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:title: 2021 Mid Year CIC Update
:author: Will Ruddick
:date: May 11
:date: May 11 2021
:slug: 2021-mid
:summary: We grew from a few thousands users to over 50,000 and have seen roughly 3 Million USD worth of trade between users for basic needs.

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:title: Claims, Currencies and Cryptography
:author: Will Ruddick
:date: Jun 22
:date: Jun 22 2021
:slug: claims-currencies
:modified: Jun 29
:summary: We need frameworks and protocols for various types of endorsed claims that can be held self-sovereignty by individuals and groups.

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:title: Community Currencies and DEX Multitudes
:author: Will Ruddick
:date: Jan 7
:date: Jan 7 2021
:slug: community-currencies
:summary: Decentralized Exchange (DEX) Contracts contain multitudes. There are nearly infinite ways to use them to connect blockchain contracts...

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.. image:: images/blog/community-currency1.webp
Grassroots Economics has opened up its archives of design and implementation to students world wide through a hands-on, practical course in Kenya. After having our first round of students this year with great results, we are excited to open up enrollment to students across Africa and abroad.
Become a `certified Community Currency designer <https://www.grassrootseconomics.org/get-involved>`_.
Become a certified Community Currency designer.
Become a certified Community Currency designer.
`certified Community Currency designer <https://www.grassrootseconomics.org/get-involved>`_
After understanding how to tap into the abundance of communities and build resilient thriving local economies you will never look at money in the same way.
@ -38,7 +28,7 @@ After understanding how to tap into the abundance of communities and build resil
`Click here to inquire about the course <https://www.grassrootseconomics.org/get-involved>`_
`Click here to inquire about the course <https://www.grassrootseconomics.org/get-involved>`_
@ -48,18 +38,10 @@ This course will immerse you into the world of Community Currencies as a tool fo
Topical Outline:
Community Currency Theory:development economics, history of money, financial systems and debt, currency models, goals standards and ethics.
@ -68,60 +50,6 @@ Community Currency Theory:development economics, history of money, financial sys
Preparation & Development: community participation and ownership, system design, voucher creation, communications, partnerships, and legality.
Preparation & Development: community participation and ownership, system design, voucher creation, communications, partnerships, and legality.
Preparation & Development: community participation and ownership, system design, voucher creation, communications, partnerships, and legality.
Setup & Launch: cooperative facilitation, collateral asset development, financial sustainability, and marketing.
Long Term Care: long-term support, audits, Community Currency renewal.
Setup & Launch: cooperative facilitation, collateral asset development, financial sustainability, and marketing.
Long Term Care: long-term support, audits, Community Currency renewal.
Setup & Launch: cooperative facilitation, collateral asset development, financial sustainability, and marketing.
Long Term Care: long-term support, audits, Community Currency renewal.
Setup & Launch: cooperative facilitation, collateral asset development, financial sustainability, and marketing.
Long Term Care: long-term support, audits, Community Currency renewal.
Setup & Launch: cooperative facilitation, collateral asset development, financial sustainability, and marketing.
Long Term Care: long-term support, audits, Community Currency renewal.
Setup & Launch: cooperative facilitation, collateral asset development, financial sustainability, and marketing.
Long Term Care: long-term support, audits, Community Currency renewal.
Setup & Launch: cooperative facilitation, collateral asset development, financial sustainability, and marketing.
Long Term Care: long-term support, audits, Community Currency renewal.
@ -134,33 +62,11 @@ Management: system maintenance, legal reporting, accounting, currency circulatio
Management: system maintenance, legal reporting, accounting, currency circulation, administration, data collection, and personnel.
Management: system maintenance, legal reporting, accounting, currency circulation, administration, data collection, and personnel.
Fieldwork: on-the-ground survey work and interviews; lessons learned from previous Community Currency models; taking part in community currency events and activities; economic resource mapping.
Fieldwork: on-the-ground survey work and interviews; lessons learned from previous Community Currency models; taking part in community currency events and activities; economic resource mapping.
Fieldwork: on-the-ground survey work and interviews; lessons learned from previous Community Currency models; taking part in community currency events and activities; economic resource mapping.
Schedule: The course covers five days of classroom and field experiences but can be shortened to as little as three days to meet the needs of the students.

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.. image:: images/blog/community-inclusion18.webp
.. image:: images/blog/community-inclusion1.webp
@ -24,26 +23,14 @@ We’ve been waiting for this since 2015 when we first started using USSD to con
This means we can fully customize the system to:
This means we can fully customize the system to:
This means we can fully customize the system to:
* Use any blockchain, smart contracts or reserve tokens.
* From virtual backing to on-chain collateral for CICs
* Improve speeds and usability:
* Wallet Creation and Registration process: 15 minutes to 2 minutes
* Transaction and Validation Process: 2+ minutes to 5 seconds
* Provide real time support for user challenges
* Use any blockchain, smart contracts or reserve tokens.
* From virtual backing to on-chain collateral for CICs
* Improve speeds and usability:
* Wallet Creation and Registration process: 15 minutes to 2 minutes
* Transaction and Validation Process: 2+ minutes to 5 seconds
* Provide real time support for user challenges
These may sound like small improvements, but because of them our current, 8000+ and growing, users will be able to trade and create CICs to support their local communities across Kenya. CICs allow users to easily create shares of pooled funds in national currency as a medium of exchange for local goods and services. We’re so appreciative to stand on the shoulders of giants like Eyal Hertzog (and the Bancor team's open source smart contract), as well as Friedrich Hayek and Bernard Lietear with their vision for multi-currency ecosystems.
@ -52,15 +39,13 @@ These may sound like small improvements, but because of them our current, 8000+
**What’s left to do?**
**What’s left to do?**
What’s left to do?
* Analysis and Modeling: BlockScience and researchers with on the ground pioneer communities
* Improving the platform: Volunteer programmers and teams with security audits while reacting to user feedback
* Dashboarding and Support: Gender, Business types, transaction data, SDG Impacts. How can detailed CIC economic data be used to help marginalized economies become resilient?
* User Guides and Materials: Red Cross and users, translations, localizations, modular systems and local customizations
* Analysis and Modeling: BlockScience and researchers with on the ground pioneer communities
* Improving the platform: Volunteer programmers and teams with security audits while reacting to user feedback
* Dashboarding and Support: Gender, Business types, transaction data, SDG Impacts. How can detailed CIC economic data be used to help marginalized economies become resilient?
* User Guides and Materials: Red Cross and users, translations, localizations, modular systems and local customizations
@ -98,26 +83,7 @@ Note that we are rebuilding the code base and will not be using Sempo's system i
`#opensource <https://www.grassrootseconomics.org/blog/hashtags/opensource>`_ `#RedCross <https://www.grassrootseconomics.org/blog/hashtags/RedCross>`_ `#CIC <https://www.grassrootseconomics.org/blog/hashtags/CIC>`_
#opensource #RedCross #CIC
#opensource #RedCross #CIC
`#opensource <https://www.grassrootseconomics.org/blog/hashtags/opensource>`_
#opensource
`#RedCross <https://www.grassrootseconomics.org/blog/hashtags/RedCross>`_
#RedCross
`#CIC <https://www.grassrootseconomics.org/blog/hashtags/CIC>`_
#CIC

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:summary: This shows us that the presence of Sarafu stabilizes the economic system, working as a buffer in the months when the national currency is sc
**Introduction
**Introduction**
Sarafu is a network of interoperable community currencies implemented by Grassroots Economics, aimed at eradicating poverty through the creation of endogenous credit in the marginalized communities (Ruddick et al., 2018). In Kenya the Sarafu network has been implemented in communities living below the poverty threshold in both rural areas and urban slums. One of the most successful cases of such implementation is that of Miyani, part of the Kasameni sub-location, where the community currency spread to more than 4800 users at the time of this study. Sarafu is, however, only the most recent step on the path of financial innovation for the inclusion of marginalized communities in Kenya. As Edwards (Edwards, 2016 p.2016) shows, for instance, mentioning the case of M-Pesa:**
Introduction
Sarafu is a network of interoperable community currencies implemented by Grassroots Economics, aimed at eradicating poverty through the creation of endogenous credit in the marginalized communities (Ruddick et al., 2018). In Kenya the Sarafu network has been implemented in communities living below the poverty threshold in both rural areas and urban slums. One of the most successful cases of such implementation is that of Miyani, part of the Kasameni sub-location, where the community currency spread to more than 4800 users at the time of this study. Sarafu is, however, only the most recent step on the path of financial innovation for the inclusion of marginalized communities in Kenya. As Edwards (Edwards, 2016 p.2016) shows, for instance, mentioning the case of M-Pesa:
Introduction
Sarafu is a network of interoperable community currencies implemented by Grassroots Economics, aimed at eradicating poverty through the creation of endogenous credit in the marginalized communities (Ruddick et al., 2018). In Kenya the Sarafu network has been implemented in communities living below the poverty threshold in both rural areas and urban slums. One of the most successful cases of such implementation is that of Miyani, part of the Kasameni sub-location, where the community currency spread to more than 4800 users at the time of this study. Sarafu is, however, only the most recent step on the path of financial innovation for the inclusion of marginalized communities in Kenya. As Edwards (Edwards, 2016 p.2016) shows, for instance, mentioning the case of M-Pesa:
Introduction
Sarafu is a network of interoperable community currencies implemented by Grassroots Economics, aimed at eradicating poverty through the creation of endogenous credit in the marginalized communities (Ruddick et al., 2018). In Kenya the Sarafu network has been implemented in communities living below the poverty threshold in both rural areas and urban slums. One of the most successful cases of such implementation is that of Miyani, part of the Kasameni sub-location, where the community currency spread to more than 4800 users at the time of this study. Sarafu is, however, only the most recent step on the path of financial innovation for the inclusion of marginalized communities in Kenya. As Edwards (Edwards, 2016 p.2016) shows, for instance, mentioning the case of M-Pesa:
@ -42,142 +25,42 @@ The achievement that the Sarafu network brings about is the chance to create and
The achievement that the Sarafu network brings about is the chance to create and use a complementary currency, helping the communities to overcome the scarcity of national currency, which is accepted 1:1 with the national currency by the local businesses. It has been shown to provide a liquid means of exchange to the members of the communities that effectively incentivizes local production through its circulation, and to have helped the users to increase their savings in Kenya Shillings, as Marion Cauvet has shown (Cauvet, 2018).
