International Journal of Complementary Currency Research - Special Issue

IJCCR

International Journal of Community Currency Research Volume 15 (2011) Special issue

COMPLEMENTARY CURRENCIES: STATE OF THE ART edited by Noel Longhurst and Gill Seyfang

www.ijccr.net

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Note from the Editors: The State of the Art Noel Longhurst and Gill Seyfang

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International Journal of Community Currency Research www.ijccr.net International Journal of Community Currency Research 15 (2011) D i

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Editorial: Yet another moment of truth?

David Boyle Fellow of new economics foundation and co-founder of Time Banking UK www.david-boyle.co.uk

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So you have to take any predictions along these lines with a pinch of salt. We have been here before; we will undoubtedly be here again. But the articles in this issue of IJCCR are evidence that this is one of those moments of possibility.

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2

IJCCR Editorial: Yet another moment of truth?

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?-//$*"-)$"%33#.j$?#//2$G@9$%.$'3*-9-)*:$G$&#/-#(#$-*$-)$*"%*$ -8$ ,'7$ &7-/5$ *"#)#2$ 3#'3/#$ 4-//$ <'9#:$ ?"#*"#+$ *"#,$ 4-//$ 7)#$*"#9$ %)$ -.*#.5#52$ '+$ '&#,$ *"#$<'93/#Y$ +7/#)2$ 4#//$V$ *"%*@)$%.'*"#+$9%**#+:

David Boyle is a fellow of the New Economics Foundation, co-founder of Time Banking UK, and the author of a number of books about the future of money including Money Matters and, most recently, he is coauthor of Eminent Corporations. www.david-boyle.co.uk

G*$-).@*$3'))-&/#$*'$3+#5-<*$4"#+#$*"%*$+-6"*$<'9&-.%*-'.$'8$ Endnotes )1-//)2$ -.)3-+%*-'.$%.5$5'4.+-6"*$ .##5$4-//$"%33#.:$ [7*$ G$ !$k7'*#5$-.$B$[',/#$]XJJX^$]#5:^2$!"#$`'.#,$E"%.6#+)b$E7++#.<,$ &#/-#(#$ -*$ -)$ 3'))-&/#$ *'$ )%,$ *"#$)#<*'+)$ 4"#+#$ *"-)$ 9')*$ +#8'+9$8+'9$>+-)*'*/#$*'$#e<%)"2$f%+*")<%.2$\'.5'.2$XhJ: /-1#/,$*'$"%33#.$"#+#$-.$*"#$CZb "$G$S-)"#+2$a$E'"+))'.$%.5$a$?#)<'**$S-)"#+$]ITUU^2$D*%93$D<+-32$

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International Journal of Community Currency Research 15 (2011) D 1-3

3

Classifying “CCs”: Community, complementary and local currencies’ types and generations Jérôme Blanc

IJCCR

Associate professor, Lyon University member of the LEFI Research Centre (Lboratoire d’économie de la firme et des institutions Jerome.Blanc@univ-lyon2.fr

Abstract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

1. The problem of naming and classifying

International Journal of Community Currency Research www.ijccr.net

!"#$%&'(%&%)%*+%#$%&,-&.//01&'("*'2&2%3*0&3+,4& 3''%)5'0&',&67"89&'25,8,+"%0&3#9&',&#3)%& '("#+0&5*,5%*82&(3:%&38;320&6%%#& 9"0355,"#'"#+4&30&"-&'(%&:%*2&,6<%$'&,-&'(%& 3#3820"0&%0$35%9&-*,)&3#2&*"+"9&$8300"="$3'",#>&?& )3<,*&5*,68%)&'(3'&3*"0%0&;"'(&*%+3*90&',&//0& "0&'(%&,60,8%0$%#$%&,-&5*%:",70&'25,8,+"%04&97%& ',&*35"9&"##,:3'",#&3#9&'(%&;%3@%#"#+&,-& 6,*9%*0&A'%$(#,8,+"$384&<7*"9"$384&5,8"'"$384& "9%,8,+"$38BC&'(3'&0%%)%9&7#8"@%82&',&6%& 6*,@%#&9,;#>D&E:%#&'(%&'%*)0&.$,)58%)%#'3*2& $7**%#$214&.$,))7#"'2&$7**%#$21&3#9&)3#2& ,'(%*0&A;"'(&83#+73+%&05%$"="$"'"%0&"#&E#+8"0(&30& ;%88&30&"#&,'(%*&83#+73+%0&F&-,*&%G3)58%4&"#& H3'"#&83#+73+%I05%3@"#+&$,7#'*"%04&0,)%'("#+& 8"@%&.0,$"38&),#%21&"0&-*%J7%#'82&%)58,2%9C&3*%& #,'&$,#0"9%*%9&0")"83*82&62&3$'":"0'04&0$(,83*04& 5,8"$2I)3@%*0&,*&70%*0>&?0&3&*%078'4&'(%*%&"0&#,& $,)),#&'25,8,+2&0(3*%9&62&0$(,83*04&3$'":"0'0& 3#9&,60%*:%*04&6%2,#9&3&0%*"%0&,-&+%#%*38& $,#0"9%*3'",#0&$8%3*82&9"0'"#+7"0("#+&05%$"="$& "'%)0&6%';%%#&//&0$(%)%0>&K(%'(%*&'("0&*3"0%0& 3&)3<,*&5*,68%)&,*&#,'&9%0%*:%0&*%=8%$'",#4& 0"#$%&'(%&9":%*0"'2&3#9&'(%&"##,:3'",#&92#3)"$0& ,-&//0&3*%&#,'&$,#0'*3"#%9&62&'(%&83$@&,-&

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International Journal of Community Currency Research 15 (2011) D 4-10

4

IJCCR Classifying “CCs”

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2. Principles of a typology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5

IJCCR Classifying “CCs”

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125*A#<5C#(&C*(=5%$*7'653*4#&37(7875*725*9%3(3* #&*E2(42*%478%$*SS3*4%&*95*4$%33(>(5=)*95*725'* 68<5*#<*&#7*<5C%<=(&C*72#35*7'6530*S#&3(=5<(&C* 72(3*(;68<(7'*#A*%478%$*3'375;3*25$63* 8&=5<37%&=*E2'*725*E%'*E5*&%;5*72(&C3* 4%&&#7*95*3(;6$'*3#$B5=0*

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

International Journal of Community Currency Research 15 (2011) D 4-10

6

IJCCR Classifying “CCs”

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

Table 1: Ideal-types of currency schemes

Nature of projects

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

7-".,-7,!"-(#6(&-)&'.,200-;#3,41,(5#,/'#,-7,2, 6-):#"(&4&0&(1,"/0#,(52(,"#'("2&)(',-/(>0-;'F+, (5#&",'(&./02(&-),E(5"-/*5,(5#,6-)'("2&)(,-7, 0-620,/'#,-7,(5#,6/""#)61F+,(5#&",E"#$F-"&#)(2(&-), E(5"-/*5,'!#6&>&6,"/0#','(&./02(&)*+,7-", #%2.!0#+,#):&"-).#)(2001,-"&#)(#3,!"26(&6#'F8, 95&',(1!#,62),4#,(5-/*5(,6-.!0#(#01,-/('&3#, (#""&(-"1,&''/#',2)3,6-../)&(1,&''/#'8,95-'#, 6/""#)6&#',62),4#,6-&)#3,6-.!0#.#)(2"1, 6/""#)6&#'8,@0-'#,#%2.!0#',&)60/3#,G#".2), "#*&-,'65#.#'8

4. Moves: generations of schemes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

Space considered

Purpose

Guiding principle

Denomination (English / Spanish / French)

Territorial

Geopolitical space (territory politically defined)

Defining, protecting and strengthening a territory

Redistribution or political control

Local currencies / Monedas locales / Monnaies locales

Community

Social space (preexisting or ad hoc community)

Defining, protecting and strengthening a community

Reciprocity

Community currencies / Monedas sociales / Monnaies sociales

Economic

Economic space (production and exchange)

Protecting, stimulating or Market orientating the economy

Complementary currencies / Monedas complementarias / Monnaies complémentaires

Territorial

Sovereign space

Sovereignty

Redistribution or political control

National currencies / monedas nacionales / monnaies nationales

Economic

Clients of a forprofit organization

Profit

Purchasing power capture

For-profit currencies / Monedas para lucro / Monnaies à but lucratif

“CCs”

Outside “CCs”

International Journal of Community Currency Research 15 (2011) D 4-10

7

IJCCR Classifying “CCs”

!"#"$%&'(#)*%+),")$"!"#"$%&"-),+)'##(.%&'(#) /0%,1")234)5%67)!"#"$%&'(#)'#618-"9)%)9"$'"9)(:) ";<"$'"#6"9)(:&"#)$"1%&"-)&()"%67)(&7"$9=)>7'1") "%67)!"#"$%&'(#)"#&"$&%'#9)1'#?9)>'&7) ";<"$'"#6"9):$(*)<$".'(89)(#"9)%#-)<$(.'-"9) *(-"19=)<(9'&'.")($)#"!%&'."=):($):8&8$")(#"94)

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“We propose a second level of typology, >(*"#)%9)>"11)%9)&()%#+)<"$9(#9)'#)>%#&)(:) distinguishing four generations, each combining 7"1<)%#-)'#)6%<%6'&+)&()<$(.'-")9"$.'6"94)07"+) in a different way the three previous ideal-types. %$")<8$"1+)*8&8%1)6$"-'&)9+9&"*9)>7"$"'#) These generations are characterized by a specific 9"$.'6"9)%$").%18"-)>'&7)&'*"4)@9)967"*"9) <$(.'-'#!)7"1<)&()<"(<1")'#)%)6(*<1"*"#&%$+) monetary organization and specific relationships >%+)>'&7)9(6'%1)<$(!$%**"9=)&7"+):$"S8"#&1+) -"."1(<)<%$&#"$97'<9)>'&7)1(6%1)!(."$#*"#&9) with the socio-economic world and with ($)9(6'%11+)($'"#&"-):(8#-%&'(#9=)%#-)&7"+)%$") governments (local or central) as well.”

9(*"&'*"9)-'$"6&1+)'*<1"*"#&"-),+)1(6%1) !(."$#*"#&94)07")@66($-"$'")967"*"):$(*) T7'1")&'*")'9):$"S8"#&1+)6(#9'-"$"-)%9)%)!8'-") :($)";67%#!").%18"=)'&)'9)#(&)&7")(#1+)(#")%#-)'&) \8","6)/B%#%-%3=)&7%&)7%9),""#)'*<1"*"#&"-) 9(*"&'*"9)&(&%11+)-'9%<<"%$94)07")6$86'%1)<('#&) 9'#6")2HHE=)$"U'#."#&9)<8$")&'*")967"*"9=),+) %--'#!)*'6$(6$"-'&)%#-)!$(8<"-)<8$67%9"9) '9)68$$"#6+)'#6(#."$&','1'&+)/&7(8!7):$%8-)'9) <(99',1")>'&7)<%<"$)68$$"#6'"934)07'9)-("9)#(&) <(99','1'&'"9)&()&7")&'*").%18%&'(#)<$'#6'<1")(:) <$"."#&)&7")6(U89")(:)68$$"#6'"9)/&$%#9%6&'(#9) $"6'<$(6%1)";67%#!"4) <%'-),+)%)6(*,'#%&'(#)(:)'#&"$#%1)%#-)#%&'(#%1) 68$$"#6'"93=)"9<"6'%11+)>7"#)";'9&'#!):($*%1) 9*%11)"#&"$<$'9"9)($)97(<9)%$")'#618-"-)'#)&7") 967"*"4)R(>"."$=)&7(9")967"*"9)%$") 67%$%6&"$'K"-),+)&7")>"%?#"99)(:)<%$&#"$97'<9) ($)"."#)$"1%&'(#97'<9)>'&7)9867):($*%1) "6(#(*'6)%6&'.'&'"9=)%9)>"11)%9)>'&7)1(6%1) !(."$#*"#&94)07"+)*(9&1+)$":"$)&()6(**8#'&+) 68$$"#6'"9)"9&%,1'97"-),+)1(6%1)#(#U<$(A'&) ($!%#'9%&'(#9)&7%&)%'*)%&)<$(.'-'#!)&7")*"%#9) /$"6'<$(6'&+3)&()9%&'9:+)#""-9)&7%&)%$")8#*"&),+) *%$?"&)%6&'.'&'"9)($)<8,1'6)9"$.'6"94)I#)9(*") 6%9"9=)7(>"."$=)&7"$")7%9),""#)9(*")<1%6"):($) *%$?"&)";67%#!")($=)%&)%)1"99"$)";&"#&=):($) <8,1'6)<%$&#"$97'<9)%#-)1(!'694)V,9"$.%&'(#9)(#)

07'$-)!"#"$%&'(#)967"*"9)9&%$&)>'&7)&7")I&7%6%) R(8$)";<"$'"#6")'#)EFFE=)>7'67)-"$'."9):$(*) &7")C50D)*(-"14)]8$'#!)&7")2HHH9=)&7"+)7%.") ,""#),((9&"-),+)&7")"*"$!"#6")(:)^"$*%#) $"!'()967"*"9)/1'?")&7")B7'"*!%8"$3=)J$%K'1'%#) 6(**8#'&+),%#?9)%#-)68$$"#6'"9)/1'?")

N($&%1"K%[9)J%#6()Y%1*%93)%#-)LD)J"$?D7%$"[9) 9866"994)I*<1"*"#&"-)'#)%#)(,.'(89)"6(#(*'6) <8$<(9"=)&7"+)6(#9&'&8&")6(*<1"*"#&%$+) 68$$"#6+)967"*"9_)7%.'#!)%)&7"'$)&"$$'&($'%1) %*,'&'(#=)&7"+)%$")1(6%1)68$$"#6'"9)%9)>"114) 07"+)%$")!"#"$%11+)'*<1"*"#&"-),+)#(#U<$(A'&) ($!%#'K%&'(#9)%#-)9(*"&'*"9)%$(8#-)%)1(6%1) 6((<"$%&'.")($)6(**8#'&+),%#?)/':)&7"+)>"$") '*<1"*"#&"-),+)1(6%1)!(."$#*"#&9)&7"*9"1."9)

International Journal of Community Currency Research 15 (2011) D 4-10

8

IJCCR Classifying â&#x20AC;&#x153;CCsâ&#x20AC;?

Table 2: Four CC Generations since the 1980s

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

C*''+)4!#H-&IJ&-,0+#+&"$&KLLKDLM&0!-&5++$&!& ?*)+).$$+)&*?&!&?*.)'0&%+$+)!'"*$&'0!'&-++#-&'*& 5+&()*%)+--"<+/1&+#+)%"$%7&N,0+#+-&*?&'0"-&$+3& %+$+)!'"*$&!)+&,*$-'"'.'+4&51&#./'"(/+:& ()*O+,'-&30+)+&/*,!/&%*<+)$#+$'-&(/!1&!&#!O*)& )*/+7&E0+1&,*#5"$+&-+<+)!/&*5O+,'"<+-&'0!'&3+)+& ;+('&-+(!)!'+&.(&'*&'0+$2&!$4&'0+1&?*,.-&*$&

E0+&,/!--"9",!'"*$&!''+#('&"$&'0"-&'+:'&!((+!)-& '*&5+&9/+:"5/+&+$*.%0&'*&+$-.)+&'0+&(*--"5"/"'1& *?&!&41$!#",&<"+3&*?&,.))+$,1&-,0+#+-7&E0+& "4+!/&'1(+-&*?&,*##.$"'12&,*#(/+#+$'!)1&!$4& /*,!/&,.))+$,"+-&/+'&'0+&(*--"5"/"'1&*?& ,*#5"$!'"*$-&!5/+&'*&!$!/1F+&,*$,)+'+&?*)#-&*?& $*$D$!'"*$!/&!$4&$*'D?*)D()*9"'&,.))+$,"+-7&E0+&

5. Conclusion

Generation

Significant cases

Currency scheme types

Guiding principle

Content overview

G1

LETS, trueque, CES

Mostly community

Reciprocity first; various distance to market

Inconvertible schemes; quite small openness to external economic activities

G2

Time banks, Accorderie

Community

Reciprocity first; various distance to local governments

Inconvertible schemes with time currencies; frequent partnerships, especially with local governments

G3

Ithaca Hour, Local and Regio, complementary Palmas, BerkShares

Market first; generally distant from local governments

Convertible schemes; local businesses are included; interest of partnerships with local governments

G4

NU, SOL

Market first, with links to governments and reciprocity

Complex schemes oriented toward consumer responsibility or / and economic activities reorientation and other purposes; partnerships are necessary

Mostly complementary

International Journal of Community Currency Research 15 (2011) D 4-10

9

IJCCR Classifying “CCs”

!"#"$#$%&'(#)"*'#+,&$-)$.),$/"0"&%-!1)(-23)4$0") &45$0!(-!3)50$6&!)4$!&/",)4+,!)7")"458(,&9"2:) ;!)&,).0"<+"-!3)&-2""23)!$)'$-,&2"0).$0=50$6&!) '+00"-'&",)(#$-%)>&!8)??),'8"4",3),!(!&-%)!8(!) !8"1)(##)0"."0)!$)-$-=-(!&$-(#)'+00"-'&",)(-23) !8+,3)!8(!)!8"1)(0")(##)@'$45#"4"-!(01A:)B8") 50","-!)!15$#$%1),!(!",)!8(!).$0=50$6&!) '+00"-'&",)(0")$.)(-$!8"0)-(!+0")!8(-)??,3)(-2) &!)20(>,)+5)(-)&2"(#=!15")$.)??,)7+&#!)(0$+-2)() 2"4$'0(!&')5(0!&'&5(!&$-)50&-'&5#")$0%(-&9"2) (0$+-2)-$-=50$6&!)$0%(-&9(!&$-,3)%0(,,0$$!,) $0%(-&9(!&$-,)$0)&-.$04(#)%0$+5&-%,)$.)5"0,$-,:) ;2"-!&.1&-%)??)%"-"0(!&$-,)(/$&2,)(-1)'#$,"2) !15$#$%1)(-2)#"(2,)!$).$'+,)$-)!8")('!+(#) 21-(4&',)!8(!)"4"0%"2)&-)!8")CDEF,)(-2)-"/"0) ,!$55"2),&-'")!8"-3)(#!8$+%8)!8"&0)"*!"-!3)!8"&0) .$04,)(-23)$/"0(##3)!8"&0)50$G"'!,3)"/$#/"2) 0(5&2#1:)H">)%"-"0(!&$-,),8$+#2)"4"0%")&-)!8") '$4&-%)1"(0,)(-2)2"'(2",3)"&!8"0)!80$+%8)!8") ,50"(2&-%)$.)(#0"(21)"*&,!&-%),'8"4",)#&I") J!0$8(#4K,)?L3)$0)!80$+%8)-">)'$47&-(!&$-)$.) "*&,!&-%),'8"4",)$0)$.)7(,&')&!"4,3)$0) "/"-!+(##1)!80$+%8)'0&!&'(#)&--$/(!&$-,)#&I")!8") @.0"")'+00"-'&",A)(!!"45!,:)B8").+!+0") "/$#+!&$-)$.)??,)&,)'"0!(&-#1)#&-I"2)!$) !"'8-$#$%&'(#)50$%0",,)M>&!8)!8")+,")$.)&-!"0-"!)

(-2)4$7&#")2"/&'",N3)!$)!8"&0)('I-$>#"2%4"-!) (,)()I"1)"#"4"-!)$.)5+7#&')5$#&'&",3)(-2)!$)!8"&0) +,")(,)()!$$#).$0)"-/&0$-4"-!(#),$#+!&$-,:)

Endnotes !"J&-'")!8")4&2=CDDF,3).$0)"*(45#"3)!8");-!"0-"!)

50$/&2",)!8")(7&#&!1)!$)'0"(!")'$44+-&!1),'8"4",) >8$,")('!+(#)#&4&!,)(0")!$!(##1)2&,'$--"'!"2)>&!8) -(!&$-(#)7$02"0,:)O!8"0)"*(45#"3)>8&#")&-)P0(-'")!8") 6&0,!)(!!"45!,)&-)!8")CDDF,)>"0")7+&#!)&-)!8")."(0)$.) &##"%(#&!1)>&!8)0"."0"-'")!$)(-)$02&-(-'")$.)!8")"-2)$.)

CDQF,3)!8&,)."(0),""4,)!$)8(/")2&,(55"(0"2)(!)!8") "-2)$.)!8")RFFF,)>&!8)!8"),50"(2&-%)$.),"/"0(#)5(5"0) '+00"-'&",)50$G"'!,)(-2)50$%0(44" #"J145!$4(!&')$.)!8&,)2&.6&'+#!1)M&.)-$!)'$-6#&'!N3)!8")

$0&%&-(#)!&!#")$.)!8")G$+0-(#)0"."0,)!$)@'$44+-&!1A) >8"0"(,)!8")?(##).$0)5(5"0,).$0)(),5"'&(#)"2&!&$-3) RFCF3)2"(#,)>&!8)@?+00"-!)S"/"#$54"-!,)&-) ?$45#"4"-!(01)?+00"-'&",A:

References T#(-')UV0W4")MRFFDN3)X?$-!0(&-!",)"!)'8$&*) $0%(-&,(!&$--"#,)2(-,)#",)2&,5$,&!&.,)2")4$--(&",) ,$'&(#",X3)Y--(#,)$.)Z+7#&')(-2)?$$5"0(!&/") ['$-$4&',3)EFM\N3)55:)Q\]=Q]]:) S"^"#"+-("0")J!"58"-)(-2)T#(-')UV0W4"3)@J1,!"4,)_) ^"'8(-&,4,A3)&-)`)S"^"+#"-("0")J!"58"-)M?$$02:N3) MRFF]N3)J$'&(#)^$-"1)a$0I,8$5:)P('&#&!(!&$-) ?$44&!!"")b"5$0!3)RFFc=RFF]3)P$-2(!&$-)5$+0)#") Z0$%0d,)2")#K8$44"3)Z(0&,: e"--"21)^(0%0&!)(-2)f&"!("0)T"0-(02)MRFF\N3) b"%&$-(#>g80+-%"-:)H"+")a"%")9+)-('88(#!&%"4) a$8#,!(-23)^h-'8"-`)b&"4(--)i"0#(%:)B0(-,#(!"2)&-) P0"-'8)`)^$--(&",)bV%&$-(#",)`)2")-$+/"##",)/$&",) /"0,)+-")50$,5V0&!V)2+0(7#"3)Z(0&,`)[2&!&$-,)?8(0#",) fV$5$#2)^(1"03)RFFE: Z$#(-1&)e(0#)MCDQ]N3)XB8")['$-$41)(,);-,!&!+!"2) Z0$'",,X3)&-`)?$-0(2)Y0"-,7"0%3)e(0#)Z$#(-1&)(-2) j(001)a:)Z"(0,$-)M[2,:N3)B0(2")(-2)^(0I"!)&-)!8") [(0#1)[45&0",:)['$-$4&",)&-)j&,!$01)(-2)B8"$013) H">)k$0I`)P0"")Z0",,3)55:)R\L=R]F:

International Journal of Community Currency Research 15 (2011) D 4-10

10

On the money: Getting the message out John Rogers Value for People john.rogers@valueforpeople.co.uk

IJCCR Abstract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

!"#$%&'()*+$%&')',-$#($./00')'#1'$2'%3''#$%&'()*$4#.$5)41%/1'6$/#$5)41%/1'+$%&')'$/-78 J+;2%O#$$&L%O&-#(&77%B+&5"

Lessons of experience !"#$#%"&'#%(##)%*"+,-&).-%+/%#01#$23#)*-% 42*"%5+33,)2*6%5,$$#)52#-%&$+,).%*"#%4+$7.% +'#$%*"#%7&-*%/#4%.#5&.#-8%9-*23&*#-%'&$6%&-%*+% *"#%),3(#$%+/%&5*2'#%-6-*#3-%(,*%3+-*%-6-*#3-% *"&*%&$#%-*&$*#.%.+%)+*%(#5+3#%-,-*&2)&(7#8% :&)6%5,$$#)52#-%"&'#%)+*%#-*&(72-"#.% *"#3-#7'#-%(#6+).%&%$#7&*2'#76%-3&77%;$+,1% <*6125&776%7#--%*"&)%=>>%1&$*2521&)*-?%&).%3&)6% -6-*#3-%&$#%3+$2(,).8%@%/#4%"&'#%#-*&(72-"#.% *"#3-#7'#-%&).%&**$&5*#.%&%7+*%+/%&**#)*2+)8%

International Journal of Community Currency Research www.ijccr.net

A*%2-%231+$*&)*%*+%&)&76-#%&).%.2--#32)&*#%*"#% 7#--+)-%/$+3%(+*"%-,55#--%&).%/&27,$#%*+% #)5+,$&;#%&%)#4%;#)#$&*2+)%+/%-,-*&2)&(7#% -6-*#3-8

Critical Success Factors !"#%/#4%-6-*#3-%*"&*%"&'#%7&-*#.%&%7+);%*23#% -"+4%*"&*%2*%2-%1+--2(7#%*+%-,-*&2)%&%7+5&7% 5,$$#)56%+'#$%&%7+);%1#$2+.8%

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

International Journal of Community Currency Research 15 (2011) D 11-16

11

IJCCR Getting the message out

Why Educate about Community Currencies? !"#$#%&$#%'#(#$&)%$#&'*+'%,*$%#-./&01+2%3#*3)#% &4*.0%/*55.+106%/.$$#+/1#'7

Practical reasons 8,%9#%9&+0%0*%153$*(#%0"#%'.'0&1+&41)106%$&0#%*,% /*55.+106%/.$$#+/1#':%9#%+##-%0*%$&1'#%';1))% )#(#)'%4*0"%,*$%-#'12+1+2%&+-%3&$01/13&01+2%1+% 0"#5<%80%1'%'01))%0**%/*55*+%,*$%3#*3)#%910"% )100)#%;+*9)#-2#%0*%)&.+/"%+#9%/.$$#+/1#':% $1-1+2%&%'"*$0%9&(#%*,%#+0".'1&'5%&+-%1-#&)1'5:% 4.0%)&0#$%9&0/"1+2%0"#1$%'6'0#5%-1'&33#&$%&'% 0"#%4122#$%9&(#'%*,%)*+2=0#$5%5&1+0#+&+/#% 4$#&;%*(#$%0"#5<%>#*3)#%+##-%';1))'%&+-% 1+,*$5&01*+%,*$%-#'12+%&+-%*$2&+1'&01*+<

Economic reasons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

â&#x20AC;&#x153;If we want to improve the sustainability rate of community currencies, we need to raise skill levels both for designing and participating in themâ&#x20AC;?

