviour change. Areas in which design for behaviour change has been most commonly applied include health and wellbeing, sustainability, safety and social context, as well as crime prevention.

The Papua New Guinea Greens Party or PNG Greens are a minor political party in Papua New Guinea. Founded in 2001, the party took part in the 2002, 2007 and 2012 general elections, without winning a seat. They are a member of the Global Greens and of the Asia Pacific Greens Federation.

Sarafu-Credit is a community currency system operated in Kenya. It is used by five different communities, all located in informal settlements or slum areas, including small businesses and schools.

References

  1. 1 2 3 4 "People Powered Money: designing, developing and delivering community currencies". Community Currencies in Action. Retrieved 31 July 2020.
  2. "Community Currencies in Action: SoNantes".
  3. "TradeQoin is a network of entrepreneurs". Archived from the original on 2017-02-11. Retrieved 2017-02-10.
  4. "We Create Meaningful Change In Communities". www.justaddspice.org.
  5. "Comparison Matrix of Community Currency Software"./
  6. "Richard Kay".
  7. "Multi-Registry System".