The achievement that the Sarafu network brings about is the chance to create and use a complementary currency, helping the communities to overcome the scarcity of national currency, which is accepted 1:1 with the national currency by the local businesses. It has been shown to provide a liquid means of exchange to the members of the communities that effectively incentivizes local production through its circulation, and to have helped the users to increase their savings in Kenya Shillings, as Marion Cauvet has shown (Cauvet, 2018).
In order to provide further evidence for the impact of Sarafu, its circulation will be analysed and compared to that of other eMoney services in Kenya used by the sample group.
This comparison is also important, because eMoney is one of the few alternative means of exchange to cash in areas such as Miyani, since very few of its inhabitants have a bank account, and, therefore, it is difficult to find reliable data relative to the circulation of national currency.
In order to provide further evidence for the impact of Sarafu, its circulation will be analysed and compared to that of other eMoney services in Kenya used by the sample group.
This comparison is also important, because eMoney is one of the few alternative means of exchange to cash in areas such as Miyani, since very few of its inhabitants have a bank account, and, therefore, it is difficult to find reliable data relative to the circulation of national currency.
In order to provide further evidence for the impact of Sarafu, its circulation will be analysed and compared to that of other eMoney services in Kenya used by the sample group.
This comparison is also important, because eMoney is one of the few alternative means of exchange to cash in areas such as Miyani, since very few of its inhabitants have a bank account, and, therefore, it is difficult to find reliable data relative to the circulation of national currency.
In order to provide further evidence for the impact of Sarafu, its circulation will be analysed and compared to that of other eMoney services in Kenya used by the sample group.
This comparison is also important, because eMoney is one of the few alternative means of exchange to cash in areas such as Miyani, since very few of its inhabitants have a bank account, and, therefore, it is difficult to find reliable data relative to the circulation of national currency.
In order to provide further evidence for the impact of Sarafu, its circulation will be analysed and compared to that of other eMoney services in Kenya used by the sample group.
This comparison is also important, because eMoney is one of the few alternative means of exchange to cash in areas such as Miyani, since very few of its inhabitants have a bank account, and, therefore, it is difficult to find reliable data relative to the circulation of national currency.
**Analysis of the Transactions
**Analysis of the Transactions**
The sample consists of 6 individuals living in the Miyani area (4 men and 2 women), who voluntarily disclosed their eMoney transactions, which have been compared to the transaction dataset stored on the Sarafu open source blockchain-based database. The period considered is the Semester between June and December 2019. However small, the sample is considered to be representative of the population of Miyani.**
Analysis of the Transactions
The sample consists of 6 individuals living in the Miyani area (4 men and 2 women), who voluntarily disclosed their eMoney transactions, which have been compared to the transaction dataset stored on the Sarafu open source blockchain-based database. The period considered is the Semester between June and December 2019. However small, the sample is considered to be representative of the population of Miyani.
Analysis of the Transactions
The sample consists of 6 individuals living in the Miyani area (4 men and 2 women), who voluntarily disclosed their eMoney transactions, which have been compared to the transaction dataset stored on the Sarafu open source blockchain-based database. The period considered is the Semester between June and December 2019. However small, the sample is considered to be representative of the population of Miyani.
Analysis of the Transactions
The sample consists of 6 individuals living in the Miyani area (4 men and 2 women), who voluntarily disclosed their eMoney transactions, which have been compared to the transaction dataset stored on the Sarafu open source blockchain-based database. The period considered is the Semester between June and December 2019. However small, the sample is considered to be representative of the population of Miyani.
All the individuals considered used both traditional e-money and Sarafu. The data show that the 6 users analysed, conducted 578 transactions through Sarafu worth a total volume of 185,666 and 685 through E-money worth 148,757 Kenya Shillings.
All the individuals considered used both traditional e-money and Sarafu. The data show that the 6 users analysed, conducted 578 transactions through Sarafu worth a total volume of 185,666 and 685 through E-money worth 148,757 Kenya Shillings.
.. image:: images/blog/comparative-analysis1.webp
All the individuals considered used both traditional e-money and Sarafu. The data show that the 6 users analysed, conducted 578 transactions through Sarafu worth a total volume of 185,666 and 685 through E-money worth 148,757 Kenya Shillings.
.. image:: images/blog/comparative-analysis44.webp
Over the whole time period transactions in Sarafu produced a volume roughly 24,8% higher than those in Kenya Shillings via eMoney.
Moreover, it can be observed that, during June, August and November more Kenya Shillings were exchanged through E-money than Sarafu, whereas in July, September, October and December it was the opposite showing a counter cyclical effect likely related to crop yields. The maximum volume exchanged in one month through Sarafu was 58,554 (December), whereas the maximum amount exchanged via E-money in the period observed was 49457 (November). The standard deviation of the monthly volume exchanged in Sarafu is 9553,958855 Sarafu, whereas that of the volume of Kenya Shillings transactions is 14,214,05, whereas the total standard deviation of exchanges both in Sarafu and Kenya Shillings, amounts to 21600,17471, which is lower than the sum of the other two (amounting to 23768,01553). This shows us that the presence of Sarafu stabilizes the economic system, working as a buffer in the months when the national currency is scarce. It is moreover worth to notice that both the volume of the transactions in Kenya Shillings and Sarafu grew over the period. This is evident if it is taken into account that the sum of volumes in June, July, August and September , amounting to 71043 for eMoney and , is inferior to the that in the last 3 months, worth 77680. The same can be said for the volume exchanged in Sarafu, amounting to 55433 and 130143 respectively.
Moreover, it can be observed that, during June, August and November more Kenya Shillings were exchanged through E-money than Sarafu, whereas in July, September, October and December it was the opposite showing a counter cyclical effect likely related to crop yields. The maximum volume exchanged in one month through Sarafu was 58,554 (December), whereas the maximum amount exchanged via E-money in the period observed was 49457 (November). The standard deviation of the monthly volume exchanged in Sarafu is 9553,958855 Sarafu, whereas that of the volume of Kenya Shillings transactions is 14,214,05, whereas the total standard deviation of exchanges both in Sarafu and Kenya Shillings, amounts to 21600,17471, which is lower than the sum of the other two (amounting to 23768,01553). **This shows us that the presence of Sarafu stabilizes the economic system, working as a buffer in the months when the national currency is scarce**. It is moreover worth to notice that both the volume of the transactions in Kenya Shillings and Sarafu grew over the period. This is evident if it is taken into account that the sum of volumes in June, July, August and September , amounting to 71043 for eMoney and , is inferior to the that in the last 3 months, worth 77680. The same can be said for the volume exchanged in Sarafu, amounting to 55433 and 130143 respectively.
Moreover, it can be observed that, during June, August and November more Kenya Shillings were exchanged through E-money than Sarafu, whereas in July, September, October and December it was the opposite showing a counter cyclical effect likely related to crop yields. The maximum volume exchanged in one month through Sarafu was 58,554 (December), whereas the maximum amount exchanged via E-money in the period observed was 49457 (November). The standard deviation of the monthly volume exchanged in Sarafu is 9553,958855 Sarafu, whereas that of the volume of Kenya Shillings transactions is 14,214,05, whereas the total standard deviation of exchanges both in Sarafu and Kenya Shillings, amounts to 21600,17471, which is lower than the sum of the other two (amounting to 23768,01553). This shows us that the presence of Sarafu stabilizes the economic system, working as a buffer in the months when the national currency is scarce. It is moreover worth to notice that both the volume of the transactions in Kenya Shillings and Sarafu grew over the period. This is evident if it is taken into account that the sum of volumes in June, July, August and September , amounting to 71043 for eMoney and , is inferior to the that in the last 3 months, worth 77680. The same can be said for the volume exchanged in Sarafu, amounting to 55433 and 130143 respectively.
Moreover, it can be observed that, during June, August and November more Kenya Shillings were exchanged through E-money than Sarafu, whereas in July, September, October and December it was the opposite showing a counter cyclical effect likely related to crop yields. The maximum volume exchanged in one month through Sarafu was 58,554 (December), whereas the maximum amount exchanged via E-money in the period observed was 49457 (November). The standard deviation of the monthly volume exchanged in Sarafu is 9553,958855 Sarafu, whereas that of the volume of Kenya Shillings transactions is 14,214,05, whereas the total standard deviation of exchanges both in Sarafu and Kenya Shillings, amounts to 21600,17471, which is lower than the sum of the other two (amounting to 23768,01553). This shows us that the presence of Sarafu stabilizes the economic system, working as a buffer in the months when the national currency is scarce. It is moreover worth to notice that both the volume of the transactions in Kenya Shillings and Sarafu grew over the period. This is evident if it is taken into account that the sum of volumes in June, July, August and September , amounting to 71043 for eMoney and , is inferior to the that in the last 3 months, worth 77680. The same can be said for the volume exchanged in Sarafu, amounting to 55433 and 130143 respectively.