Social reasons B*55.+106%/.$$#+/1#'%"#)3%/*55.+101#'% '.,,#$1+2%,$*5%0"#%@#C0#$+&)101#'A%*,%0"#%5&$;#0% #/*+*567%/*55.+106%4$#&;-*9+D%/$15#D% -$.2'D%1'*)&01*+%#0/<%!"#6%/$#&0#%&%;1+-%*,% 155.+#%'6'0#5%0*%3$*0#/0%0"#%/*55.+106%1+% "&$-%015#'<%>#*3)#%+##-%0*%#C3)*$#%0"#%'*/1&)% #,,#/0'%*,%/*55.+106%/.$$#+/1#'<

Ecological reasons E%5*+#0&$6%5*+*/.)0.$#%-*51+&0#-%46%&% "&+-,.)%*,%3*9#$,.)%+&01*+&)%/.$$#+/1#'%"&'%0"#% '&5#%#,,#/0'%&'%5*+*=/$*331+2%1+%&%)&+-'/&3#%F% #C0$#5#%'3#/1&)1'&01*+%&+-%#,?1/1#+/6%&0%0"#% 3$1/#%*,%$#'1)1#+/#%1+%0"#%,&/#%*,%/"&))#+2#'<% G*+#0&$6%-1(#$'106%51$$*$'%#/*)*21/&)%

-1(#$'1067%0"#%$1/"#$%0"#%41*=-1(#$'106:%0"#%5*$#% $#'1)1#+0%0"#%9"*)#%'6'0#5<%!"1'%5*+#0&$6% -1(#$'106%&)'*%'.33*$0'%$#&)%#/*)*21/&)%-1(#$'106% 46%#+&4)1+2%)*/&)%/*55.+101#'%0*%5*41)1'#% 3#*3)#%0*%-*%#''#+01&)%/*+'#$(&01*+%9*$;%&+-% 5&1+0&1+%#+(1$*+5#+0&)%3$*H#/0'<%>#*3)#%+##-% 0*%2$&'3%0"#%#/*)*21/&)%4#+#?10'%*,%/*55.+106% /.$$#+/1#'<

Political reasons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

Psychological reasons >&$01/13&+0'%*,0#+%/*55#+0%*+%0"#%-1,,#$#+0% @,##)A%*,%3&$01/13&01*+%1+%&%)*/&))6%*9+#-%&+-% 5&+&2#-:%1+0#$#'0=,$##%5*+#6%'6'0#5<% K-./&01+2%&4*.0%/*55.+106%/.$$#+/1#'%"#)3'% .'%0*%'##%"*9%0"#'#%5#/"&+1'5'%/&+%3)&6%&%$*)#% 1+%*.$%3#$'*+&)%&+-%/*55.+106%#/*+*51#'%*,% #C/"&+2#<

Audiences and Messages !"#%;#6%&.-1#+/#'%,*$%5#''&2#'%&4*.0% /*55.+106%/.$$#+/1#'%&$#7 L E/0.&)%&+-%3*0#+01&)%3&$01/13&+0' L M#'12+#$'%*,%+#9%'6'0#5' L N$2&+1'#$'%&+-%&-51+1'0$&0*$' L O.+-#$'%&+-%3.4)1/%-#/1'1*+%5&;#$'< !"#%'3#/1?1/%+##-'%*,%#&/"%*,%0"#'#%2$*.3'%1'% -1'/.''#-%4#)*9<%

Actual and Potential Participants J#%+##-%0*%-#5*+'0$&0#%0"#%4#+#?10'%*,% /*55.+106%/.$$#+/1#'%0*%3*0#+01&)%3&$01/13&+0'% &+-%'.33*$0#$'<%E0%0"#%'&5#%015#%9#%+##-%0*% "12")12"0%0"#%3$&/01/&)%/"&))#+2#'%*,%-#'12+1+2:%

International Journal of Community Currency Research 15 (2011) D 11-16

12

IJCCR Getting the message out

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

Designers of new systems

!"#$%!&'()-(8!+,(G4$%+&+$+&9-(-9&)-%2-(H'+$+&'+&2'(.!"( 3$"+&2&3$+&!%($%)(+"$)-'I($%)(G4$7&+$+&9-(-9&)-%2-(H"-$7( '+!"&-'($8!4+(8-%-=&+'(!.(3$"+&2&3$+&!%I>(3-"'!%$7( "-7$+&!%',&3'(6&+,(.4%)-"'($%)(2&9&7('-"9$%+'>('-%)&%#( %-6'7-++-"'($%)(8477-+&%'0 !"#$%*&+)%,&$%!&'(<(&)-!7!#/(?(3"-$2,&%#>( +-2,%&2$7(!"($2$)-*&2(7$%#4$#-0

Delivery Mechanisms J-(%--)(+!()-9-7!3(+$"#-+-)(-)42$+&!%$7('+"$+-#&-'(+!('4&+( +,-(&%.!"*$+&!%($%)('5&77'(%--)'(!.(-$2,(#"!430 K!*-(6&77(3"-.-"(+!("-$)($2$)-*&2(3$3-"'($%$7/'&%#(+,-( )-+$&7'(!.(2!**4%&+/(24""-%2&-'>(!+,-"'(6&77(6$%+(,$")( -9&)-%2-(!.(8-%-=&+'(8-.!"-(+,-/(8$25(+,-(&)-$>(!+,-"'(6&77( 3"-.-"(+!("-$)($"+&27-'(&%(+,-(7!2$7(%-6'3$3-"(!"($(%$+&!%$7( *$#$L&%->(!+,-"'(6&77(D4'+(6$%+(+!(+"/(&+(!4+($%)('--(6,$+( ,$33-%'>(!+,-"'(*$/(6$%+(+!(-%#$#-(&%(+"$&%&%#0

@-'&#%-"'(%--)(+!(8-(.$*&7&$"(6&+,()-'&#%(.-$+4"-'($%)( !3+&!%'(+!(-%'4"-(+,$+('/'+-*'($"-()-'&#%-)(+!(*--+( 3$"+&2&3$%+'A(#!$7'($%)(+$5-(+,-*(6,-"-(+,-/(6$%+(+!(#!0( B,-/(%--)(+!(+$5-($(6,!7-('/'+-*'($33"!$2,(+!( 2!**4%&+/(24""-%2/()-'&#%;(-*8-))&%#(+,-(+-2,%&2$7( Conclusions )-'&#%(3"!2-''(&%($(2!**4%&+/()-9-7!3*-%+(3"!2-''(+,$+( -%#$#-'(3!+-%+&$7(4'-"'(-$"7/(!%0(B,-/(%--)(+!(8-(27-$"( M!*37-*-%+$"/($%)(2!**4%&+/(24""-%2&-'("-3"-'-%+($( $8!4+(-%)'($%)(!3-%($8!4+(+,-(*-$%'(!.("-$2,&%#(+,-*0( )-2$)-'C!7);(6!"7)6&)-(*!9-*-%+(+,$+(&'(2!%'+$%+7/( -9!79&%#(%-6()-'&#%'($%)(.!"*'(!.(!"#$%&'$+&!%0 !"#$%!&'()-(&%+-"%-+()&'24''&!%(#"!43'>()-'&#%( #4&)-'>('3-2&$7&'-)(+"$&%&%#>("-'3-2+(.!"($()&9-"'&+/(!.( B,-(!4+6$")(9$"&-+/(2$%(!8'24"-(+,-(2!**!%$7&+&-'( $33"!$2,-'0 8-+6--%('/'+-*'<("-7-$'&%#(7!2$7(3!+-%+&$7(.!"(6-$7+,( !"#$%*&+)%,&$%!&'(-(&)-!7!#/(?(3"-$2,&%#>( *4*8!CD4*8!($%)(*/'+&=&2$+&!%0

Organisers and Administrators E"#$%&'-"'($%)($)*&%&'+"$+!"'(%--)(+!(5%!6(6,$+( *$%$#-*-%+(+$'5'($%)(2,$77-%#-'(+,-/(6&77(.$2-($%)(+,-/( %--)(+,-('5&77'(!.(7-$)-"',&3($%)($)$3+$8&7&+/(+!(7!2$7( 2&"24*'+$%2-'0(B,-/(%--)(+!(-'+$87&',(-..-2+&9-( #!9-"%$%2-('+"42+4"-'(.!"("-'!79&%#(2!%=7&2+($%)(*$5&%#( '+"$+-#&2()-2&'&!%'0 !"#$%!&'()<('+"!%#(7-$)-"',&3(+-$*(+!(',$"-("!7-'>( &%+-"%-+()&'24''&!%(#"!43'>('3-2&$7&'-)(+"$&%&%#>(%$+&!%$7( '433!"+($#-%2&-'0

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

!"#$%*&+)%,&$%!&'(-(3$"$2,4+&%#(&%(*!)-7'(."!*( -7'-6,-"-(6&+,!4+($)$3+$+&!%>(!%-C*$%(!"(6!*$%(8$%)'( Q!"-(2!!")&%$+-)($%)('+"$+-#&2('433!"+(8/(.4%)-"'($%)( 6,!("-.4'-($)9&2-(!"(+"$&%&%#>(7-$9&%#('+"42+4"-'($%)( &%'+&+4+&!%'(.!"(-)42$+&!%$7(-..!"+'(C(2!**&''&!%&%#( 3"!2-''-'(+!(2,$%2-0 3"!.-''&!%$7(-)42$+&!%$7(*$+-"&$7'($%)(*$5&%#(.477(4'-(!.( +,-(&%+-"%-+;(*47+&*-)&$($%)('!2&$7(%-+6!"5&%#(C(6!47)( ,-73()&''-*&%$+-(+,&'(#"-$+('!2&$7(&%%!9$+&!%(-9-%(.4"+,-"( Funders and public decision makers $%)(-%,$%2-(&+'(-..-2+&9-%-''0 F4%)-"'($%)(3487&2()-2&'&!%(*$5-"'(%--)(+!(5%!6(6,$+( 2!**4%&+/(24""-%2&-'($"-;(6,$+('3-2&=&2(8-%-=&+'(+,-/( 8"&%#(+!(6,&2,(#"!43'($%)(6,$+(-9&)-%2-(+,-"-(&'(.!"( -..-2+&9-%-''0 International Journal of Community Currency Research 15 (2011) D 11-16

13

IJCCR Getting the message out

Educational strategy or tool

Audiences

Aims

Delivery Agents

Books & Articles

Decision makers

Persuasion

Various authors: Bernard Lietaer: http://www.lietaer.com/ Margrit Kennedy: http://www.margritkennedy.de/ Thomas Greco: http://www.reinventingmoney.com/ Richard Douthwaite: http://www.postcarbon.org/person/36218-richarddouthwaite

Information General public

Magazine

General public

Information

Community Currency Magazine http://www.community currenciesmag.net/dp/

Share stories Designers Design Guides

Designers

Specialist information

Administrators

Community Currency Guide

by Bernard Lietaer and Gwendolyn Hallsmith http://www.global-community.org/gc/newsfiles/25/ Community%20Currency%20Guide.pdf The Lewes Pound How To Guide by Oliver Dudok van Heel:http://www.thelewespound.org/assets/docs/ Lewes_Pound_How_To_Guide.pdf

Research summaries

Researchers

Analysis

Decision makers

Specialist information

Policy analysts

International Journal of Community Currencies Research http://www.ijccr.net Bibliography of Community Currencies Research http://www.community currencies-literature.de/ 1.introduction/ Community Currencies Research Group http://www.complementarycurrency.org/community currenciesResearch.html

Table 1: Educational Strategies and Resources for Complementary Currencies (continued overleaf)

International Journal of Community Currency Research 15 (2011) D 11-16

14

IJCCR Getting the message out

Educational strategy or tool

Audiences

Aims

Delivery Agents

General advice & information

General public

Information

Complementary Currency Resource Center http://www.complementarycurrency.org/ Time Banks USA http://www.timebanks.org/ Time Banks UK http://www.timebanking.org/ Time Banking Wales http://www.timebankingwales.org.uk/ LETSystems Home Page http://www.gmlets.u-net.com/ LETS in Australia http://www.lets.org.au/ LETSLink UK http://www.letslinkuk.net/ LETS Link-Up http://www.lets-linkup.com/

Videos

General public

Persuasion

The Money Fix http://themoneyfix.org/ La Double Face de la Monnaie http://mareauxcanards.ouvaton.org/films.php? choix_film=25 Search for “community currencies” and “complementary currencies” on You Tube: http:// www.youtube.com Videos about Time Banking: http://www.timebanks.org/videos.htm http://www.timebanking.org/ Lyttleton Time Bank, New Zealand: http://www.lyttelton.net.nz/timebank Oliver Dudok van Heel talks about Lewes Pound http://transitionculture.org/2010/01/22/oliver-dudokvan-heel-on-local-currencies-transition-and-the-lewespound/

International Journal of Community Currency Research 15 (2011) D 11-16

15

IJCCR Getting the message out

Educational strategy or tool

Audiences

Aims

Conferences

Designers

Dissemination Various organisations e.g.

USA, 2004 Networking http://www.smallisbeautiful.org/local_currencies/ 2004_conference_report.html

Participants

Delivery Agents

Germany, 2004 http://www.newmediaexplorer.org/sepp/COMMUNITY CURRENCIESurrencies_in_Europe2_2004.pdf New Zealand, 2009 http://www.transitiontowns.org.nz/node/1470 Annual Time Banking congresses c/o Timebanks USA and Timebanks UK

Webinars (internet seminars)

Enquirers

Training

Designers

Specialist information

Internet discussion groups

Enquirers

Share knowledge, experiments, updates and inquiries

Participants Designers

Value for People http://valueforpeople.co.uk/letsmakemoney

CC Open Collective is a moderated online forum (skype chat): contact Les Squires (skype name: LSquiresSkype) Time Banks Forum http://forums.timebanks.org/

Researchers Advocates!

Training

Enquirers

Training

Participants

Specialist information

Designers

Time Banks USA http://www.timebanks.org/ Time Banks UK http://www.timebanking.org/ Value for People http://valueforpeople.co.uk/training

International Journal of Community Currency Research 15 (2011) D 11-16

16

Complementary Currencies in Germany: The Regiogeld System Christian Thiel

IJCCR

University of Augsberg, Germany christian.thiel@phil.uni-augsburg.de

Abstract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

Introduction !"#$%&%'()#*)(+%$#,"#-%'.("/#+0)01'21)#$),*$#02# *(*%'#'%*)(+%#34%#51'0#($#(#.%6,1.#02# %7+4("8%9#:4%$%#1"02;,+,()#3%"6%'$#('%#+())%6# <..%')%+43()%'=#>?'8%'@)?3%=#A'%/%+B%'=# 5)@3()%'=#-C,""%'=#D(&%)@)?3%=#E(""F($=# G("6.('B=#H(480)6=#IJ)K%'=#L0)("6=#M3%'"3()%'=# :(1@%'N'("B%"#0'#O$+40*(13()%'9#F%#('%# 3()B,"8#(@013#-%'.("#L%8,08%)6=#(# *4%"0.%"0"#C4,+4#0++1''%6#('01"6#PQQR#("6# $*'%(6#'(*,6)/#())#0&%'#-%'.("/9#!3#(**%('$#"03# 0")/#C,34#6,22%'%"3#"(.%$#@13#()$0#,"#&(',01$# 20'.$9#

International Journal of Community Currency Research www.ijccr.net

,3$#0@X%+3,&%$=#,3$#0'8(",K(3,0"()=#;,"("+,()#("6# *%'$0""%)#'%$01'+%$9#

What is Regiogeld?

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nternational Journal of Community Currency Research 15 (2011) D 17-21

17

IJCCR The Regiogeld System

There are big differences in the construction of the almost 30 active regional currencies in Germany. One of the most important (and among the makers most controversial) concerns the question of value: some Regiogelder are backed by Euros, other are backed by goods and services. !"#$%&'$()&%*+,+&'-./#)+.%#0&,1)10#$1%1+,2& %*+$+&#$+&314&/1''+$+.5+,&1.&%*+&5(.,%$-5%1(.&('& %*+&#0)(,%&67&#5%18+&$+41(.#0&5-$$+.51+,&1.& 9+$)#.:;&<.+&('&%*+&)(,%&1)"($%#.%&=#./& #)(.4&%*+&)#>+$,&)(,%&5(.%$(8+$,1#0?& 5(.5+$.,&%*+&@-+,%1(.&('&8#0-+A&,()+& B+41(4+0/+$&#$+&3#5>+/&3:&C-$(,2&(%*+$&#$+& 3#5>+/&3:&4((/,&#./&,+$815+,;&

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

How did Regiogeld originate?

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`_A&O6?;&9+,+00&#./&*1,& %*+&B+41(4+0/&($4#.1K#%1(.&#./&$+5+18+&%*+& '(00(H+$,&"-$,-+/&=H1%*(-%&,-55+,,?&#&"(01%15#0& 8#0-+&1.&C-$(&5-$$+.5:&1.&$+%-$.;&L($&%*1,&$+E )(.+:&$+'($)&#./&#0,(&1)"0+)+.%+/&,)#00& +M5*#.4+&)(,%&B+41(4+0/&($4#.1K#%1(.,& ,5#0+&0(5#0&)(.+:&+M"+$1)+.%,& /+)#./&#&'++&('&N&%(&O7&P;&Q#$%&('&%*1,&5(8+$,& =a1+/+$+44+$&O__b?;& %*+1$&+M"+.,+,&#./&%*+&$+,%&1,&/(.#%+/&%(& I*+&)(,%&'#)(-,&%((>&"0#5+&1.&%*+&!-,%$1#.& 5())-.1%:&5*#$1%1+,;&I*+&#/8#.%#4+,&('&%*1,& %(H.&('&cd$40&3+%H++.&O_6^&#./&O_6`;&D.&%*+& ,:,%+)&#$+A&1%&1,&+#,:&%(&-./+$,%#./2&H1%*&0(HE )1//0+&('&%*+&H($0/&+5(.()15&5$1,1,&%*+&)#:($& $1,>&'($&%*+&3-,1.+,,+,&=%*+:&5#.&$+E+M5*#.4+& "#1/&%*+&,#0#$1+,&#./&H#4+,&('&%*+&"-3015& %*+&+#$.+/&$+41(.#0&)(.+:&%(&C-$(,?&#./&R& +)"0(:++,&H1%*&0(5#0&)(.+:;&e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cd$40&,%#$%+/&%(&3+& ($4#.1K#%1(.&(.0:&"$(81/+,&%*+&#/)1.1,%$#%1(.& #&)(/+0&'($&(%*+$&5$1,1,E$1//+.&%(H.,;&W-%&%*+.& =1)"0+)+.%#%1(.2&5(.%$(001.4&+%&5+%+$#?&#./& %*+&!-,%$1#.&5+.%$#0&3#.>2&'+#$1.4&'($&1%,& 5*#$4+,&,()+&'++,&'($&%*1,&,+$815+;&!55($/1.40:2& )(.("(0:&'($&)(.+:&5$+#%1(.2&,%(""+/&%*+& %*+&3-,1.+,,+,&5#.&1.5$+#,+&%*+1$&T1.#.51#0& +M"+$1)+.%&=L1,*+$&O_66S&<.>+.&O__bS& ,(08+.5:2&3+5#-,+&%*+:&)($+&($&0+,,&4+%&%*+& c+$.+$&O_\_A&\\?;& 8(-5*+$,&'($&'$++;&U(H+8+$2&%*1,&1,&/1'T15-0%&%(& I*+&L$+14+0/&X(8+)+.%&H#,&%*+.&"$(*131%+/& 5(.8+:;&I*+&3-,1.+,,+,&'+#$&.(%&%(&4+%&$1/&('& /-$1.4&I*1$/&B+15*&#./&'($)+/&-"&#4#1.&O_N7& %*+1$&B+41(4+0/&$+8+.-+,&#,&%*+$+&1,&.(&$+E #,&#&=)#$41.#0?&"(01%15#0&"#$%:;&c1%*&%*+1$& +M5*#.4+&1.&C-$(;&I*+&5(.,-)+$,&/(.V%&$+#00:& /(4)#%15&#./&"#$%0:&.#%1(.#01,%15& *#8+&#&"$('(-./&$+#,(.&%(&)#>+&#.&+''($%&'($& #$4-)+.%#%1(.&%*+:&,5#$+/&#H#:&%*+&"("-0#5+;& B+41(4+0/&#,&%*+$+&#$+&.(&5*#$1%#30+&#,"+5%,& I*1,&5*#.4+/&1.&%*+&O_]7,&H*+.&%*+&L$+14+0/& 5(..+5%+/&H1%*&1%;& )(8+)+.%&)1M+/&H1%*&#.%*$("(,("*:&#./&%*+& International Journal of Community Currency Research 15 (2011) D 17-21

18

IJCCR The Regiogeld System

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

O!','"!?%D"'>*#',')!->X?!/!#"%&!?E'!$,-%/,#%,&E' +*--,O*#,/%.!',&?')D)/,%&,O-!'-%>!'

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

H_2`I'%&'=#&)/,?/'0&!,#':#>D#/8',&?'KWW3'/2!'

HF*-,&?I'%&'1#!"!&9'C2!'#!,-'O#!,N/2#*D$2' 2*(!.!#'(,)'%&'/2!'<!,#'KWW7'(2!&'a,-?*#>' )+2**-'/!,+2!#'[2#%)/%,&'B!--!#%'/*$!/2!#'(%/2' V')+2**-$%#-)')/,#/!?'/2!'H[2%!"$,D!#I'%&'/2!' )",--'1,.,#%,&'.%--,$!'_#%!&'0B!--!#%'KWW46'Vb89' G/#*&$-<')D;;*#/!?'O<'/2!';,#!&/)'/2!'

[2%!"$,D!#'(,)'.!#<')D++!))>D-9'L&' +*&)!MD!&+!'*>'/2!'2D$!',//!&/%*&'O<'/2!'",))' "!?%,'",&<';!*;-!'>#*"',--'*.!#'B!#",&<'

(!#!'!&/2D)!?',&?'(,&/!?'/*'+#!,/!'/2!%#'*(&' -*+,-'"*&!<9'Z!&+!','+*&$#!))'(,)'2!-?',&?' ,//!&?!?'O<'3bW';!*;-!9'cD!'/*'/2!'$#!,/' %&/!#!)/',++*";,&<%&$'/2!'>*D&?,/%*&'*>' ?*A!&)'*>'F!$%*$!-?'%&%/%,/%.!)'%&'B!#",&<'/2!'

HF!$%*$!-?XU!/A(!#NI'(,)'!)/,O-%)2!?'%&'KWW7' /*'*#$,&%A!',&?'%&%/%,/!'/2!'!^+2,&$!'*>' N&*(-!?$!9'C2%)'&!/(*#NE'KWWV' %&)/%/D/%*&,-%A!?',)'#!$%)/!#!?'D"O#!--,' ,))*+%,/%*&'0F!$%*$!-?'!9d98E'*#$,&%A!)' "!!/%&$)'/(%+!','<!,#E';#*.%?!)'",&D,-)'>*#' O!$%&&!#)E'+,#!)'>*#';DO-%+'#!-,/%*&'!/'+!/!#,'P' ,-/*$!/2!#'%/'?!@%&!)E'?!.%)!)',&?'?%))!"%&,/!)' /2!'%?!,'*>'F!$%*$!-?9'

What is the status quo? 1 =++*#?%&$'/*'/2!',D/2*#e)'#!)!,#+2'/2!#!',#!',/' /2!'"*"!&/',O*D/'Q7'F!$%*$!-?';#*R!+/)'%&' B!#",&<9'f&-<'3b'*>'/2!"',#!'&*/'%&'/2!'

D"O#!--,',))*+%,/%*&',&?'"*)/'*>'/2!)!',#!'

2!,.%-<'",#N!/%&$X*#%!&/!?';#*R!+/)9'7K',#!'%&' ;#!;,#,/%*&E'(2%-!'KV',#!',+/%.!9'="*&$'/2!)!' ,+/%.!';#*R!+/)'KW'D)!'/2!':D#*XO,)!?X)<)/!"E' 5'D)!'/2!'$**?)X,&?X)!#.%+!XO,)!?')<)/!"',&?' /2!'#!",%&%&$'K',#!'2<O#%?')<)/!")9'=-/*$!/2!#' /2!<'!"%/',&'!)/%",/!?',"*D&/'*>'QWWEWWW'/*' YWWEWWW':D#*)9'Z*(!.!#E'V5'g'*>'/2%)'O!-*&$)' /*'/2!'[2%!"$,D!#'(2!#!,)'/2!',.!#,$!'

F!$%*$!-?';#*R!+/'2,)'*&-<',#*D&?'3WEWWW' :D#*)'%&'+%#+D-,/%*&9'K =-)*'/2!'&D"O!#'*>';,#/%+%;,/%&$'OD)%&!))!)'%)' )/#*&$-<'.,#<%&$9'G*"!';#*R!+/)'2,.!'*&-<',' 2,&?>D-E'*/2!#)'2,.!'2D&?#!?)9'Z*(!.!#E' "*)/-<'>!(!#'/2,&'3WW'OD)%&!))!)';,#/%+%;,/!' %&'/2!',.!#,$!'F!$%*$!-?';#*R!+/9'7'C2%)'%)'%&' >,+/',';#*O-!"E'O!+,D)!'P',)','#!)!,#+2';#*R!+/' 2,)'>*D&?'*D/'P','F!$%*$!-?';#*R!+/'&!!?)',/' -!,)/'KWW'.!&?*#)'/*';#*.%?!',')D>@%+%!&/'#,&$!' *>'$**?)',&?')!#.%+!)'0d*-N",&&'KWWY6'YK89' =&?'&*/'*&-<'/2!'MD,&/%/<E'OD/',-)*'/2!'MD,-%/<' *>'/2!'OD)%&!))!)'%)'%";*#/,&/9'L&'/2!'$**?)X ,&?X)!#.%+!)XO,)!?')<)/!")'",%&-<')!"%X ;#*>!))%*&,-'OD)%&!))!)'-%N!',-/!#&,/%.!E' !)*/!#%+',&?',#/%)/%+')!#.%+!)'*#'MD%/!' );!+%,-%)!?')2*;)',#!'>*D&?9'G*'>,#'*&-<'/2!'

[2%!"$,D!#';#*.%?!)',')D>@%+%!&/'#,&$!'*>' ;#*?D+/)',&?',/'/2!'),"!'/%"!',&',?!MD,/!' );,/%,-'?!&)%/<'*>')2*;)'/*'#!,--<'(*#N'*D/'%&' ?,%-<'-%>!'01%+N!-",&&'KWW46'V489' 1D/'(2<'%)'/2!'[2%!"$,D!#')*')D++!))>D-h'C2%)' MD!)/%*&'&!!?)'!";%#%+,-'%&.!)/%$,/%*&9'G*'>,#' *&-<',))D";/%*&)'+,&'O!'",?!9'S%#)/-<E'/2!' %&%/%,/*#'%)','",&'(%/2'!&/#!;#!&!D#%,-')N%--)' ,&?','2%$2'+*""%/"!&/'P'>*#')!.!#,-'<!,#)'

International Journal of Community Currency Research 15 (2011) D 17-21

19

IJCCR The Regiogeld System

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

What does the future bring?

G'"0$JEEY$."$JEEZ8$.%&'&$#9)$9$(/!6$"*$ *"'09./"!$A""04$[@&'7#%&'&$/!$\&'09!7$ H&;/";&,6$1'"2&3.)$911&9'&64$5/!3&$JEEZ$#&$ %9@&$"A)&'@&6$9$3&'.9/!$),"#6"#!$9!6$&@&!$ .%&$3",,91)&$"*$)&@&'9,$/!/./9./@&)4$R.$)&&0)$.%9.$ L&.M)$!"#$.9(&$9$ 6&)1/.&$&N.&!)/@&$09'(&./!;8$/.$/)$@&'7$%9'6$*"'$ )%"'.$,""($"!$.%&$ It seems that despite extensive H&;/";&,6$."$93%/&@&$933&1.9!3&$9!6$.%&'&*"'&$ "@&'9,,$).'+3.+'&)$"*$ 9$)/;!/:/39!.$1&!&.'9./"!$"*$.%&$'&;/"!9,$ marketing, it is very hard for .%&$9@&'9;&$ Regiogeld to achieve acceptance H&;/";&,64$B%&$3"'&$ 09'(&.)4$[)1&3/9,,7$/!$A/;;&'$3/./&)$9!6$ &3"!"0/39,,7$+!6&'6&@&,"1&6$'&;/"!)$.%&'&M)$ and therefore a significant "*$&93%$)7).&0$/)$ "!,7$,/..,&$A+)/!&))$@",+0&$#/.%$H&;/";&,64$ 0").,7$9$)09,,$;'"+1$ ]97A&$H&;/";&,6$!&&6)$&N/)./!;$=&3"!"0/3$9!6$ penetration of the regional "*$@",+!.&&')$0").,7$ )"3/9,>$!&.#"'()$#%/,&$/.$%9'6,7$3'&9.&)$.%&04$ markets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

International Journal of Community Currency Research 15 (2011) D 17-21

20

IJCCR The Regiogeld System

Endnotes

References

!!"#$!%&!'&(!)*&+$,,-&./'!/.0!&*1/.-2/%-&./'!'$3$'!-%!-,!0-+4-5#'%!%&!

X/*%,59J!TY.%$*!<@UUOA!"-$!DZ[\X$($1#.1!]-'3-&!T$,$'',7!

1$%!/5%#/'!/.0!*$'-/6'$!0/%/7!89$!.#:6$*,!)*$,$.%$0!9$*$!5&:$! T$,59-59%'-59$*!T*#.0*-^!@FU@!\!@UU>_UPJ!<T/#`$J!aY%B$.6#*1A +*&:!%9$!;$1-&1$'0!#:6*$''/!/,,&5-/%-&.!<;$1-&1$'0!$7=7!>?@?A! X-5`$':/..J!b..$%%$!<>??UA!c'$-.1$'07!W&.$%d*$! /.0!($*$!#)0/%$0!(-%9!%9$!'/%$,%!/3/-'/6'$!-.+&*:/%-&.!+*&:!%9$! ;$1-&./'-,-$*#.1!0#*59!;$1-&1$'0!/',!Z$*`2$#1!-:!

3/*-&#,!)*&B$5%,!9&:$)/1$,7 ;$1-&./':/./1$:$.%7!e.)#6'-,9$0!0-)'&:/!%9$,-,J!e.-3$*,-%S! "!89$!+&''&(-.1!$C/5%!.#:6$*,!/*$!6/,$0!&.!%9$!/,5$*%/-./6'$! &+!8*-$*J!"$)/*%:$.%!&+!1$&1*/)9S! )*&B$5%,!<D!E!@FAG!%&%/'!/:&#.%!&+!;$1-&1$'0!-.!5-*5#'/%-&.!+*&:!

X*/.0J!c/*'\Z$*.$*!<@UUFA!fg#:/.-,%-,59$*!W-%%$'`'/,,$\ /''!)*&B$5%,!$H#/%$,!IFFJK?L!M#*&,N!/*-%9:$%-5!:$/.!-,! ;/0-`/'-,:#,R7!Q.!g$'':/..J!c/-\e($!/.0!;##0!c&&):/.,!<M07A! OPJF?L!M#*&,!/.0!:$0-/.!-,!6$%($$.!@@J???!/.0!@>J???!M#*&,7! h/*/0-1:$.!0$*!X$($1#.1,+&*,59#.17!Z$,%0$#%,59$*!=$*'/1G! Q%R,!.&%!$/,S!%&!$,%-:/%$!9&(!:#59!%#*.&3$*!-,!5*$/%$0!6$5/#,$! [)'/0$.N!))7!PP\K? -%!-,!,#))&,$0!%9/%!;$1-&1$'0!5-*5#'/%$,!(-%9!/!9-19$*!3$'&5-%S! %9/.!%9$!M#*&!<T$''$*-!>??UG!LOA7!89$!V9-$:1/#$*!*$)&*%,!%&!

V9-$:1/#$*!<>?@?AJ!3-$($0!b#1#,%!@I!>?@?J 5*$/%$!/!S$/*'S!%#*.&3$*!&+!O!W-''-&.!M#*&,!(-%9!-%,!K??J???! !9%%)G__(((759-$:1/#$*7-.+&_#)'&/0,_:$0-/_V9-$:1/#$*\ M#*&,!-.!5-*5#'/%-&.!<V9-$:1/#$*!>?@?A7 ]%/%-,%-`i?@7)0+! #!!MC/5%!.#:6$*,!<D!E!>LA!/*$G!)/*%-5-)/%-.1!6#,-.$,,$,!*/.1$!

V*$#%2J!g$':#%!<@UUPA!"/,!T$'0\]S.0*&:7!Z$1$!2#!$-.$*! +*&:!@L!%&!KFON!/*-%9:$%-5!:$/.!-,!@??!/.0!:$0-/.!-,!L>7!>?! `*-,$.+*$-$.!W/*`%(-*%,59/+%J!<=$*'/1!W/-.2J!b/59$.A )*&B$5%,!9/3$!'$,,!%9$.!@??!)/*%-5-)/%-.1!6#,-.$,,$,J!&.'S!O!9/3$! :&*$!%9$.!>??7 j-,9$*J!Q*3-.1!<@UPPAG!]%/:)!]5*-)J!<b0$')9-!V&:)/.SJ!D$(! k&*`A T$''$*-J!V9*-,%-/.!<>??UA!fV9-$:1/#$*!;$1-&:&.$SG!89$&*S!/.0! h*/5%-5$!&+!/!a&5/'!V#**$.5SR7!Q.%$*./%-&./'!l&#*./'!&+!

V&::#.-%S!V#**$.5S!;$,$/*597!=&'!@PJ!))7L@\IK T$,$''J!]-'3-&!<@UOU!m@U@LnA!"-$!./%Y*'-59$!Z-*%,59/+%,&*0.#.1!

0#*59!j*$-'/.0!#.0!j*$-1$'0J!<;#0&'+!o-%2:/..!=$*'/1J!a/#+!6$-!

DY*.6$*1A c$..$0SJ!W/*1*-%!<@UU@A!T$'0!&9.$!o-.,$.!#.0!Q.4'/%-&.J! <T&'0:/..J!WY.59$.A! a-$%/$*J!X$*./*0!<>??>A!"/,!T$'0!0$*!o#`#.+%G!p6$*!0-$!

2$*,%q*$*-,59$!Z-*`#.1!0$,!$C-,%-$*$.0$.!T$'0,S,%$:,!#.0! b'%$*./%-3$.!9-$*2#J!<;-$:/..!=$*'/1J!WY.59$.A D-$0$*$11$*J!T$*9/*0!<@UUIA!"/,!j*$-1$'0\]S.0*&:G!jY*!#.0!

