Within the CCIA project, Qoin was responsible for developing the next generation of community currency software: QoinWare. The focus of this project was on creating an optimal user experience, using both web and smartphone interfaces. QoinWare is currently used by the CCIA pilot currencies TradeQoin, SoNantes and Brixton Pound. Download the QoinWare packages as used for TradeQoin... Read more
As the conventional monetary system foundered following the financial crisis in 2008, interest in new types of money and how they can be used positively within our society has surged. Projects like Bitcoin have hit the headlines. Less noted, however, are the communities around the world which have started to experiment with their own currencies... Read more
Legal backed tender currency refers to a complementary currency which is guaranteed to be exchangeable for legal tender, whether on a one-to-one value basis or with the imposition of a malus. Making a complementary currency exchangeable for legal tender in this manner is commonly done in order to increase public trust and belief in the... Read more
The TEM (Τοπική Εναλλακτική Μονάδα – “Alternative Monetary Unit”) is a LETS-based currency in the Greek city of Volos. Emerging in response to the country’s economic crisis, the TEM gained over 800 members in just the first few months of operation. The credits are pegged in value to the Euro and can be earned and spent... Read more
Satoshi Nakamoto is a person or group of people who created the Bitcoin protocol and reference software, Bitcoin Core. In 2008, Nakamoto published a paper on The Cryptography Mailing list at metzdowd.com describing the Bitcoin digital currency. In 2009, he released the first Bitcoin software that launched the network and the first units of the Bitcoin currency,... Read more
The Directive on Payment Services (PSD) provides the legal foundation for the creation of an EU-wide single market for payments. The PSD aims at establishing a modern and comprehensive set of rules applicable to all payment services in the European Union. The target is to make cross-border payments as easy, efficient and secure as ‘national’... Read more
A “legal backed tender currency” refers to a complimentary currency that is guaranteed to be redeemable for legal tender. The Brixton Pound is an example of this type of currency.
The Krugerrand is a South African 22-karat gold coin, available in denominations of half, quarter and a tenth of an ounce of gold. First minted in 1967 to help market South African Gold, the Krugerrand has since become the most popular choice for global investors wanting to purchase gold bullion. Unusually, the Krugerrand has the... Read more
“Counter-cyclical” refers to any policy, instrument or phenomenon which is inversely proportional to fluctuations in the size of the overall economy. That is, when the economy as a whole expands, the counter-cyclical elements contracts; when the economy as a whole contracts, the counter-cyclical elements expands. This functions to stabilise the economy over time by partially... Read more
Convertibility refers to whether or not a currency can be directly exchanged for either another currency (e.g., a complementary currency for a national currency, or one national currency for another) or a commodity (e.g., gold). Whether or not complementary currencies incorporate this feature depends on what they want to achieve. For example, the Brixton Pound... Read more
A system established to settle payments among banks or, in relation to the markets, to facilitate transactions such as the transfer of ownership of securities. In the markets, the clearing process is performed by a clearing house. In the banking sector, a bank is described as a clearing bank if it is a member bank... Read more
Echo is a timebank based in East London and focusing on business-to-business exchanges. It was conceived as part of the Olympic Park (re)development process and now offers a platform for business, organizations and individuals to trade skills and time-denominated assets. It also offers its online platform to local timebanks. Read more on http://economyofhours.com
The token is the proposed local currency of the Local Economic Direct Democracy Association (LEDDA) framework, under development by the LEDDA Partnership. The LEDDA framework, or synonymously, LEDDA economic direct democracy, is a local, parallel economic system that synthesizes a host of local, open, and participatory approaches to make them scalable, efficient, secure, stable, and... Read more
Please refer to Demurrage!
Please refer to Complementary currency!
General description Digital currency is a form of currency or medium of exchange that is electronically created and stored (i.e., distinct from physical, such as banknotes and coins). Virtual currencies are a type of digital currency, meaning that all virtual currencies are digital, but the converse is incorrect. Cryptocurrencies like Bitcoin are another type of digital currency, but... Read more
A community currency in Ireland launched as part of the Baratavia project. More info: http://www.feasta.org/1999/05/18/the-barataria-project/
Tony Greenham is head of business and finance at NEF (the New Economics Foundation). He has previously worked in investment banking at Credit Suisse and Barclays. Read more abuot him here: http://www.neweconomics.org/people/entry/tony-greenham
One of Germany’s regional currencies (regiogeld), operating in Oberland. Until we add more content to this article, for more information visit their website.