**Moreover, it can be observed that, during June, August and November more Kenya Shillings were exchanged through E-money than Sarafu, whereas in July, September, October and December it was the opposite showing a counter cyclical effect likely related to crop yields. The maximum volume exchanged in one month through Sarafu was 58,554 (December), whereas the maximum amount exchanged via E-money in the period observed was 49457 (November). The standard deviation of the monthly volume exchanged in Sarafu is 9553,958855 Sarafu, whereas that of the volume of Kenya Shillings transactions is 14,214,05, whereas the total standard deviation of exchanges both in Sarafu and Kenya Shillings, amounts to 21600,17471, which is lower than the sum of the other two (amounting to 23768,01553). This shows us that the presence of Sarafu stabilizes the economic system, working as a buffer in the months when the national currency is scarce. It is moreover worth to notice that both the volume of the transactions in Kenya Shillings and Sarafu grew over the period. This is evident if it is taken into account that the sum of volumes in June, July, August and September , amounting to 71043 for eMoney and , is inferior to the that in the last 3 months, worth 77680. The same can be said for the volume exchanged in Sarafu, amounting to 55433 and 130143 respectively.**
Moreover, it can be observed that, during June, August and November more Kenya Shillings were exchanged through E-money than Sarafu, whereas in July, September, October and December it was the opposite showing a counter cyclical effect likely related to crop yields. The maximum volume exchanged in one month through Sarafu was 58,554 (December), whereas the maximum amount exchanged via E-money in the period observed was 49457 (November). The standard deviation of the monthly volume exchanged in Sarafu is 9553,958855 Sarafu, whereas that of the volume of Kenya Shillings transactions is 14,214,05, whereas the total standard deviation of exchanges both in Sarafu and Kenya Shillings, amounts to 21600,17471, which is lower than the sum of the other two (amounting to 23768,01553). This shows us that the presence of Sarafu stabilizes the economic system, working as a buffer in the months when the national currency is scarce. It is moreover worth to notice that both the volume of the transactions in Kenya Shillings and Sarafu grew over the period. This is evident if it is taken into account that the sum of volumes in June, July, August and September , amounting to 71043 for eMoney and , is inferior to the that in the last 3 months, worth 77680. The same can be said for the volume exchanged in Sarafu, amounting to 55433 and 130143 respectively.
By analysing more in detail the eMoney transactions, however, it can be noticed that the overall outflow consists of: 26744 Ksh transferred to other accounts, 33823 Ksh withdrawals and 12456 Ksh used to pay bills.
Conversely, in the same time period, Sarafu were mainly spent among local businesses for buying farm produce(42221), fish(36626), vegetables (30295), water (27321), to save or to take loans from the chama, that is a savings and loans association (26600).
By analysing more in detail the eMoney transactions, however, it can be noticed that the overall outflow consists of: 26744 Ksh transferred to other accounts, 33823 Ksh withdrawals and 12456 Ksh used to pay bills.
Conversely, in the same time period, Sarafu were mainly spent among local businesses for buying farm produce(42221), fish(36626), vegetables (30295), water (27321), to save or to take loans from the chama, that is a savings and loans association (26600).
By analysing more in detail the eMoney transactions, however, it can be noticed that the overall outflow consists of: 26744 Ksh transferred to other accounts, 33823 Ksh withdrawals and 12456 Ksh used to pay bills.
Conversely, in the same time period, Sarafu were mainly spent among local businesses for buying farm produce(42221), fish(36626), vegetables (30295), water (27321), to save or to take loans from the chama, that is a savings and loans association (26600).
By analysing more in detail the eMoney transactions, however, it can be noticed that the overall outflow consists of: 26744 Ksh transferred to other accounts, 33823 Ksh withdrawals and 12456 Ksh used to pay bills.
Conversely, in the same time period, Sarafu were mainly spent among local businesses for buying farm produce(42221), fish(36626), vegetables (30295), water (27321), to save or to take loans from the chama, that is a savings and loans association (26600).
By analysing more in detail the eMoney transactions, however, it can be noticed that the overall outflow consists of: 26744 Ksh transferred to other accounts, 33823 Ksh withdrawals and 12456 Ksh used to pay bills.
Conversely, in the same time period, Sarafu were mainly spent among local businesses for buying farm produce(42221), fish(36626), vegetables (30295), water (27321), to save or to take loans from the chama, that is a savings and loans association (26600).
@ -186,25 +69,9 @@ Conversely, in the same time period, Sarafu were mainly spent among local busin
**Preliminary Results
**Preliminary Results**
The volume of the exchanges, differed significantly, showing that Sarafu circulated faster than the emoney in the period considered. Moreover, it is evident that the majority of Sarafu were spent among local businesses, whereas a larger portion of the Kenya Shillings circulating were withdrawn. Furthermore Sarafu, even though it was implemented only in 2017 in the Miyani area (Cauvet, 2018), plays a fundamental role in the life of these inhabitants of Miyani, who benefit from the interaction between the national currency and the alternative currency to meet their everyday needs. More specifically, evidence shows that Sarafu worked as a counter-cyclical buffer, bringing stability to the local economic system, and fostered circulation of goods and services also through traditional e-money, as it can be noticed from the fact that the overall volume exchanged not only in Sarafu, but also that in Kenya Shillings increased over the time period. Due to the scarcity of data, however, the conclusions achieved are only partial, and, therefore, further research should confirm the findings.**
Preliminary Results
The volume of the exchanges, differed significantly, showing that Sarafu circulated faster than the emoney in the period considered. Moreover, it is evident that the majority of Sarafu were spent among local businesses, whereas a larger portion of the Kenya Shillings circulating were withdrawn. Furthermore Sarafu, even though it was implemented only in 2017 in the Miyani area (Cauvet, 2018), plays a fundamental role in the life of these inhabitants of Miyani, who benefit from the interaction between the national currency and the alternative currency to meet their everyday needs. More specifically, evidence shows that Sarafu worked as a counter-cyclical buffer, bringing stability to the local economic system, and fostered circulation of goods and services also through traditional e-money, as it can be noticed from the fact that the overall volume exchanged not only in Sarafu, but also that in Kenya Shillings increased over the time period. Due to the scarcity of data, however, the conclusions achieved are only partial, and, therefore, further research should confirm the findings.
Preliminary Results
The volume of the exchanges, differed significantly, showing that Sarafu circulated faster than the emoney in the period considered. Moreover, it is evident that the majority of Sarafu were spent among local businesses, whereas a larger portion of the Kenya Shillings circulating were withdrawn. Furthermore Sarafu, even though it was implemented only in 2017 in the Miyani area (Cauvet, 2018), plays a fundamental role in the life of these inhabitants of Miyani, who benefit from the interaction between the national currency and the alternative currency to meet their everyday needs. More specifically, evidence shows that Sarafu worked as a counter-cyclical buffer, bringing stability to the local economic system, and fostered circulation of goods and services also through traditional e-money, as it can be noticed from the fact that the overall volume exchanged not only in Sarafu, but also that in Kenya Shillings increased over the time period. Due to the scarcity of data, however, the conclusions achieved are only partial, and, therefore, further research should confirm the findings.
Preliminary Results
The volume of the exchanges, differed significantly, showing that Sarafu circulated faster than the emoney in the period considered. Moreover, it is evident that the majority of Sarafu were spent among local businesses, whereas a larger portion of the Kenya Shillings circulating were withdrawn. Furthermore Sarafu, even though it was implemented only in 2017 in the Miyani area (Cauvet, 2018), plays a fundamental role in the life of these inhabitants of Miyani, who benefit from the interaction between the national currency and the alternative currency to meet their everyday needs. More specifically, evidence shows that Sarafu worked as a counter-cyclical buffer, bringing stability to the local economic system, and fostered circulation of goods and services also through traditional e-money, as it can be noticed from the fact that the overall volume exchanged not only in Sarafu, but also that in Kenya Shillings increased over the time period. Due to the scarcity of data, however, the conclusions achieved are only partial, and, therefore, further research should confirm the findings.
@ -214,47 +81,14 @@ The volume of the exchanges, differed significantly, showing that Sarafu circula
https://github.com/GrassrootsEconomics/TransactionDatasets
https://github.com/GrassrootsEconomics/TransactionDatasets
https://github.com/GrassrootsEconomics/TransactionDatasets
`https://github.com/GrassrootsEconomics/TransactionDatasets <mailto:sowelu94@gmail.com>`_
*The transaction data relative to the traditional forms of E-money were collected by Sowelu Avanzo, a student of the University of Torino, while he was conducting the fieldwork for his research on the Sarafu network in Miyani from October to December 2019. For more information on this ongoing research contact sowelu94@gmail.com*
`sowelu94@gmail.com <mailto:sowelu94@gmail.com>`_
#research #eMoney #mpesa #communitycurrency
*The transaction data relative to the traditional forms of E-money were collected by Sowelu Avanzo, a student of the University of Torino, while he was conducting the fieldwork for his research on the Sarafu network in Miyani from October to December 2019. For more information on this ongoing research contact* `sowelu94@gmail.com <mailto:sowelu94@gmail.com>`_.
#research #eMoney #mpesa #communitycurrency
`#research <https://www.grassrootseconomics.org/blog/hashtags/research>`_ `#eMoney <https://www.grassrootseconomics.org/blog/hashtags/eMoney>`_ `#mpesa <https://www.grassrootseconomics.org/blog/hashtags/mpesa>`_ `#communitycurrency <https://www.grassrootseconomics.org/blog/hashtags/communitycurrency>`_
#research #eMoney #mpesa #communitycurrency
`#research <https://www.grassrootseconomics.org/blog/hashtags/research>`_
#research
`#eMoney <https://www.grassrootseconomics.org/blog/hashtags/eMoney>`_
#eMoney
`#mpesa <https://www.grassrootseconomics.org/blog/hashtags/mpesa>`_
#mpesa
`#communitycurrency <https://www.grassrootseconomics.org/blog/hashtags/communitycurrency>`_
#communitycurrency

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@ -16,16 +16,11 @@ Bangladesh, Kenya is an informal settlement of approximatly 20 000 inhabitants a
The purpose of these sessions was to:
1. Gauge business community interest in Complementary Currencies (mutual credit).
2. Identify benefits and challenges of a Complementary Currency
@ -42,53 +37,28 @@ The purpose of these sessions was to:
For a full report on the first two meetings visit:
Meeting 1
Meeting 2
Meeting 1
Meeting 2
`Meeting 1 <http://communityforge.net/Bangladesh_Kenya_1st_Meeting>`_ `Meeting 2 <http://communityforge.net/Bangladesh_Kenya_2nd_Meeting>`_
| `Meeting 1 <http://communityforge.net/Bangladesh_Kenya_1st_Meeting>`_
| `Meeting 2 <http://communityforge.net/Bangladesh_Kenya_2nd_Meeting>`_
|
These meetings will continue in January and help lead the way for base line data collection, community ownership and implementation.