Z-0$*!$-.!/'%$*./%-3$,!T$'0,S,%$:J!<=$*'/1!+Y*!M%9-`!#.0!

T$,$'',59/+%J!Z-$.A [.`$.J!Z$*.$*!<@UUIA!W&0$''3$*,#59$!:-%!,&2-/')4'-59%-1$:!

X&0$.!#.0!T$'0J!<=/*$'J!['0$.6#*1A ;$1-&1$'0!$7=7!<>?@?AJ!3-$($0!b#1#,%!@I!>?@?J!9%%)G__ (((7*$1-&1$'070$ ]59*&$0$*J!;&'+!<>??LA!fV&::#.-%S!MC59/.1$!/.0!8*/0-.1! ]S,%$:,!-.!T$*:/.SR7!Q.%$*./%-&./'!l&#*./'!&+!V&::#.-%S! V#**$.5S!;$,$/*597!=&'!@?J!))7!>O\O> ]%$-.$*J!;#0&'+!<@U@UA!"-$!c$*.)#.`%$!0$*!,&2-/'$.!j*/1$!-.!0$.! a$6$.,.&%($.0-1`$-%$.!0$*!T$1$.(/*%!#.0!o#`#.+%J!<;#0&'+! ]%$-.$*!=$*'/1J!"&*./59A ]%$-.$*J!;#0&'+!<@U>>A!D/%-&./'q`&.&:-,59$*!c#*,J!<9%%)G__ (((70*$-1'-$0$*#.170$_0&(.'&/0_PO?7)0+!m?L7?O7>??UnA =&'`:/..J!c*-,%$*!<>??FA!;$1-&./'!\!#.0!%*&%20$:!1'&6/'7! ]&'-0/*-,59$!r`&.&:-$!-:!])/..#.1,+$'0!2(-,59$.!;$1-&./'-%d%! #.0!T'&6/'-%d%7!M-.$!$C)'&*/%-3$!]%#0-$!2#!;$1-&./'(d9*#.1$.J! <a-%!=$*'/1J!WY.,%$*A Z$*.$*J!g/.,\l&/59-:!<@UFUA!T$,59-59%$!0$*! j*$-(-*%,59/+%,6$($1#.1J!<Z/C:/..J!D$(!k&*`A

International Journal of Community Currency Research 15 (2011) D 17-21

21

What have Complementary Currencies in Japan really achieved?

Revealing the hidden intentions of different initiatives

IJCCR

Yasuyuki Hirota mig@olccip.net http://www.olccip.net

Abstract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

Introduction

International Journal of Community Currency Research www.ijccr.net

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

A brief history of CCs in Japan up to the “boom”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

International Journal of Community Currency Research 15 (2011) D 22-26

22

IJCCR CCs in Japan

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

48&67.&6.e6E44B<&4(&II<&9(&67.&H';'(.<.& ='(>@'>."&&&G7.&II&:4?.:.(6&5.'D7.)&96<& D=9:'e&9(&H';'(&9(&+,,$&'()&<9(D.&67.(&<6'56.)& 64&).D=9(.&>5')@'==-&)@.&64&67.&5.'<4(<&64&E.& :.(694(.)&='6.5"&

:.(694(9(>&19=?94&Y.<.==F&'()&)988.5.(6&II& 9(969'69?.<&<@D7&'<&67.&<6':;&<D59;&'6&_`5>=F& A@<659'F&'&G'@<D759(>&'6&['==.F&Y.5:'(-F&a67'D'& [4@5<&'6&a67'D'F&LbF&0(96.)&16'6.<&'()&67.& _acS'(BF&67.&1396d.5='()F&9(&'))9694(&64& 9(6.5?9.3<&64&W'5>596&\.((.)-&'()&S.5('5)& P9.6'.5"

i !"#$%&'(#)*#()/-01#2)&3.&D'5.6'B9(>&845&67.& .=).5=-F&.<;.D9'==-&845&674<.&374&<@88.5&854:& 67.&<4D9'=&.eD=@<94(&E-&?9<969(>&67.:&'()& =9<6.(9(>&64&67.95&6'=B

G79<&;54>5'::.&>'?.&59<.&64&67.&VE44:Z&48&II<& 9(&H';'("&&A&(@:E.5&48&>5'<<X5446&>54@;<& <743.)&679<&?9).4&64&6.'D7&:45.&;.4;=.&67.& 9:;456'(D.&64&@<.&II<&'()&'D6@'==-&)4d.(<&48& PQG1&'()&467.5&<456<&48&II<&3.5.&E45(&/E'E-X E44:.5X>.(.5'694(&II%&'<&;.4;=.&3.5.& 9(<;95.)&E-&679<&)4D@:.(6'5-"&&A&E44B&696=.)&'<& VQ().X(4&b@9>4(Z&/L[\&N@E=9<79(>%&3'<& ;@E=9<7.)&9(&+,,,&'()&9<&<69==&5.8.55.)&64&'<&4(.&

&[9<&).6.5:9('694(&64&@<.&QD4:4(.-&.eD=@<9?.=-& 845&<@D7&'D69?969.<&3'<&5.9(845D.)&9(&+,,*&37.(& 7.&).D='5.)&'<&84==43<&9(&79<&E44Bh

Some Japanese CCs during and just after the “boom” Toshiharu Katô’s “Ecomoney”: a CC promoted by a MITI bureaucrat

G7.&VQD4:4(.-Z&7'<&:').&<9>(9f9D'(6& 8446;59(6<&4(&67.&H';'(.<.&II&<D.(.&E.D'@<.&96& 3'<&).<9>(.)F&;54;4<.)&'()&;54:46.)&E-& G4<797'5@&\'6OF&67.(&)95.D645&48&67.&1.5?9D.& G7.5.&3.5.& a()@<659.<&K9?9<94(&'6&67.&W9(9<65-&48&G5').&'()& The currency movement’s boom 467.5&II& !

9(969'69?.<&379D7& a()@<65-&/WaGa% F&'&:9(9<65-&9(6.5('694('==-& in Japan was triggered by the 7')&E..(&<.6&@;& 'DB(43=.)>.)&E-&96<&<B9==&845&.D4(4:9D& success of a TV documentary ;='((9(>&<@D7&'<&H47(<4(&/*Jg+%"&&AD6@'==-&79<& '=5.')-&E.845.& 9(?4=?.:.(6&3967&II&E.>'(&9(&*JJgF&.?.(& called “Ende’s Money-Go*JJJF&<@D7&'<& .'5=9.5&67'(&VQ().T<&W4(.-XY4XA54@()FZ&37.(& Around”, originally broadcast in G9:.&K4=='5& 7.&;@E=9<7.)&79<&f95<6&E44B&696=.)&'<&QD4:4(.-F& L.6345B&H';'(& 1999 379D7&3'<&'D69?.& ).f9(.<&96&'<&V'&:4(.-&9(&67.&+*<6&D.(6@5-& 379D7&9<&'(&9(6.5:.)9'5-&48&'&?'59.6-&48&<486& E.63..(&*JJ!& 9(845:'694(F&<@D7&'<&67.&.(?954(:.(6F& $ '()&+,,M&'()&67.&N.'(@6< &9(&I79E'&/(.'5& D'5.6'B9(>F&3.=8'5.F&D4::@(96-&'()&D@=6@5.& GOB-O%F&'D6@'==-&'&PQG1&379D7&<6'56.)&9(& /<9D%Z&/\'64&/*JJg%%F&'=674@>7&).6'9=<&3.5.&(46& R.E5@'5-&*JJJ"&&A=674@>7&N.'(@6<&9<&<69==& D=.'5"&&A6&679<&<6'>.&7.&3'<&.e;=459(>&67.&D7'(D.& 345B9(>&3967&<4:.&467.5&'D69?969.<F&(4& 64&'==43&.eD7'(>.<&48&D4::.5D9'=&>44)<&'()& <6'69<69D<&'5.&'?'9='E=.&64&65'D.&96<&.D4(4:9D& <.5?9D.<F&'DD.(6@'69(>&96<&54=.&'<&'&<69:@=@<&845& 9:;'D6&4(64&67.&D4::@(96-" 67.&=4D'=&;54)@D694(&'()&D4(<@:;694(F& S@6&96&9<&<'8.&64&<'-&67'6&67.&II&:4?.:.(6T<& '=674@>7&79<&'66'D7:.(6&64&:@(9D9;'=969.<&'<& E44:&9(&H';'(&3'<&659>>.5.)&E-&'&<@DD.<<&48&'& <;7.5.<&845&II&3'<&'=5.')-&f95:F&?.5-&)988.5.(6& GU&)4D@:.(6'5-&D'==.)&VQ().T<&W4(.-XY4X 854:&c.>94&9(969'69?.<&9(&Y.5:'(-F&845&9(<6'(D."&& A54@()ZF&459>9('==-&E54')D'<6&4(&L[\&S1X+&4(& Qe':;=.<&9(&379D7&79<&VQD4:4(.-Z&34@=)&E.& ,!67&W'-&*JJJ&'()&5.E54')D'<6&<.?.5'=&69:.<"&& @<.)&'5.&>9?.(&'<&84==43<h G79<&#,X:9(@6.<&;54>5'::.&E.>'(&3967&'& i !"#$%&'(#)*#$+%#%",-&)"'%"$.&5.D-D=9(>F& 6.<69:4(-&E-&W9D7'.=&Q().&/*J+J]*JJ^%F& ;9DB9(>&@;&>'5E'>.&4(&67.&59?.5F&'6&67.&;'5B& Y.5:'(&8'E@=9<6&8':4@<&845&9<&345B<&<@D7&'<& '()&467.5&;@E=9D&8'D9=969.<&45&;='(69(>&65..<" VW4:4Z&'()&VA&L.?.5XQ()9(>&1645-ZF&

i !"#$%&'(#)*#%45/0$-)"#0"4#/51$5&%.& :'9(6.('(D.&48&=4D'=&84=B=45.F&=.<<4(<&4(&NI

!!"#$!%&'!&$!()*!'*+&(,-.$),/!0*(1**.!()*!

23-4-.*5!&.6!()*!4-.*(&'5!*3-.-45!,$!

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9--6$!&.6:-'!$*';,3*$!6,'*3(+5!&(!()*!4&'<*(!,.!

23-4-.*5=!!>)*!8.+,4,(*6!3-..*3(,-.!-%!()*!

23-4-.*5!?,*+6!@;-+8.(&'5!*3-.-45A!1,()!()*!

International Journal of Community Currency Research 15 (2011) D 22-26

23

IJCCR CCs in Japan

!"#$%&'()$*"#"!()+",-.).$/$#$'&%$)0*"!"#$()1#%") &#"%2$')!"#$()&#.3"')#"%$45))62$'$)+",-.)&-4")7$)4"!$) *"#8-1*%4)+1%2)%2$)9%&%$:4)'1/2%)%")144,$)%2$)*,''$#*()&4)+$--) &4)+1%2)%2$)814*&-)-&+)4(4%$!!"#$%&"'())*+

$6605%$260"98"%-0"B0D8".//:0D/"10$2/"%-$%"%-0.D"^309%!"%4" %-./"6411:2.%8"./"^D05$.3H!"_

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`/"6-0W:0"./"F4D%-"3.;;0D02%A8";D41" G6414208"14B0102%"4D".230502302%A8"30B0A4503"9:%" 4%-0D/H""U410"CC/"-$B0"$345%03"/:6-"$"/8/%01>"9:%"24" A0$D2.2@";D41"#$%&>"F.%-"%-0"/4A0"$.1"%4"02@$@0"14D0" 3$%$"./"$B$.A$9A0"42"%-0"$14:2%"4;"%D$2/$6%.42/".2"/:6-" B4A:2%00D/"%4"/:6-"$6%.B.%.0/H"I4%-"9:D0$:6D$%/"$%"3.;;0D02%" CC/H 1.2./%D.0/"$23"4;J.60D/"$%"1:2.6.5$A"$23"5D0;06%:D$A"A0B0A" MIAC CC initiatives: whom were they for?

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a0%F4D?"U8/%01"'TITaU+"906$:/0".%"F$/" A46$A"064241.0/H 2060//$D8"%4"-$B0"$"TITaU"6$D3"%4"K4.2"/:6-"CC/>";4D6.2@" 7$5$20/0"2$%.42$A/"D0/.3.2@".2"7$5$2"%4"$6W:.D0"%-./"6$D3" $23"0X6A:3.2@"%-4/0"F.%-4:%"%-0"7$5$20/0"6.%.E02/-.5" '94%-"D0/.302%/"$23"%4:D./%/+"$23"7$5$20/0"6.%.E02/"A.B.2@" $9D4$3"$/"TITaU"42A8"30$A/"F.%-"7$5$20/0"2$%.42$A/" QR,/8/%01"F$/"30/.@203"98"G..6-."<4D.24>"5D0/.302%"4;" S0/0AA"T0/0$D6-"U46.0%8"7$5$2"'STU7+V"$23"$AA4F/"$289438" A.B.2@".2"7$5$2H""=2"%-0"J./6$A"80$D"())L"'R5D.A"())LP<$D6-" ())b+"<=RC".15A0102%03"J.B0"TITaUP9$/03"0A06%D42.6" %4".//:0"%-0.D"4F2"6:DD0268"$/"6-0W:0>"$/"%-0".2B02%4D" 90A.0B0/"%-$%"%-0"B0D8"0X./%0260"4;"602%D$A"$31.2./%D$%.42" A46$A"6:DD0268"/8/%01/"$23"0$6-"5D4K06%"/502%"90%F002" $%"YG,U"$23"4%-0D"/8/%01/"D:2/"%-0"D./?"4;"642602%D$%.2@" 7Nc"(dHdbL"%4"e)"1.AA.42"'fUg"(b_>)))"%4"ee)>)))+"%4"/0%" 54F0D"42".%H""R289438"6$2"34F2A4$3"$23"5D.2%"%-0";4D1$%" :5"%-0".2;D$/%D:6%:D0H",-./"@020D$%03"A0//"%-$2"*"1.AA.42" 54.2%/"]"7Nc"*"1.AA.42"'fUg"**>)))+"$%"0$6-"5D4K06%"0X605%" 4;"QR,U8/%01>"J.AA".%"4:%"$23":/0/".%";4D"%-0.D"5$8102%/>" R1$>"U-.1$20"F-0D0"$AA"A46$A"9:/.20//0/"$6605%03"h$-2>" $//:D.2@"%-$%"%-08"F.AA"@.B0"%-./"6-0W:0Z/"90$D0D"%-0" .%/"0A06%D42.6"A46$A"6:DD0268"3:D.2@"%-0"5D49$%.42"50D.43" 0W:.B$A02%"$14:2%"4;"@443/"$23[4D"/0DB.60/H\"",-./" 6-0W:0"./"6.D6:A$%03"$142@"%-4/0"F-4"%D:/%"%-0".//:0D/" 'i060190D"())L"$23"7$2:$D8"())b>"0X605%"R/4>" '24%"2060//$D.A8"%-4/0"F-4"?24F"%-01"F0AA>"906$:/0"%-0" #:1$14%4"F-0D0"%-0"0X50D.102%$%.42"A$/%03";D41" A./%"4;"D06.5.02%/"]"0234D/0D/"02$9A0/"5045A0"%4"%D:/%"%-01" a4B0190D"())L"%4"<$D6-"())b+H"".2"6$/0"4;"I055:>"O.%$" %-0"D:22.2@"64/%"50D"80$D"F$/"0/%.1$%03"%4"90"/410"7Nc"d" F.%-4:%"-$B.2@"5D0B.4:/"3.D06%"642%$6%+"$23".%/" 1.AA.42"'fUg"dd>*))+"$23".%"./"34:9%;:A"F-0%-0D"%-0" .2%D43:6%.42"4;"/:6-"$2"$3B$2603"%06-24A4@8"F$/" 2060//$D8"4D"24%";D41"%-0"064241.6"B.0F54.2%H""h4F0B0D" %-0"$9/0260"4;"%-4/0"F-4"30;8"%-0"A0$30D/"4;"%-0/0" 5D4K06%/"$AA4F/"%-01"%4".15A0102%"F-$%0B0D"1$8"/0DB0" ;4D"%-01/0AB0/"F.%-4:%"-$B.2@"%4"F4DD8"$94:%"%-0"64/%P 9020J.%"$2$A8/./H

WATsystems6: total abolition of central authority

Recent currency schemes to emerge Revival of old coins as local currency at Kanâ&#x20AC;&#x2122;onji, Kagawa

Figure 1: Example of a typical WATSystem note (front and reverse)

R"A46$A"@D4:5"$%"#$2Z42K.>"#$F$@$"6$AA03"i45.?$2"#$2Z42K."" *)"$24:2603".2"j09D:$D8"()*)"%-$%";D41"R5D.A"A46$A" 9:/.20//0/"$%"%-./"6.%8"F4:A3"/%$D%"$6605%.2@"#$2Z0.",/k-&>" $2"$AD0$38"$94A./-03"64.2"F-.6-"F$/"%06-2.6$AA8"$"A0@$A" 6:DD0268"$AA"4B0D"7$5$2";D41"*beb"%4"*_Le>"$/"0W:.B$A02%" 4;"e)"802"'$94:%"fUg)Hee+>"$A%-4:@-"%-0"1$D?0%"5D.60"4;" %-./"64.2"$142@"64AA06%4D/"./"10D0A8"90%F002"*)"$23"()"

International Journal of Community Currency Research 15 (2011) D 22-26

24

IJCCR CCs in Japan

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

%D(%'-%E.'("%,?6',.-%()*(%()'-%/,0*/%73,.<%'-% 3"E.'3"5%(,%)*6"%*%0,#-'5"3*?/"%*+,.#(%,4% 3"-"36"%'#%A*<*#"-"%!"#%-,%()*(%/,0*/% ?.-'#"--"-%-),./5%;,'#%()'-%'#'('*('6"1%%%F,% '#4,3+*(',#%)*-%?""#%3"/"*-"5%-,%4*3%*?,.(%()"% 4.#5%(,%?*0G%()'-%,.(5*("5%0,'#$%?.(%'(%'-%"*-'/!% 4,3"-""#%()*(%()'-%<3,;"0(%&'//%0,+"%(,%*#%"#5% &)"#%H,<'G*#%9*#:,#;'%3.#-%,.(%,4%()"%4.#5$%-,% ()'-%<3,;"0(%'-%<"3%-"%.#-.-(*'#*?/"1

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

Japanese promoters and practitioners have pursued different goals than their Western counterparts, resulting in a range of different - and sometimes bizarre objectives and consequences.

Back to the rice standard: another local currency at Toyota, Aichi %I%;,'#(%"#("3<3'-"%0,,<%0*//"5%MN.(-.?.(-.% 9KG*#%9!,G.OPP%QN99$%MN*3("3%N.3"*.O%'#%

%I#,()"3%4*(*/%+'-(*G"%,4%8.-.?'%'-%()*(%()"-"% ?'//-%*3"%3"5""+*?/"%(,%?3,&#%3'0"%,#/!%.<%(,% ()"%"#5%,4%Z0(,?"3$%()"%+,#()%,4%#"&%)*36"-(1%%% 2)'-%<3*0('0"%'-%0,#(3*5'0(,3!%(,%()"%,3'7'#*/% '5"*%,4%5"+.33*7"$%&)'0)%5,"-%*//,&%?'//-%(,% 0'30./*("%,6"3%('+"%&)'/"%'(%73*5.*//!%/,-"-%'(-% 6*/."$%?.(%()"%'--."3%5,"-%#,(%0*3"1%%%2)"3"4,3"% ()"%.-"%,4%()"%&,35%M5"+.33*7"O%'-%3*()"3%*% 0*(0)L&,35%(,%*((3*0(%<",</":-%0.3',-'(!%()*#%*% ()",3"('0*//!L&"//L5,#"%5"-'7#1

Conclusion I-%()'-%<*<"3%)*-%5"+,#-(3*("5$%'(%'-%(3."%()*(% A*<*#%0*#%?,*-(%*#%*+,.#(%*#5%6*3'"(!%,4% 0,+</"+"#(*3!%0.33"#0'"-%()*(%0*##,(%?"% 4,.#5%"/-"&)"3"%'#%()"%&,3/51%%Y<"0'*/% *(("#(',#%-),./5%?"%<*'5$%),&"6"3$%(,%()"%4*0(% ()*(%A*<*#"-"%<3,+,("3-%*#5%<3*0('(',#"3-% )*6"%<.3-."5%5'44"3"#(%7,*/-%()*#%()"'3% V"-("3#%0,.#("3<*3(-$%3"-./('#7%'#%*%3*#7"%,4% 5'44"3"#(%L%*#5%-,+"('+"-%?'W*33"%L%,?;"0('6"-% *#5%0,#-"E."#0"-1%%

International Journal of Community Currency Research 15 (2011) D 22-26

25

IJCCR CCs in Japan

!"#"$%&'()**+&,'-+".'#/)$,')$',+01&'/2'33')&',4",' Endnotes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

%'4,,#GHH++1>J#HJ#H'P)$'!"#"$+&+Q &'4,,#GHH--->-",&<&,+1&>$+,H'P)$'!"#"$+&+:'S$*7)&4'

"$8'T+01"$Q ''4,,#GHH--->*0&J>/0*H'P)$'!"#"$+&+Q ('?4+/0+,)6"77<'&#+".)$*:'$/0',4+'8/-$7/"8"(7+'

2/01",')&'$+6+&&"0<',/')1#7+1+$,',4)&'&<&,+1G'"77' -4",')&'$++8+8')&',4",'#+/#7+'"*0++',/'9&+',4+&+' 6/9#/$&'"&',4+)0'1+"$&'/2'+@64"$*+'"&'U)+,"+0' PMNNNQ'#9,&'),> )'?4+')&&9+0'*)5+&'/$7<',4+'0)*4,'#"0,',/',4+',0"8+'

#"0,$+0'"2,+0'D)77)$*'A'P0+6)#)+$,%&'$"1+Q:'E'P)&&9+0%&' $"1+Q'"$8'8",+'"$8'&,"1#)$*'/$',4+'V69,'4+0+W'7)$+':' .++#)$*',4+'7+2,'/$+'"&'"'0+1)$8+0 !*'4,,#GHH8/#)."$>J#H'P)$'!"#"$+&+Q !!'4,,#GHH*0++$&X$+,>6/1H(9,9(9,9H/2D)6+H'P)$'

!"#"$+&+Q !"'?4+'&,"$8"08'!"#"$+&+'-/08'2/0'V0)6+'("77W')&'

V/$)*)0)W:'(9,'V/19&9()W')&'"7&/'9&+8'')$'&/1+'0+*)/$& !#+A,'),&'-+(&),+'EYY'"$$/9$6+&',/'(9<'(0/-$'0)6+'

20/1'#0/896+0&'",'ZNN'<+$'#+0'.)7/*0"11+:'&/'"' 19&9()'-/978'(+'+B9)5"7+$,',/'[N'<+$'/$'"##7<)$*' ,4)&'0",+>

References !/4$&/$:'34"071+0&'PO\ZMQ'VRC?C'"$8',4+'!"#"$+&+' 1)0"67+:W';,"$2/08'K$)5+0&),<'F0+&&:';,"$2/08>' Y",]:'?/&4)4"09'PO\\ZQ'VS6/1/$+<'^'20/1',4+'()*' ("$*',/'491"$+'&/6)+,<W（エコマネーG'ビッグバンか ら人間に優しい社会へ）:'_)4/$'Y+)I")'`<]0/$&4":' ?].<] Y",]:'?/&4)4"09:'PMNNOQ'V?4+'$+-'6+$,90<'/2' S6/1/$+<W（エコマネーの新世紀）:'Y+)&]'&4/(]:' ?].<] Y+$$+8<:'R"0*0),'"$8'U)+,"+0:'E+0$"08'A>:'PMNNaQ' Vb+*)/$"7-c409$*+$:V'b)+1"$$:'R9$)64

International Journal of Community Currency Research 15 (2011) D 22-26

26

Alternative Exchange Systems in Contemporary Greece Irene Sotiropoulou Department of Economics, University of Greece isotiropoulou@econ.soc.uoc.gr

IJCCR Abstract 8.*+&-"-%#&*+&"& <#*%A&#%-/#,& /A&+%9%#"$& +'.%0%+&,.",&%=*+,& ,/2"3;&F%-,%0<%#&QRMR;&*)&1#%%'%&")2& -%#0*,&,.%*#&0%0<%#+& ,/&-%#A/#0&,#")+"',*/)+&?*,./(,&")3&/AO*'*"$&'(##%)'37&8.%& #%-/#,& '/9%#+& -"#"$$%$& '(##%)'3& +'.%0%+;& %='.")5%& )%,?/#@+& ")2& +%9%#"$& #%$",%2& *)*,*",*9%+& ,.",& '/($2& <%& '."#"',%#*+%2&"+&"$,%#)",*9%&%='.")5%&/#&)/)40"*)+,#%"0&0/2%+&/A&%'/)/0*'&"',*9*,37&

Introduction

International Journal of Community Currency Research www.ijccr.net

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

The Athens Timebank

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nternational Journal of Community Currency Research 15 (2011) D 27-31

27

IJCCR Exchange systems in Greece

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`aM&#-)&($$0&;%$-"$2&&(-)$2&+0&D-"%-)& >+'$&G-01+0:4& ;+".&-02&0-'$2&UA7!,!)&b$)$-%;#&-02& c!;/'$0"-"+!0&E$0"$%&3!%&I!;+-,&E/%%$0;.V& *#+;#&+)&%$)8!0)+(,$&3!%&)/8$%7+)+!0&!3&"#$& The main idea of the Ovolos scheme is that );#$'$6&8%!7+2$)&"#$&'$'($%)&*+"#& the members can use the Ovolos currency 2!;/'$0"-"+!0&-02&8$%3!%'&%$)$-%;#&-;"+7+"+$)4& >#$&'$'($%)&!3&"#$&!%:-0+)-"+!0&#-7$&(.&,-*& (which is virtual, e.g. on the main computer $Y/-,&%+:#")&-02&!(,+:-"+!0)&-02&"#$& system and on each memberâ&#x20AC;&#x2122;s digital smart !%:-0+)-"+!0&+)&"#$&U/'(%$,,-&!%:-0+)-"+!0V&3!%& card) instead of euro currency for their "#$&$0"+%$&);#$'$4&

transactions with members.

The Ovolos Currency in the cities of Patras and Thessaloniki >#$&A7!,!)&8%!C$;"&)"-%"$2&+")&!%:-0+)+0:&+0& N-0/-%.&JKKO&-02&+"&+)&(-)$2&+0&D-"%-)&;+".& HP$)"=I!/"#&;!-)"&!3&"#$&;!/0"%.M&(/"&-,)!&%/0& +0&>#$))-,!0+1+&H)$;!02&'-C!%&;+".&+0&"#$&?!%"#& !3&@%$$;$M6&-)&*$,,4J&<")&'$'($%)&*$%$&-%!/02& QRKK&+0&N/,.&JKLK6&(/"&0!"&-,,&!3&"#$'&-%$& 8-%"+;/,-%,.&-;"+7$6&-,"#!/:#&"#$&-;"+7$& '$'($%)#+8&+)&-"&,$-)"&2!/(,$&"#$&0/'($%& +0+"+-,,.&-00!/0;$2&!0&E!'8,$'$0"-%.& E/%%$0;+$)&2-"-(-)$4S&

>#$&(-)+;&+2$-&($#+02&A7!,!)&+)&"#-"&"#$& ;,-))+;-,&H$4:4&)"-"$M&;/%%$0;+$)6&$)8$;+-,,.&-3"$%& "#$&+0"$%%/8"+!0&!3&$Y/+7-,$0;$&*+"#&:!,2&+0& LOdL6&;%$-"$&)/%=7-,/$)&"#-"&-%$&!/"&!3&;!0"%!,& (.&"#$&$;!0!'.&-02&0!0=%$)8!02+0:&"!&%$-,& $;!0!'.6&$4:4&%$-,&8%!2/;"+!04&E!0"%-%.&"!&"#-"6& "#$&)!;+-,&;/%%$0;.&*+,,&;+%;/,-"$&-02&($& ;!0)/'$2&-)&+"&+)&8%!2/;$24&

5&)+:0+B+;-0"&3$-"/%$&!3&"#$&;/%%$0;.&+)&"#$& 2$)+:0-"+!0&!3&+"e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nternational Journal of Community Currency Research 15 (2011) D 27-31

28

IJCCR Exchange systems in Greece

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29

IJCCR Exchange systems in Greece

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International Journal of Community Currency Research 15 (2011) D 27-31

30

IJCCR Exchange systems in Greece

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`a'>Dbcd]M'30("0'+*+-:+5'(1'8#0+1)'Ee')(1"+' FVVf'!15'J0+))!%.1(4('Eg''(1'FVEVO'73()0(1:'()'!'#+-*' "-+!#+5'.$#'./')3!HH(1:'!15')0.HH(1:'#.'5+)"-(,+'H!-#(+)' 30+-+'H+.H%+',-(1:'#0+(-'"%.#0+)K')0.+)'!15'!""+)).-(+)' !15'"!1'#!4+'.#0+-'"%.#0+)K'+#"'/.-'/-++O'h#'()'!'%(4+'!'/-++' ,!N!!-K'/."$)(1:'.1'"%.#0(1:O'

Epilogue: Other Projects J0+-+'!-+')+9+-!%'.#0+-'H!-!%%+%'"$--+1"&'H-.i+"#)'30("0K' +(#0+-'!-+'(1'H-+H!-!#(.1')#!:+'.-'0!9+'1.#'+//+"#(9+%&' )#!-#+5'3.-4(1:'!#'!%%O' J0+'#3.'H-.i+"#)'.1'#0+'I.*H%+*+1#!-&'I$--+1"&'j.-%5' k!H'%."!#+5'(1'h+-!H+#-!'"(#&K'(1'I-+#+'()%!15K'!-+')#(%%' ,+(1:'5+)(:1+5O'8'H-+9(.$)'H-.i+"#K').*+'&+!-)'!:.K''#0!#' (1#+15+5'#.'+)#!,%()0'#(*+',!14)'(1')+9+-!%'L-++4'"(#(+)' $15+-'#0+')$HH.-#'./'L-++4')#!#+'5(5'1.#')#!-#'!#'!%%K' ,+"!$)+'l(1!1"(1:'H-.9+5'#.',+'m$(#+'5(/l("$%#O'n.3+9+-K' #0+-+'()')#(%%':-!))-..#)'(1#+-+)#'(1'J(*+'o!14)'(1')+9+-!%' H!-#)'./'#0+'".$1#-&O' p1+'3.$%5')!&'#0!#':(9+1'#0+'".1#+*H.-!-&'l(1!1"(!%' "-()()K'!)'3+%%'!)'#0+'H!-#("$%!-')(#$!#(.1'./'L-++4' +".1.*&K'!%%'+W()#(1:')"0+*+)'!-+'./':-+!#'(1#+-+)#' ,+"!$)+'#0+&'+*+-:+'!#'#0+'#(*+'./':-+!#'"0!%%+1:+)'/.-' L-++4'+".1.*&'!15')."(+#&O'J0()'3(%%'!%).'*+!1'#0!#'#0+&' *(:0#'.//+-'+W!*H%+)'.-'+WH+-(+1"+'(1'1.1B*.1+#!-&' +".1.*("'!"#(9(#&'#0!#'3(%%'"-+!#+'1+3'H!##+-1)'./' #-!1)!"#(.1)O'J0+'-+)+!-"0'H-.i+"#K'3(#0(1'#0+'/-!*+3.-4' ./'30("0'#0()'-+H.-#'0!)',++1'H-+H!-+5K'!##+*H#)'#.'

