Experimentation is very important, but the word suggests something novel going on.
Community currencies like this have been tried hundreds if not thousands of times.
The result is almost always the same. A few people grok something important about the nature and meaning of money. A flurry of interest dies out quickly, regardless of the energy or skills of the organisers. Not much new exchange actually happens as a result.
If you want to experiment and potentially add to human knowledge, you have to build on the work that has already been done. There is academic work on this dating back decades and a vibrant community of practice which would love to support you.
It's great that you are exploring community currencies, a worldwide movement for more than 30 years. However, I would like to point out that community currencies use mutual credit as the method of issuance, and not cooperative credit which is what you do when you have people pool funds and take turns drawing from the pool. Instead we pool our commitments of what we offer the community and exchange IOUs or promises. Committment pooling, such as that done by the Sarafu Network in Kenya, is another model for applying community currency principles to blockchain technologies.
Requiring people to buy tokens in order to be able to join a community is anathema to the principles and spirit of community currencies. Instead, you can call what you do a local currency and be something like the Bristol Pound.
Experimentation is very important, but the word suggests something novel going on.
Community currencies like this have been tried hundreds if not thousands of times.
The result is almost always the same. A few people grok something important about the nature and meaning of money. A flurry of interest dies out quickly, regardless of the energy or skills of the organisers. Not much new exchange actually happens as a result.
If you want to experiment and potentially add to human knowledge, you have to build on the work that has already been done. There is academic work on this dating back decades and a vibrant community of practice which would love to support you.
Hello! New here on this platform... I'm curious, why do they use the ∈ symbol? It looks like the Worldcoin icon... I'm just curious!
It's great that you are exploring community currencies, a worldwide movement for more than 30 years. However, I would like to point out that community currencies use mutual credit as the method of issuance, and not cooperative credit which is what you do when you have people pool funds and take turns drawing from the pool. Instead we pool our commitments of what we offer the community and exchange IOUs or promises. Committment pooling, such as that done by the Sarafu Network in Kenya, is another model for applying community currency principles to blockchain technologies.
Requiring people to buy tokens in order to be able to join a community is anathema to the principles and spirit of community currencies. Instead, you can call what you do a local currency and be something like the Bristol Pound.