.. image:: images/blog/complementary-currency52.webp
.. image:: images/blog/complementary-currency1.webp
`#complementarycurrencies <https://www.grassrootseconomics.org/blog/hashtags/complementarycurrencies>`_ `#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#complementarycurrencies #bangla
`#complementarycurrencies <https://www.grassrootseconomics.org/blog/hashtags/complementarycurrencies>`_
#complementarycurrencies
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla

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@ -6,9 +6,9 @@
:summary: Since we started using blockchain for CICs in September 2018 we have seen nearly half a million dollars (482k USD) worth of trade via 154k t
` <https://dashboard.sarafu.network/>`_
.. image:: images/blog/covid-19-blockchain18.webp
.. image:: images/blog/covid-19-blockchain1.webp
@ -27,18 +27,10 @@ Since January $26,300 USD from donors have been used via Mpesa (eMoney) to purch
Comparing transaction volume to donor aid since January we see 18.3x the amount of volume compared to the donor aid injected. See our dashboard below:
**Since January $26,300 USD from donors have been used via Mpesa (eMoney) to purchase these vouchers 1:1 from chamas (savings groups) and redistribute them to other needy members. These donor injections help peg the value of a CIC to National Currency and give women's groups the ability to purchase things not available in the network.
Comparing transaction volume to donor aid since January we see 18.3x the amount of volume compared to the donor aid injected. See our dashboard below:**
https://dashboard.sarafu.network/
Since January $26,300 USD from donors have been used via Mpesa (eMoney) to purchase these vouchers 1:1 from chamas (savings groups) and redistribute them to other needy members. These donor injections help peg the value of a CIC to National Currency and give women's groups the ability to purchase things not available in the network.
Comparing transaction volume to donor aid since January we see 18.3x the amount of volume compared to the donor aid injected. See our dashboard below:
` <https://dashboard.sarafu.network/>`_
.. image:: images/blog/covid-19-blockchain45.webp
@ -61,24 +53,10 @@ There has been a huge increase in usage since COVID-19 and specifically in Mukur
$2,780 USD of donor funds have been used via Mpesa (1:1 with National Currency) to purchase back these vouchers from chamas.
Comparing transaction volume to donor aid for Kayaba we see 34x the amount of volume compared to injected donor funds.
Comparing transaction volume to donor aid for Kayaba we see **34x** the amount of volume compared to injected donor funds.
Note that out of the 2,588 registered users in Kayaba 2,072 were registered since April 6th (starting with 516 users). That is a growth of 501.5% since Covid-19.
**$2,780 USD of donor funds have been used via Mpesa (1:1 with National Currency) to purchase back these vouchers from chamas.
Comparing transaction volume to donor aid for Kayaba we see 34x the amount of volume compared to injected donor funds.
Note that out of the 2,588 registered users in Kayaba 2,072 were registered since April 6th (starting with 516 users). That is a growth of 501.5% since Covid-19.**
$2,780 USD of donor funds have been used via Mpesa (1:1 with National Currency) to purchase back these vouchers from chamas.
Comparing transaction volume to donor aid for Kayaba we see 34x the amount of volume compared to injected donor funds.
Note that out of the 2,588 registered users in Kayaba 2,072 were registered since April 6th (starting with 516 users). That is a growth of 501.5% since Covid-19.
The photo above is a Kenya Red Cross trained Community Based Disaster Response Team member helping to spread awareness about COVID-19 in Mukuru, while also helping people identify where they can use their CICs to purchase basic commodities like soap, water and food, as well as where those shops can purchase from other shops and service providers in the network to encourage the community to support each other even when National Currency is scarce.

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@ -8,21 +8,19 @@
Tax Redistribution Algorithms
Tax Redistribution Algorithms
************************************
The local clustering coefficient (C) for a particular currency trading user is given by the proportion of connections or trade partners (via trading CICs) between the users within that users neighborhood divided by the number of connections that could possibly exist between them. https://en.wikipedia.org/wiki/Clustering_coefficient
`https://en.wikipedia.org/wiki/Clustering_coefficient <https://en.wikipedia.org/wiki/Clustering_coefficient>`_
The average clustering coefficient sums the clustering coefficients for all the users and divides by the number of users in that neighborhood.
.. image:: images/blog/currency-supply33.webp
The neighborhood could span to sum over 2nd and 3rd order trade partners as well. This average clustering coefficient (ACC) therefore gives us a simple measurement of how connected people are (how much do the users around a particular user (to 3rd order) trade with each other).
@ -36,42 +34,26 @@ The NACC for each user gives us a relative ranking of each user via the contente
K-Cycle centrality (like Teodoro is working on!) may be a good measure as well – and reminds me to mention – the characteristic time-frame is very important – clusters in this light are small structures that can form rapidly (1 week periods) while k-cycles (especially higher order k-cycles) may take months.
*K-Cycle centrality (like Teodoro is working on!) may be a good measure as well – and reminds me to mention – the characteristic time-frame is very important – clusters in this light are small structures that can form rapidly (1 week periods) while k-cycles (especially higher order k-cycles) may take months.*
K-Cycle centrality (like `Teodoro <https://networkdatascience.ceu.edu/people/teodoro-criscione>`_ is working on!) may be a good measure as well – and reminds me to mention – the characteristic time-frame is very important – clusters in this light are small structures that can form rapidly (1 week periods) while k-cycles (especially higher order k-cycles) may take months.
K-Cycle centrality (like Teodoro is working on!) may be a good measure as well – and reminds me to mention – the characteristic time-frame is very important – clusters in this light are small structures that can form rapidly (1 week periods) while k-cycles (especially higher order k-cycles) may take months.
*K-Cycle centrality (like Teodoro is working on!) may be a good measure as well – and reminds me to mention – the characteristic time-frame is very important – clusters in this light are small structures that can form rapidly (1 week periods) while k-cycles (especially higher order k-cycles) may take months.*
K-Cycle centrality (like Teodoro is working on!) may be a good measure as well – and reminds me to mention – the characteristic time-frame is very important – clusters in this light are small structures that can form rapidly (1 week periods) while k-cycles (especially higher order k-cycles) may take months.
`Teodoro <https://networkdatascience.ceu.edu/people/teodoro-criscione>`_ **You might be asking “a good measure for what?”**
**You might be asking “a good measure for what?”**
The distribution of pTNACC can tell us a lot about a network. If there are only a few very high pTNACC users it means that the network is potentially very brittle. It is also a metric that becomes harder and harder to fake or Sybil attack if there is a transaction and/or coordination cost – as the overall cost of the attack would grow exponentially.
On a weekly basis we can test this out on the current Kenyan trading data by asking are the users with a higher pTNACC actually important nodes in the network? It would seem so. Looking at the current data http://grassecon.org/research– users would be in the 90th percentile - highest ranking pTNACC scores end up being key nodes hubs or chamas (groups) in the Sarafu trading Network.
On a weekly basis we can test this out on the current Kenyan trading data by asking are the users with a higher pTNACC actually important nodes in the network? It would seem so. Looking at the current data http://grassecon.org/research– users would be in the 90th percentile - highest ranking pTNACC scores end up being key nodes hubs or chamas (groups) in the `Sarafu trading Network <https://www.grassrootseconomics.org/sarafu-network>`_ .
On a weekly basis we can test this out on the current Kenyan trading data by asking are the users with a higher pTNACC actually important nodes in the network? It would seem so. Looking at the current data http://grassecon.org/research– users would be in the 90th percentile - highest ranking pTNACC scores end up being key nodes hubs or chamas (groups) in the Sarafu trading Network.
On a weekly basis we can test this out on the current Kenyan trading data by asking are the users with a higher pTNACC actually important nodes in the network? It would seem so. Looking at the current data http://grassecon.org/research– users would be in the 90th percentile - highest ranking pTNACC scores end up being key nodes hubs or chamas (groups) in the Sarafu trading Network.
`http://grassecon.org/research <http://grassecon.org/research>`_ `Sarafu trading Network <https://www.grassrootseconomics.org/sarafu-network>`_
Looking at people and groups of people as important elements in a local economy as a social scoring system is quite interesting. Especially is its fallibility is tied up in the ultimate cost to game the system compared to any potential benefits. In addition, if people receive a tax benefit or tax redistribution based on a higher pTNACC score: would this scoring system motivate people to develop networks around their goods and services more? Is that an intrinsically good thing? Does rewarding pTNACC result in positive social outcomes - trust, resilient markets and so on? - We're working with researchers to help determine this.
Voting systems on tax redistribution.
******************************************
@ -84,7 +66,7 @@ Before we get into that: “What is this source of tax redistribution pool?” y
Holding taxes
*******************
Imagine your bank charged you a percentage of your balance every Monday as a holding tax? Well you wouldn’t want to be storing too much money in that account, would you? (n.b. Better calculating and charging for an averaged balance over a time period.) This will create a sort of demurrage effect or hot potato, where people want to move their currency as fast as they can (undesirable to save). Rather than this being a bank function it could be built into the currencies smart contract on a blockchain. Those people who can’t move their CIC and have the most of it - pay more tax (no matter where they put it).
@ -96,6 +78,7 @@ This tax can be redistributed in an near infinite number of ways: 2 such were di
Token Supply
******************
@ -107,23 +90,15 @@ Could we create a network token that was simply distributed fairly to people ove
In this case NTs could be issued and distributed in a similar way to the (G1) Duniter Universal Dividend or Circles UBI– while also being charged a holding tax – from which a percentage can be voted on distribution and a percentage can be algorithmic distribution.
In this case NTs could be issued and distributed in a similar way to the (G1) `Duniter <https://duniter.org/en/>`_ Universal Dividend or `Circles UBI <https://joincircles.net/>`_ – while also being charged a holding tax – from which a percentage can be voted on distribution and a percentage can be algorithmic distribution.