(19+)#(:!#+'#0.)+'1+3'+".1.*("'#-+15)'!15'#0+(-'%(14'#.' #0+':-+!#+-'/-!*+3.-4'./'l(1!1"(!%'".15(#(.1)'#0!#'H+.H%+' ./'L-++"+'!-+'+WH+-(+1"(1:'!#'#0()'#(*+O'

Acknowledgements h'!*':-!#+/$%'#.'q-'r.+%'s.1:0$-)#'G61(9+-)(#&'./'t!)#'81:%(!MK' /.-'0()'".**+1#)'!15')$::+)#(.1)'.1'!1'+!-%(+-'9+-)(.1'./'#0()' H!H+-K'!)'3+%%'!)'/.-'0()'+5(#(1:'!59("+O' J0+'H!H+-'5-!3)'.1'!'u0q'-+)+!-"0''H-.:-!**+'30("0')#!-#+5' (1'2+,-$!-&'FVVfO'J0+'l(-)#'H0!)+'(19.%9+5'm$!%(#!#(9+'-+)+!-"0K' (1'.-5+-'#.'$15+-)#!15'!15'+WH%.-+'#0+'#0+.-+#("!%'/-!*+3.-4' ./'#0+')"0+*+)O'J0+')+".15'H0!)+'Gm$!1#(#!#(9+'-+)+!-"0M'()' )"0+5$%+5'#.')#!-#'(1'q+"+*,+-'FVEVO' J0()'H!H+-'5.+)'1.#'(1"%$5+'!1&',(,%(.:-!H0&'1.-'+9+1'#0+' #0+.-+#("!%'/-!*+3.-4',+(1:'$)+5'(1'#0+'u0q'-+)+!-"0'H-.i+"#K' !)'3+'.H#+5'#.'H-+H!-+'!'*.-+'.-'%+))'X#+"01("!%Y'-+H.-#O'p/' ".$-)+K'!1&'5+l("(+1"&'./'#0()'H!H+-'()'#0+'!$#0.-v)' -+)H.1)(,(%(#&O

Endnotes !''333O+1.3O:-' "'7++'#0+'3+,)(#+'333O.9.%.)O:-O'J0+-+'()'!%).'!':-.$H'3(#0'#0+'

)!*+'1!*+'!#'2!"+,..4K'30+-+'#0+'*+*,+-)'5()"$))'())$+)'G(1' L-++4'.1%&M'!,.$#'#0+(-'"$--+1"&O' #'J0()'()'30!#'0!5',++1'-+:()#+-+5'!#'II'j.-%5'k!H'!,.$#'

p9.%.)'(1'U!1$!-&'FVVfw'0##Hwxx 333O".*H%+*+1#!-&"$--+1"&O.-:x""q!#!,!)+x*!H)x 3.-%5*!HOH0Hy!"#(.1z%()#{)|%+|".$1#-&h5z}eO' $'333O#+*B*!:1()(!O:-' %'k.-+'(1/.-*!#(.1'G(1'L-++4'.1%&M'"!1',+'/.$15'.1'#0+'3+,)(#+'

0##Hwxx333O*.1+&,!"4)&)#+*O:-x0.*+O0#*%O' &'q+#!(%)'./'#0+'H-.H.-#(.1'./'#("4+#)'!""+H#+5',&'+!"0'

H!-#("(H!#(1:'".*H!1&'"!1',+'/.$15'!#'0##Hwxx 333O*.1+&,!"4)&)#+*O:-xtH(W+(-()+()~FV7+H#+*,+~FVFVEVOH5/O' ''333OH+%(#(O:-'J0+-+'()'!%).'!'9+-)(.1'./'#0+'3+,)(#+'(1't1:%()0'

!#'0##Hwxx333OH+%(#(O:-xH!:+)|+1:xH+%(#(|+1:O0#*O' ('81.#0+-'#+-*'$)+5'/.-'#0+*'()'X%!15-!"+)YO' )'333O%.:.B#(*()O:-' !*'0##Hwxx)4.-.)O+)H(9O1+#x' !!'0##Hwxx/-++"&"%+O3(4()H!"+)O".*x/-++"&"%+|:-' !"'333OW!-()+#.O:-' !#'0##Hwxx53)+H!-+O1(1:O".*x !$'333O)3()0(1:O:-' !%'0##Hwxx)3()0(1:B#0+))O,%.:)H.#O".*xO'

International Journal of Community Currency Research 15 (2011) D 27-31

31

Complementary Currencies for Sustainable Local Economies in Central America Erik Brenes PhD Candidate, Universita dellas Calabria / Regional Advisor Andean Region - STRO

IJCCR

brenes@socialtrade.org / brenes@unical.it

Abstract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

Introduction

International Journal of Community Currency Research www.ijccr.net

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he STRO-CA approach *+,&#)$&9%*+./#/(+&9(@+.&'(5$'$+#E 89=:&/+#$%5$+#/(+&/+&;$+#%*3&!'$%/-*&.#*%#$,& A*-I&/+&MNNM&#)%(40)&/#.&("B/-$&/+&O(+,4%*.&*+,& (+$&./+03$&2%(7$-#&("&-('23$'$+#*%6&-4%%$+-6& @/#)&3(-*3&2*%#+$%&;:P!Q&<=$,&,$& ;('$%-/*3/H*-/(+&;('4+/#*%/*&!3#$%+*#/5*?E& K5$+&#)(40)&#)$&2%(7$-#&/.&+(&3(+0$%&.42$%5/.$,& A6&89=:>;!1&#)$&.6.#$'&.#/33&"4+-#/(+.&4+,$%&

89=:>;!&)*.&,$5$3(2$,&*+&/++(5*#/5$& .4.#*/+*A3$&3(-*3&$-(+('/-&,$5$3(2'$+#& *22%(*-)&#)*#&*/'.&#(&-%$*#$&.#%(+01&.#*A3$&*+,& ,/5$%./B/$,&3(-*3&$-(+('/$.1&%$./3/$+#&#(&(4#./,$& .)(-I.&"%('&#)$&@(%3,&$-(+('6&*+,&/#.& 03(A*3/H*#/(+&2%(-$..E&9)/.&*22%(*-)&/.& -(+.#*+#36&/'2%(5$,&A6&#)$(%$#/-*3&*+,&U/+>

International Journal of Community Currency Research 15 (2011) D 32-38

32

IJCCR Sustainable Local Economies in Central America

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International Journal of Community Currency Research 15 (2011) D 32-38

33

IJCCR Sustainable Local Economies in Central America

Complementary currency methods

The Commodity Backed Currency (CBC) methodology aims at substituting and/or complementing the outflow of national currency of an institution or enterprise with a flow of vouchers. The vouchers are backed by the institution/enterprise who accepts them as means of payment for its own sales (goods, services). This financial and commercial instrument used to be common in large agricultural farms like banana plantations of multinationals and coffee plantations in Central America. The methodology has been updated by STRO with: - More diversified strategies of use of vouchers by the organization / enterprise, not only salary payroll but as well as purchase of production inputs, contracting of local services, loans to peasants, bonus system and others; - The creation of local networks of commerce and small business who accept the vouchers.

This improves the spending options of the vouchers and hence must raise the demand for vouchers and improve the time of local circulation; - Offering a bonus system for users of vouchers which is financed by an expected rise in sales of the organization and reduction of financial costs due to the substitution of “expensive” working capital in national currency by vouchers (with almost no financial costs).

The Loan Backed Currency (LBC) methodology aims at stimulating local economic and social development of communities by rising their liquidity through the local circulation of vouchers, emitted through loans administrated by the communities or a third party like a microcredit organization. The loans can be paid back by the community by vouchers, national currency or eventually goods and services, depending on the methodology. Interest rates of loans in vouchers are lower then interest rates for loans in national currency since they do not have financial costs (interests over savings, cost of borrowing money, inflation or other opportunity costs). As such the methodology provides fresh liquidity to the community at a fair price. By creating a local network where the vouchers are accepted as a means of payment for the purchase of goods and services, the methodology incentives local “purchases” and improves the sales of the participants of the network. The methodology has been strengthened and updated by STRO with: - Integration of loans in national currency with loans in local currency.

- Diversification of strategies for raising the demand for local currency.

- Setting up of a permanent system based on daily transactions and not only periodic local markets.

Finally, in some cases, these first two methods can be design further spread into the third method called C3 (Commercial Credit Circuit) where businesses, employees or persons in general have a virtual barter system through internet. Businesses in a C3 network use some of their internal liquidity to make transactions among them. This internal liquidity can be backed by cash or financial guarantees. In this way, financial guarantees (including credit insurance) become a sort of commercial liquidity opening the market penetration of the financial institutions.

Table 1: STRO-CA approaches to sustainable local economic development

Appropriate technologies

The focus is to stimulate circulation of local currency by developing local bio-energy (biodiesel, bio-ethanol, biogas) and/or ecohousing. Also, some strategic alliances exist with organizations specialized in organic agriculture. In all cases, the objective is to substitute “imported” products (i.e. from outside the region) for locally produced products, using as much as possible local resources. Preferable, the products are also locally consumed, to reduce transport and distribution costs. For further details on the subject, please see: www.gotaverde.org, www.ecocasas.org

Apreciando Lo nuestro (APLN)

This method is adapted from the Local Alchemy method of the New Economics Foundation (NEF). Starts with a workshop to raise awareness among local actors about the impact of their spending and investment behavior on the local economy. In Central America, some 5% of the participants, mostly (prospective) entrepreneurs continue in a coaching trajectory which bring their entrepreneurial project idea in practice which consequently will stimulate local currency circulation. The coaching has proven to be very effective with informal sector entrepreneurs (who are generally too small to qualify for mainstream business advisory services like credits).

International Journal of Community Currency Research 15 (2011) D 32-38

34

IJCCR Sustainable Local Economies in Central America Table 2: STRO complementary currency projects in Latin America

Name of the project

Country

Year established

Type of scheme

Details

Suchitoto

El Salvador

2007

LBC

Wide network of local businesses accepting UDIS.

PuntoTransacciones

El Salvador

2009

C3

Private enterprise, design and partially fund by STRO-CA. www.puntotransacciones.com

Gota Verde

Honduras

2007

CBC

Backed by biodiesel production.

Comal

Honduras

2002

CBC

No longer under STRO-CA supervision.

Coopesilencio

Costa Rica

2007

CBC

Backed by palm oil production.

Coopebrisas

Costa Rica

2007

CBC

Backed by dairy products.

Coopevictoria

Costa Rica

2007

CBC

Backed by Coffee, sugar and other businesses.

Cooperativa Sigchos

Ecuador

2010

LBC

Fund and supervised by Pachamama Foundation

Cooperativa Integral

Ecuador

2010

LBC

Fund and supervised by Pachamama Foundation

Cooperativa Coopera

Ecuador

2010

LBC

Fund and supervised by Pachamama Foundation

Red Compras

Brazil

2005

C3

Design and supervised by STRO-office in Brasil (Instrodi). www.circuitocompras.com.br

C3-Uruguay

Uruguay

2010

C3

National in scope, designed and executed by STROUruguay office. www.c3uruguay.com.uy

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International Journal of Community Currency Research 15 (2011) D 32-38

35

IJCCR Sustainable Local Economies in Central America Image 1: Businesses in local community accepting Coopvictoria UDIS in September 2009

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International Journal of Community Currency Research 15 (2011) D 32-38

36

IJCCR Sustainable Local Economies in Central America

Conclusion

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Images 2 and 3: Coopevictoriaâ&#x20AC;&#x2122;s UDIS note front and reverse

International Journal of Community Currency Research 15 (2011) D 32-38

37

IJCCR Sustainable Local Economies in Central America

!"#$%&'()&*+(,$%#-.)-+&/)'00$*'&/#-)'$#)*1,#()-##"#2) '-)3'4)*1)3*$5%(6)*+,-%2#),/#)7'38 9 :/%-) '00$*'&/) %-) &#$,'%(74) (*,) -+%,';7#) ,*) '77) 7*&'7) #&*(*"%#-.) #'&/) &'-#) '(2) %,-) 0'$,%&+7'$%,%#-) "+-,) ;#) '22$#--)'(2)&*(-%2#$#2)-#0'$',#748)<-0#&%'774)3%,/)0+$#) %"0*$,=#>0*$,) #&*(*"%#-) ?,/',) #>0*$,) '7"*-,) ,/#%$) #(,%$#) 0$*2+&,%*() '(2) %"0*$,) "*-,) *1) 3/',) ,/#4) &*(-+"#@.) 3%,/) 7%,,7#) #&*(*"%&) 2%A#$-%B%&',%*() ?#868) &*11##)$#6%*(-@8 9 C%('774.) 0$*"*,%(6) ,/#) DE) '00$*'&/.) #%,/#$) ,*) %"07#"#(,) %,) *$) 1+(2) %,.) 0$#-+00*-#-) ') 6**2) 7#A#7) B%('(&%'7F#&*(*"%&) 7%,#$'&4) 1$*") ,/#) %(,#$7*&+,*$8) G-+'774.)0#*07#)'$#)/%6/74)2%-&*+$'6#2),*)$#'2)7*(6)'(2) ,#&/(%&'7)2*&+"#(,-8 C%('774.) %,) %-) %"0*$,'(,) ,*) $#"#";#$) ,/',) ,/%-) '00$*'&/) &'0%,'7%H#-)"*$#),/'()IJ)4#'$-)B%#72)#>0#$%#(&#);+,)%-)-,%77) %() ') 0$*&#--) *1) 7#'$(%(6) '(2) %"0$*A%(68) K/%7#) L%"0#$1#&,%*()2*#-)(*,) "#'()%$$#7#A'(&#M)%,) %-) %"0*$,'(,) ,*) 5##0) $#-#'$&/%(6) *,/#$) 7*&'7) #&*(*"%&) -*7+,%*(-8) K#) '7-*)/'A#)1*$)%(-,'(&#N)

References !72$%26#):8)X)Y',#$-*()!8?PJJP@.)O<:S)6#,)$#'7N)&*(-,$'%(-)*(),/#) 2#A#7*0"#(,)*1)O*&'7)<>&/'(6#):$'2%(6)S&/#"#-8)Z#,$%#A#)!0$%7) P[.)PJIJ)1$*"N)/,,0NFF-/+$'8-/+8'&8+5FIP\[F ]7'(&)^8)?PJJP@)C*$"#-)#,)Z',%*('7%,%#-)2+)O*&'7%-"#)T*(#,'%$#8) Z#,$%#A#)T'4)JP.)PJIJ)1$*"N)/,,0NFF%28#$+2%,8*$6F%2#$+2%,F JJ_P[U'$8 `%&5#()Y8)?I\\a@)!"#$%"&'()*+,&+-%./*#-0).1&+(2&3#-"4&25#.#067)) b%71*$2)Y$#--.)c#3)d*$5.)G8S8!8 b*"#H)b8)?PJJa@)8%9).1&8%-92+/,&:./+)+;+)#.%"&-)/2&%.4&425").2& #*&+(2&<-12.+).2&=24&42&>-;2?;27)S/'5#$)Y+;7%-/%(6.)c#,/#$7'(2-8 O#11)<8)?PJJQ@)=%5)#.%")4%4&<0$)2.+%",&"%&-2%@-#@)%5)#.&&/#5)%"& 42&"%&.%+;-%"2A%7)S%67*)eeW)<2%,*$#-.)T#>%&* T'(&#)<8)?PJJa@.)Z#2#-)2#)D*7';*$'&%*()S*7%2'$%'.)?G(%A#$-%2'2) !+,*(*"')2#)7')D%+2'2)2#)T#>%&*.)T#>%&*@ Y'&%*(#)T8)?I\\_@.)O*&'7)#>&/'(6#),$'2%(6)-4-,#"-)'-)') $#-0*(-#),*),/#)67*;'7%-',%*()*1)&'0%,'7%-".)G$;'()S,+2%#-)EQ.) II_\)f)II\\8 S&/+72,)^8)?I\\_@.)B).2-#/&<"+2-.%+)C#/,&@%-%&2"&42/%--#""#&"#5%".)

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9 D+7,+$'7) 0$*2+&,%A%,4) ?O#11.) PJJQ@) 3/%&/) 7%(5-) ,/#) (*,%*() *1) &+7,+$#.) 3/%&/) +-+'774) "#'(-) -*&%'7) S#41'(6)b8)?PJJI'@.)D*""+(%,4)D+$$#(&%#-N)')-"'77)&/'(6#)1*$)') 1*$"',%*(-.)'(2)/+"'()'&,%A%,%#-),/',)'$#)(*,)(#&#--'$4) 6$##()#&*(*"4.)<(A%$*("#(,'7)'(2)Y7'((%(6)!)EE)?U@.)\_[=\\U8 %(,#(2#2),*)%(&$#'-#)0$*2+&,%A%,4R) K%77%'"-)D8)X)!72$%26#):8)?)PJJI@.)D-)412/&).+#&3#-9,&%.& 9 S*7%2'$%,4) (#,3*$5-) ?T'(&#.) PJJU@)3/%&/) '$#) 1*$"-) *1) 2C%";%+)#.&#*&E#5%"&FG5(%.12&>-%4).1&'5(202/7)Y*7%&4)Y$#--.)G8g8 %(,#6$',%*() '(2) %(,#$'&,%(6) '"*(6) *$6'(%H',%*(-) ,/',) -+00*$,) #'&/) *,/#$) "+,+'774) 0$*"*,%(6) &*(B7+#(,) '&,%*(-) ,/',) -,$#(6,/#() #'&/)*1) ,/#) "#";#$-) *$) '77) *1) ,/#")-%"+7,'(#*+-74R)'(2R) 9 LD'$'&*7#-M) 3/%&/) '$#) ,/#) *$6'(%H#2) $#6%*(-) *1) ,/#) V'0',%-,'-) '+,*(*"*+-) &*""+(%,%#-) %() D/%'0'-.)

T#>%&*8) 9 W,) 3%77) ;#) %"0*$,'(,) ,*) %(,#6$',#) ,/#-#) '(2) 2$'3) 3%2#$) &*(&7+-%*(-) 1*$)-+-,'%(';7#)7*&'7) #&*(*"%&) 2#A#7*0"#(,R) ',)7#'-,)3#)*3#)%,),*)1+,+$#)6#(#$',%*(-8

International Journal of Community Currency Research 15 (2011) D 32-38

38

Community Currency Progress in Latin America: Evolution in Brazil of a Socio-Technical Innovation for Economic Sustainability

IJCCR

Christophe Place HEC-Paris / Fundação Getulio Vargas São Paulo, Brazil

Abstract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

Introduction

International Journal of Community Currency Research www.ijccr.net

T/"(4451#/.#2/44#(4$%#,/<,4/<,.#$%&'#%.,')# >)(=/4/("#$%+/%U.'+,"/+(4#/""%:(./%"$#/"#.')&#%9# !"#$%&'#()'(#$*+,#($#-(./"#0&')/+(1#2,')'# +%&&*"/.5#+*))'"+5#$5$.'&$?#R,/$#)'$'()+,# .,')'#/$#(#3%.'"./(445#(6*"7(".#&()8'.1#(#4(+8#%9# $*<<'$.$#.,(.#(#9*.*)'#&*4./+*))'"+5#$%+/'.5# .)("$(+./%"#.%%4#3)':'".$#&()8'.#';+,("<'1# +%*47#6'#':%4:/"<1#':'"#/"#.,'#$%*.,')"# 6)/"<$#3(*3')/=(./%"#("7#.,*$#,/<,#/"+%&'# +%*".)/'$#OJ2("1#@AAPQ? 7/$3()/./'$#$*+,#($#/"#>)(=/4?#!"#@AAB1#(6%*.# @1CAA#+%&&*"/.5#+*))'"+/'$#2')'#.)5/"<#.%# (:%/7#.,/$#3()(7/<&#9)%&#2,/+,#DDE#2')'#/"# Banco Palmas: A Significant Example F*)%3'1#GCE#/"#H(3("1#DE#/"#I"/.'7#J.(.'$#%9# in Latin America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nternational Journal of Community Currency Research 15 (2011) D 39-46

39

IJCCR Banco Palmas, Brazil

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International Journal of Community Currency Research 15 (2011) D 39-46

40

IJCCR Banco Palmas, Brazil

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“For the first time the Central Bank of Brazil recognised the existence of community banks and social currency and their importance as social technology that generates financial inclusion.”

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International Journal of Community Currency Research 15 (2011) D 39-46

41

IJCCR Banco Palmas, Brazil

!"#$%&'(&)&*'&)&*+%+),+)-.$/+)-$$%0!('&!$() ,+&1++()!(!&!'&!2+/)$3)&*+)4'&!$('.)5+-%+&'%!'&) 3$%)5$.!0'%!&6)7-$($"6)'(0)&*$/+)$3)&*+)8+(&%'.)

9'(:)$3)9%';!.<)/$)&*'&<)'#'%&)3%$")-$"#.!'(-+) 1!&*)&*+)='1)'(0)-$"#'&!,!.!&6)1!&*)"$(+&'%6) #$.!-6)>(0+%)%+/#$(/!,!.!&6)$3)&*+)8+(&%'.)9'(:<) &*+)!//>!(?)$3)/$-!'.)->%%+(-!+/)!()9%';!.)%+"'!(/) &$),+),'/+0)>#$()3%++)+(&+%#%!/+)'(0)&*+)0!?(!&6) $3)*>"'().',$>%<)/$)&*'&)'..)9%';!.!'(/)-'()+(@$6) 0!?(!A!+0).!2+.!*$$0/<)!()'--$%0'(-+)1!&*)&*+) #%+-+#&/)$3)/$-!'.)@>/&!-+)'(0)$3)&*+) -$(/&!&>&!$('.)+-$($"!-)$%0+%BC)DE%+!%+<) FGGHIHFJB

G.&#+%F*')#/.%&".+2$%&,%#&$%$,/#.0%/3))'+/-% $-$&'*%#*4./&:%$#?'%.+7%0,+5'6#&-:%13&%.0$,%.% X3.0#&.&#6'%,+'%&"),35"%#&$%+3*'),3$% #++,6.&#,+$;

C3: Trade and Consumption Circuit

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coelce: waste against energy barter &"'%)'5#,+.0%/,3+&)#'$%9,00,=%&"'%$.*'%4.&"H% I,307%&"'%/,+&),0%.+7%+,)*.0#?.&#,+%,9%$,/#,J ^,='6'):%>).?#0%#$%0'$$%2+,=+%9,)%#&$%=.$&'% &'/"+#/.0%#++,6.&#,+$%1-%.%/'+&).0#?'7% '+')5-%1.)&')%/.00'7%P/,'0/'%0.3+/"'7%#+%BCC_% #+$&#&3&#,+%7'/)'.$'%&"'%).&'%,9%/)'.&#6#&-%,9% 1-%&"'%I,'0/':%&"'%&"#)7%1#55'$&%'+')5-% /,**3+#&-%/3))'+/-%$-$&'*$H 7#$&)#13&,)%,9%&"'%+,)&"%'.$&%)'5#,+%,9%>).?#0;%<&% #$%.%$-$&'*%="')'%4',40'%4.-%&"'#)%'0'/&)#/#&-% 1#00%=#&"%)'/-/0#+5%$,0#7%=.$&':%.%1.)&')%$-$&'*% Recent and future currency ,9%=.$&'%.5.#+$&%'+')5-%1.$'7%,+%*3&3.0% .44)'/#.&#,+;%!"#$%#$%.%1.)&')%,9%#+73$&)#.0% innovation in Brazil )'/-/0#+5%$,0#7%=.$&'%9,)%'0'/&)#/.0%'+')5-% K,*'%#+$&#&3&#,+$%.)'%#+&')'$&'7%#+%&"#$% /)'7#&%1,+3$%,+%&"'%/,+$3*')%.//,3+&%,9%&"'% )'$'.)/"%.)'.%,9%/,**3+#&-%/3))'+/-%.$%.% 0,=%#+/,*'%4,430.&#,+;%<+%&"'%/#&-%,9%O,)&.0'?.:% $,/#,J&'/"+#/.0%#++,6.&#,+%9,)%'/,+,*#/% Z]%1.)&')%/'+&')$%".6'%/,00'/&'7%`:_CC%&,+$%,9% $3$&.#+.1#0#&-L%M,0#&'#.:%.+%#+/31.&,)%,9% =.$&':%5'+').&#+5%.%/)'7#&%,9%Aa%ZDD:CCC]%.$% 7'*,/).&#/%'73/.&#,+.0%4)./&#/'N%<+$&#&3&,% '+')5-%1,+3$%9,)%&"'%/3$&,*')$\%.//,3+&$%,9% O3&3),%P73/.QR,:%,+%7'*,/).&#/%'73/.&#,+N% *,)'%&".+%bBC:CCC%1'+'(#/#.)#'$;%K#+/'%&"'% I#7.7'%7,%I,+"'/#*'+&,:%&"'%#+$&#&3&'%,9% 1'5#++#+5%,9%&"'%4),c'/&:%.1,3&%Zde%,9%&"'% .76.+/'7%$&37#'$%,9%&"'%S+#6')$#&-%,9%KR,%M.30,N% 4),5).*%/0#'+&$%4.#7%&"'#)%'+&#)'%'0'/&)#/.0%1#00% <+/31.7,).%!'/+,0T5#/.%7'%I,,4').&#6.$% @G#*.:%BCC]E; M,430.)'$%U%O3+7.QR,%V'&30#,%W.)5.$%.+7% S+#6')$#7.7'%7'%KR,%M.30,:%&=,%4,430.)% /,,4').&#6'%&'/"+,0,5#/.0%#+/31.&,)$%,9%&"'% Cubo Card: musical community *,$&%9.*,3$%>).?#0#.+%3+#6')$#&#'$N%I)#'% currency O3&3),$:%.%+'&=,)2%9,)%93&3)'%/)'.&#6#&-;% O3)&"')*,)':%>).?#0%#$%+,&%,+0-%.%X3.+&#&.&#6'% G.3+/"'7%#+%BCC`%1-%M.10,%I.4#0f%#+%I3#.1g%#+% '8.*40'%9,)%/,**3+#&-%/3))'+/-%$-$&'*$%#+% &"'%$&.&'%,9%h.&,%V),$$,:%&"'%I31,%I.)7%#$%.%

International Journal of Community Currency Research 15 (2011) D 39-46

42

IJCCR Banco Palmas, Brazil

!"##$%&'()!$**+%!(),-&!-).//",0)+1!-.%2+)"3) *+./)G*.00$00.)!$**+%!(6)./0")$0+4).0).)

2""40).%4)0+*5&!+0),&'-&%).)#$0&!)!"##$%&'(6) !"##$%&'()!$**+%!()3"*)'-+)+1!-.%2+)"3)/"!./) "*)!$/'$*./)!"//+!'&5+)!.//+4)7$8"9:;) "*2.%&!).2*&!$/'$*./)>*"4$!'&"%)&%)"*4+*)'")2&5+) 4&*+!'&"%0)3"*)-+./'-().%4)%.'$*./)>*"4$!'0) !"#$%&'())*+(,*-$./&'0)-0,*)&(,1*2$3*-$(2&*$4%& !"%0$#>'&"%)I7U7T6)H;;KL9 -(&%055(,-&%/)67%0%-*$2*+)/&*28&%/)674*2*1/8& '0)-0,*)&/2-/,5,$%/%9&8$%%/4$2*-$21&5,(80'-%&*28& %/,.$'/%&-#,(01#&-#/&$2-/,2/-:&;$-#&-#/$,&(<2& The Hub: currency creation as a ',/8$-&%=%-/4&>?0+(&?*,8@9&50+)$'&*28&5,$.*-/& community animation tool $2%-$-0-$(2%&%055(,-&-#/4&5,(.$8$21&%/,.$'/%9& 4/*)%9&-$'A/-%&-(&'(2'/,-&#(0%/%&/-':B&>C/4(%&/-& ?-+)A$8)V)ER")U.$/")&0)'-+)%.#+)"3)'-+) *)9&DEEFGHI@: %+',"*=6).)>/.!+),-+*+)"%+)#++')>+">/+)3*"#) <&*0'/()8.0+4)"%)'-+)+1!-.%2+)"3)5"/$%'.*() ,"*=)3"*)#$0&!)*+!"*4&%26)*+-+.*0./)*""#)*+%'6) "*)8.%4)#.*=+'&%26)'-&0)!$**+%!()8+!.#+).)

5+!'"*)"3)/"!./)#$0&!)!$/'$*+)4+5+/">#+%'9)?-+) 0.#+)(+.*6).0)'"")#$!-)"3)!$**+%!(),.0)!*+.'+4) .%4)%"')+%"$2-)+1!-.%2+46)'-+)&%@/.'&"%)/+4)'") '-+)0(0'+#)!"//.>0+).%4)0-",+4)'-+)%+!+00&'() "3)+1!-.%2+.8/+).!'&5&'&+0)4&5+*0&@&!.'&"%) ,&'-&%)'-+)!"##$%&'()&%)"*4+*)'")8./.%!+)'-+) #"%+'.*()!*+.'&"%),&'-)&'0)!&*!$/.'&"%9) A+%!+3"*'-6)B:6;;;)7$8")7.*4).*+)&%) !&*!$/.'&"%)&%).)=&%4)"3)C"!./)D1!-.%2+)?*.4&%2) E(0'+#6)&%!/$4&%2)%"')"%/()&%4+>+%4+%')#$0&!)

3+0'&5./0)8$')./0")*+0'.$*.%'6)-"'+/6)D%2/&0-) /+00"%06)'.''""06)8""=0F)G%)+/+!'*"%&!)!.*4),&//) 8+)/.$%!-+4)&%)H;:;)ID0>.J")7$8"6)H;;KL9

“In the city of Fortaleza, 59 Ecoelce barter centers have collected 4,600 tons of waste, generating a credit of R$ 588,0009 as energy bonus for the customers’ accounts of more than 120,000 beneficiaries.”