Loyalty points given to consumers when they spend money at Sainsbury, one of the largest retailer in the UK. More info: http://en.wikipedia.org/wiki/Nectar_loyalty_card
MLC is a French term for local currencies, similar to the UK Transition Currencies, or the German Regiogeld. See: http://monnaie-locale-complementaire.net/
“The complementary currency (cc) Research Group is a network of scientific researchers, academic and other, working on complementary currency systems and related types of appropriate and sustainable exchange systems. The purpose of the ccResearch Group is to provide peer support and collaboration across individuals, institutions and disciplines, aspiring to “open notebook science” principles. The group... Read more
A nondevaluating, “inflation proof” currency, the Exeter Constant was created in the 1970’s by economist Ralph Borsodi. Seeing inflation as a central problem of Keynesian economics and international trade, Borsodi envisioned a global currency whose value would remain “constant” in relation to the real economy of production and commodity exchange. The Exeter Constant’s value was... Read more
General Description Pay-by-text allows users and businesses to transfer funds by simply sending an SMS. Because of its convenience, this method of payment is used by many complimentary currencies, including the Brixton Pound and Bristol Pound. See more at: http://brixtonpound.org/how-b-works/for-users/pay-with-be-pay-by-text/ Watch the video below to see how Pay-by-text works.
Economic value is a measure of the benefit provided by a good or service to an economic agent. It is generally measured relative to units of currency, and the interpretation is therefore “what is the maximum amount of money a specific actor is willing and able to pay for the good or service”? Note that... Read more
Please refer to electronic money!
General description The software CC2 (Community Currency 2) is a customised, repackaged version of Cyclos 3.7 which is designed to: Allow small communities to get up and running quickly with the world’s leading alternative currency software Improve the look and feel of Cyclos and make it more intuitive for users Add additional reporting functionality (x... Read more
A system created to manage the mutual credit created at the time of the transaction as a corresponding credit and debit in the balances of the two parties.
Currency proposals are ideas for currencies that have been communicated publically but have yet to be implemented.
A reduction in the overall amount of money due on a particular transaction.
In economics, “hoarding” refers to the accumulation and holding of a resource, usually with the expectation that it will be more profitable if released to the market at a latter date. Hoarding often occurs because of fear, accurate or otherwise, of imminent societal collapse of resource scarcity. For example – as has often been the case... Read more
An accounting system – also known as accounting software – is an application software that records and processes accounting transactions within functional modules such as accounts payable, accounts receivable, payroll, and trial balance. It functions as an accounting information system. It may be developed in-house by the company or organization using it, may be purchased... Read more
The exact definition of the term commodity is specifically used to describe a class of goods for which there is demand, but which is supplied without qualitative differentiation across a market. In other words, commodities are produced exclusively for profit-generating purposes within a capitalist market economy – or, in technical terms, for their quantitative and... Read more
In America the time dollar is the fundamental unit of exchange in a time bank, equal to one hour of a person’s labor. More info: http://en.wikipedia.org/wiki/Time-based_currency#The_time_dollar
A loan is when someone who has title to something agrees to offer it to someone else to use for a given period of time.
Value for People is an organisation run by John Rogers. For more information, visit their website.
WICC promotes four core values and practice principles of Time Banking: – All people are treated as assets – everyone has something to contribute – The work people do to maintain communities is valued equally as essential work – People practice give and take – reciprocity or mutualism – People create active social networks or... Read more
New research to study the growth and diffusion of complementary currencies (new forms of money) around the world, and produce policy and practice lessons to harness these grassroots innovations for sustainability. This two year research project is led by Gill Seyfang at UEA and funded by the Leverhulme Trust. It aims to investigate grassroots innovations... Read more
GEM is a digital “commodity-based” or “basket” currency. Like other currencies of this type, it is designed to be non-inflationary – i.e., because the value of the currency is directly tied to the aggregate value of a number of “core” commodities, it never loses value in relation to commodity prices. More info: http://www.gemproject.org/
The First International Conference on Complementary and Community Currencies was held in Lyon in 2012. The conference brought together academics, government officials, policy makers and practitioners to discuss the benefits of complementary and community currencies, as well as the challenges in their successful implementation. Both the first and following conferences were organised by the International... Read more
ISS is an international graduate school of policy-oriented critical social science. It brings together students and teachers from the Global South and the North in a European environment.
The Second International Conference on Complementary and Community Currencies was held in Lyon in 2013. The conference brought together academics, government officials, policy makers and practitioners to discuss the benefits of complementary and community currencies, as well as the challenges in their successful implementation. The conference was organised by the International Institute of Social Studies... Read more
Redes de Trueque is the French name for barter networks.
Timebank run in the US city of St.Louis.
General description The term “virtual currency” was defined in 2012 by the European Central Bank as “a type of unregulated, digital money, which is issued and usually controlled by its developers, and used and accepted among the members of a specific virtual community”. The US Department of Treasury in 2013 defined it as “a medium of exchange that... Read more
General description A loyalty or rewards scheme is a marketing effort that encourage buying behaviour through the provision of discounts on the current purchase, or an allotment of points or credits that can be used for discounts or as currency in future purchases. These programmes are offered by a company or a group of companies to customers who... Read more
Issuance is the act of creating new money.
An alternative currency (or private currency) is any currency used as an alternative to the dominant national or multinational currency systems. They are created by an individual, corporation, or organization, they can be created by national, state, or local governments, or they can arise naturally as people begin to use a certain commodity as a... Read more