In this case NTs could be issued and distributed in a similar way to the (G1) Duniter Universal Dividend or Circles UBI– while also being charged a holding tax – from which a percentage can be voted on distribution and a percentage can be algorithmic distribution.
In this case NTs could be issued and distributed in a similar way to the (G1) Duniter Universal Dividend or Circles UBI– while also being charged a holding tax – from which a percentage can be voted on distribution and a percentage can be algorithmic distribution.
`Duniter <https://duniter.org/en/>`_ `Circles UBI <https://joincircles.net/>`_
Note that NTs could in turn have their own reserve – this would limit how much could be minted (or put into pools with other types of tokens to act as reserves for CICs). Also this NT could be listed on exchanges that connect it to other tokens world wide.
.. image:: images/blog/currency-supply193.webp
.. image:: images/blog/currency-supply1.webp
@ -132,49 +107,27 @@ CIC network with Sarafu Network Token
What does a decentralized economic currency system look like - when combining all these approaches:
*************************************************************************************************************
(see diagram above)
**1 + 2. Fair distribution and circulation of a network token – which can act like a large scale medium of exchange. A version of the Duniter (G1) Universal Dividend or Circles UBI Smart Contract suffices – but controlling for inflation via taxation. Note that a myriad of NTs can exist and incorporate other rules and still have markets that connect them together. Hence a whole range of NTs and localized systems that use them could form with different local rules and rules that connect them. Note that in the Sarafu Network Token Kenya case, the Sarafu supply is currently voted on by committee - but this will be subject to change in 2021.**
1 + 2. Fair distribution and circulation of a network token – which can act like a large scale medium of exchange. A version of the Duniter (G1) Universal Dividend or Circles UBI Smart Contract suffices – but controlling for inflation via taxation. Note that a myriad of NTs can exist and incorporate other rules and still have markets that connect them together. Hence a whole range of NTs and localized systems that use them could form with different local rules and rules that connect them. Note that in the Sarafu Network Token Kenya case, the Sarafu supply is currently voted on by committee - but this will be subject to change in 2021.
**1 + 2. Fair distribution and circulation of a network token** – which can act like a large scale medium of exchange. A version of the Duniter (G1) Universal Dividend or Circles UBI Smart Contract suffices – but controlling for inflation via taxation. Note that a myriad of NTs can exist and incorporate other rules and still have markets that connect them together. Hence a whole range of NTs and localized systems that use them could form with different local rules and rules that connect them. Note that in the Sarafu Network Token Kenya case, the Sarafu supply is currently voted on by committee - but this will be subject to change in 2021.
1 + 2. Fair distribution and circulation of a network token – which can act like a large scale medium of exchange. A version of the Duniter (G1) Universal Dividend or Circles UBI Smart Contract suffices – but controlling for inflation via taxation. Note that a myriad of NTs can exist and incorporate other rules and still have markets that connect them together. Hence a whole range of NTs and localized systems that use them could form with different local rules and rules that connect them. Note that in the Sarafu Network Token Kenya case, the Sarafu supply is currently voted on by committee - but this will be subject to change in 2021.
**3. Discouraging hoarding:** A holding tax is a simple form of this. Some of this tax can be destroyed to stabilize the monetary mass (supply)
**(1). Rewarding good behaviors via tax redistribution: An algorithmic system that determines good behavior – given this is voted on. This could involve MANY metrics (see SDGs). A voting system that allows users to specifically endorse candidates this could use quadratic and or conviction voting system. Note that we have not yet implemented a voting system yet and use clustering pTNACC as a basis for distributing Sarafu on a weekly basis.**
1 + 2. Fair distribution and circulation of a network token – which can act like a large scale medium of exchange. A version of the Duniter (G1) Universal Dividend or Circles UBI Smart Contract suffices – but controlling for inflation via taxation. Note that a myriad of NTs can exist and incorporate other rules and still have markets that connect them together. Hence a whole range of NTs and localized systems that use them could form with different local rules and rules that connect them. Note that in the Sarafu Network Token Kenya case, the Sarafu supply is currently voted on by committee - but this will be subject to change in 2021.
`Duniter <https://duniter.org/en/>`_ `Circles <https://joincircles.net/>`_ **3. Discouraging hoarding: A holding tax is a simple form of this. Some of this tax can be destroyed to stabilize the monetary mass (supply)**
**(1). Rewarding good behaviors via tax redistribution:** An algorithmic system that determines good behavior – given this is voted on. This could involve MANY metrics (see SDGs). A voting system that allows users to specifically endorse candidates this could use quadratic and or conviction voting system. Note that we have not yet implemented a voting system yet and use clustering pTNACC as a basis for distributing Sarafu on a weekly basis.
3. Discouraging hoarding: A holding tax is a simple form of this. Some of this tax can be destroyed to stabilize the monetary mass (supply)
**4a, 4b. Localized currency creation with connect-ability:** The ability to create credit systems for businesses and community projects and connect them to others: CICs being created using this NT as a reserve – gives people the ability to label tax and leverage the NT to create a promissory note against future production (See`Bancor Protocol <https://support.bancor.network/hc/en-us/sections/360002084771-Whitepaper->`_ for smart contracts here).
**(1). Rewarding good behaviors via tax redistribution: An algorithmic system that determines good behavior – given this is voted on. This could involve MANY metrics (see SDGs). A voting system that allows users to specifically endorse candidates this could use quadratic and or conviction voting system. Note that we have not yet implemented a voting system yet and use clustering pTNACC as a basis for distributing Sarafu on a weekly basis.**
(1). Rewarding good behaviors via tax redistribution: An algorithmic system that determines good behavior – given this is voted on. This could involve MANY metrics (see SDGs). A voting system that allows users to specifically endorse candidates this could use quadratic and or conviction voting system. Note that we have not yet implemented a voting system yet and use clustering pTNACC as a basis for distributing Sarafu on a weekly basis.
**(1). Rewarding good behaviors via tax redistribution: An algorithmic system that determines good behavior – given this is voted on. This could involve MANY metrics (see SDGs). A voting system that allows users to specifically endorse candidates this could use quadratic and or conviction voting system. Note that we have not yet implemented a voting system yet and use clustering pTNACC as a basis for distributing Sarafu on a weekly basis.**
(1). Rewarding good behaviors via tax redistribution: An algorithmic system that determines good behavior – given this is voted on. This could involve MANY metrics (see SDGs). A voting system that allows users to specifically endorse candidates this could use quadratic and or conviction voting system. Note that we have not yet implemented a voting system yet and use clustering pTNACC as a basis for distributing Sarafu on a weekly basis.
**4a, 4b. Localized currency creation with connect-ability: The ability to create credit systems for businesses and community projects and connect them to others: CICs being created using this NT as a reserve – gives people the ability to label tax and leverage the NT to create a promissory note against future production (See Bancor Protocol for smart contracts here).**
4a, 4b. Localized currency creation with connect-ability: The ability to create credit systems for businesses and community projects and connect them to others: CICs being created using this NT as a reserve – gives people the ability to label tax and leverage the NT to create a promissory note against future production (See Bancor Protocol for smart contracts here).
4a, 4b. Localized currency creation with connect-ability: The ability to create credit systems for businesses and community projects and connect them to others: CICs being created using this NT as a reserve – gives people the ability to label tax and leverage the NT to create a promissory note against future production (See Bancor Protocol for smart contracts here).
`Bancor Protocol <https://support.bancor.network/hc/en-us/sections/360002084771-Whitepaper->`_
.. image:: images/blog/currency-supply247.webp
@ -182,21 +135,16 @@ What does a decentralized economic currency system look like - when combining al
Note that many types of tokens can be added to a reserve pool for a CIC (including the possibility of Carbon credits, Stable coins and so on). Also note that a CIC need not have any reserve if there is no exchange between other CICs. In which case a CIC is simply a promissory note against future production. Localized CIC creation was available in in 2019 and has been put on hold for all of 2020 and will reopen with some modifications (namely to the target reserve ratio being 100% hence no leverage) in January 2021!
**5. Connected CIC and Price stabilization: Finally we want labor and commodity price stabilization for the NT as well as the CICs. Given the ability to fix the supply of each – prices of goods and services can stabilize by virtue of arbitrage between markets of CICs themselves. Note that less than 100% target reserve ratios will be added back over time based on standard development and regulatory compliance for custodial systems - non custodial systems can have a lot more freedom..**
5. Connected CIC and Price stabilization: Finally we want labor and commodity price stabilization for the NT as well as the CICs. Given the ability to fix the supply of each – prices of goods and services can stabilize by virtue of arbitrage between markets of CICs themselves. Note that less than 100% target reserve ratios will be added back over time based on standard development and regulatory compliance for custodial systems - non custodial systems can have a lot more freedom..
**5. Connected CIC and Price stabilization:** Finally we want labor and commodity price stabilization for the NT as well as the CICs. Given the ability to fix the supply of each – prices of goods and services can stabilize by virtue of arbitrage between markets of CICs themselves. Note that less than 100% target reserve ratios will be added back over time based on standard development and regulatory compliance for custodial systems - non custodial systems can have a lot more freedom..
All these concept and conjectures could use a lot of testing, modeling and token engineering. If interested please contact us wherever you are!
All these concept and conjectures could use a lot of testing, modeling and token engineering. If interested please `contact <https://www.grassrootseconomics.org/contact>`_ us wherever you are!
All these concept and conjectures could use a lot of testing, modeling and token engineering. If interested please contact us wherever you are!
`contact <https://www.grassrootseconomics.org/contact>`_ * A very sadly unfinished cadCAD model was created by BlockScience here - but it is a good robust framework to get started.
`here <https://gitlab.com/grassrootseconomics/cic-modeling>`_ * You can also watch me playing with simpler models at the Village Market Simulator series here.
`here <https://www.youtube.com/playlist?list=PLPUExzwZAUpbEInJy_8Wj_c_mDsw7-qXe>`_ * Our open source code is all on GitLab is here.