Arassussa: water management against sustainable house barter M%)'-+)!&'()"3)G*.J$.N)&%)'-+)0'.'+)"3)O&%.0) P+*.&06),.0)8$&/')'-+)G*.00$00.)!$**+%!()&%) H;;Q)8()?&R")S"!-.)'-*"$2-)'-+)7$/'$*+).%4) T+5+/">#+%')U">$/.*)7+%'+*)I7U7TL9)M').//",0) 8.*'+*)8+',++%).)#.%4.'"*()!"##&'#+%')/&0'6) /&%=+4),&'-),.'+*)#.%.2+#+%'6)3"*).)

0$0'.&%.8/+)-"$0+)=&'9)?-&0)=&')!"%'.&%0).) !"#3"*'.8/+).%4)%.'$*./)'-+*#./).%4)0"$%4) &%0$/.'&"%6).)0'"*#V,.'+*)4*.&%6).)!"#>"0'&%2) 0(0'+#)3"*)"*2.%&!)3""4)>*"4$!'&"%9)HH;) 3.#&/&+0)-.5+)8+%+@&'+4)3*"#)'-&0)0$0'.&%.8/+) -"$0+)=&')8().!!"#>/&0-+4)!"##&'#+%'0)&%) *+/.'&"%),&'-),.'+*)!"%'.#&%.'&"%).%./(0&06) *.&%,.'+*)!"//+!'&"%).%4)!-&/4*+%)+4$!.'&"%9) ?-&0)!"##$%&'()!$**+%!()&0)0'&//).%)&##.'+*&./) .%4)!"%!+>'$./)"%+)8$')&%)H;:;),&//)8+)0+')$>).)

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

0"!&./)%+',"*=),&'-).8"$')\;)>.*'&!&>.%'0) &%0&4+).%4)"$'0&4+)?-+)A$8)I?-+)A$86)H;:;L9 G0)!"##$%&'()!$**+%!()>+*#&'0)'")=++>)'-+) !*+.'+4),+./'-),&'-&%)'-+)!"##$%&'()8+!.$0+) &']0).)!/"0+4)#.*=+'6)'-+)#"%+'.*()&%!/$0&"%)"3) .)!"##$%&'()-.0).)*+./)8&2)&#>.!')"%)-&0) 4+5+/">#+%')'-*"$2-)+!"%"#&!)2*",'-9) X+5+*'-+/+006)'-+)+!"%"#&!)0(0'+#)&0)0'&//) 8.0+4)"%)'-+)0.#+),+./'-)!*+.'&"%)4+@&%&'&"%) 8.0+4)"%)>*"4$!'&"%V!"%0$#>'&"%)0(0'+#) 5+%+*.'&"%)I^.!=0"%6)H;;KL9)M')&%!*+.0+0)'-+) /"!./)P*"00)T"#+0'&!)U*"4$!').%4)'-$0)'-+)/"!./) +!"%"#(),&'-)&'0)>"0&'&5+).%4)%+2.'&5+)0"!&"V +%5&*"%#+%'./)&#>.!'9::)?-.']0),-()0"!&"V '+!-%&!./)&%%"5.'&"%0)3"*)+!"%"#&!)

0$0'.&%.8&/&'()'-*"$2-)!"##$%&'()!$**+%!&+0) 0'&//)%++4)+5"/$'&"%6)+5+%)&%)_*.W&/9)M')-.0)'") +#>",+*)!"##$%&'&+0)'")8$&/4)+!"%"#&+0)'-.') .*+)8"'-)0$0'.&%.8/+).%4)4+#"!*.'&!)&%)"*4+*) '")8$&/4)'-+)'*$+),+./'-)"3)'-+)2*.00*""'06)'-+) &%'+//&2+%!+)"3)-+.*')IP*+!"6)H;;K`)a&5+*+'6) H;;HL9)

International Journal of Community Currency Research 15 (2011) D 39-46

43

IJCCR Banco Palmas, Brazil

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

0")+31,O-$4#$*21#$&,$4)-"$(+//#,(.$&,,)'2-&'#$ -))30$2,1$0+0-2&,243#$5/)05#/&-.$'&0&),M$!)$ 2("&#'#$-"&0:$-"#$0#(-)/$)6$'#,-+/#$5"&32,-"/)5.:$ #'#,$&,$?2-&,$@*#/&(2:$0")+31,O-$4#$*)/#$ &,-#/#0-#1$&,$-"&0$,#(#002/.$-/2,0&-&),:$ #')3+-&),:$/#')3+-&),$-"2,;0$-)$2$*&(/)B 5"&32,-"/)5&($0##1$6+,1$-)$/#2("$*),#-2/.$ '&24&3&-.$7&-"&,$2$3)(23$()**+,&-.$5/)J#(-M$

Conclusion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nternational Journal of Community Currency Research 15 (2011) D 39-46

44

IJCCR Banco Palmas, Brazil

Endnotes

950!%>1()/%(*!%=!*%,.)4!,'((1#,0!*0*/1-*!/5)/!1#3)31!.#! ),/.?./.1*!/5)/!)(1!(1*1(?1&!=%(!2)#C.#3!)#&!Z.#)#,.)4!.#*/./'/.%#*! !!"#!$%#&'()*+!)!,%--'#./0!,'((1#,0!.*!21.#3!4)'#,51&!.#!6778! )(1!*'2D1,/!/%!>(1?1#/.?1!)#&!>'#./.?1!,%#/(%4+!1M1(,.*1&!20!/51!

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4)2%'(@!H51!4%,)4!1,%#%-0!91)4/5!>(%&',1&!21#1Z./*!/%!/51! >1%>41!>)(/.,.>)/.#3!.#!/51!*%,.)4!,'((1#,0!*0*/1-+!,)441&!)#! %>/.-'-!-%#1/)(0!)(1)+!.#!95.,5!&1-)#&!=%(!4%,)4!3%%&*!)#&! *1(?.,1*!,)#!21!='4Z.441&!20!/51!4%,)4!*'>>40!%=!3%%&*!)#&! *1(?.,1*!21=%(1!/51!*'(>4'*!%=!/51*1!3%%&*!)#&!*1(?.,1*!.*!

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#!BX!;7+777+777+!.#!/51!K()L.4.)#!#)/.%#)4!-%#10+!.*!1W')4!/%!

%!BX!877+!.#!/51!K()L.4.)#!#)/.%#)4!-%#10+!.*!1W')4!/%!EII!Y!9./5!

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Acknowledgements H51!)'/5%(!3()/1='440!),C#%941&31*!/51!,%#/(.2'/.%#!)#&! *'>>%(/!%=!)44!&.(1,/%(*!)#&!1M)-.#1(*!%=!/51!(1*1)(,5!%(.1#/1&! /51*.*!95.,5!.#*>.(1&!/5.*!>)>1(`!1*>1,.)440!$14%e*)!<(.-)?1()+! \)4)!f151.#L14.#+!c#&(d!A)(?)45%+!A14*%!S1C.3',5.!)#&!B%4)#&! g)M14).(1!=%(!/51.(!(1?.19+!,(./.,.*-!)#&!%(.1#/)/.%#!%#!/5.*!

(1*1)(,5!%(.1#/1&!/51*.*@!V1)#QU()#h%.*!i%'214+!A4)'&1! <1(.3)'&+![.3'14!j)*'0'C.!$.(%/)+!S%>5.1!$'1/+!A5(.*/%>51!

A1*1//.+!A14.#)!k5./)C1(+!A)(4%*!f1!U(1./)*!5)?1!)4*%!>)(/.,.>)/1&! .#!/5.*!>)>1(!/5(%'35!'*1='4!(1=1(1#,1*@!H51!)'/5%(!)4*%! ),C#%941&31*!f(!N.44!S10=)#3+!<(%=1**%(!A%4.#!A@!k.44.)-*+!)#&! f(!i%14!\%#35'(*/!=%(!3.?.#3!/51!%>>%(/'#./0!/%!9(./1!/5.*! )(/.,41!=%(!/51!"#/1(#)/.%#)4!V%'(#)4!%=!A%--'#./0!A'((1#,0!

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#)/.%#)4!,'((1#,0@!U%(!1M)->41+!%#1!<)4-)*+!.**'1&!20!K)#,%! <)4-)*!.#!U%(/)41L)+!.*!1W')4!/%!%#1!B1)4+!/51!K()L.4.)#!%=Z.,.)4! ,'((1#,0!.**'1&!20!/51!A1#/()4!K)#C@ (!"#!?.19!%=!/51.(!,%#?1#/.%#)4!)#&!,%#/(),/')4!#)/'(1+!*%,.)4!

,'((1#,0!*0*/1-*!/1#&!/%!21!413)440!*/(',/'(1&!.#!,%->4.)#,1!

9./5!413)4!*/)#&)(&*+!9./5.#!*>),1*!.#!95.,5!/51!\)9!3()#/*! =(11&%-!)#&!>(.?)/1!)'/%#%-0!.#!1),5!*%,.)4!,%#/1M/@!H5)/J*!

International Journal of Community Currency Research 15 (2011) D 39-46

45

IJCCR Banco Palmas, Brazil

References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`/ 4!'0&*+,,-./&!8$B5&B#$9"8>&"#B5$E#B#&8&(JN5"9a$B(8& 78&"#7#&7#&?8$B5%&B5J6$(9`"(5%&N8"8&5& 7#%#$=5>=(J#$95&75&N8b%/&4L"6J&!"8%(>#("5&7#& 'B5$5J(8&05>(7`"(8&*4!'0.:&0]5&K86>5:&+\9E&5H& R5=#J?#"&+,,-/

5H&3B95?#"&+,,-/&<=8(>8?>#&5$& @AAA/H8B#%75?"8%(>/5";/?"C/&D5$%6>9#7&9E#&FG9E&5H& U8"BE&+,F,/ K"(J8=#"8&O#>5b%8&*+,,-./&U5#78%&%5B(8(%:&B>6?#%&7#& 9"5B8&$8&<";#$9($8&#&5&N"5_#95&03Q&$8&4"8$^8T&>(^r#%& 8&%#"#J&>#J?"878%/&S$&4SR<Rn<0&03QSIV2S<0&'& 2'I'0&I'&123D<T&'sKQ32<RI3&SIXS<0t&K23f'130& '&3K321WRSI<I'0:&+l9E&5H&R5=#J?#"&+,,-:&0]5& K86>5/&K"#%#$989(5$/&0]5&K86>5/ 257"(;6#%&S=#9#:&!8"?(#"(&f5%M&D8">5%&*+,,l./&u<& #J#";d$B(8&78&9#B$5>5;(8&%5B(8>T&"#=(%(98$75&5& J5=(J#$95&78&9#B$5>5;(8&8N"5N"(878&B5J5& #%9"89M;(8&7#&7#%#$=5>=(J#$95&%6%9#$9`=#>u/&2#=(%98& 7#&<7J($(%9"8^]5&Kv?>(B8:&2(5&7#&f8$#("5T&4i'Y '!<K':&Z5>&\+*h.&NN/F,h-YF,-\:&R5=#J?#"w I#B#J?#"/ 08$BE#%&U8"(8$8&*+,,-./&u1578%&#%98%&$598%&B("B6>8J& $5&!"8%(>u/&XN5B8:&0]5&K86>5:&+["7&&5H&U8"BE&+,,-/ 0#;6$75&f5]5&f58x6(J&7#&U#>5&R#95&*+,,l./&u!8$B5& N8>J8%///&6J&B8J($E5u/&!5>#9(J&"#%N5$%8?(>(787#& %5B(8>&#&8J?(#$98>&75&%(%9#J8&y($8$B#("5:&!8$B5& D#$9"8>&75&!"8%(>:&!"8%b>(8:&Z5>&+-*[.:&<N"(>/

4M>(c&189(8$8&*+,,-./&U5#78%&%5B(8(%&B"#%B#J&#& H5"98>#B#J&#B5$5J(8%&>5B8(%&#J&9575&5&N8b%/&<IS1<Q:& <;d$B(8&7#&S$H5"J8^]5&4"#(&1(95&N8"8&<JM"(B8& 0'R<'0&*+,F,./&u<B5"75&7#&B55N#"8^]5&B5J&?8$B5& Q89($8:&45"98>#P8:&+["7&5H&0#N9#J?#"&+,,-/&<=8(>8?>#& B#$9"8>u/&!5>#9($&S$H5"J89(=5:&!"8%b>(8T&0#B"#98"(8& 5$&@AAA/87(98>/B5J/?"C/&D5$%6>9#7&9E#&FG9E&5H& R8B(5$8>&7#&'B5$5J(8&05>(7`"(8:&*[.&N/F:&U8"BE/ U8"BE&+,F,/ 0E#NE8"7&I5")(%&i#5";#99#&*+,,-./&U5$#78%&7#& 4"#("#&U8"6%8&Z8%B5$B#>5%&*+,,-./&05B(8>&#B5$5Je& 9"6#x6#&#$&Z#$#P6#>8/&&S$T&0'USRV2S3&D2S'& 8$7&B#$9"8>&?8$)%T&>#;8>&8$7&"#;6>895"e&(%%6#%&5$& 4W1W230&S!'23&<UX2SD<Y&R3Z30&!<RD30&'& %5B(8>&B6""#$B(#%&*%5B(8>&J5$#e.&8%&8&N6?>(B&N5>(Be& U3'I<0:&F/:&F[9E&8$7&F\9E&5H&3B95?#"&+,,-:&0]5& ($%9"6J#$9&B5$%(%9#$9&A(9E&J5$#98"e&N5>(Be/& K86>5/&K"#%#$989(5$/&0]5&K86>5T&D2S'&4W1W230/ R5"A(BET&S$9#"$89(5$8>&f56"$8>&5H&D5JJ6$(9e& 0123&*+,F,./&D[&W"6;68e/&05B(8>&1"87#&3";8$(P89(5$& D6""#$Be&2#%#8"BE&Z5>&F[&NN/ghY-\/ W"6;68e/&<=8(>8?>#&5$&@AAA/%9"5/5";/6eC/&D5$%6>9#7& i"#B5&1E5J8%&O/&f"/&*+,,-./&1E#&#$7&5H&J5$#e&8$7& 9E#&FG9E&5H&U8"BE&+,F,/ 9E#&H696"#&5H&B(=(>(P89(5$/&Z#"J5$9T&DE#>%#8&;"##$& 0A8$&U#>8$(#&*+,,l./&'B5$5J(B%&5H&9E#&H696"#&N>6%& N6?>(%E($;&B5JN8$e/ ^8&BE8$;#/&K8>5&<>95T&U0&4696"#%&i"56N:&+,,l/ f8B)%5$&1(J&*+,,-./&K"5%N#"(9e&A(9E569&;"5A9Ej&1E#& 1E#&O6?&*+,F,./&'$"#7#Y%#&$5&O6?Y0KT&B6>96"8&7#& 9"8$%(9(5$&95&8&%6%98($8?>#&#B5$5Je/&06%98($8?>#& 8?6$7a$B(8:&=8>5"#%&#&$#9A8=($;&N5"&6J&J6$75& I#=#>5NJ#$9&D5JJ(%%(5$:&Q5$75$/ J#>E5"/&1E#&O6?:&0]5&K86>5:&+,F,/&<=8(>8?>#&5$& Q#J5%&25$8>75:&D8%9"5&35$8&*+,,g./&3N#$&?6%($#%%& @E99NTww#$"#7#%#$5E6?Y%N/$($;/B5JC/&D5$%6>9#7&9E#& J57#>%&Q89($&<J#"(B8/&D#$9"5&7#&9#B$5>5;(8&#& FG9E&5H&U8"BE&+,F,/ %5B(#787#&78&4iZ&IS2'S13&2S3:&2(5&7#&f8$#("5/ Z(=#"#9&K89"(B)&*+,,+./&2#B5$%(7M"#"&>8&"(BE#%%#/& Q(#98#"&!#"$8"7:&k#$$#7e&U8";"(9&*+,,l./&U5$$8(#%& K8"(%T&<6?#/ "M;(5$8>#%:&7#&$56=#>>#%&=5(#%&=#"%&6$#&N"5%NM"(9M& 76"8?>#/&K8"(%&T&X7(9(5$%&DE8">#%&QM5N5>7&U8e#"/ Q(J8&D8">5%&</&4"L#%&#9&8>((&*+,,-./&K"5;"8J8&#B5#>B#& 7#&9"5B8&7#&"#%b765%&N5"&?m$6%&$8&B5$98&7#&#$#";(8/& S$T&Z&D3Ri2'003&I'&SR3Z<no3&1'DR3QpiSD<&'U& 'R'2iS<&'QX12SD<&*Z&DSR'1'Q.:&G/:&+\9E&5H&f6$#& +,,-:&!#>MJ/&<$$8>%/&!#>MJT&<R''Q/ R56?#>&f#8$Y4"8$^5(%&*+,,\./&S$9#>>(;#$B#&B5>>#B9(=#:& >8&"M=5>69(5$&($=(%(?>#/&1E#1"8$%(9(5$#"/ K(99%&R898%E8&*+,,-./&K"5_#95&7#&>#(&=8(&"#;6>8J#$98"& 8968^]5&7#&?8$B5%&B5J6$(9`"(5%/&48B#%&75&!"8%(>&q& K5"98>&7#&D5JM"B(5&f6%95&#&05>(7`"(5:&0]5&K86>5:&F%9&

International Journal of Community Currency Research 15 (2011) D 39-46

46

L’Accorderie and Le Jardin D’Échange Universel (JEU) in Quebec: A comparative case study Mathieu Lizotte and Gérard Duhaime

IJCCR

Department of Sociology, Laval University mathieu.lizotte1@ulaval.ca; gerard.duhaime@soc.ulaval.ca

Abstract !".2$3&3#1$*(+3&1#2$/%($()$/"#$+(2/$2,**#22),<$*(++,-./0$*,11#-*0$202/#+2$.-$/"#$31('.-*#$()$ 6,#7#*8$9&-&4&a$<ED**(14#1.#$&-4$F#$I&14.-$4EJ*"&-C#$K-.'#12#<$:IJK@A$!"#$3&3#1$*(+3&1#2$/"#.1$ )(,-4.-C$31.-*.3<#2$&-4$(1C&-.2&/.(-&<$2/1,*/,1#28$&-4$/"#.1$+#*"&-.2+2$&-4$+#4.,+2$()$ #R*"&-C#A$N".<#$/"#$)(1+#1$.2$Q,./#$%#<<^.-2/./,/.(-&<.2#4$&-4$&//#+3/2$/($(3#1&/#$ 31()#22.(-&<<08$b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

Introduction

International Journal of Community Currency Research www.ijccr.net

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he Founding Principles and .-$6,#7#*$*./0$&-4$-(/$(-$/"#$%"(<#$-#/%(1OA$ Organisational Structures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`$%".<#$IJK$.2$+(1#$ FED**(14#1.#$S$%&2$)(,-4#4$.-$=>>=$&2$&$2(*.&<$ &$C1&221((/2$.-./.&/.'#$7&2#4$(-$'(<,-/##1$ #*(-(+0$.-./.&/.'#$70$&$*(++,-./0$)(,-4&/.(-$ International Journal of Community Currency Research 15 (2011) D 47-51

47

IJCCR Lâ&#x20AC;&#x2122;Accorderie and JEU in Quebec

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f we were to caricaturise, we might say *"+$%',,20)#/()/24$/@+()/!!"#1+&0.)/0)#$!.) /0)/)8$++9'&#,)0'/88<)&')&0)5"$@'8$+)&')!/%)5")0")/0) that one currency tries to work from within the system while the other tries to -,++)/%5)-&'.)'.,)0/#,)2,4$+/2&'()&%)'.,)+"%4) 2$%6)7.,)#/&%',%/%!,)"8)5,*"',5)*"+$%',,20) operate outside of the system. /11,/20)'")@,)/)!"%0'/%')!./++,%4,)8"2)'.,#6) B%5,,5<)CDE)./0)./5)!.2"%&!)5&8:&!$+'()8"2) 0,*,2/+)(,/20)'"):&%5)*"+$%',,20)'")'/;,) &%8"2#/+I)JKLLMN)OPLQ6)B8)-,)-,2,)'") +,/5,20.&1)"8)'.,)"24/%&0/'&"%6)?0)/)2,0$+'<) !/2&!/'$2&H,<)-,)#&4.')0/()'./')"%,)'2&,0)'") 0"!&/+)/!'&*&'&,0)-.&!.)-,2,)"%!,).,+5)"%)/) -"2;)82"#)-&'.&%)'.,)0(0',#)-.&+,)'.,)"'.,2) #"%'.+()@/0&0)%"-)"!!$2)&22,4$+/2+(),*,2()0&3) '2&,0)'")"1,2/',)"$'0&5,)"8)'.,)0(0',#6)A.&+,) #"%'.0<)"2),*,%)"%!,)1,2)(,/26)D#/&+) '.,()/+0")5")%"')'/;,)/)8"2#/+)!2&'&!/+)0'/%!,)"%) !"22,01"%5,%!,)/%5)&%X$&2&,0)/2,)%"')@,&%4) !/1&'/+&0#<)'.,&2)0(0',#)"8),3!./%4,)5",0)%"') 2,01"%5,5)2,4$+/2+()'")/%5)#&%$',0)"8) ,3/!'+():&')&%)'.,)0'/',)#"5,+)/%5)!"$+5) #,,'&%40)/2,)%"')@,&%4);,1'6)V&%!,)CDE)5",0)%"') 1"',%'&/++()!"#,)&%'")!"%:+&!')-&'.)0'/',) ;,,1)/)!,%'2/+&H,5)2,!"25)"8)'.,)'2/%0/!'&"%0)"8) /$'."2&'(6)A,)./*,)0,,%)/)8"2,0./5"-)"8)'.&0)&%) &'0)#,#@,20<)&')&0)5&8:&!$+')'")#,/0$2,)'.,) '.,)ORRS)+/-)0$&')&%)?2&T4,<)U2/%!,<)-.,2,) /!'&*&'()"8)&'0)#,#@,206)[$2):&%5&%40)0$44,0') '.2,,)#,#@,20)"8)/)VD=)-,2,)8"$%5)4$&+'()@$') './')&'0)#,#@,20)./*,)@,!"#,)2/'.,2)&%/!'&*,) +/',2)1/25"%,5)8"2)-"2;&%4)W$%5,2)'.,)'/@+,>6) /%5)"%+()#/;,),3!./%4,0)01"2/5&!/++(6)A.&+,) ?24$/@+(<)'.,)0'/',)./0)@,,%)2/'.,2)1,2#&00&*,) "'.,2)@2/%!.,0)"8)CDE)#/()./*,)./5)@,'',2) $1)'")'.&0)1"&%')/0)+"!/+)!$22,%!(),3!./%4,)&0) 0$!!,00<)'.,)\$,@,!)@2/%!.)/11,/20)2/'.,2) 0$!.)/)0#/++)0!/+,)1.,%"#,%"%6)A,)!"$+5) 5"2#/%')/')'.,)#"#,%'6 ,31,!')'./')'.,)0'/',)0./++)%"')/'',#1')'") !"%'2"+)+"!/+),3!./%4,)$%'&+)&')5,',2#&%,0)'./') ?+0"<)/0)/)2,0$+')"8)0$@0'/%'&/+)8$%5&%4<) +>?!!"25,2&,)./0)0,*,2/+)#,,'&%4)2""#0) &')+"0,0)#"2,)"%)'/3),*/0&"%)'./%)'.,)!"0')'./') /*/&+/@+,)'")&'0)#,#@,20)&%)-.&!.)'")."+5) 0$!.)!"%'2"+)-"$+5)&#1"0,)"%)&'0)+,4/+) /!'&*&'&,0)"2)1,28"2#)/%),3!./%4,6)7.,)+/'',2) /11/2/'$06)7.&0)2,#/&%0)'")@,)0,,%6 !/0,)&0)1/2'&!$+/2+()&#1"2'/%')8"2)#,#@,20) 7.&0)"24/%&0/'&"%/+)5&88,2,%!,)./0)0,*,2/+) -.")"88,2)0,2*&!,0)-.&!.)2,X$&2,)/%)&%',2&"2) +/0'&%4)!"%0,X$,%!,06)U&20'+(<)-.&+,)#"0') 01/!,)"2)8"2)'."0,)-.")/2,)%"')!"#8"2'/@+,) !"##$%&'()!$22,%!()0(0',#0)4,%,2/++()"1,2/',) &%*&'&%4)/%"'.,2)#,#@,2)&%)'.,&2)."#,)"2) "%)/)0.",0'2&%4)@$54,')-&'.)+&#&',5)2,0"$2!,0) #,,'&%4)&%)/)1$@+&!)01/!,6)7.,0,)#,,'&%4) JV,(8/%4)KLLKQ<)/0)/)0"!&/+),!"%"#()&%&'&/'&*,<) 2""#0)./*,)#/5,)&'),/0()8"2)+>?!!"25,2&,)'") +>?!!"25,2&,)./0)/!!,00)'")8$%5&%4)82"#)'.,) "24/%&H,)0,*,2/+)/!'&*&'&,0)#"%'.+(<)-.&+,)CDE) %"%912":&')0,!'"2)/%5)82"#)!"##$%&'() "%+()."+50)0"!&/+)/!'&*&'&,0)01"2/5&!/++(6)]$2&%4) International Journal of Community Currency Research 15 (2011) D 47-51

48

IJCCR Lâ&#x20AC;&#x2122;Accorderie and JEU in Quebec

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49

IJCCR L’Accorderie and JEU in Quebec Table 1: An overview of differences between L’Accorderie and JEU community currency systems in Quebec

L’Accorderie

JEU

Founded

2002

1998

Part of a larger network

Yes

Yes

Approximate membership

750

120

Official goals

The alleviation of poverty and social exclusion; solidarity

To provide a universal exchange system; solidarity

Model

State model, legal non-profit status

Grassroot model, no legal status

Type of organisational structure

Formal society; boards of directors; executive board

Horizontal, acephalous and informal

Legal status

Registered non-profit

Unregistered; no legal status

Human resources

Full-time staff

Volunteers

Budget

Funding, $100,000

Minimal, shoestring

Transaction system

Centralized records

Decentralized records

Office space

Yes

No

Microcredit

Yes

No

Social activities

Regular, Monthly

Sporadic

Activity rooms

Yes

No

Buyer’s group

Yes

No

Medium of exchange

Based on time

Arbitrary point system

Values of exchange

Fixed on time; one hour of any work equals one hour, no exception

Recommendation that 60 points should equal approximately one hour of work.

