Alternative currency An alternative currency (or private currency) is any currency used as an alternative to the dominant national or multinational currency systems (usually referred to as national or fiat money). They are created by an individual, corporation, or organization, they can be created by national, state, or local governments, or they can arise naturally as people begin to use a certain commodity as a currency. Mutual credit is a form of alternative currency, and thus any form of lending that does not go through the banking system can be considered a form of alternative currency. When used in combination with or when designed to work in combination with national or multinational fiat currencies they can be referred to as complementary currency. Barters are another type of alternative currency. Often there are issues related to paying tax. List of alternative currencies Advantages Alternative currencies are reported to work as a counterbalance for the local economy. Disadvantages
LETSystems - the Home Page Bitcoin and ethics Recently I have been following and participating in some political discussions on IRC and the Bitcoin forums. What has impressed me is the diversity of political opinions expressed in relation to Bitcoin. In one discussion you can find a person defending libertarian islands, while in another someone else is espousing the virtues of socialism. What seems abundantly clear to me is that Bitcoin is not a political movement. Long ago anthropologists noticed that there was a big difference between what people say about what they do and what people actually do (the classic reference here is Malinowski, but I would also cite a much more recent discussion in Ferguson). When you ask someone why they use Bitcoin, for example, they will likely give you an explanation that will tell you about their political views or personal values. So what is the Bitcoin ethic? These features, and others that I have not mentioned, form the ethics of Bitcoin. Photo credits: flickr aimeefleck and keep_bitcoin_real
Créer des monnaies par millions Et si on essayait ? Les crédits mutuels, systèmes d'échange local, SOL (abréviation de solidaire), devises régionales, ou encore bons de réduction se multiplient (2/6). LE MONDE | • Mis à jour le | Par Hervé Kempf Ne dites pas à Roland Canonica qu'il contribue à changer le monde, il croit qu'il est banquier... Et c'est d'un ton placide, avec un bel accent helvète de Neuchâtel, qu'il explique au journaliste français étonné que la Banque Wir existe depuis 1934, et que, oui, elle gère sa propre monnaie, et que, ma foi, ça marche bien : 60 000 entreprises participent au système. Si M. Elle est née en Suisse en 1934, au coeur de la crise économique, de l'union d'une quinzaine de petites entreprises : celles-ci voulaient pouvoir s'échanger leurs produits, alors même que, faute d'argent, le commerce était au point mort. Comment cela fonctionne-t-il ? Le système a fait ses preuves, de nombreuses autres entreprises s'y sont agrégées, l'organe de comptabilité a obtenu le statut bancaire.
GiftPunk: A Twitter Tool for Giftcasting Recently I’ve been thinking about communities, and how to build them. Communities are in some sense defined by the flow of gifts, rather than market-based transactions. Perhaps the kinds of behaviour encouraged by the market is one of the reasons communities have been in decline in recent history. As one person put it to me recently, “community building is a truly 21st century problem.” If gifts define community, it might be because they encourage feelings of generosity and gratitude, and hence bonds of kinship. After experimenting with #PunkMoney, a promise currency based on Twitter, I’ve been exploring how Twitter can be adapted and repurposed to do new, unexpected things. How it works A community sets up a central account, for example @OccupyLondonGifts. For example, if Alice wanted to offer legal advice, she could tweet: @OccupyLondonGifts I offer an hour of legal advice. – Alice GiftPunk can find Alice’s tweet, interpret it and tweet through the community account: – @OccupyLondonGifts
New Currency Frontiers In One Month, Everyone In Iceland Will Own Cryptocurrency The cryptocurrency craze spun into a new realm of ridiculous with Kanyecoin, Dogecoin, Ron Paul Coin and the bounty of other clone-coins that sprung up to ride the Bitcoin wave. But the latest altcoin to enter the market, Auroracoin, wants to take the futurist trend back to its cryptoanarchist roots. The altcoin was designed specifically for Iceland, and the creator plans to give every citizen of the Nordic country a digital handful of Auroracoins to kickstart their use. Auroracoin is the brainchild of cryptocurrency enthusiast Baldur Friggjar Odinsson, and he'll be the one distributing pre-mined coins to the entire population of Iceland at midnight on March 25 in a countrywide "airdrop." "So I intend to leverage this system so everyone has a chance to verify their ID and get their share of Auroracoins. Why would someone want to give away over 10 million digital coins? Iceland's new 10,000 ISK bill is worth about $85, according to the Central Bank. So can it work?
Michel Bauwens: A peer-to-peer economy This interview is part of an exclusive series Paper.li is doing with the CulturaDigital.Br festival in Rio. Paper.li is CulturaDigital.Br’s media partner and is bringing our community a taste of the keynote speakers’ talks ahead of the event. Peer-to-peer originated in technology… but can it help transform society? Michel Bauwens, leading P2P advocate, tells Paper.li that Yes, it can. Michel Bauwens is an academic, former dotcom entrepreneur and information management pioneer who coined the idea of the ‘cybrarian’. These days, he is pretty prominent as founder of the Foundation for P2P Alternatives, which works with global researchers to study peer to peer trends with the aim of proposing strategies for political and social change. Above all, it’s a relational dynamic in which people exchange not with each other as individuals, but with a commons. Models born from accepting shared innovation commons, limiting intellectual property rents and monopolies. There are two ways to get involved.
Metacurrency Collabathon: a wealth system After Sibos, Q4 is usually the period of the year when I try to re-boot, to refresh my sources, to be a sponge and take-in new knowledge. It’s when I start painting for the next year. When the themes and trends for next year start emerging. I wanted to get a much better feel for what this world of alternative and complementary currencies was all about, and decided to join a week-end “Collabathon” organized by Art Brock (@artbrock) and Eric Harris-Braun (@zippy314), the founders of The Metacurrency Project. From their site: What is the NextNet? It was a small group of people – about 50 or so- gathering that Friday evening. Friday evening was intro-day. The weekend had something “sacred”. Some of you may remember that Art was one of our “igniters” for the New Economies session at Innotribe at Sibos Toronto, but there we only had a couple of minutes. Here at this Collabathon, Art and Eric gave a 3-hour deep introduction on The Metacurrency project. Metacurrency comes in two parts: Seas Sea/See
#PunkMoney: How to Print Money on Twitter NB: For a more up to date post on #PunkMoney, go here. In the Middle Ages, producers created their own money as a promise to deliver goods and services in the future, and spent it with people who trusted them. The promisee, who became the bearer of a new credit note, could transfer it to a third party as payment, by signing it on the back. Today, as we face another shortage of sovereign money, why not revive the old practice with new technology? So here’s a proposal on how to literally print money with Twitter, called #PunkMoney. To make #PunkMoney work best, I’ve put together a set of minimal rules for money issuance, transfer and redemption. My suggestion is to make promises you feel you can actually keep, as this makes it all much more fun for everyone else. Print money To create new money, just tweet it into existence as a promise to somebody. @someone I promise to pay you, on demand, [Insert whatever you promise here] You might want to add some details, like an expiry date That’s all