`here <https://gitlab.com/grassrootseconomics/cic-docs>`_ * Field Datasets can be found here.
`here <http://grassecon.org/research>`_
* A very sadly unfinished cadCAD model was created by `BlockScience <https://gitlab.com/grassrootseconomics/cic-modeling>`_ - but it is a good robust framework to get started.
* You can also watch me playing with simpler models at the `Vilage market simulator <https://www.youtube.com/playlist?list=PLPUExzwZAUpbEInJy_8Wj_c_mDsw7-qXe>`_ series.
* Our `open source code <https://gitlab.com/grassrootseconomics/cic-docs>`_ is all on GitLab is here.
* Field Datasets can be found `here <http://grassecon.org/research>`_.

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.. image:: images/blog/demystifying-currency18.webp
.. image:: images/blog/demystifying-currency1.webp
@ -20,925 +20,88 @@ This cycle of spending and redeeming goat tokens could go on and on for years. T
This kind of community-level credit creation can be a lifesaver when national currency is in short supply. Using goats themselves as a currency is actually a useful strategy, "We enable smallholder rural, off-grid farming communities to meet their farming and household needs using livestock as currency" - Uptrade.
This kind of community-level credit creation can be a lifesaver when national currency is in short supply. Using goats themselves as a currency is actually a useful strategy, "We enable smallholder rural, off-grid farming communities to meet their farming and household needs using livestock as currency" - `Uptrade. <https://uptrade.org/>`_.
We enable smallholder rural, off-grid farming communities to meet their farming and household needs using livestock as currency" -
`Uptrade. <https://uptrade.org/>`_ **Let’s look at how it works, and how to to address the risks.
**Let’s look at how it works, and how to to address the risks.**
In a community, a group can come together and decide on the assets they will use to back their community currency collectively, e.g. goats + grapes + corn. Then they can issue a credit to everyone in the group - this is sometimes called a mutual credit. A municipality may create credits this same way and back them with public transport usage and acceptance for taxes.
but
Who is keeping track of how many goats there are and are ready to sell?
**Who is keeping track of how many goats there are and are ready to sell?**
What if some of the goats are killed by a lion or die from a disease and the goat herd is decimated? In fact, the goat herder never had 100 mature goats to begin with - the goat tokens were a promise against future (mature) goat production. If the backing of goats becomes unstable then a lot of people could be left with goat tokens they can't redeem. What if there is a run on the 'bank' and everyone wants goats at once? We’ll get to how to solve this in a moment.**
Let’s look at how it works, and how to to address the risks.
In a community, a group can come together and decide on the assets they will use to back their community currency collectively, e.g. goats + grapes + corn. Then they can issue a credit to everyone in the group - this is sometimes called a mutual credit. A municipality may create credits this same way and back them with public transport usage and acceptance for taxes.
but
Who is keeping track of how many goats there are and are ready to sell?
What if some of the goats are killed by a lion or die from a disease and the goat herd is decimated? In fact, the goat herder never had 100 mature goats to begin with - the goat tokens were a promise against future (mature) goat production. If the backing of goats becomes unstable then a lot of people could be left with goat tokens they can't redeem. What if there is a run on the 'bank' and everyone wants goats at once? We’ll get to how to solve this in a moment.
**Let’s look at how it works, and how to to address the risks.
In a community, a group can come together and decide on the assets they will use to back their community currency collectively, e.g. goats + grapes + corn. Then they can issue a credit to everyone in the group - this is sometimes called a mutual credit. A municipality may create credits this same way and back them with public transport usage and acceptance for taxes.
but
Who is keeping track of how many goats there are and are ready to sell?
What if some of the goats are killed by a lion or die from a disease and the goat herd is decimated? In fact, the goat herder never had 100 mature goats to begin with - the goat tokens were a promise against future (mature) goat production. If the backing of goats becomes unstable then a lot of people could be left with goat tokens they can't redeem. What if there is a run on the 'bank' and everyone wants goats at once? We’ll get to how to solve this in a moment.**
Let’s look at how it works, and how to to address the risks.
In a community, a group can come together and decide on the assets they will use to back their community currency collectively, e.g. goats + grapes + corn. Then they can issue a credit to everyone in the group - this is sometimes called a mutual credit. A municipality may create credits this same way and back them with public transport usage and acceptance for taxes.
but
Who is keeping track of how many goats there are and are ready to sell?
What if some of the goats are killed by a lion or die from a disease and the goat herd is decimated? In fact, the goat herder never had 100 mature goats to begin with - the goat tokens were a promise against future (mature) goat production. If the backing of goats becomes unstable then a lot of people could be left with goat tokens they can't redeem. What if there is a run on the 'bank' and everyone wants goats at once? We’ll get to how to solve this in a moment.
but What if the goat herder wanted to allow other people to make those goat tokens? The reason this might be attractive to the goat herder is that if someone were to ADD a goat to his herd and breed with the other goats then over time it would produce more goats. What is that worth? Since the goat herder is the one establishing the value at 100 tokens = 1 goat, adding a goat to the goat reserve should create $100 dollars more of goat tokens (100 goat tokens).
**but What if the goat herder wanted to allow other people to make those goat tokens? The reason this might be attractive to the goat herder is that if someone were to ADD a goat to his herd and breed with the other goats then over time it would produce more goats. What is that worth? Since the goat herder is the one establishing the value at 100 tokens = 1 goat, adding a goat to the goat reserve should create $100 dollars more of goat tokens (100 goat tokens).**
but What if the goat herder wanted to allow other people to make those goat tokens? The reason this might be attractive to the goat herder is that if someone were to ADD a goat to his herd and breed with the other goats then over time it would produce more goats. What is that worth? Since the goat herder is the one establishing the value at 100 tokens = 1 goat, adding a goat to the goat reserve should create $100 dollars more of goat tokens (100 goat tokens).
but **What if the goat herder wanted to allow other people to make those goat tokens?** The reason this might be attractive to the goat herder is that if someone were to ADD a goat to his herd and breed with the other goats then over time it would produce more goats. What is that worth? Since the goat herder is the one establishing the value at 100 tokens = 1 goat, adding a goat to the goat reserve should create $100 dollars more of goat tokens (100 goat tokens).
and
What if the goat herder wants to trade with the cereals shop in town?
**What if the goat herder wants to trade with the cereals shop in town?**
Well, let’s say the cereals shop owner doesn't want goats at all. Would she accept these tokens? If she could spend the tokens on other things she needed like labor and cereal distributors then perhaps she could accept 'some', but anyone accepting them would need at some point to have some trust in the goat token issuer.
so
Reserves to de-risk
**Reserves to de-risk**
Seeing this problem of lack of trust in his goat tokens, the herder decides to put up some collateral in national currency (it could be any common reserve token if one exists for that region). The goat herder feels so strongly that he will accept back the tokens for goats that in order to build confidence in people he takes $1,000 dollars it up into a contract on a blockchain (using his feature phone). That means anyone who has goat tokens can trade their tokens for national currency without any middleman. Plus, if anyone adds to the reserve of dollars they can create more goat tokens.
Now the goat herder has promises of goats as backing for his tokens as well as some collateral in national dollars. If he ends up with all the tokens again by selling goats he can simply cash out those vouchers to get back his reserve. Doing this on a public blockchain means that anyone can see the backing for his tokens now in dollars (or any reserve token such as xDAI). That helps with the tracking problem and the backing problem - both good for trust.
**and
and
What if the goat herder wants to trade with the cereals shop in town?
Well, let’s say the cereals shop owner doesn't want goats at all. Would she accept these tokens? If she could spend the tokens on other things she needed like labor and cereal distributors then perhaps she could accept 'some', but anyone accepting them would need at some point to have some trust in the goat token issuer.
so
Reserves to de-risk
**Reserves to de-risk**
Seeing this problem of lack of trust in his goat tokens, the herder decides to put up some collateral in national currency (it could be any common reserve token if one exists for that region). The goat herder feels so strongly that he will accept back the tokens for goats that in order to build confidence in people he takes $1,000 dollars it up into a contract on a blockchain (using his feature phone). That means anyone who has goat tokens can trade their tokens for national currency without any middleman. Plus, if anyone adds to the reserve of dollars they can create more goat tokens.
Now the goat herder has promises of goats as backing for his tokens as well as some collateral in national dollars. If he ends up with all the tokens again by selling goats he can simply cash out those vouchers to get back his reserve. Doing this on a public blockchain means that anyone can see the backing for his tokens now in dollars (or any reserve token such as xDAI). That helps with the tracking problem and the backing problem - both good for trust.**
and
What if the goat herder wants to trade with the cereals shop in town?
Well, let’s say the cereals shop owner doesn't want goats at all. Would she accept these tokens? If she could spend the tokens on other things she needed like labor and cereal distributors then perhaps she could accept 'some', but anyone accepting them would need at some point to have some trust in the goat token issuer.
so
Reserves to de-risk
Seeing this problem of lack of trust in his goat tokens, the herder decides to put up some collateral in national currency (it could be any common reserve token if one exists for that region). The goat herder feels so strongly that he will accept back the tokens for goats that in order to build confidence in people he takes $1,000 dollars it up into a contract on a blockchain (using his feature phone). That means anyone who has goat tokens can trade their tokens for national currency without any middleman. Plus, if anyone adds to the reserve of dollars they can create more goat tokens.
Now the goat herder has promises of goats as backing for his tokens as well as some collateral in national dollars. If he ends up with all the tokens again by selling goats he can simply cash out those vouchers to get back his reserve. Doing this on a public blockchain means that anyone can see the backing for his tokens now in dollars (or any reserve token such as xDAI). That helps with the tracking problem and the backing problem - both good for trust.
**and
What if the goat herder wants to trade with the cereals shop in town?