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International Journal of Community Currency Research 15 (2011) D 47-51

50

IJCCR L’Accorderie and JEU in Quebec

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References H("*&%#1='?7='_%'H*++]='b7'YONNc['d_>?$$*/&%/(%'e'(""1+,/#,(*)' $*)$/X,%'&>1)%'!/#,(f1%'%<!"($(,%4%),'+,/1$,1/]%'g'!#/,(/'&%' ">#!!/*$-%'$%),/]%'+1/'"%'&]0%"*!!%4%),'&1'!*10*(/'&>#9(/'&%+' !%/+*))%+'%,'&%+'$*""%$,(0(,]+>7'F#++%/%""%+='h*"'KYK[='!!7'ZZ'A'cN7 H*1"(#))%='\7'YONNP['d_%+'+5+,X4%+'&>]$-#)9%'&%'!/*<(4(,]e'1)%' ]$*)*4(%'!*"(,(f1%'&1',%4!+'%,'&%'"#'$*)+*44#,(*)>7'S)' R%//#)&*'5'F1(9='C7='i(#4!*/$#/*AJ#1)(X/%='J7'YD&7['F*1/'1)%'j' #1,/%'k'$*)+*44#,(*)7'J%)+'%,']4%/9%)$%'&>1)%'$*)+*44#,(*)' !*"(,(f1%7'_>B#/4#,,#)='I*""%$,(*)'U*++(%/+'J$(%)$%+'B14#()%+' %,'J*$(#"%+='J]/(%'I*)+*44#,(*)+'%,'J*$(],]+e'F#/(+'!!7KLcAKcl7 H*1"(#))%='\7'YONNZ['d@-%'4*0%4%),'6*/'#)'%$*)*45'*6' +*"(&#/(,5e'E/.#)'#9/($1",1/%'#)&'"*$#"'%<$-#)9%',/#&()9'+5+,%4+' ()'G1%.%$>7'W%+%#/$-'()'D$*)*45'?),-/*!*"*95='h*"'OM='!!7 OZKAOcL7 I*-%)='H7'YKcc^[7'!"#$%#&'()*"+$&,$-&.#+'I*/)%""'E)(0%/+(,5' F/%++='S,-#$#7' i/%9*/5='I7'YKccZ[7'TI*2/(%+'#)&'I*)f1%+,e'@*2#/&+'#' J1.#",%/)#,(0%'G1#"(,5'@-%*/5'*6'\*)%5V$I*4!#/#,(0%'J,1&5'*6' J*$(%,5'#)&'B(+,*/5='h*"'l^='Q*7'O='!!7'KcP'A'OKL7'' -)(/0$12$345678$9):;#0$*(<=#$).>$*(&?<@A$B>>(#CC#>$@&$D&(E<.'$ F#.0'i7'?""%)'m'E)2()='_*)&*)7' J%56#)9='i7'YONNO['d@#$:"()9'+*$(#"'%<$"1+(*)'2(,-'$*441)(,5' $1//%)$(%+e'"%#/)()9'6/*4'_D@J',*'@(4%'H#):+>7'S),%/)#,(*)#"' C*1/)#"'*6'I*441)(,5'I1//%)$5'W%+%#/$-='h*"'Z='!!7'KAKK7

R*/',-%',(4%'.%()9='">?$$*/&%/(%'#!!%#/+',*'.%'%<!#)&()9' +,%#&("5'#)&'+%0%/#"'*,-%/'$*441)(,(%+'-#0%'#"/%#&5' 4#)(6%+,%&'#)'(),%/%+,'()'"#1)$-()9',-%(/'*2)'./#)$-7'S)' 6#$,='">?$$*/&%/(%'-#+'/%$%),"5'6*1)&%&'#'/%9(*)#"'.*#/&' 2(,-'/%!/%+%),#,(0%+'6/*4'%#$-'./#)$-'()'*/&%/',*'.%,,%/' #&4()(+,%/',-%')%,2*/:'#+'2%""'#+',*'()+,(,1,(*)#"(+%'#' 2#5',*'+-#/%'#)&'!/*0(&%'%<!%/,(+%7 '

International Journal of Community Currency Research 15 (2011) D 47-51

51

KĂŠkfrank to boost the resilience of locality Zsuzsanna Eszter Szalay Covinus University of Budapest Department of Business Economics zsuzsanna.szalay@uni-corvinus.hu

IJCCR Abstract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

Introduction

International Journal of Community Currency Research www.ijccr.net

"+&Q$($00&BQ$($009&RSGTF<&?*$&C.#1-,'-#&1,$$#& 6"#$%&6"3$6$#)&5-(&:,$($#)$2&'#&2$)-'0&4%& U",)*&BU",)*9&;GGT9&'#&C.#1-,'-#7&;GGHF<&A'#/$& )*$#9&2.$&)"&)*$&$/"#"6'/&/,'('(9&)*$&#$$2&$3$#& (),$#1)*$#$2&)"5-,2(&)*$69&4.)&-0("&)*$& )*$",$)'/-0&4-('(&5'2$#$2<&?*$&(:,$-2'#1&"+& =#)$,#$)&*$0:$2&)*$&/',/.0-)'#1&"+&-0)$,#-)'3$& '2$-(9&)*$&",1-#'('#1&"+&/'3'0&/"#+$,$#/$(9& :,$($#)-)'"#(9&)*$&'#)$#('+%'#1&"+&VW?A&/',/0$(& -#2&0-()&4.)&#")&0$-()&)*$&/,$-)'"#&"+&)5"&0'#IX 2',$/)",%&5$4(')$&"#&)*'(&(.4Y$/)<

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istorical background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nternational Journal of Community Currency Research 15 (2011) D 52-56

52

IJCCR Kékfrank

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

!"#$%2#*-&2$&/$567/2*'7D$!*(`.$X#27&F`-V$ <',#2-&&7$-"#$+&%*+$-2*'.()..)&'$&/$*++&:*'%#.$ )'$7)',$)'$PWWK$*.$&'#$&/$-"#$(&.-$2#'&:'#,$ R<2)'9$-"#$-2*'.)-)&'$#%&'&(4$)'$-"#$4#*2.$ 2#.-*<2*'-$&:'#2.$)'$-"#$%)-4>$=#$)'-2&,<%#,$*$ INSN;INNSD$-"#$%#'-2*++4$1+*''#,$#%&'&(4$ "&-$/&&,$F&<%"#2$-"*-$%&<+,$@#$<.#,$)'$").$&:'$ %"*'9#,$)'-&$*$/2##$(*27#-$#%&'&(4>$!"#$.-*-#; 2#.-*<2*'-$*',$)'$&-"#2$2#.-*<2*'-.$*.$:#++$*',$ &:'#,$%&(1*')#.$:#2#$+)T<),*-#,D$-"#)2$ +*-#2$%&+,$/&&,D$9)/-D$*',$.%"&&+$F&<%"#2.D$*.$ *%-)F)-4D$/&2$-"#$(&.-$1*2-D$.-&11#,>$!"#$ .)'9+#;<.#$%&(1+#(#'-*24$%<22#'%4$<',#2$-"#$ =<'9*2)*'$#%&'&(4$,#%+)'#,D$-"#$'<(@#2$&/$ '*(#$&/$=Ca?>$3!"#$'*(#$"*.$,<*+$ #(1+&4#,$,#%2#*.#,$,2*.-)%*++4$*',$-"#$)(1&2-$ %&''&-*-)&'D$(#*')'9$b-*.-4$(&2.#+c$*',$*+.&$ ,#1#',#'%4$)'%2#*.#,>$!"#.#$-#',#'%)#.$,),$ b)/$:#c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d$&/$%&<2.#$-"#4$:#2#$(&.-$ @*.#,$&'$1#2(*%<+-<2#D$*+.&$-"#$%&'.#T<#'%#.$ 1&1<+*2$)'$0&12&'D$:"#2#$-"#4$:#2#$*%%#1-#,$ :#2#$F#24$%&'-2&F#2.)*+> )'$*2&<',$ISW$1+*%#.>$!"#$,#'.)-4$&/$-"#$ 1*2-)%)1*-)'9$F#',&2.$:*.$")9"#2$'#*2$-"#$+&%*+$ The appearance of a new form of enterprise, (*27#-D$.&$)-$).$+)7#+4$-"*-$-").$*+.&$"#+1#,$-").$ the European Cooperative Society (*27#-$-&$.<2F)F#$)-.$#%&'&()%*+$,&:'-<2'>$ !"#$=Ca?$F&<%"#2.$:#2#$*',$*2#$F#24$ abbreviated as SCE (EC, 2003), based on the @#'#G)%)*+$@&-"$/&2$-"#$%&(1*'4$&/$!*(`.$ Latin Societas Cooperativa Europae - was an X#27&F`-V$*',$/&2$-"#$F&<%"#2$*%%#1-)'9$ important prerequisite to the introduction of %&(1*')#.>$e'$&'#$.),#$%*1)-*+$2#.&<2%#.$*2#$ the Kékfrank. %2#*-#,D$*',$&'$-"#$&-"#2$.),#$-"#$-<2'&F#2$).$ )'%2#*.#,>$$ C-$-"#$#',$&/$-"#$.&%)*+).(D$-"#$%)-)V#'.$&/$ 0&12&'$%2#*-#,$").-&24$@4$&29*').)'9$-"#$X*'; Y<2&1#*'$X)%')%D$-"#$)')-)*-)&'$&/$-"#$<')&'$&/$ The innovation: Kékfrank introduced -"#$Z#2(*'$1&1<+*-)&'$3[*94D$[\C8>$

by European Cooperative Society

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International Journal of Community Currency Research 15 (2011) D 52-56

53

IJCCR Kékfrank

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International Journal of Community Currency Research 15 (2011) D 52-56

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International Journal of Community Currency Research 15 (2011) D 52-56

55

IJCCR Kékfrank

Acknowledgements

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References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`5$a++b#.(3&,-@$5.Dc#$C,*'#Q$d9-.)%,-$2(40/#4#,'%);$ 2&))#,2;$+'&1;$#R2&)+*(,$'($Pe*'b#)/%,1$HOJ:OL:DOL:OL:NOJO:I$ "''0Q@@-#-.)%,-:"&@/#'(/'#+@+6%f2*g'%,&/4%,;&':"'4/:$ d()'#,<$W%6*1$HNOO[IQ$_3#,1%$.()$%$8#e$B2(,(4;<$^#))#''D d("/#)<$NOO[:

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S*#'%#)<$^#),%)1$HNOOJIQ$W*#$c#/'$1#+$]#/1#+:$W%+$ _A-/h)&,3+=&2"<$_)#,%$i#)/%3$ 8%3;<$S7+b/j$H8@_IQ$!"#$E%,DB&)(0#%,$E*2,*2$%,1$'"#$(0#,*,3$(.$ '"#$=()1#)$JJ'"$(.$P#0'#4=#)$J[k[$<$"''0Q@@eee:=#)/*,#)D 4%&#):1#@/%+b/(D,%3;@/%b+/(,%3;D#,:"'4$ 894#'"<$5+'67,$HNOO[IQ$P&)6*6*,3$*,$+4%//$)#3*(,+Q$E(++*=*/*'*#+$ (.$'"#$l_,'m$F((0#)%'*6#$P(2*#';$4(1#/$*,$0)#+#,'$'*4#+$"''0Q@@ eee:+b()3(+:"&@*,1#R:0"0T (0'*(,U2(4g2(,'#,'n6*#eU%)'*2/#n*1UNJn5'#4*1UNL

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8()'"<$E#'#)$HNOOYIQ$F(,+')&2'*,3$F*6*/$P(2*#';T$D$])##,$`(,#;$ *,$!)%,+*'*(,$\&,3%);<$G#6:$(.$5,':$E(/:$B2(,(4;<$i(/:$JL<$8(:$J<$ 00:$NkDMN<Q$"''0Q@@eee:f+'():()3@+'%=/#@01.0/&+@NMJNKOYO:01.<$$$ So5o:$/%e<$NOOY<$%=(&'$B&)(0#%,$F((0#)%'*6#$P(2*#'*#+<$\&,3%);$ "''0Q@@eee:2(40/#R:"&@-b/1%'@'OYOOOY[:"'4@ 'OYOOOY[:"'4p-%3;J$$ Soooi:$S%e<$NOO[<$%=(&'$'"#$(..#)*,3$(.$0%;4#,'$+#)6*2#+<$ \&,3%);$"''0Q@@eee:0+b%.:"&@1%'%@ 24+NOkVJ[k@NOO[gSoooi'6:01.$$ Soooi5:$S%e<$NOO[<$%=(&'$A*,%,2*%/$*,+'*'&'*(,+$%,1$A*,%,2*%/$ +#)6*2#+$

International Journal of Community Currency Research 15 (2011) D 52-56

56

The SOL: A Complementary Currency for the Social Economy and Sustainable Development

IJCCR

Maries Fare University of Lyon 2, Institut des Sciences de lâ&#x20AC;&#x2122;Homme marie.fare@univ-lyon2.fr

Abstract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

Introduction

1. Co-operation SOL

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

Three types of SOL

International Journal of Community Currency Research

=4$">?@"G'+-"*,$H3*+$2&")(+)"+4$"/)(+$E+"):"+4$" $E1$%'0$(+":%)0"+4$"+4'%,"-$/+)%")%"-)/'*2" $/)()0&"+)"/%$*+$"*"/))1$%*+'#$"$E/4*(.$" -/4$0$"):"-)/'*2"*(,"$/)2).'/*2"3-$:32($--"*(," +43-"/)05'($-"+4%$$"+&1$-"):">?@"'("*(" $2$/+%)('/"/*%,"IJ$2'22$"*(,"K4'+*A$%L"788MN<" =4$-$"*%$"();",$-/%'5$,"'("+3%(<"

www.ijccr.net

International Journal of Community Currency Research 15 (2011) D 57-60

57

IJCCR The SOL

2. Commitment SOL !"#$%&'(()*(#+*$,-./$0)(1$*'$23'('*#$ #45"0+6#$*)(#$15"#(#1$0+7$*'$(08#$9)1):;#$0+7$ 055'<+*0:;#$9';<+*03=$>'38?$.)8#$,@.$'3$!)(#$ A0+8B$)*$)1$(#01<3#7$>)*"$*)(#$0+7$)*$)1$<1#7$:=$ *)(#C:01#7$;'50;$#45"0+6#$15"#(#1?$!"#$;0**#3$ (#5"0+)1($)1$0$(<*<0;$0+7$D3##$53#7)*?$!"#$ 15"#(#$)1$:01#7$'+$#E<0;)*=F$'+#$"'<3$#E<0;1$ '+#$"'<3B$>"0*#9#3$*"#$*018?$!"#$':G#5*)9#$)1$*'$ #+"0+5#$+'+C('+#*03=$05*)9)*)#1$0+7$18);;1$'D$ #05"$>");#$7#9#;'2)+6$1'5)0;$*)#1$0+7$ 5'+9)9)0;)*=?$H+'*"#3$022;)50*)'+$)1$*"#$ 2'11):);)*=$'D$5'(:)+)+6$;'50;$2<:;)5$1#39)5#1$ >)*"$9';<+*03=$>'38$)+$'37#3$*'$7#9#;'2$ #45"0+6#1$:#*>##+$2#'2;#$>"'$7'+I*$"09#$ (<5"$('+#=?$

3. Dedicated SOL !"#$%J#7)50*#7$,-./$)1$0$9'<5"#3$0;;'50*#7$:=$ *"#$2<:;)5$1#5*'3$*'$12#5)K)5$*036#*$63'<21B$ 0;;'>)+6$*"#($*'$055#11$12#5)K)5$6''71$'3$ 1#39)5#1$1<)*0:;#$*'$3#05"$*"#$6'0;1$'D$*"#$,-.$ 15"#(#?$!")1$)1$0$*'';$D'3$2<:;)5$0<*"'3)*)#1?$ !"#$7#7)50*#7$,-.$"01$1#9#30;$0790+*06#1?$L*$ "#;21$)+5;<7#$(036)+0;)1#7$2#'2;#$)+$0$;036#3$ 5)35<)*B$6)9)+6$*"#($'22'3*<+)*=$*'$203*)5)20*#$ )+$'*"#3$,-.$+#*>'381$0+7$*'$90;'3)1#$*"#)3$ 05*)9)*)#1$0+7$50205)*)#1?$L+$*")1$>0=B$*"#$ 7)153)()+0*)'+$;)+8#7$*'$*307)*)'+0;$1'5)0;$ 9'<5"#31$7)1022#031?$A<*$)*$50+$0;1'$6<)7#$ 5'+1<(2*)'+$*'>0371$('3#$#+9)3'+(#+*0;;=$ D3)#+7;=$23'7<5*1? &<33#+*;=$*>'$5'(2'+#+*1$'D$*"#$,-.B$*"#$ 5'(()*(#+*$0+7$7#7)50*#7$'+#1B$3#(0)+$ 3#;0*)9#;=$<+7#9#;'2#7$)+$*"#$*#33)*'3)#1$'D$ )(2;#(#+*0*)'+?M$N'>#9#3$1'(#$;'50;)*)#1$OD'3$ #40(2;#$&03"0)4$A3)**0+=P$"09#$7#9#;'2#7$*"#$ 7#7)50*#7$,-.?$,)();03;=$*"#$5'(()*(#+*$,-.$ "01$:##+$#1*0:;)1"#7$)+$Q3#+':;#?$N'>#9#3B$ '9#30;;$*"#$,-.$1##(1$*"#3#D'3#$('3#$0$63##+$ ;'=0;*=$5037$;)8#$R#76#S$5037$'3$TU$5037V?

SOL: A multi-actor scheme

â&#x20AC;&#x153;The dedicated SOL has several advantages. It helps include marginalised people in a larger circuit, giving them opportunity to participate in other SOL networks and to valorise their activities and capacities. In this way, the discrimination linked to traditional social vouchers disappears.â&#x20AC;? @_UH.$1<22'3*#7$,-.$15"#(#$<2$*'$`]a$'D$ D<+7)+6$7<3)+6$#42#3)(#+*0*)'+?$W'<3$ '360+)b0*)'+1$'D$1'5)0;$#5'+'(=$1<22'3*$)*$<2$ *'$M]a$'D$D<+7)+6F$%&"cE<#$JZG#<+#3/$O0$ >'38#3I1$5'C'2#30*)9#$0+7$'+#$'D$*"#$>'3;7I1$ ;#07#31$)+$9'<5"#3$)11<#$0+7$(0+06#(#+*PB$ %&3Z7)*$&''2Z30*)D/$O0$5'C'2#30*)9#$:0+8PB$ XH&LW$0+7$XHLW$O*>'$(<*<0;$)+1<3#31P?$ X'3#'9#3B$*"#$,-.$15"#(#$'2#30*#1$)+$ 5';;0:'30*)'+$>)*"$(0+=$05*'31F d !"#$'360+)b0*)'+1$'D$1'5)0;$#5'+'(=$'3$*")37$ 1#5*'3B$>")5"$5'<;7$:#B$:=$1*0*<*#B$5'C '2#30*)9#B$(<*<0;)1*$'3$011'5)0*)9#$0+7$>")5"$ 5'<;7$'DD#3$6''71$0+7e'3$1#39)5#1$01$D0)3$ 23'7<5*1B$'360+)5$D''71B$1';)703)*=$*'<3)1(f$ !"#)3$0)($)1$*'$#+5'<306#$0+$#5'+'()5B$ 1<1*0)+0:;#$0+7$;'50;$7#9#;'2(#+*?$!"#$ 203*)5)20*)'+$'D$#05"$'360+)b0*)'+$*'$,-.$ +#*>'38$3#E<)3#1$0$5#3*)K)50*)'+?$!")1$ 5#3*)K)50*)'+$5'+*0)+1$D'<3$53)*#3)0?$!"#$K)31*$ 0+7$*"#$1#5'+7$03#$3#2'3*$*'$#*")50;$0+7$ 1'5)0;$)11<#1$Og5'+*3):<*#$*'$0+$#5'+'(=$ >"#3#$*"#$"<(0+$"01$('3#$2;05#g$0+7$ g7#9#;'2)+6$7#('530*)5$0+7$5''2#30*)9#$ 2305*)5#1/P?$!"#$*")37$53)*#3)'+$)1$ #+9)3'+(#+*0;$Og*'$5'+*3):<*#$*'$0$63##+#3$ #5'+'(=/P$0+7$*"#$;01*$3#D#31$*'$;'50;$ #5'+'()5$7#9#;'2(#+*$*'$gD'1*#3$*"#$ 53#0*)'+$'D$05*)9)*)#1B$*"#$1<1*0)+0:);)*=$'D$ G':1$0+7$)+9';9#(#+*$)+$*"#$*#33)*'3=/? d [#6)'+0;$6'9#3+(#+*$0+7$2<:;)5$0<*"'3)*)#1$ >"'$1<:1)7)b#$<2$*'$S]a$0+7$<1#$,-.$ 15"#(#$01$0$*'';$D'3$2<:;)5$2';)5=?$!"#$ )+*#630*)'+$'D$;'50;$0<*"'3)*)#1$)+$*"#$15"#(#$ 6)9#1$)*$0$")6";=$)++'90*)9#$7)(#+1)'+?$ L+7##7B$)*$)1$303#$*"0*$;'50;$0<*"'3)*)#1$ )+*#630*#$*"#1#$15"#(#1$0+7$<1#$('+#=$01$0$ *'';$'D$2<:;)5$2';)5=?$L+$*")1$5'+*#4*$*"#$,-.$)1$ )+$;)+#$>)*"$D'<3*"$6#+#30*)'+$15"#(#1$;)8#$ TU$5037$OA;0+5$0+7$W03#B$M]h]P?$

!"#$,-.$5<33#+5=$15"#(#$)1$'2#30*)'+0;$)+$ 1#9#+$W3#+5"$3#6)'+1$OH;105#B$HE<)*0)+#B$ A3)**0+=B$L;#$7#$W30+5#B$X)7)CY=3Z+Z#1B$T'37C Y01C7#C&0;0)1$0+7$["\+#CH;2#1P$0+7$#12#5)0;;=$ )+$5#3*0)+$;'50;)*)#1$)+$*"#1#$3#6)'+1$)+5;<7)+6$ D'3$#40(2;#$&03"0)4B$Q3#+':;#B$.);;#B$[#++#1B$ !'<;'<1#B$X<;"'<1#B$#*5?$U+*);$*"#$#+7$'D$M]]^$ )*$>01$1<22'3*#7$:=$0$@<3'2#0+$23'630(B$ @_UH.`B$D<+7#7$:=$*"#$@<3'2#0+$,'5)0;$W<+7?$ International Journal of Community Currency Research 15 (2011) D 57-60

58

IJCCR The SOL

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`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d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`%1,#a],/4(4K$0,4(9,ABC,-'Z'09)(45'0@, /.+5)&+$%,4-5'0%:,X.5,)5,0$D.)0$%,*'53,)(-0$4%)(K,53$, '($,'7,53$,9)7b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b)-.+5,5', -.00$(5+8,0$/4)(%,4,0$+45)6$+8,%/4++,%)L$9,%-3$/$:,A$6$04+, 46')9,'($,'53$0,$+$/$(5:,ABC,%-3$/$,0$D.)0$%,$+$-50'()-, $O&+4(45)'(%,-4(,*$,4964(-$9,5',$O&+4)(,53)%, 5$-3('+'K8@,4%,&')(5Z'7Z%4+$,R[BAS,%-3$/$@,-3)&%,-409%, &3$('/$('(,4%,53$,5$-3()-4+)58,'7,)5%,)/&+$/$(545)'(@, 4(9,*4-GZ'7b)-$@,23)-3,('5,'(+8,0$D.$%5,b)(4(-)4+, 3./4(,74-5'0%@,7.(9)(K,&0'*+$/%@,53$,&%8-3'+'K)-4+, )(6$%5/$(5,4(9,5$-3('+'K)-4+,G('2Z3'2,*.5,4+%',($$9%,5', *400)$0%@,$5-:,;('53$0,$O&+4(45)'(,7'0,53$,+'2,9)77.%)'(, $9.-45$,.%$0%:,F3)%,+$6$+,'7,-'/&+$O)58,4(9,b)(4(-)4+, /48,+)$,)(,53$,+4-G,'7,-)6)+,%'-)$58,)(,54G)(K,4K4)(,'7,4, 4%&$-5,/)K35,*$,4,%50'(K,*400)$0,7'0,53$,9$6$+'&/$(5,4(9, %-3$/$,)(50'9.-$9,70'/,53$,5'&:,V(+)G$,'53$0, 0$&0'9.-5)'(,'7,53$,ABC,%-3$/$:, -'/&+$/$(5408,-.00$(-8,%-3$/$%@,53$,ABC,9'$%,('5, 0$%.+5,70'/,4(,)()5)45)6$,'7,-)6)+,%'-)$58,RK04%%0''5%, )(('645)'(%S@,*.5,)5,)%,53$,&0'9.-5,'7,4(,4(4+8%)%,)(,4, Issues of SOL development 2'0GK0'.&,4(9,53$(,)5,24%,)/&+$/$(5$9,)(,$O&$0)/$(54+, 5$00)5'0)$%:,e$,0$/4)(%,3$+9,'(,4,&804/)9,2)53,4,%50'(K, B($,'7,53$,/4_'0,&')(5%,'7,)(5$0$%5,4*'.5,ABC,)%,5345,)5, )(b+.$(-$,'7,53$,5'&,RM3$D.$,]$_$.($0@,M0$9)5,M''&$045)6$@, -'/*)($%,%$6$04+,'6$04++,'*_$-5)6$%,2)53,530$$, d;NT,4(9,d4-)7S,9$%&)5$,-$054)(,9$-$(504+)L45)'(,45,53$, 9)/$(%)'(%,)(-+.9)(K,53$)0,'2(,9)77$0$(5,K'4+%,RT40$@, 0$K)'(4+,+$6$+:,f$,-4(,53$0$7'0$,4%%./$,5345,53)%, <==HS:,N(,74-5@,)5,-'/*)($%,530$$,-'/&+$/$(5408, %50.-5.0$,%'/$5)/$%,+$49%,5',+)/)5,53$,0''/,7'0, -.00$(-)$%,%-3$/$%,)(,4,%)(K+$,%-3$/$c,4,+'84+58,-409, /4('$.60$,'7,5$00)5'0)$%,4(9,-'//.()-45)'(,9)7b)-.+5)$%, &0'6)9)(K,4,&.0-34%)(K,&'2$0@,4,5)/$,$O-34(K$,%-3$/$, *$52$$(,K04%%0''5%,Rg$O&$0)/$(5$0%gS,4(9,5'&, R4%,F)/$,*4(G%S,4(9,4,6'.-3$0:,T)0%5,'7,4++@,)5,4++'2%,5', %5)/.+45$,+'-4+,4-5)6)5)$%,4(9,5',9$6$+'&,4,%'-)4+,$-'('/8, Rg53$'0)%5%gS,)%,-4.%)(K,+4-G,'7,-'++$-5)6$,4(9,+'-4+,54G)(K, 4K4)(,-'(50'+,'7,ABC:,e'2$6$0@,%)(-$,53$,$(9,'7,53$, ($52'0G,4(9,)5%,4-5)6)5)$%:,X$%)9$%,53)%@,)5,&0'/'5$%, -'(%./$0,0$%&'(%)*)+)58,)(,7'%5$0)(K,+'-4+,4(9,%.%54)(4*+$, $O&$0)/$(54+,&$0)'9,R%)(-$,53$,$(9,'7,<==hS@,53$,ABC,34%, -'(%./&5)'(,R4,9$b)($9,*04(9,4(9,4,-3405$0S@,%.-3,4%,74)0, $(5$0$9,4,($2,&34%$,'7,0$b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nternational Journal of Community Currency Research 15 (2011) D 57-60

59

IJCCR The SOL

Endnotes !!"!#!$%&'$(!)!'$!*!+,-$%.!/0%!*10,-,$!(%!2345 "!6%!7.%/!(0,!1,8,&%+9,.(!*.1!(%!0*8,!9%-,!'.:%-9*('%.!%:!(0,!

234!$,,!(0,!/,;$'(,<!0((+<==///5$%&>-,$,*?5%-@= #!2,,!(0,!/,;$'(,<!0((+<==///5/,1@,A*-15A%5?7 $!2,,!(0,!/,;$'(,<!0((+<==///5.?$+**-+*$5.& %!60,!BCD"4!E.'('*('8,!;-'.@$!:-,$0!'1,*$!(%!(0,!B?-%+,*.!

B9+&%F9,.(!2(-*(,@F!*.1!(0,!2%A'*&!'.A&?$'%.!+-%A,$$5!E($!

9'$$'%.!'$!(%!+-%9%(,!*!;,((,-!9%1,&!:%-!/%-7'.@!&':,!;F!G'@0('.@!

1'$A-'9'.*('%.!*.1!,HA&?$'%.!%.!(0,!;*$'$!%:!@,.1,-I!-*A'*&!%-! ,(0.'A!%-'@'.I!-,&'@'%.!%-!;,&',:I!1'$*;'&'(FI!*@,!%-!$,H?*&! %-',.(*('%.5

References J&*.AI!K5!*.1!L*-,I!M5!NOPQPR!SC?,&!-T&,!+%?-!&,$!A%&&,A('8'(U$! &%A*&,$!1*.$!&*!9'$,!,.!V?8-,!1,!+-%W,($!1,!9%..*',$!$%A'*&,$!XY! ZZZ,$!K%?-.U,$!1,!&Y"$$%A'*('%.!1YBA%.%9',!2%A'*&,!N"B2R! #!6-*.$:%-9*('%.!,(!'..%8*('%.$!UA%.%9'[?,$!,(!$%A'*&,$!,.!

B?-%+,!<![?,&&,$!$%-(',$!1,!A-'$,!X!\,@*-1$!'.(,-1'$A'+&'.*'-,$!)I! %-@*.'$U,$!+*-!&,!],.(-,!E.(,-1'$A'+&'.*'-,!1,!\,A0,-A0,!6-*8*'&I! B(*(!,(!2%A'U(UI!D.'8,-$'(U!]*(0%&'[?,!1,!4%?8*'.I!]0*-&,-%'I! J,&@'[?,I!^>QP!$,+(,9;-,!OPQP5! _,&'&&,I!`5!*.1!a0'(*7,-I!]5!NOPPbR!S4,!+-%W,(!234!<!+%?-!-,(-%?8,-! &,!$,.$!1,$!8*&,?-$Y5!E.!J&*.AI!K5!NB15R!M%..*',$!$%A'*&,$I!\*++%-(!

BHA&?$'%.!,(!&',.$!G'.*.A',-$!OPPc=PbI!BA%.%9'A*I!`*-'$!++5 deO>^f5 L*-,I!M5!NOPP^R!S4,$!9%..*',$!A%9+&U9,.(*'-,$I!1,$!%?('&$!*?! $,-8'A,!1,!&*!\2B!Xg!fh!A%.@-i$!1?!\E3__!<!g4*!\2B!<!?.,! .%?8,&&,!-U@?&*('%.!1?!A*+'(*&'$9,g5!4'&&,I!QO!+5 L*-,I!M5!NOPPjRI!S4,!-T&,!1,$!-U$,*?H!1*.$!&*!+,-:%-9*('%.!1k?.,!

'1U,!<!&k0'$(%'-,!1?!+-%W,(!234I!?.,!9%..*',!l!?('&'(U!$%A'*&,!,(!

UA%&%@'[?,Y!D.+?;&'$0,1!9*$(,-Y$!1,@-,,!1'$$,-(*('%.I! D.'8,-$'(F!%:!4F%.!O5 m,$,&&I!25!NQ^O^RI!60,!n*(?-*&!BA%.%9'A!3-1,-!<!*!`&*.!(%!2,A?-,! *.!D.'.(,--?+(,1!BHA0*.@,!%:!(0,!`-%1?A($!%:!4*;%?-!oQ^QQp5!

6-*.$5!`0'&'+!`F,5!J,-&'.!<!n,%>q,-&*@5 M'A0,&,(('I!M5!*.1!_',(&'.1I!25!NOPPbR!S]%.A,+(!%:!`%&'('A*&! ]%.$?9,-'$9Y5!E.!4%..',I!\5!25!NB15R!r%?(0!"A('8'$9s".!

E.(,-.*('%.*&!B.AFA&%+,1'*I!q%&5!OI!m-,,./%%1!`?;&'$0'.@I! a,$(+%-(!

International Journal of Community Currency Research 15 (2011) D 57-60

60

Building Local Resilience: The Emergence of the UK Transition Currencies Josh Ryan-Collins new economics foundation

IJCCR

josh.ryan-collins@new-economics.org

Abstract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

Introduction

International Journal of Community Currency Research www.ijccr.net

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

The Transition Network ;(#$;,5"*+'+%"$K#'<%,H$+*$5$-0%950$-,5**,%%'*$ )%/#)#"'$%&$4%))7"+'+#*$*##H+"-$'%$4,#5'#$ -,#5'#,$0%450$,#*+0+#"4#$5".$<#00I9#+"-$+"$'(#$ &54#$%&$'(#$'<+"$'(,#5'*$%&$40+)5'#$4(5"-#$5".$ 1#5H$%+0>$$;,5"*+'+%"$'(+"H+"-$.,5<*$+"*1+,5'+%"$ &,%)$1#,)5470'7,#$5".$#4%0%-6$5*$'(#$95*+*$&%,$

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

International Journal of Community Currency Research 15 (2011) D 61-67

61

IJCCR The UK Transition Currencies

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Transition Local Currencies

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62

IJCCR The UK Transition Currencies

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International Journal of Community Currency Research 15 (2011) D 61-67

63

IJCCR The UK Transition Currencies

Table 1: Background information on the Transition currencies (Jan 2010)

Launch

ÂŁ In Circulation 4

No. Businesses

Population

Totnes

March 2007

c.5000

c.70 (2008)

8,000

Lewes

September 2008 (first issue), July 2009, (2nd issue)

c.15,000 (2nd issuance)

c.130

16,000

Stroud

September 2009

4,329

37

20,000

Brixton

September 2009

30,000

140

65,000

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a) Incentives for consumers and businesses I+-$:A@'%$+'#-+:%+@%',$:!!+&#+')(-'%$+'6-:&@"%"(&' ,0--+&,"+@'"@'%$:%'%$+'+?"@%"&#';(8+!'"@'8+A+&8+&%=' <-(:8!C'@A+:H"&#='0A(&'&(&G+,(&(;",'"&,+&%"/+@5''.@' %$+',0--+&,C'+?,$:&#+@':%'1'%('1'>"%$'EF'@%+-!"&#':&8' &(&+'()'%$+'@,$+;+@'$:/+'<++&'@0,,+@@)0!'"&' ";A!+;+&%"&#',(;A0!@(-C'8"@,(0&%@=',(&@0;+-@' ;:"&';(%"/:%"(&')(-'0@"&#'%$+',0--+&,C'"@':'<+!"+)'"&' %$+'+%$",:!'A-"&,"A!+@'()'%$+'"&"%":%"/+5''6$"@';:C' -+@%-",%'%$+'0@+'()'%$+',0--+&,C'%('%$+'@;:!!'

