Redefine Human Collaboration

Redefine
Human
Collaboration

PHOTO: NATALIA JIDOVANU, CC Bloomberg, permission request in process

What is a Community Currency?

To understand community currencies, we must reconsider much of what we have been taught about money. Our core belief is that money is a tool that allows us to collaborate based on our values and needs. We envision community currencies as supplementary currencies to national or fiat currencies, and are designed to allow for increased collaboration within communities based on shared needs, interests, and values.

Why Do We Believe in Community Currencies?

We have created a world of abundance, yet many still live in scarcity. This paradox usually exists not because of a lack of resources in a given community, but rather because limitations on the community’s money supply. A community currency on the blockchain redefines money as a record-keeping tool and a shared ledger. We believe that for each community, a supplementary community currency is a tool that enables us to (literally) expand the money supply, and therefore, increase collaboration and wealth creation.

Bancor: A Global Network of Local Economies

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Community Platform

The Bancor Protocol is an open-source and decentralized protocol powering community currency networks in impoverished regions across the globe. The protocol ensures convertibility and liquidity for community currencies without needing a counterparty or an intermediary. This means local commerce can be autonomously and securely processed on the blockchain without having to rely on a central authority like a bank or telecom to maintain the integrity of the network.

Bancor has created a platform that enables communities to launch, manage, grow, and analyze community currencies. Working with select partners, our goal is to further the research, data, and adoption of community currency models. We believe blockchain technology such as ours is a key building block in making financial inclusion and wealth creation a reality.

Flagship Pilot

Grassroots Economics, Kenya

PHOTO: NATALIA JIDOVANU, CC Bloomberg, permission request in process

About

Grassroots Economics is a Kenyan-based NGO that has worked in the field of community currencies since 2010 leading experiments in paper currencies.
Beginning in 2017, Bancor and Grassroots teamed up to digitize Grassroot’s different Sarafu currencies via the blockchain, with the goal of expanding the research project and testing new community currency models. Today, the partnership has launched over 9 different digital community currencies experimenting with varied geographies, token, and go-to-market models.

The Initial Results Have Been Gratifying

Digitizing community currencies has increased adoption and produced unprecedented data and insights on how community currencies drive monetary expansion and wealth creation.

International Recognition

Bancor & Grassroots have been recognized by the United Nations and The Red Cross for their community currency work in villages across Kenya. Thousands of community members currently use Bancor-powered tokens to pay for basic needs, such as water, housing, transportation and food – generating economic and sustainability data that is now being used by government agencies and leading universities around the world.

Are you an NGO interested in leading a Community Currency Pilot?

Educational Resources

Bernard Lietaer’s Money Diversity

Bernard Lietaer argues that the monoculture of money is what creates economic instability, leading to liquidity crises.

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Schumacher Center

The Schumacher Center for a New Economics is a tax exempt nonprofit organization based in Great Barrington, Massachusetts.

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Bernard Lietaer’s website

Currency Solutions for a Wiser World

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Sacred Economics by Charles Eisenstein

Sacred Economics traces the history of money from ancient gift economies to modern capitalism, revealing how the money system has contributed to alienation, competition, and scarcity, destroyed community, and necessitated endless growth.

Get the book