Sardex alternative currency to bitcoin
The Bristol Pound and the Brixton Pound were touted as the saviors of the British High Street—but their progress as local currencies was cut short, in part by fears over the use of physical cash during the coronavirus epidemic. Now, inspired by cryptocurrencies, the two independent projects are drawing up plans to go digital in the form of tokens and, eventually, as stablecoins. Their aims remain decidedly altruistic: they intend to revitalize battle-weary communities, reward positive behavior, and encourage community sustainability initiatives. Yet the history of local currencies is littered with broken dreams—as well as critics who question both the utility of blockchain and a localized approach.
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Content:
- The Phenomenon of Complementary Currencies
- BETWEEN MONEY AND SOVEREIGNTY: IS A NEW MONETARY THINKING NEEDED TO INSTITUTE THE COMMON
- What do E-wallets have to do with environmental protection?
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- The rise of alternative currencies (Moneyweek.com)
- These 5 Rebel Movements Want To Change How Money Works
- Alternative currency
- Welsh digital currency system promotes trade between small and medium businesses
- The Risks of Monetary Democracy
The Phenomenon of Complementary Currencies
Welsh businesses will benefit from a new complementary currency, the first in Wales, that aims to promote trade between small and medium enterprises. Celyn is an electronic credit system where users can benefit from a zero-rate facility to do business. The aim of the project is to make exchanges thrive in the network. Celyn was thought long before the pandemic broke out, but given the hardships many companies are facing from COVID, the goal is that it could potentially save many from collapse.
Celyn drew inspiration from Sardex mutual credit system, an experiment started in in Sardinia, which managed to save thousands of small and medium-sized businesses from bankruptcy and which its Welsh counterpart is trying to replicate. Both are digital currency networks, made up of companies and businesses, using a currency equal to the pound or the euro. Once inside the network, the company can sell its goods and services and purchase those made available by others.
No cash or bitcoin is used, it is not a virtual currency or a bartering system and is only used to buy or sell goods or services. The ultimate goal is the increase in commercial exchanges between companies since accumulation is not possible. Celyn launched its website , where FAQs can be found to clarify any questions, on December 11th on a virtual zoom event. Global city. New art works finally display in a local art centre after the lockdown. Electric Cars: are they the way forward to green transport in Wales?
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BETWEEN MONEY AND SOVEREIGNTY: IS A NEW MONETARY THINKING NEEDED TO INSTITUTE THE COMMON
The past few years have seen a glut of news about cryptocurrencies and distributed ledgers. But as with any hype cycle, the sparkle eventually tarnished. Faithful crypto fans hodl on, but the rest of us are starting to tire. In a mere six months, the world we knew has dissolved and an unfamiliar one has taken its place. The COVID pandemic has shaken the socioeconomic system, exposing its fragility and dysfunction in the forms of economic recession, systemic injustice, ecological degradation, cascading institutional failures, and political chaos.
What do E-wallets have to do with environmental protection?
The results of this call for research papers will be presented at Prato during the 54th Study Week May 14thth, According to Adam Smith, the division of labor intensified the scale of barter transactions and ultimately led to the growth of money , Book 1, 81 ff. The transition from barter to money even commodity money thus signaled the progression from a natural economic framework to a monetary economy. The whole Study Week will be devoted to the study of the importance and exact place of such alternative trade practices in the economies of the 13th to 18th centuries. Although the monetary theory has focused mainly on credit, the money of account and real money in the form of coins or paper money, a striking feature of the circulation of money is that coins or paper money have not prevented payments in kind, partial or not. Barter has long been considered as a practice adapted to the absence of cash. In this respect, the world of peasants is often seen as the location par excellence for this type of alternative exchange. It would be a mistake, however, to think the practice was limited to rural areas. If we look closely at payment details in many contracts, for example, we can see that bartering or payments in kind were also present in the city. Linking the use of barter-only to the lack of money also overlooks the possibility that bartering may have been a choice since there is no indication that it is always done by default Humphrey and Hugh-Jones,
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We are constantly monitoring the upheaval in alternative money and currency systems, in our aim to find tools and mechanisms that can increase the power of communities and localities. We would recommend reading them all. This comes from a philosophical tradition that says systems should be governed by the boundaries of God, physics or math, rather than laws set by politicians. With gold, for example, these natural boundaries would be geology: how much gold can be found and extracted.
The rise of alternative currencies (Moneyweek.com)
The phenomenon of alternative currencies is spreading, and not only with the current worldwide success of the bitcoin, which is growing more popular in the Netherlands. Around the world, alternative local currencies are becoming more common, with the Brixton pound in use in London, the torekes in Ghent, the sardex in Sardinia, the Wir in Switzerland and Ithaca Hours in New York. In the Netherlands, Amsterdam has the makkie , which started up in , joining the older noppes currency from the nineties. In the last three years, plans have been made to get the gulden in Groningen , gelre in Gelder, achthoeker in Achterhoeke, zonnemunt in Leiden , bataaf in Nijmegen and schokker in the Noordoostpolder off the ground, with varying amounts of success. Now people in Rotterdam have developed two different local currencies to the euro.
These 5 Rebel Movements Want To Change How Money Works
Peter North, Money reform and the Eurozone crisis: panacea, utopia or grassroots alternative? The economic crisis that broke out in — and the ongoing crisis in the Eurozone has given a new urgency to discussions about alternatives to capitalism, and a new salience to proposals for monetary reform and for grassroots economic alternatives. The paper argues that the dominance of neoliberal ideology at a European Union level means that proposals for monetary reform at the international and national level are unlikely to be taken seriously by elites and consequently seem utopian in Marxian terms. The potential of grassroots alternatives is also too often overstated. While alternative currency networks developed as part of the Greek crisis are not particularly well developed, alternative currency networks could work as sites of innovation, normalising the idea that there are progressive alternatives to Eurozone breakup. Well, this time it was the banks. Weber , p.
Alternative currency
His wide research interests include: microfinance, international cooperation, poverty reduction policies, monetary innovations, rural development and environmental issues. He authored the book in Italian The government of poverty at the time of micro finance Verona: ombre corte , and published numerous articles in Italian and international journals. His research projects include institutional economics, cognitive capitalism, monetary theory of production, financialisation and complementary currencies.
Welsh digital currency system promotes trade between small and medium businesses
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The Risks of Monetary Democracy
A virtual currency system used on the Italian island Sardinia, Sardex, appears to have been gaining traction in helping businesses overcome the local credit crisis. Sardinia is an autonomous Italian territory in the Mediterranean with a population of roughly 1. The island carries a distinct cultural identity from the rest of Italy, home to several other languages. The island, in a sense, also operates its economy separately from mainland Italy. It had at one point even been envisioned for a tax haven, much like its tropical counterparts.
Now as the world is immersed in this global pandemic and climate era, we are aware of the negative environmental, societal, and economic consequences of our current business as usual economic model. Nowadays, many aspects related to money are going through a profound remodelling. This evolution brings critical risks and challenges to the people and the planet we inhabit.
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