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b) Social justice challenges R+!:%+8'%('%$+':<(/+='%$+-+':-+'M0+@%"(&@':@'%('$(>' %$+'6-:&@"%"(&',0--+&,"+@'@0AA(-%'A+(A!+'(-' <0@"&+@@+@'):,"&#'S"&:&,":!'+?,!0@"(&'(-'+,(&(;",' $:-8@$"A=':&'"@@0+'%$:%'$:@',(;+'%('%$+'@0-):,+' @"#&"S",:&%!C'"&'%$+'A:@%'%>('C+:-@'>"%$'%$+'-+,+@@"(&5'' 6$+'$:-8',0--+&,C';(8+!'8(+@'&(%',-+:%+':&C'H"&8'()' :88"%"(&:!'!"M0"8"%C'@"&,+'+/+-C'&(%+';0@%'<+' +?,$:&#+8')(-'EF'@%+-!"&#':&8'@('):-'%$+'@,$+;+@' $:/+'<++&'0&:<!+'%('8+/+!(A':'!(:&';+,$:&"@;5''T(-' 8(+@'"%'+&:<!+':&C':88"%"(&:!'(-':!%+-&:%"/+')(-;@'()' +?,$:&#+'(-'+?A!("%'0&8+-0%"!"U+8',:A:,"%"+@'>"%$"&' ,(;;0&"%"+@5''6$"@',(&%-:@%@=')(-'+?:;A!+='>"%$' ,0--+&,"+@'>$",$'$:/+'&(&G;(&+%:-C'<:,H"&#='@0,$' :@'%";+G<:,H+8',0--+&,C'@C@%+;@='>$",$':-+':<!+'%(' "&/(!/+'A+(A!+'"&'+?,$:&#+@'>$(':-+',0--+&%!C' +?,!08+8'<C'%$+';:-H+%5'

International Journal of Community Currency Research 15 (2011) D 61-67

64

IJCCR The UK Transition Currencies

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

â&#x20AC;&#x2DC;volunteer fatigueâ&#x20AC;&#x2122; remains a major challenge for the Transition currencies given the dependence on unpaid labour for much of the promotional and business engagement work

c) Financial sustainability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

2*9#($%"#$-#<#(-#(/#$+($8(<'*-$.'3+8&$?+&$ ,8/"$+?$%"#$<&+,+%*+('.$'(-$38)*(#))$ #(2'2#,#(%$=+&4A$$D%&+8-$*)$%"#$+(.>$*(*%*'%*9#$ %+$"'9#$38*.%$*($%+$*%)$,+-#.$'$?'/*.*%>$?+&$ 2#(#&'%*(2$?8(-*(2$T$%"&+82"$,#,3#&)"*<$'(-$ &#-#,<%*+($?##)$T$38%$'%$<&#)#(%$%"*)$-+#)$(+%$ 2#(#&'%#$#(+82"$?8(-*(2$%+$<'>$?+&$.'3+8&$ %*,#A$

d) Measurement and Evaluation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

e) Under-developed banking infrastructure and support !"#$!&'()*%*+($/8&&#(/*#)$*($%"#$01$"'9#$ )%&822.#-$%+$C*(-$)8<<+&%$?&+,$#*%"#&$%"#$ ,'*()%&#',$/+,,#&/*'.$3'(4*(2$+&$/+,,8(*%>$ C*('(/#$)#/%+&)A$$!"*)$<.'/#)$)*2(*C*/'(%$ '--*%*+('.$38&-#($+($%"#$9+.8(%##&)$*(9+.9#-$%+$ /'&&>$+8%$'-,*(*)%&'%*+(@$&#/+(/*.*'%*+($'(-$ '//+8(%*(2$?8(/%*+()A$$Z%$'.)+$.*,*%)$%"#$ <+%#(%*'.$+?$-#9#.+<*(2$.+/'.$/8&&#(/>$3'(4$ '//+8(%$?'/*.*%*#)$+&$.+'($*(*%*'%*9#)@$3+%"$+?$ ="*/"$,*2"%$3#$=#./+,#-$3>$%"#$),'..$ 38)*(#))#)$)*2(#-$8<$%"#$)/"#,#)@$,'(>$+?$ ="+,$)%&822.#$%+$'//#))$/&#-*%$?&+,$ /+,,#&/*'.$3'(4)A$ Z%$,'>$3#$%"'%$%"#$016)$3'(4*(2$)>)%#,@$="*/"$ "')$)##($%"#$2&'-8'.$-*)'<<#'&'(/#$+?$.+/'.$'(-$ &#2*+('.$3'(4)$'(-$'$&#-8/%*+($*($3&'(/"#)$ ?+..+=*(2$%"#$C*('(/*'.$-#&#28.'%*+($+?$%"#$ G[\X)$'(-$G[[X)$PL#>)"+($'(-$D*2(+&#%%'$

International Journal of Community Currency Research 15 (2011) D 61-67

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IJCCR The UK Transition Currencies

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

f) Challenges of scale and demand

\5 67/%&1@)+@/;/1.%)<%'4@&12'%410%&1@/'.;/1.%&1'.&.-.&)1'% (*)@&0&12%+)34+%E&1413/>%()''&A+,%&1%(4*.S(4,;/1.% .7*)-27%.7/%3-**/13,>%.)%'-'.4&14A+/%A-'&1/''/'%410% E&1413&4++,%/D3+-0/0%&10&@&0-4+'5%%P%(4*.&3-+4*%Z-/'.&)1% ?)-+0%A/%7)?%.7/%89%'./*+&12%A43B&12%*/'/*@/'%)<%.7/% +)34+%3-**/13&/'%3)-+0%A/%-.&+&'/0%.)%(*)@&0/%3);;-1&.,% E&1413/%<)*%+)34+%A-'&1/''/'%)*%E&1413&4++,%/D3+-0/0% */'&0/1.'%)<%.7/%4*/45

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

Looking to the future

T/'(&./%.7/'/%374++/12/'>%.7/*/%*/;4&1'%3)1'&0/*4A+/% )(.&;&';%4A)-.%.7/%<-.-*/%)<%.7/%6*41'&.&)1%3-**/13&/'% 410%4%1-;A/*%)<%4*/4'%4(4*.%<*);%.7/%<)-*%/D&'.&12% '37/;/'%4*/%0/@/+)(&12%.7/&*%)?1%;)0/+'5%%9/,%4*/4'%<)*% <-*.7/*%*/'/4*37%410%/D(+)*4.&)1%.)%&;(*)@/%.7/% /<</3.&@/1/''%)<%.7/%6*41'&.&)1%3-**/13&/'%4*/%4'%<)++)?'U% L5

67/%3*/4.&)1%)<%/+/3.*)1&3%(4,;/1.%410%.*40&12% ','./;'%')%.74.%.7/%3-**/13,%&'%1).%+&;&./0%.)%34'7% .*41'43.&)1'5%%67&'%?)-+0%74@/%4%1-;A/*%)<% 40@41.42/'%&13+-0&12U V W-37%A/../*%&1<)*;4.&)1%)1%7)?%.7/%3-**/13,%&'% 3&*3-+4.&12%4;)12'.%A-'&1/''/'%410%-'/*'%410%.7-'% ?74.%&1./*@/1.&)1'%?)-+0%A/%;)'.%-'/<-+%&1% /17413&12%.7/%'37/;/

1/<%K.7/%1/?%/3)1);&3'%<)-104.&)1$%410%.7/%6*41'&.&)1% `/.?)*B%74@/%*/3/1.+,%/;A4*B/0%)1%4%(*)a/3.%.)%3)10-3.% '3)(&12%*/'/4*37%)1%7)?%.)%/17413/%.7/%.*41'&.&)1% 3-**/13&/'%Y%6*41'&.&)1%H-**/13&/'%!5"%S%?7&37%?&++%A/% /D4;&1&12%4%1-;A/*%)<%.7/%4A)@/%4*/4'5

Acknowledgements 67&'%(4(/*%)*&2&14./0%<*);%4%+)34+%3-**/13,%'/;&14*%)*241&'/0% A,%1/<%K.7/%1/?%/3)1);&3'%<)-104.&)1$%410%67/%6*41'&.&)1% `/.?)*B>%'-(()*./0%A,%.7/%6-0)*%6*-'.5%%]&.7%.741B'%.)% ;/;A/*'%)<%.7/%:.*)-0%Q)-10>%C*&D.)1%Q)-10>%O/?/'%Q)-10%410% 6).1/'%Q)-10%<)*%.7/&*%4''&'.413/%&1%24.7/*&12%&1<)*;4.&)1%<)*% .7&'%4*.&3+/%410%.)%`)/+%O)127-*'.%410%W)++,%:3)..SH4.)%<)*% 3);;/1.'%)1%.7/%(4(/*5

V N(()*.-1&.&/'%.)%&13+-0/%.7/%E&1413&4++,%/D3+-0/0%)*% .7)'/%?7)%3411).%2/.%433/''%.)%4%A41B%433)-1.>%<)*% /D4;(+/%.7*)-27%-'&12%;)A&+/%(7)1/'%.)%'.)*/% 3*/0&.'%X

International Journal of Community Currency Research 15 (2011) D 61-67

66

IJCCR The UK Transition Currencies

Endnotes

References

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3#$$')0('2!0-)!.'!*+#)4!()!5'%'!6+$%&72!$'0')%!.++89!:;+0-<! =+)'>79!?#.<(2&'4!.>!%&'!1$-)2(%(+)!)'%@+$8!()!A#)'!BCDCE "!"+$!,+$'!()*+$,-%(+)!+)!%&'!&(2%+$>!-)4!-(,2!+*!1$-)2(%(+)9!

2''F!&%%?FGG%$-)2(%(+)%+@)2E+$/!-)4!H+.!I+?8()2!.++89!1&'!

1$-)2(%(+)!I-)4.++8F!*$+,!+(<!4'?')4')0>!%+!<+0-<!$'2(<(')0'9!

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5+#)4!-)4!(%2!0-?-0(%>!%+!.#(<4!$'2(<(')0'!()!%&'!0+,,#)(%>!+*! a)%'$'2%!-)4!=+)'>9!L6!5#.<(2&()/ ;'@'279!#)?#.<(2&'4!=O!%&'2(29!Y)(X'$2(%>!+*!c-2%!O)/<(-E ;'>2&+)9!OE!-)4!P(/)+$'%%-9!5E!JBCCMN!:O<<!/+)'!)+@F!%&'!,-%'$(-<9! ^!1&'!=b?'2-!20&','!()!Z')>-!-<<+@2!`()-)0(-<!?->,')%2!#2()/! 4(20#$2(X'!-)4!?+<(%(0-<!'$-2#$'!+*!.-)8!-)4!.#(<4()/!2+0('%>! ,+.(<'!?&+)'2!-)4!&-2!&'<?'4!$'X+<#%(+)(d'!%&'!*-$,()/!%$-4'E!! .$-)0&'2!()!L$(%-()7E!O)%(?+4'9!eCF!^\QDCDE P''!&%%?FGG@@@E2-*-$(0+,E0+E8'G()4'RE?&?S(4T^e[! ;('%-'$9!LE9!JBCCDN!1&'!"#%#$'!+*!=+)'>F!3$'-%()/!6'@!l'-<%&9! l+$8!-)4!-!l(2'$!l+$<49!;+)4+)F!3')%#$> P-0829!A9!JBCCBN!1&'!=+)'>!1$-(<9!O??')4(R![9!;+)4+)F!)'*!J%&'! )'@!'0+)+,(02!*+#)4-%(+)N9!??DDebDD^9!-00'22(.<'!-%!&%%?FGG @@@E)'@'0+)+,(02E+$/G/')G#?<+-42G1&']BC=+)'> ]BC1$-(<E?4*!

P%+44'$9!A9!JBCC[N!H'0(?$+0-<!cR0&-)/'!6'%@+$82F!a,?<(0-%(+)2! *+$!,-0$+'0+)+,(0!2%-.(<(%> 1$-)2(%(+)!L$(2%+<9!JBCDCN!:O!L$(2%+<!5+#)4!*+$!%&'!3(%>!-)4!%&'!

P+#%&@'2%79!-X-(<-.<'!-%!@@@E-/+$-2?-0'E+$/G4+0#,')%G?4*G 4+0#,')%DCCBm[mDC[DE?4*!f-00'22'4!BB)4!A#)'!BCDCh l-<8'$9!L9!I+<<()/'$9!3EP9!3-$?')%'$9!PEHE!U!Z()d(/9!OE!JBCCeN! nH'2(<(')0'9!O4-?%-.(<(%>!-)4!1$-)2*+$,-.(<(%>!()!P+0(-<!

'0+<+/(0-<!2>2%',2oE!c0+<+/>!-)4!P+0('%>!\!JBN!?[E l-$49!L9!-)4!;'@(29!AE9!JBCCBN!5<#//()/!%&'!;'-82F!,-8()/!%&'! ,+2%!+*!'X'$>!?+#)4!%&-%!')%'$2!>+#$!<+0-<!'0+)+,>9!)'*!J)'@!

'0+)+,(02!*+#)4-%(+)!

International Journal of Community Currency Research 15 (2011) D 61-67

67

A Report from Vermont (USA): The VBSR Marketplace creates mutual credit at statewide level Amy M. Kirschner Vermont Sustainable Exchange

IJCCR

amy@changethemarket.com

Abstract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

Introduction !""#$$%"&'"#$$%"()&)*+",%$-.&"/0/&$("./"1'2".1" '#$%*&.'1".1"&3$"4&*&$"'5"6$%('1&7"8&"./",*++$-" &3$"694:";*%<$&#+*,$"*1-"./"*1".11'=*&.=$" #*%&1$%/3.#">$&2$$1"*"/&*&$2.-$"($(>$%/3.#" *//',.*&.'1?"6$%('1&"9)/.1$//$/"5'%"4',.*+" :$/#'1/.>.+.&0"@694:A"*1-"*",)%%$1,0"-$/.B1" *1-"(*1*B$($1&"'%B*1.C*&.'1?"6$%('1&" 4)/&*.1*>+$"DE,3*1B$"@64DA7"F3./"#%'G$,&"./"*" /.B1.H.,*1&"/&$#"5'%2*%-".1"&3$",'(()1.&0" ,)%%$1,0"2'%+-"*/".&"(*<$/"#*%&.,.#*&.'1".1"*" ()&)*+",%$-.&"/0/&$("*"($(>$%/3.#">$1$H.&"5'%" >)/.1$//$/"&3*&">$+'1B"&'"*1"*+%$*-0"$E./&.1B" *1-"2$++I$/&*>+./3$-">)/.1$//"*//',.*&.'17"

International Journal of Community Currency Research www.ijccr.net

Vermont Sustainable Exchange 9)%+.1B&'1?"&3$"+*%B$/&"&'21".1"6$%('1&?"3*/"*" +'1B"3./&'%0"2.&3",'(#+$($1&*%0",)%%$1,.$/" B'.1B">*,<".1&'"&3$"JKLM/7";'%$"%$,$1&+0?"5%'(" JKKLINMMO?"&3$"9)%+.1B&'1"P)%%$1,0"Q%'G$,&"" @9PQA",.%,)+*&$-"*"#*#$%?"H.*&I.//)$-"/,%.#" 23.,3"3*-"+.(.&$-"/),,$//7"!&".&R/"#$*<?"&3$%$" 2$%$"*>')&"JSM"#$'#+$"+./&$-"*/"($(>$%/">)&" /),,$//?"*/"-$H.1$-">0"*",'1/./&$1&"H+'2"'5" ,)%%$1,0?"2*/"1$=$%"*,3.$=$-"*1-"&3$"

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

International Journal of Community Currency Research 15 (2011) D 68-72

68

IJCCR The VBSR Marketplace

!"##$%&'()!$**+%!()&%),+*#"%')-%.)-*"$%.) '/+)01)-%.)/-2)3++%)&%'+*4&+5+.)3()6"!-6)-%.) %-'&"%-6)#+.&-7)1/+)*+!+%'6()!"#86+'+.)-) 9-2'+*2):+;*++)-')'/+)0%&4+*2&'()"<),+*#"%') 5&'/)-)'/+2&2)8*"=+!')+>86"*&%;)2$!!+22)<-!'"*2) <"*)!"##$%&'()!$**+%!&+27)

#"*+)#-&%2'*+-#)3$2&%+22)-22"!&-'&"%2C) #-U&%;)&')'/+)6-*;+2')3$2&%+22)-22"!&-'&"%)&%) '/+)2'-'+)5&'/&%)'/+)%+>')<+5)(+-*27)

?"2'@AB?C),1D).&.)-)2&;%&E&!-%')-#"$%')"<) *+2+-*!/)&%'")#$'$-6)!*+.&')2(2'+#27)9-%() 86-'<"*#2)5+*+)+>86"*+.C)3"'/)8*"8*&+'-*()-%.)

"8+%)2"$*!+C)3+<"*+).+!&.&%;)"%)'/+)F6"3-6) D>!/-%;+)G*-.&%;)1(2'+#)HFDG1I)86-'<"*#) .+4+6"8+.)3()G/+)A$2&%+22)D>!/-%;+)HGAD>I)&%) J3+*.++%C)1!"'6-%.7)G/+)FDG1)'*-.&%;)2(2'+#) !"#3&%+2)2$2'-&%-3&6&'())#+'/"."6";()-%.)

8*-!'&!+2)5&'/)'/+)#"2')'+!/%"6";&!-66() -.4-%!+.)!*+.&')!6+-*&%;)<$%!'&"%-6&'()-4-&6-36+) '".-(7)

G/+),A1K)9-*U+'86-!+)5-2).+2&;%+.)'")3+)-) 2'-%.-*.)#+#3+*2/&8)3+%+E&')-4-&6-36+)'")-66) MCVOOW)#+#3+*2)"<),A1K7))G/+)9-*U+'86-!+C) 8"5+*+.)3()FDG1C)&2)-%)"%6&%+)6&2'&%;)-%.) #$'$-6)!*+.&')-!!"$%'&%;)2+*4&!+)-!!+22&36+) '/*"$;/)'/+),A1K)5+32&'+)-%.)'*-.+2)-*+) !"%.$!'+.)5&'/)X,A1K)G*-.+))B*+.&'2Y7)D-!/) !*+.&')&2)+Z$-6)'")QM01)-2)*+Z$&*+.)3()'/+)[K1) <"*)'->@*+8"*'&%;)8$*8"2+27)

â&#x20AC;&#x153;...the idea of starting a community currency should not be mistaken as simply a novel approach or quick fix for a lackluster economy. Persistence in selling the benefits and educating after the business has activated their account is required and a dedicated staff is necessary.â&#x20AC;?

The VBSR Marketplace

G/+)9-*U+'86-!+)5-2)&%&'&-66()2+')$8)5&'/) 2+6+!'+.),A1K)#+#3+*2)'")3+)T"$%.&%;) 9+#3+*27)G/+2+)3$2&%+22+2)-*+)6+-.+*2)&%) ,A1KC)&%'+*+2'+.)&%)&%%"4-'&4+)+!"%"#&!) .+4+6"8#+%')&.+-2C)-%.)-62")8*"4&.+)!"*+) ;"".2)-%.)2+*4&!+2)'")'/+)9-*U+'86-!+7)G/+() *+!+&4+.)-)3+;&%%&%;)!*+.&')6&%+)H&%),A1K)G*-.+) B*+.&'2I)5"*'/)QVCOOO7)G/+2+)!*+.&')6&%+2C)-%.) '/+)!*+.&')5"*'/&%+22)"<)'/+2+)T"$%.&%;) 9+#3+*2C)-*+)'/+)3-!U3"%+)"<)'/+)9-*U+'86-!+) -%.)"%+)"<)'/+)U+()&%%"4-'&"%2)"<)'/&2)8*"=+!'7

D-!/),A1K)#+#3+*)/-2)-)A-2&!)J!!"$%')'") '*-.+)'/+)!*+.&'2)'/+()+-*%)3()2+66&%;);"".2)-%.)

2+*4&!+2)'")'/"2+)&%&'&-6)T"$%.&%;)9+#3+*27) Vermont Business for Social A-2&!)J!!"$%'2).")%"')!"#+)5&'/)-)!*+.&')6&%+) Responsibility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

-22"!&-'&"%)"<)4-6$+2@6+.)3$2&%+22+2)&%)'/+) !"4+*)'/+)+>8+%2+2)-%.)2'-<E&%;)"<)'/+) !"$%'*(7)A$2&%+22+2)*+8*+2+%'&%;)-66)2+!'"*2)"<) "*;-%&L-'&"%7)G*-%2-!'&"%2)<++2)<"*)-66)-!!"$%'2) '/+),+*#"%')+!"%"#()3+6"%;)'"),A1K7) HA-2&!C)?*+#&$#C)-%.)T"$%.+*I)-*+)P^)"%)+-!/) B"66+!'&4+6(C)'/+()+#86"()#"*+)'/-%)NPCOOO) '*-.+C)5/&!/)&2)3*"U+%)."5%)&%'")M^)'*-.+)-%.)

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nternational Journal of Community Currency Research 15 (2011) D 68-72

69

IJCCR The VBSR Marketplace

!"#$%&'()$*+(,&%-*.&/$&.0$&01-.-)%,&%-2($,()+*.)-3-/-%4$ 5*,$%6($7&,'(%+/&8(9$-.8/:0-.;$8,(0-%$8/(&,-.;$)*5%<&,($ -1+/(1(.%&%-*.9$1&-.%(.&.8(9$%&=$,(+*,%-.;$&.0$ 3,*'(,&;($5:.8%-*.)$5*,$!>"?$1(13(,)@$

Innovations A6($!>"?$7&,'(%+/&8($-)$/(&0-.;$%6($<&4$<-%6$&$.:13(,$ *5$-..*2&%-*.)$-.$%6($8*11:.-%4$8:,,(.84$<*,/0@$A6()($ 8&.$3($):11&,-B(0$&)C$D*11:.-%4$E(,8(+%-*.9$D,(0-%$ F,&.%-.;9$"&/()$E,*8())9$&.0$>:-/0-.;$&$?()%*,&%-*.$ #8*.*14@$

Community Perception

Sales Process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

>4$+&,%.(,-.;$<-%6$&$3:)-.())$&))*8-&%-*.9$%6($ 7&,'(%+/&8($6&)$*2(,8*1($%6($+(,8(+%-*.$%6&%$ 8*11:.-%4$8:,,(.8-()$&,($8*:.%(,G8:/%:,(@$!"#$:)()$%6($ %(,1$H%,&0(I$<6-86$-)$.(:%,&/$&.0$&/,(&04$1(&.-.;5:/$%*$ 3:)-.())$*<.(,)@$7&.4$*5$%6(1$&/,(&04$0*$%6-)$*.$&$*.(G Building a Restoration Economy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

Credit Granting

International Journal of Community Currency Research 15 (2011) D 68-72

70

IJCCR The VBSR Marketplace

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

Challenges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

(%2*8;(%4$&$7)-+:#%#.('$2)-,)-&'()%$@-#2#%'*<$ ,&99#;$:<$'"#$E#-1)%'$P#4(9*&'8-#B$&%;$&%$PQR$ @&$*)6$,-).('$*(1('#;$*(&:(*('<$2)1,&%<$&*9)$ -#2#%'*<$,&99#;BD$N8'8-#$2"&%4#9$')$'"#$ 2)-,)-&'#$7)-1$)7$EC>$')$#%98-#$'"&'$('$9'&<9$ -))'#;$(%$2)118%('<$&%;$'-8#$')$('S9$9)2(&*$ 1(99()%$6(**$:#$#?,*)-#;D$

Progress to date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

Figure 1:

Vermont Public Radio employees at their 2010 listener picnic wearing tshirts purchased through the VBSR Marketplace

!Figure 1: Photo Courtesy of Vermont Public International Journal of Community Currency Research 15 (2011) D 68-72

71

IJCCR The VBSR Marketplace

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

1$#$)*('$&0%*3%0!$%`ACH%C*.$0!$,%-*; *($,"0/#$%0!"0%7/))%()"-$%0!$%0$-!&*)*.+6% 0,"/&/&.%"&1%'",8$0/&.%"22$02%/&0*%0!$%!"&12%*3% -**($,"0/#$%'$'?$,24 ^$%)**8%3*,7",1%0*%2!",/&.%*<,%(,*.,$22%"&1% )$22*&2%)$",&$1%0*%*0!$,%/&0$,$20$1% -*''<&/0/$2%7!*%",$%/&0$,$20$1%/&%1$#$)*(/&.% "%2/'/)",%-*&-$(04%P*''<&/0/$2%*3%()"-$%"&1% /&0$,$20%-*<)1%?$%7$));2$,#$1%?+%"(()+/&.%0!/2% $E-!"&.$%'*1$)%0*%"),$"1+%$E/20/&.% '$'?$,2!/(;?"2$1%"22*-/"0/*&24%

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

Looking Forward `ACH%/&%-<,,$&0)+%*,."&/a/&.%-*))"?*,"0/#$% $33*,02%"'*&.%`ACH%<2$,2%2<-!%"2%0!$%FSHT% D",8$0()"-$%"&1%/2%7$))%<&1$,7"+%7/0!%/&/0/")%

International Journal of Community Currency Research 15 (2011) D 68-72

72

Time Banking in Social Housing: A Toolkit for Co-production in Public Services Ruth Naughton-Doe University of Bristol, School for Policy Studies, 8 Priory Road, Bristol, BS8 1TZ

IJCCR

ruth.naughton-doe@bristol.ac.uk

Abstract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

Introduction

International Journal of Community Currency Research www.ijccr.net

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International Journal of Community Currency Research 15 (2011) D 73-76

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IJCCR Time Banking in Social Housing

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Person to agency time banking: ‘The Welsh Model’

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International Journal of Community Currency Research 15 (2011) D 73-76

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IJCCR Time Banking in Social Housing

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working and uptake of healthy activities among tenants.â&#x20AC;?

Successes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

International Journal of Community Currency Research 15 (2011) D 73-76

75

IJCCR Time Banking in Social Housing

!"!#!$#%&'$'()%*!+)%',-.%/%'012'.1/%)%,,'3%13)%' #1'41)5"#%%2'$"&'3$2#!-!3$#%'!"'#.!,'.1,#%)6'

Challenges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

35+)!-',%24!-%,'#1'-2%$#%',1-!$))>'&%,!2$+)%' +%.$4!152'DE$F&!"A'GHIJK6''L12'%*$/3)%A'3%13)%' 1"'3,>-.!$#2!-':$2&,':%2%'8!4%"'2%:$2&,'$"&' 32!4!)%8%,'012'M811&B'+%.$4!1526'7.%'"%:'5,%'10' #!/%'+$"?!"8'-15)&'+%',%%"'#1'2%3)!-$#%'#.!,' $3321$-.'$"&'2$#.%2'#.$"'-.$))%"8!"8'#.%' 814%2"/%"#',>,#%/'$"&'$))1:!"8'!"&!4!&5$)' %*32%,,!1"A'!#'-15)&'+%'5#!)!,%&'#1'-2%$#%',%)0; &!,-!3)!"!"8',5+N%-#,'3%23%#5$#!"8'814%2"/%"#' 4$)5%,',5-.'$,'2%&5-%&'&%3%"&%"->'$"&'.%$)#.'

321/1#!"8'+%.$4!152'D,%%':12?'+>'L15-$5)#A' GHOOP'GHOHP'GHHGK6'7.%'N52>'!,'15#'1"'.1:' 93!-%'13%2$#%,6

Conclusion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

References S14$!2&A'76'DJWWOK'MS%>1"&'%"8$8%/%"#'$"&' 3$2#!-!3$#!1"V'5,%2'$"&'-1//5"!#>'-1;321&5-#!1"'10' 35+)!-',%24!-%,B6'X5+)!-'<&/!"!,#2$#!1"'R%4!%:6 =$."A'U6'DJWWWK'Y1'Z12%'7.21:'<:$>'X%13)%6' U,,%"#!$)'S11?,'T#&V'Q$,.!"8#1"'[=6 =5//!",A'\6'<"&'Z!))%2A'=6'DJWWOK'M=1;321&5-#!1"A' ,1-!$)'-$3!#$)'$"&',%24!-%'%00%-#!4%"%,,B6'T1"&1"V' ]XZ6 L15-$5)#A'Z6'DGHHGK'M^14%2"/%"#$)!#>BA'336'IO_GW`'!"'

S52-.%))A^6A'^12&1"A'=6'$"&'Z!))%2A'X6'D%&,6K'7.%' L15-$5)#'U00%-#V'9#5&!%,'!"'^14%2"/%"#$)!#>A'@%/%)' @%/3,#%$&V'@$24%,#%2'Q.%$#,.%$06 L15-$5)#A'Z6'DGHOOK'[!,-!3)!"%'$"&'X5"!,.V'#.%'S!2#.'

10'#.%'X2!,1"6'T1"&1"V'<))%"'T$"%6 L15-$5)#A'Z6'DGHOHK'7.%'@!,#12>'10'9%*5$)!#>A'41)6'G6' <"'a"#21&5-#!1"6'T1"&1"V'<))%"'T$"% ^2%812>A'T6'DJWWHK'M=.$"8%'#$?%,'#!/%V'%*3)12!"8' ,#25-#52$)'$"&'&%4%)13/%"#$)'!,,5%,'10'#!/%' +$"?!"86B'a"#%2"$#!1"$)'\152"$)'10'=1//5"!#>' =522%"->'R%,%$2-.6'b1)'GcA'33'GH;cJ6 E$F&!"A'<6'DGHIJK'M7.%'#1?%"'%-1"1/>V'$'&%-$&%' )$#%2B6'\152"$)'10'$33)!%&'+%.$4!152'$"$)>,!,A'GdA'33' `cG;``d6 Y%%&.$/A'=6'DJWWOK'MR%$)!,!"8'#.%'31#%"#!$)'10'-1; 321&5-#!1"V'Y%81#!$#!"8'!/3214%/%"#,'!"'X5+)!-' 9%24!-%,B6'91-!$)'X1)!->'$"&'91-!%#>A'OA'JA'JJG;JcG6 Y%%&.$/A'=6'DJWWHK'=1;321&5-#!1"V'$"'%/%28!"8' %4!&%"-%'+$,%'012'$&5)#',1-!$)'-$2%'#2$",012/$#!1"6' 91-!$)'=$2%'a",#!#5#%'012'U*-%))%"-%%6 9%>0$"8A'^6'DJWWJK'M7$-?)!"8'91-!$)'U*-)5,!1"':!#.'