Well, let’s say the cereals shop owner doesn't want goats at all. Would she accept these tokens? If she could spend the tokens on other things she needed like labor and cereal distributors then perhaps she could accept 'some', but anyone accepting them would need at some point to have some trust in the goat token issuer.
so
Reserves to de-risk
Seeing this problem of lack of trust in his goat tokens, the herder decides to put up some collateral in national currency (it could be any common reserve token if one exists for that region). The goat herder feels so strongly that he will accept back the tokens for goats that in order to build confidence in people he takes $1,000 dollars it up into a contract on a blockchain (using his feature phone). That means anyone who has goat tokens can trade their tokens for national currency without any middleman. Plus, if anyone adds to the reserve of dollars they can create more goat tokens.
Now the goat herder has promises of goats as backing for his tokens as well as some collateral in national dollars. If he ends up with all the tokens again by selling goats he can simply cash out those vouchers to get back his reserve. Doing this on a public blockchain means that anyone can see the backing for his tokens now in dollars (or any reserve token such as xDAI). That helps with the tracking problem and the backing problem - both good for trust.**
and
What if the goat herder wants to trade with the cereals shop in town?
Well, let’s say the cereals shop owner doesn't want goats at all. Would she accept these tokens? If she could spend the tokens on other things she needed like labor and cereal distributors then perhaps she could accept 'some', but anyone accepting them would need at some point to have some trust in the goat token issuer.
so
Reserves to de-risk
Seeing this problem of lack of trust in his goat tokens, the herder decides to put up some collateral in national currency (it could be any common reserve token if one exists for that region). The goat herder feels so strongly that he will accept back the tokens for goats that in order to build confidence in people he takes $1,000 dollars it up into a contract on a blockchain (using his feature phone). That means anyone who has goat tokens can trade their tokens for national currency without any middleman. Plus, if anyone adds to the reserve of dollars they can create more goat tokens.
Now the goat herder has promises of goats as backing for his tokens as well as some collateral in national dollars. If he ends up with all the tokens again by selling goats he can simply cash out those vouchers to get back his reserve. Doing this on a public blockchain means that anyone can see the backing for his tokens now in dollars (or any reserve token such as xDAI). That helps with the tracking problem and the backing problem - both good for trust.
**Target reserve ratio (TRR)
**Target reserve ratio (TRR)**
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.**
**Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.**
**Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
**Shares of an asset**
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.**
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
**Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.**
**Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.**
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
Target reserve ratio (TRR)
The Target Reserve Ratio is the point at which the contract on the blockchain will give $1 of reserve dollars for 1 goat token. When the herder creates his reserve of dollars on the blockchain he fixes a Target Reserve Ratio. The higher the TRR, the more stable the price of the token will be. Let's say he chooses 10% for his TRR. This would mean that when there are $1,000 dollars in reserve and a total supply of 10,000 goat tokens, the value of those tokens will be 1 token = $1 dollar. Another term for the contract that shows the relationship between the value of dollars and the value of goat tokens is the bonding curve.
Shares of an asset
Using this bonding curve means that as reserve is added (+) the value of the goat tokens will go up compared to the dollar reserve.
As tokens are destroyed and reserve is pulled out (-) the value of the remaining goat tokens will go down compared to the dollar reserve.
**ratio**
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**Primary Market
**Primary Market**
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
**Secondary Market**
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
**More Currencies, More Resilience**
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
**Risks**
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.**
Primary Market
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.
**Primary Market
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.**
Primary Market
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.
**Primary Market
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.**
Primary Market
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.
**Primary Market
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.**
Primary Market
The goat herder creates a primary market around his goats by spending and redeeming tokens. He keeps the value of his goat tokens stable by backing them over time with his goats. His token is stable over time for as long as he redeems the tokens and people want the goats. Primary markets are important because they determine the base value of goods and establish a value for the tokens.
Secondary Market
What happens If the value of the goat tokens drops (-) below a dollar because people at the cereals shop are cashing them out for reserve? Then it becomes even more attractive for people who want to buy goats. Anyone who wants goats could also add reserves cheaply in order to claim them for goats later. The issuer (the goat herder) could also add national currency to the reserve (the secondary market on the blockchain) and create more tokens to pay for more labor.
The primary market forms the basis for value on the secondary market. As the secondary market value goes up (+) more people will cash out the tokens for dollars. The more it drops (-) the more people will cheaply buy tokens to get goats.
More Currencies, More Resilience
Because the herder has added a reserve to his token, it means that his token will automatically have value against other tokens with the same or connected reserves. This means that anyone in the world could accept the herder’s credit (tokens) because they can always see the reserve on the blockchain behind it. They can convert it to the reserve and also put that reserve into their own tokens.
Risks
The inherent risk in trusting any single issuer of a currency is that they will no longer be able to, or just stop, reclaiming the tokens for goats (or goods or services - whatever is backing the currency). (This is akin to a bank run). By adding collateral to a reserve, a secondary market can reduce risk and build trust. It can also enable many credit systems to connect together into larger economies. We’ve seen this build stable markets that allow communities to trade their goods and services with a much wider population.
The risks of using tokens with on-chain collateral are easily measurable based on the size of the reserve, the trade on the network, and the target reserve ratio. In contrast, the risk of accepting a token that’s only backed by physical goats requires that I both want a goat (or I know others that do) and trust that the promised goats will be around.
Takeaway
**Takeaway**
Credit creation can be regulated and de-risked in a whole new way, where anyone could potentially issue their own credit. A network of such credit issuers and users can form a decentralized economy, which is more resilient to crisis. This is what Grassroots Economics is doing with partners like the Red Cross.
The technology is now open source and we encourage replication and development. You can see more of the impact in Kenya here with nearly 100K USD trading on the networks monthly. We hope to open this secondary market up for anyone to contribute in the next two months.
**Takeaway
Credit creation can be regulated and de-risked in a whole new way, where anyone could potentially issue their own credit. A network of such credit issuers and users can form a decentralized economy, which is more resilient to crisis. This is what Grassroots Economics is doing with partners like the Red Cross.
The technology is now open source and we encourage replication and development. You can see more of the impact in Kenya here with nearly 100K USD trading on the networks monthly. We hope to open this secondary market up for anyone to contribute in the next two months.**
The technology is now open source and we encourage replication and development. You can see more of the impact in Kenya `here with nearly 100K USD trading on the networks monthly <https://www.grassrootseconomics.org/post/crisis-supply-chains>`_ trading on the networks monthly. We hope to open this secondary market up for anyone to contribute in the next two months.**
Takeaway
Credit creation can be regulated and de-risked in a whole new way, where anyone could potentially issue their own credit. A network of such credit issuers and users can form a decentralized economy, which is more resilient to crisis. This is what Grassroots Economics is doing with partners like the Red Cross.
The technology is now open source and we encourage replication and development. You can see more of the impact in Kenya here with nearly 100K USD trading on the networks monthly. We hope to open this secondary market up for anyone to contribute in the next two months.
Takeaway
Credit creation can be regulated and de-risked in a whole new way, where anyone could potentially issue their own credit. A network of such credit issuers and users can form a decentralized economy, which is more resilient to crisis. This is what Grassroots Economics is doing with partners like the Red Cross.
The technology is now open source and we encourage replication and development. You can see more of the impact in Kenya here with nearly 100K USD trading on the networks monthly. We hope to open this secondary market up for anyone to contribute in the next two months.
`here with nearly 100K USD trading on the networks monthly <https://www.grassrootseconomics.org/post/crisis-supply-chains>`_
Timely: How this impacts aid and COVID-19
**Timely: How this impacts aid and COVID-19**
What if instead of goats, a non-profit created a primary market of credit with donor funds to bolster local food security and health? The secondary market on the blockchain allows anyone in the world to add reserve (liquidity) and give more value to these tokens. It’s a way to multiply donor funds and allow locals like the goat herder to buy and sell the goods they need. At a time when international and national markets are collapsing, tools that allow people at the local level to trade needed goods and services without national currency is critical.
How can I do it?
**How can I do it?**
https://katanapools.com/ is a site where you can use the Bancor protocol to create a goat token or any other and add one or multiple reserves to it on the Ethereum blockchain. More in this Medium article.
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf.
**Timely: How this impacts aid and COVID-19
What if instead of goats, a non-profit created a primary market of credit with donor funds to bolster local food security and health? The secondary market on the blockchain allows anyone in the world to add reserve (liquidity) and give more value to these tokens. It’s a way to multiply donor funds and allow locals like the goat herder to buy and sell the goods they need. At a time when international and national markets are collapsing, tools that allow people at the local level to trade needed goods and services without national currency is critical.
How can I do it?
https://katanapools.com/ is a site where you can use the Bancor protocol to create a goat token or any other and add one or multiple reserves to it on the Ethereum blockchain. More in this Medium article.
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf**
Timely: How this impacts aid and COVID-19
What if instead of goats, a non-profit created a primary market of credit with donor funds to bolster local food security and health? The secondary market on the blockchain allows anyone in the world to add reserve (liquidity) and give more value to these tokens. It’s a way to multiply donor funds and allow locals like the goat herder to buy and sell the goods they need. At a time when international and national markets are collapsing, tools that allow people at the local level to trade needed goods and services without national currency is critical.
How can I do it?
https://katanapools.com/ is a site where you can use the Bancor protocol to create a goat token or any other and add one or multiple reserves to it on the Ethereum blockchain. More in this Medium article.
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf
**Timely: How this impacts aid and COVID-19
What if instead of goats, a non-profit created a primary market of credit with donor funds to bolster local food security and health? The secondary market on the blockchain allows anyone in the world to add reserve (liquidity) and give more value to these tokens. It’s a way to multiply donor funds and allow locals like the goat herder to buy and sell the goods they need. At a time when international and national markets are collapsing, tools that allow people at the local level to trade needed goods and services without national currency is critical.
How can I do it?
https://katanapools.com/ is a site where you can use the Bancor protocol to create a goat token or any other and add one or multiple reserves to it on the Ethereum blockchain. More in this Medium article.