-1//5"!#>'-522%"-!%,V')%$2"!"8'021/'TU79'#1'7!/%' S$"?,6B'a"#%2"$#!1"$)'\152"$)'10'=1//5"!#>'=522%"->' R%,%$2-.A'e6 9%>0$"8A'^6'DJWWc$K'MMQ!#.'$')!##)%'.%)3'021/'/>' 02!%"&,6B'U4$)5$#!"8'#!/%'+$"?,'$,'$'#11)'012' -1//5"!#>',%)0;.%)3AB'T1-$)'%-1"1/>A'GIV'cA'JdO;Je`6 9%>0$"8A'^6'DJWWc+K'M^21:!"8'-1.%,!4%'-1//5"!#!%,' 1"%'0$4152'$#'$'#!/%V',1-!$)'%*-)5,!1"A'$-#!4%' -!#!F%",.!3'$"&'#!/%'+$"?,B6'a"#%2"$#!1"$)'\152"$)'10' f2+$"'$"&'R%8!1"$)'R%,%$2-.A'4'JOA'cA'eHH;OWe6 9%>0$"8A'^6'DJWW`$K'M7!/%'+$"?,V'2%:$2&!"8' -1//5"!#>',%)0;.%)3'!"'#.%'!""%2'-!#>gB'=1//5"!#>' [%4%)13/%"#'\152"$)A'cHA'GA'eJ;OG6 9%>0$"8A'^6'DJWW`+K'MQ12?!"8']5#,!&%'#.%'S1*V' =1//5"!#>'=522%"-!%,A'7!/%'S$"?,'$"&'91-!$)' a"-)5,!1"6B'\152"$)'10'91-!$)'X1)!->A'ccA'GA'`H;OG6 9!//1",A'R6'$"&'S!2-.$))A'\6'DJWWOK'M7%"$"#' 3$2#!-!3$#!1"'$"&'91-!$)'@15,!"8'!"'#.%'fE6B'@15,!"8' 9#5&!%,A'JJA'`A'33'dOc;dHd6

International Journal of Community Currency Research 15 (2011) D 73-76

76

The Colours of Money: Artmoney as Community Currency Mark Banks CRESC (ESRC Centre for Socio-Cultural Change) Department of Sociology, Open University, Walton Hall, Milton Keynes, MK7 6AA m.o.banks@open.ac.uk

IJCCR

Abstract 1.-2*(#3$ /6$ '$ >*22B(/-3$ >B..#(>3$ 8'6#7$ *($ -"#$ @.*7B>-/*($ '(7$ #I>"'(A#$ *+$ *./A/('0$ '.-D$ ?./-/>'0$ *+$ -"#$ >*07$ '(7$ *8J#>-/F#$ ('-B.#$ *+$ >*(F#(-/*('0$ -.'(6'>-/*(6E$ -"#$ T'(/6"$ '.-/6-$ <'.6$ =.'#22#.$ b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c$ a"'-$ '0-#.('-/F#$ 7*#6$ /-$ @.#6#(-$ '(7$ 5"'-$ #>*(*2/>$ +B-B.#6$ K*.$ @'6-6N$ 7*#6$ /-$ '(-/>/@'-#c$ d.#6#(-/(A$ @.#0/2/('.3$ b/(7/(A6$ +.*2$ /(-#.F/#5$ .#6#'.>"$ 5/-"$ '.-_2*(#3$@.*7B>#.6E$ -"/6$'.-/>0#$ *B-0/(#6$ 6*2#$ *+$-"#$ 2*-/F#6$+*.$8#>*2/(A$ /(F*0F#7$/($-"/6$'.-M>B..#(>3$@.*J#>-E$'(7$6*2#$*+$-"#$>*(-.'7/>-/*(6$'(7$ >"'00#(A#6$.'/6#7$/($/-6$@.*7B>-/*($'(7$>/.>B0'-/*(D$

Introduction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

International Journal of Community Currency Research www.ijccr.net

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77

IJCCR The Colours of Money

!"#$%&"'()*%+,-"#.&/%0!1-"2%.3&#,%2#,#3&"% 2(..-22-2/%

+"!,')-7%5&2%&32'%.').-#<-*%&2%&)%#,$3#.#!% ."#!#D(-%'6%(":&)%8-)!"#C#.&!#')%&)*%!1-% .',,'*#C#.&!#')%'6%&"!#2!#.%2$&.-2%;%2#).-%')-% '6%!1-%."#!#.#2,2%3-<-33-*%:7%4"&-,,-"%5&2%!1&!% A Critique of Conventional Money? &"!#2!2%5-"-%)'!%')37%,&*-%-.')',#.&337% ,&"8#)&3%:7%!1-%2!&!-%&)*%!1-%.',,-".#&3%&"!% 4"&-,,-"%2&5%!1-%$"'*(.!#')%'6%&"!,')-7%&2%&% 5'"3*>%:(!%!1&!%!1-%$'22#:#3#!7%'6%&"!#2!2% $"&.!#.&3%,-&)2%'6%2!#,(3&!#)8%!"&*-%&,')82!% '..($7#)8%2!(*#'2%&)*%"-)!-*%2$&.-2%I&!%3-&2!% 2!"(883#)8%&"!#2!2%51'%.'(3*)9!%'!1-"5#2-%&66'"*% #)%K'$-)1&8-)J%5&2%:-#)8%*#,#)#21-*%:7%!1-% !'%$&7%!1-#"%"-)!%'"%:(7%&"!%,&!-"#&32%;% .',,-".#&3%"-)-5&3%'6%(":&)%.-)!"-2%;% &"!,')-7%5&2%!1(2%.').-#<-*%&2%&%5&7%'(!%'6% &"!,')-7%.'(3*%!1(2%$"'<#*-%$''"%&"!#2!2%5#!1% $'<-"!7%6'"%!1-%&"!#2!#.%()*-".3&22/%=(!%&32'>% 2$-)*#)8%$'5-">%&%6'.(2%'6%.'33-.!#<-% ."#!#.&3%'6%!1-%?.'3*9%&)*%?':@-.!#<-9%)&!("-%'6% #*-)!#C#.&!#')%&)*%&%,-&)2%'6%-66-.!#)8%&% .')<-)!#')&3%!"&)2&.!#')2>%4"&-,,-"%*-<#2-*% )&2.-)!%6'",%'6%2'.#&3%,':#3#!7/%+"!,')-7%5&2% &"!,')-7%&2%&%,-&)2%!'%&%,'"-%1(,&)#2-*%&)*% $"-2-)!-*%&2%$&"!%'6%!1-%*#2.'("2-%&)*%$"&.!#.-% ?-A$"-22#<-9%!7$-%'6%,')-!&"7%-A.1&)8-/%B#).-% '6%)')H.&$#!&3#2,>%$"','!#)8%#!2-36%&2%&%$'2#!#<-% 1-%&"8(-*%!1&!%,')-7%."-&!-*%&)%&"!#C#.#&3%&)*% &)*%*#66-"-)!#&!-*%6'",%'6%-.')',#L#)8%!1&!% #,$-"2')&3%?:&""#-"9%:-!5--)%$-'$3->%)'!%')37% .1&33-)8-*%!1-%*',#)&)!%<&"#&)!/%+"8(&:37>%#)%&% 5&2%-&.1%&"!,')-7%!'%:-%*-2#8)-*%&2%&%()#D(-% $'2!H"-.-22#')%.')!-A!%!1-%."#!#.&3%6().!#')%'6% 5'"E%'6%&"!>%#!%5&2%#)!-)*-*%!'%:"#)8%$-'$3-% &"!,')-7%1&2%:--)%:"'(81!%#)!'%21&"$-"%6'.(2% !'8-!1-"%#)%&66-.!#<->%"&!1-"%!1&)%#,$-"2')&3>% ;%#!2%-,$1&2#2%')%D(-2!#')#)8%!1-%$'5-"%!1&!% 6'",2%'6%!"&*-/% ,')-7%1&2%'<-"%'("%3#<-2>%!1-%1-8-,')7%'6% C#)&).#&3%#)2!#!(!#')2>%&)*%#!2%."#!#D(-%'6%!1-% F-%.&)%2-->%!1-"-6'"->%!1&!%&"!,')-7%1&*%&% *'(:3-%6().!#')%;%(!#3#!&"#&)%:(!%&32'%&66-.!#<-G ,')'$'37%$'5-"2%'6%!1-%2!&!-%!'%"-8(3&!-% ,')-7>%&$$-&"2%().&))#37%$"-2.#-)!/%=(!%1'5% .',,()#.&!#<-/%%=7%:-#)8%-).'("&8-*%'"% *'-2%2(.1%&%(!'$#&%!&E-%21&$-%#)%$"&.!#.-M% .',$-33-*%!'%(2-%&"!,')-7%#)%-A.1&)8->%:'!1% &"!#2!2%&)*%)')H&"!#2!2%5-"-%:"'(81!%#)!'%&% N"',%')8'#)8%"-2-&".1%5#!1%&"!,')-7%&"!#2!2>%O% *#2!#).!#<-%&)*%$"'<'.&!#<-%-.')',#.%&)*% 1&<-%2'(81!%!'%()*-"2!&)*%!1-%*#66-"-)!%(2-2% .',,()#.&!#<-%2$&.-%H%')-%!1&!%5&2% &)*%,-&)#)82%'6%&"!,')-7%6'"%#!2%<&"#'(2% 2#,(3!&)-'(237%:'!1%?$"#,#!#<-9%I"-37#)8%')%!1-% $"'*(.-"2/%%F1'%&"-%!1-2-%$-'$3-%&)*%517%&"-% -A.1&)8-%'6%*#2!#).!#<-%"&!1-"%!1&)% !1-7%#)<'3<-*%#)%&"!,')-7%$"'*(.!#')M%F1&!% 2!&)*&"*#2-*%':@-.!2J%&)*%?,'*-")9%I'66-"#)8%&% "-5&"*2%*'%!1-7%':!&#)%6"',%#!M%P'5%&"-%!1-7% ."#!#D(-%'6%C#)&).#&3%.')<-)!#')%&)*%!1-%2'.#&3% (2#)8%&"!,')-7%#)%$"&.!#.&3%&)*%-<-"7*&7% 2!&!(2%D('J/%B(.1%!1-)%5&2%!1-%#)#!#&3%!1-'"7% !-",2M%+)*>%,'"-%:"'&*37>%51&!%*'%!1-% &)*%,'!#<&!#')/% *#66-"-)!%(2-2%&)*%(2-"2%'6%&"!,')-7%!-33%(2%

Figure 1:

Lars Kraemmer: ‘Celestine’ (Front and back images)

International Journal of Community Currency Research 15 (2011) D 77-81

78

IJCCR The Colours of Money

Figure 2:

Birthe Lindhart: Art Money No 177 (front and back images)

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The Meanings of Artmoney?

International Journal of Community Currency Research 15 (2011) D 77-81

79

IJCCR The Colours of Money

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â&#x20AC;&#x153;the meanings and uses of artmoney are many and varied, and often contradictory or run counter to the intentions of its founderâ&#x20AC;? )#*(2)#A"*C(-#()0()3*"#0)*%&"(-#($-22/0%*+( $/##"0$+C(%0(*8%.(."0."(%0.*#/2"0*)3%*+()0'( =$-3'(*#)0.)$*%-0.>("0&%.)1"'(;+(K#)"22"#( 2%18*(0-*(0"$"..)#%3+(;"(0"1)*"'(;+()#*2-0"+(?( ;/*("08)0$"'(;+(*8"24( L/$8(')*)(!#-&%'".(-03+()(;#%",(.0)!.8-*7(;/*( ./,6%$"(*-(.)+(*8"(2")0%01.()0'(/.".(-,()#*?

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Discussion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

International Journal of Community Currency Research 15 (2011) D 77-81

80

IJCCR The Colours of Money

!"#$%&'(#)'*+%&*',-#+.#/#012*#0*#'*.,0(*/,-+/#'$&*+%&*+* 3$+%'*,!*-,%%$-0#%4*-5/05"$'2*#0*#'*.,0(*-,%-$)05+/6 #&$+/#'0#-*+%&*3+0$"#+/6)"+-0#-+/2*#0*,!!$"'*+*-(+//$%4$*0,* -,%7$%0#,%+/*3,%$1*$-,%,31*+%&*+*3$+%'*,!* "$)",&5-#%4*#0*8*#0*9,5/&*0($"$!,"$*.$*+*3#'0+:$*0,* #3+4#%$*0(+0*0($"$*#'*+*'0+./$*+%&*5%#;#$&*'$%'$*,!*9(+0* +"03,%$1*3$+%'*,"*"$)"$'$%0'<*

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P#33$/>*X<*FQNNRG*E($*J(#/,',)(1*,!*K,%$1*F,"#4#%+//1* #%&#7#&5+/'*0,*.51*+%&*'$//*4,,&'*F#%-/5&#%4*0($#"*,9%* )5./#'($&*LMNOG>*Z"&*\&#0#,%>*],50/$&4$>*Y,%&,%<* /+.,5"*),9$"G*9#0(*35-(*/$''*-,%'0"+#%0*0(+%*(#0($"0,<* E($*@5+/#0#$'*,!*3,%$1*9$"$*0($"$!,"$*&,5./$6$&4$&<*

International Journal of Community Currency Research 15 (2011) D 77-81

81

Complementary Currency Open Source Software in 2010 Matthew Slater Developer of mutual_credit Drupal module and Co-founder of Community Forge matlats@gmail.com

IJCCR

http://communityforge.net

Abstract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

Introduction !"#$%&'()&*%+&#',-.%/)0'&$%*"'%,#'-1%)2%3)34 /)55'&/#6-%57*76-%/&'1#*%$)2*86&'9%1#$/7$$#3:% *"'%#$$7'$%631%/"6--'3:'$%*"'%(&);'/*$% /)--'/*#0'-.%26/'%#3%5''*#3:%*"'%3''1$%)2%*"'% 5)0'5'3*<%!"'%#3*'3*#)3%#$%3)*%*)%56='%1#&'/*% /)5(6&#$)3$%+7*%*)%*6='%6%"#:"'&%0#'89%8#*"% /)3/&'*'%'>65(-'$<

International Journal of Community Currency Research

!"'&'%#$%6%/-'6&%/7-*7&6-%1#0#1'%+'*8''3% /)55'&/#6-%+6&*'&%$)2*86&'%8"#/"%"'-($% +7$#3'$$'$%'>/"63:'%$(6&'%/6(6/#*.%8#*"#3%*"'% -689%631%2&''%)('3%$)7&/'%(&);'/*$%8"#/"%"'-(% 3'#:"+)7&$%*)%'>/"63:'%731'&%*"'%&616&%)2%*"'% *6>%563<%!"'&'%#$%6-5)$*%3)%/&)$$42'&*#-#$6*#)3% +'*8''3%3)3(&),#*9%#1'6-#$*#/9%/)5573#*.% (&);'/*$9%631%*"'%+7$#3'$$%+6&*'&<%!"'%6#5$%)2% +)*"%/7-*7&'$%6&'%0'&.%1#22'&'3*9%*")7:"%*"'#&% 5'*")1$%6&'%$#5#-6&<%?*%$''5$%*)%5'%*"6*%*"'% @7$#3'$$4*)4@7$#3'$$%%A@B@C%#317$*&.%#$%57/"% 5)&'%6%(6&*%)2%*"'%/)55'&/#6-%8)&-1%*"63%(6&*% )2%6%5)0'5'3*%2)&%/"63:'<%D)%/)55'&/#6-% $)2*86&'%#$%/)3$#1'&'1%"'&'%+'/67$'%#*%#$%3)*% 7$'1%631%3)*%606#-6+-'%2)&%*"'%(7&()$'%)2% (7&()$'%)2%$)/#6-%/"63:'<%!"#$%56.%/"63:'%6$% *"'%&'/'$$#)3%1''('3$<

E--%(&);'/*$%731'&%/)3$#1'&6*#)3%"60'%57-*#(-'% #3$*63/'$%#3%7$'%631%6&'%)('3%$)7&/'< !"'%*'&5%F6$$)/#6*#)3F%#$%7$'1%#3%*"#$%&'()&*%*)% 5'63%6%1#$*#3/*%57*76-%/&'1#*%'>/"63:'%/#&/-'9% 7$#3:%#*$%)83%/7&&'3/.9%631%8")$'%*&63$6/*#)3$% 611%7(%*)%G'&)<

The Playing Field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

www.ijccr.net International Journal of Community Currency Research 15 (2011) D 82-87

82

IJCCR Open Source Currency Software in 2010

Table 1: Summary of Open Source currency platforms

Platform

Developers

Instances

Easy set-up?

JAVA

4

Many

No

www.cyclos.org

MS asp

1

200 in one

Yes

www.ces.org.za

CClite

PERL

1

few

No

www.hughbarnard.org

4th Corner Exchange

Php

1

10 - 20

Yes

www.fourthcornerexchange.com

Drupal

1

30

No/Yes

Cyclos CES

Drupal/ Community Forge

URL

www.drupal.org/project/ mutual_credit www.communityforge.net

Opensourcecurrency

Inoshi

1

200 in one

No

www.opensourcecurrency.org

Cyclos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

Community Exchange System (CES) J/(&(27',/%0'.'7/.&&G/%%)&'0%B+0+2)'(2'!.1+')%-2;'!K3'(&' .',/++'-+<'&+/B(#+')*.)'*%&)&'%B+/'LMM'HKE#*.27+&H;'+.#*' -()*'()&'%-2'#@//+2#"'.25'&+1./.)+'5.).<.&+>'?)&'7/%-(27' 1%1@$./()"'0.C+&')*(&'2+)-%/C'.'B+/"'7%%5'#*%(#+>' N+&1()+'&)($$'<+(27'.'%2+G0.2'*./5$"',@25+5'&%,)-./+' 1/%A+#);'()'(&'*%&)(27'.'7$%<.$'2+)-%/C'%,'0@)@.$'#/+5()' &"&)+0&;'-*(#*'./+')/.5(27'<+)-++2'+.#*'%)*+/'80%/+'%2' H(2)+/)/.5(27H'$.)+/:>

Fourth Corner Exchange R%@/)*'!%/2+/'KE#*.27+'(&'.',.0($"'%,'OK43'$(C+'7/%@1&'(2' )*+'=%/)*'K.&)'S3J>'4*+(/'1*1TQ"3UO'.11$(#.)(%2'-.&' -/())+2',%/'0@$)(1$+'(01$+0+2).)(%2&'%,')*.)'&1+#(D(#' 0%5+$>'J$)*%@7*'5+B+$%10+2)'*.&'0%&)$"'&)%11+5;' OK43$(2C'SV'*.&'0.C+')*+(/'%-2'.5.1).)(%2&')%')*+' &%,)-./+'.25'(01$+0+2)+5'-()*'&+B+/.$'OK43' .&&%#(.)(%2&>

Complementary Currencies module for Drupal J'N/@1.$'0%5@$+',%/'-+<'5+B+$%1+/&')%'(01$+0+2)'.' #%01$+0+2)./"'#@//+2#"'-()*(2'.'&%#(.$'2+)-%/C(27' ,/.0+-%/C>'?)'1/%B(5+&')*+'+E1+#)+5'0@)@.$'#/+5()' .##%@2)(27',+.)@/+&;'B+/"'D$+E(<$+',%/0&',%/'+2)+/(27' +E#*.27+&;'.25'.(0&')%'0++)')*+'2++5&'%,'.'-(5+'/.27+'%,' (22%B.)(B+'1/%A+#)&>

Community Forge !%00@2()"'R%/7+;'(&'.'&0.$$'=I6'<.&+5'(2'I+2+B.;' %,,+/(27',/++'(01$+0+2).)(%2'%,'N/@1.$'.(0+5'1/(0./($"'.)'

OK43'.&&%#(.)(%2&>'?)'(&'7.(2(27'1%1@$./()"'1./)(#@$./$"'(2' R/+2#*'&1+.C(27'K@/%1+>

OSCurrency CCLite

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nternational Journal of Community Currency Research 15 (2011) D 82-87

83

IJCCR Open Source Currency Software in 2010

!"#$%&$'()*%$+%,-.(/$.%0'-1 2 !"#$%&'()*%+,%&)/3)%#/.3-%/.('$453/.6% /.(-'('04/.6%0.4%)$#(-4%#/(-#%)0#%7-3$,-%$.-% 8-'*%"0'6-%,5(50"%3'-4/(%-93)0.6-: 2 -"../$;%0%&0*%$+%033$5.(/.6%&/()$5(%,$.-*% 7*%</.4/.6%('5#(=>0()&0*#%()'$56)%#$3/0"% .-(&$'?#

Community organisations often find software a traumatic subject. The more courageous implementers and designers are trawling the net trying to work out what each software package does, how they compare, and which is best for them, and whether they can afford it.

2 0$1'2344$(25;%0.%0((-,>(%($%,0?-%0.%0""% -,7'03/.6%#(0.40'4%,$4-"%$+%@35''-.3/-#@% 0.4%($%,0?-%#$+(&0'-%&)/3)%&/""%#5>>$'(%/(;% #$%()0(%3$,,5./(/-#%30.%4-#/6.%0.4%5#-%()-/'% $&.%35''-.3/-#;%75(%0""%&/""%7-%#$,-)$&% 3$,>0(/7"-: 0((-,>(#%0(%70"0.3-4%3$,>0'/#$.#:% N,>"-,-.(-'#%</.4%()-,#-"8-#%#/+(/.6%()'$56)% "/#(#%/.3"54/.6%4-04%>'$B-3(#;%'-04*%'$""-4% The Issues #-'8/3-#;%0.4%)0'4=3$'-%0>>"/30(/$.#%0.4%()-'-% /#%0",$#(%.$%/.+$',0(/$.%080/"07"-%+'$,%$()-'% 1. Making software options accessible /,>"-,-.(-'#:%N.%>'03(/3-%()-'-%0'-%'-04*% to implementers '$""-4%#$"5(/$.#;%.0,-"*%LIF%0.4%M/,-70.?#;% 75(%0.*%6'$5>%&0.(-4%($%7-%'-,$(-"*% A$#(%.-&%>'$B-3(#%0(%()-%,$,-.(%0'-%+$35#-4% /..$80(/8-;%,5#(%3)$$#-%7-(&--.%L*3"$#;%&)/3)% $.%()-%/##50.3-%$+%>0>-'%.$(-#;%-/()-'% '->'-#-.(/.6%)$5'#%$'%.0(/$.0"%35''-.3*:%C0>-'% 30.%4$%0.*()/.6%/.%()-%033$5.(/.6%'-0",;%75(%/#% 5.#5>>$'(-4;%8-'*%#>-3/0"/#-4%0.4%4/+</35"(;%0.4% /#%0%(0.6/7"-%0.4%/,,-4/0(-%+$',%$+%,$.-*% O'5>0"%&)/3)%/#%-0#/-'%0.4%$++-'#%0""%()-% &)/3)%()-%70.?#%0'-%#--?/.6%($%>)0#-%$5(;% 3$,,5./(*%+5.3(/$.0"/(*;%75(%/#%5.#5>>$'(-4% 5#-+5"%+$'%#,0"";%40*%($%40*%-93)0.6-#;%75(%/(#% 0.4%5.4-'=4-8-"$>-4: 4'0&703?#%0'-%5.4-'=0>>'-3/0(-41 I8-'*%LL%3$,,5./(*%4$&.%($%()-%#/,>"-#(% 2 D/6)%3$#(%$+%>'/.(/.6%#-35'-%.$(-# PIMF%)0#%/(#%$&.%#-(%$+%'5"-#%0.4Q$'%/.6'0/.-4% 2 E-'*%)0'4%($%,$./($'%()-%8-"$3/(* &0*#%$+%4$/.6%()/.6#;%&)/3)%>'$8/4-%70''/-'#%($% ()-%04$>(/$.%$+%#$+(&0'-:%H*%3$.('0#(%,$#(%$+% 2 F5/(07"-%$."*%+$'%+03-=($=+03-%-93)0.6()-%#$+(&0'-%080/"07"-%&0#%4-#/6.-4%7*%0.4%+$'% G)/"-%>0>-'%)0#%0%'$"-%($%>"0*;%/(%&/""%.-8-'% 3$,,5./(/-#%&)$%)04%()-%'-#$5'3-#:%F$%()-'-%/#% 3$,>-(-%&/()%()-%)/6)%(-3)%#-'8/3-#%0.4% 0%>'$7"-,%$+%0%"03?%$+%6-.-'0"%>5'>$#-% 3$.8-./-.3-%()0(%,$4-'.%70.?/.6%$++-'#:%!% #$+(&0'-: 4/6/(0"%703?%-.4%$++-'#%,0.*%7-.-</(#1 G-%.--4%($%7-%75/"4/.6%5>%3$,,5./(/-#%$+% 2 A$'-%&0*#%($%3$.453(%('0.#03(/$.#;%8/0%&-7% 5#-'#;%&)$%#5>>$'(%-03)%$()-'%&/()%4-#/6.% +$',;%FAF;%>$/.(%$+%#0"-%#&/>-%30'4#;%0.4% 3)$/3-#%0.4%#$+(&0'-%/,>"-,-.(0(/$.#;%0#%&-""% -8-.%05($,0(-4%('0.#03(/$.#: 0#%)0.4"/.6%-.R5/'/-#%+'$,%#('0.6-'#:%M)-% M05#3)'/.6-.%0'-%#('--(#%0)-04%/.%()/#%'-#>-3(% 2 H-((-'%($$"#%($%,$./($'%-3$.$,* &/()%0%3$,,5./(*%$+%8$"5.(--'%4-8-"$>-'#%&)$% 2 I0#/-'%($%(&-0?%()-%'5"-# 3$""07$'0(-%($%,0.06-%,$#(%$+%()-%.-(&$'?% 03'$##%S-',0.*%0.4%!5#('/0:%%T-6'-((07"*%()-'-% 2 I0#/-'%($%-9(-.4%3'-4/(%J*$5%30.@(%)$"4%0% /#%.$%)0'4%/.+$',0(/$.%07$5(%()/#%/.%I.6"/#): .-60(/8-%70"0.3-%$+%>0>-'K 2 L)-0>-'%($%#30"D$&-8-'%3$,,5./(*%$'60./#0(/$.#%$+(-.%</.4% #$+(&0'-%0%('05,0(/3%#57B-3(:%M)-%,$'-% 3$5'06-$5#%/,>"-,-.(-'#%0.4%4-#/6.-'#%0'-% ('0&"/.6%()-%.-(%('*/.6%($%&$'?%$5(%&)0(%-03)% #$+(&0'-%>03?06-%4$-#;%)$&%()-*%3$,>0'-;%0.4% &)/3)%/#%7-#(%+$'%()-,;%0.4%&)-()-'%()-*%30.% 0++$'4%/(:%M)-%$."*%/.+$',0(/$.%080/"07"-%($% ()-,%/#%/.%()-%+$',%$+%0%+-&%>$$'"*%,0/.(0/.-4% "/#(#%$.%()-%&-7%&/()%.$%'-8/-&%0.4%.$%

2. Encouraging good governance N(@#%&-""%?.$&.%()0(%3$,>"-,-.(0'*%35''-.3*% >'$B-3(#%)08-%0%)/6)%+0/"5'-%'0(-;%0.4%&/4-"*% 03?.$&"-46-4%()0(%()/#%/#%"0'6-"*%45-%($%>$$'% 6$8-'.0.3-%#('53(5'-#%7-/.6%5.07"-%($%#5#(0/.% 0.%/./(/0"%<"5''*%$+%/.(-'-#(:%M)-'-%0'-%80'/$5#% &0*#%/.%&)/3)%#$+(&0'-%3$5"4%#5>>$'(% 6$8-'./.6%03(/8/(/-#1

International Journal of Community Currency Research 15 (2011) D 82-87

84

IJCCR Open Source Currency Software in 2010

! "#$%&'()'%*+,-./#$/0+.%#+1-%*2&$/3+#$4&-/0 ! "#$%&'()'%*+5$-51$+6,-+,.7$+4$$%+'%.8&'7$+(-/+ .+6,'1$

3. Intertrading

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igure 1: System intertrading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igure 2: Inter-system imbalance

O'*:/$+Q+0,-60+,-6+'%&$/&/.#'%*+:0:.11)+6-/?0+ 4$&6$$%+3:&:.1+8/$#'&+81$./'%*+8'/81$0A+G,'0+ 3$&,-#+'0+6-/?0+6$11+4$8.:0$+4-&,+5./&'$0+:0$+ &,$'/+1-8.1+8://$%8)D+.%#+3.'%+.88-:%&0D+.%#+ I$/-+4.1.%8$+'0+/$&.'%$#+'%+5/'%8'51$A O'*:/$+R+0,-60+6,.&+,.55$%0+6,$%+&,$+ '%&$/&/.#'%*+.88-:%&0+*$&+&--+1./*$+'%+$'&,$/+ #'/$8&'-%+.%#+8.:0$+1'L:'#'&)+5/-41$30A+G,$+ 0-1:&'-%+'0+(-/+&,$+.00-8'.&'-%+&-+8-%0&/.'%+&,$+ '%&$/&/.#'%*+.88-:%&D+F:0&+.0+.11+&,$+-&,$/+ .88-:%&0+,.7$+3'%'3:3+.%#+3.C'3:3+1'3'&0A+

International Journal of Community Currency Research 15 (2011) D 82-87

85

IJCCR Open Source Currency Software in 2010

!"#$!%&'(")*+,$+#-./)0$12#)3%+45$"%'$6##+$ ./)0*+,$/+$-"*'$.*-"$74(8/'9$%+:$3%:#$%$8/-$/;$ <)/,)#''$*+$-"*'$%)#%=$!"#4$%)#$%&-/3%-*+,$-"#$ *+-#)-)%:*+,$6#-.##+$74(8/'$*+'-%+(#'$/+$ :*;;#)#+-$'#)>#)'9$."*("$*'$"%):#)$6#(%&'#$-"#)#$ +##:'$-/$6#$6#--#)$%&-"#+-*(%-*/+$%+:$%$)#,*'-)4$ /;$<%)-*(*<%-*+,$'("#3#'= !"*'$3&-&%8$()#:*-$#(/+/34$"%'$6%8%+(#?/;?

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

4. Modularisation

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International Journal of Community Currency Research 15 (2011) D 82-87

86

IJCCR Open Source Currency Software in 2010

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Closing Thoughts

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nternational Journal of Community Currency Research 15 (2011) D 82-87

87