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf**
Timely: How this impacts aid and COVID-19
What if instead of goats, a non-profit created a primary market of credit with donor funds to bolster local food security and health? The secondary market on the blockchain allows anyone in the world to add reserve (liquidity) and give more value to these tokens. It’s a way to multiply donor funds and allow locals like the goat herder to buy and sell the goods they need. At a time when international and national markets are collapsing, tools that allow people at the local level to trade needed goods and services without national currency is critical.
How can I do it?
https://katanapools.com/ is a site where you can use the Bancor protocol to create a goat token or any other and add one or multiple reserves to it on the Ethereum blockchain. More in this Medium article.
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf
Timely: How this impacts aid and COVID-19
What if instead of goats, a non-profit created a primary market of credit with donor funds to bolster local food security and health? The secondary market on the blockchain allows anyone in the world to add reserve (liquidity) and give more value to these tokens. It’s a way to multiply donor funds and allow locals like the goat herder to buy and sell the goods they need. At a time when international and national markets are collapsing, tools that allow people at the local level to trade needed goods and services without national currency is critical.
How can I do it?
https://katanapools.com/ is a site where you can use the Bancor protocol to create a goat token or any other and add one or multiple reserves to it on the Ethereum blockchain. More in this Medium article.
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf
Timely: How this impacts aid and COVID-19
What if instead of goats, a non-profit created a primary market of credit with donor funds to bolster local food security and health? The secondary market on the blockchain allows anyone in the world to add reserve (liquidity) and give more value to these tokens. It’s a way to multiply donor funds and allow locals like the goat herder to buy and sell the goods they need. At a time when international and national markets are collapsing, tools that allow people at the local level to trade needed goods and services without national currency is critical.
How can I do it?
https://katanapools.com/ is a site where you can use the Bancor protocol to create a goat token or any other and add one or multiple reserves to it on the Ethereum blockchain. More in this Medium article.
All the code to create and trade these types of tokens is open source. To understand the bonding curves we use,read the open source Bancor Protocol whitepaper: https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf
`https://katanapools.com/ <https://katanapools.com/>`_ `https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf <https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf>`_ **How can I support?
Turning these open source infrastructures into something anyone in the world can use is our priority. We are racing to address the widespread impact of COVID-19 on people’s income, food security, and health. Funding to bring on more developers and to do more pilots and help communities right now is what we need. Please contact us if you would like to take part.**
How can I support?
**How can I support?**
Turning these open source infrastructures into something anyone in the world can use is our priority. We are racing to address the widespread impact of COVID-19 on people’s income, food security, and health. Funding to bring on more developers and to do more pilots and help communities right now is what we need. Please contact us if you would like to take part.

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@ -8,41 +8,21 @@
.. image:: images/blog/detergent-accelerator18.webp
.. image:: images/blog/detergent-accelerator1.webp
Julius Nyelele has been a member of Lindi Business Network for more than one year. He is a roadside seller of washing detergents and body jelly. He says that, at first he never understood the concept behind community currency, but later when he actively started using Sarafu-Credit he got more customers who are part of the Business Network. He has been selling most of his products along the road since he didn’t have a place to store his products, but currently he has a host of ready customers who are part of the business network that always purchase his products using Kenya Shillings and Sarafu-Credit (Community currency). He says that his products are always first moving now and that’s increasing his sales and savings. He is also starting to use the community super market space to store his products and has expanded his business to selling larger quantities.
Julius is benefiting from increased connection among the members and businesses of his community. By virtue of hundreds of shops receiving an interest free credit to use among each-other in an area overall efficiency greatly increases. Instead of waiting on Kenyan Shillings to make a purchase, members of these networks can trade using credit that is readily available. These networks also develop assets, like supermarket stock, that backs the credits (community currency) in case of defaults and to grow the credit supply.
#detergent #bodyoil #businessaccelerator
`#detergent <https://www.grassrootseconomics.org/blog/hashtags/detergent>`_ `#bodyoil <https://www.grassrootseconomics.org/blog/hashtags/bodyoil>`_ `#businessaccelerator <https://www.grassrootseconomics.org/blog/hashtags/businessaccelerator>`_
#detergent #bodyoil #businessaccelerator
`#detergent <https://www.grassrootseconomics.org/blog/hashtags/detergent>`_
#detergent
`#bodyoil <https://www.grassrootseconomics.org/blog/hashtags/bodyoil>`_
#bodyoil
`#businessaccelerator <https://www.grassrootseconomics.org/blog/hashtags/businessaccelerator>`_
#businessaccelerator

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@ -12,102 +12,63 @@ Grassroots Economics Foundation has been at the forefront of empowering bottom-o
It started with 75 businesses in Kongowea (Mombasa) launching Eco Pesa as the first local currency in 2010, then Bangla-Pesa in Mikindani-Mombasa-Kenya, which the locals embraced. To-date, community members have been using it as a Community Currency to pay for goods and services enriching their daily lives.
.. image:: images/blog/disrupting-currencies30.webp
.. image:: images/blog/disrupting-currencies1.webp
Will Rúddick the pioneer of community currencies in Kenya, listening at a strategic planning session.
*Will Rúddick the pioneer of community currencies in Kenya, listening at a strategic planning session.*
*Will Rúddick the pioneer of community currencies in Kenya, listening at a strategic planning session.*
This project, which started with an aim to reduce economic instability in marginalize communities has seen people and businesses increase local trade by providing a complementary means of payment where the national currency is scarce. This reduces debts as CCs become a spending currency while the Kenyan shilling, becomes a tool for saving. In Nairobi, more than 1000 small businesses take an active role in their own economic development in this way. This has led to a 17% increase in local jobs creation and 37% growth in sales revenue through the frequent transactions that happen in these Sarafu-Credit locales.
This project, which started with an aim to reduce economic instability in marginalize communities has seen people and businesses increase local trade by providing a complementary means of payment where the national currency is scarce. This reduces debts as CCs become a spending currency while the Kenyan shilling, becomes a tool for saving. In Nairobi, more than 1000 small businesses take an active role in their own economic development in this way. This has led to a 17% increase in local jobs creation and 37% growth in sales revenue through the frequent transactions that happen in these ` Sarafu-Credit locales. <http://www.grassrootseconomics.org/community-currencies>`_.
This project, which started with an aim to reduce economic instability in marginalize communities has seen people and businesses increase local trade by providing a complementary means of payment where the national currency is scarce. This reduces debts as CCs become a spending currency while the Kenyan shilling, becomes a tool for saving. In Nairobi, more than 1000 small businesses take an active role in their own economic development in this way. This has led to a 17% increase in local jobs creation and 37% growth in sales revenue through the frequent transactions that happen in these Sarafu-Credit locales.
` Sarafu-Credit locales. <http://www.grassrootseconomics.org/community-currencies>`_
.. image:: images/blog/disrupting-currencies57.webp
The good news about this is that Sarafu-Credit users in these communities, no longer depend on their income or wages as the only way to cater for their daily needs. They can now depend on each other and use local currencies to buy food like fruits, vegetables, snacks and access services like tailoring, hairdressing and getting rid of waste materials dumped within the community.
Community Currencies in the Sarafu Network like Gatina Pesa in Kawangware connect underutilized work forces with unused resources to create local industries that guarantee the provision of basic needs.
So, how do people in the Network use `Sarafu-Credit? <http://www.grassrootseconomics.org/media>`_
So, how do people in the Network use Sarafu-Credit?
`Sarafu-Credit? <http://www.grassrootseconomics.org/media>`_
.. image:: images/blog/disrupting-currencies92.webp
*Sarafu-Credit users in Gatina, Kawangware*
*Sarafu-Credit users in Gatina, Kawangware*
Sarafu-Credit users get to access goods and services from sellers who accept the CCs, creating a network of traders who unite the different areas and hence uplifting the economy of that community.
Besides, traders using Sarafu-Credit as an alternative economic system and supplementing the inadequate national currency, they are also achieving SDGs goals themselves in vulnerable communities. For example, Sarafu has a direct impact on; food security, decent work, sustainable communities and economic growth.
**Design and cultural symbolism of community currency.**
**Design and cultural symbolism of community currency.**
@ -115,17 +76,11 @@ Sarafu-Credit is created using cryptocurrencies and also is printed on high-qual
What to note is, the implementation of CCs system in Kenya, is an innovative way of improve living standards, as it also protects and advances Sustainable Development Goals (SDGs).
SDG’s can be tied to community currencies, whereby for instance, farmers could be linked directly with urban consumers by using a local currency, enhancing food security.
@ -137,7 +92,7 @@ SDG’s can be tied to community currencies, whereby for instance, farmers coul
*The Chief Operating Officer of Grassroots Economics, Emanuel Dominic delivering a presentation on community currencies.*
*The Chief Operating Officer of Grassroots Economics, Emanuel Dominic delivering a presentation on community currencies.*
@ -147,14 +102,9 @@ SDG’s can be tied to community currencies, whereby for instance, farmers coul
Community events like the one in the photo below in Nairobi and Mombasa target community members who are new to the concept of community currencies and the longtime users who will be recognized for their knowledge/progress as Sarafu-Credit users and ability to take charge of their lives.
.. image:: images/blog/disrupting-currencies171.webp
*A Sarafu-Credit user from Lindi, Kibera.*
*A Sarafu-Credit user from Lindi, Kibera.*
@ -165,54 +115,12 @@ This is an open day dedicated to community sharing, networking, educating and tr
For future updates; Subscribe to our newsletter (link to newsletter) and like our social media platforms.
Use the hashtag #sarafucredit #lindipesa #complementarycommunitycurrency #Economics4Change to join the conversation.
Use the hashtag #sarafucredit #lindipesa #complementarycommunitycurrency #Economics4Change to join the conversation.
Use the hashtag #sarafucredit #lindipesa #complementarycommunitycurrency #Economics4Change to join the conversation.
Use the hashtag #sarafucredit #lindipesa #complementarycommunitycurrency #Economics4Change to join the conversation.
Use the hashtag #sarafucredit #lindipesa #complementarycommunitycurrency #Economics4Change to join the conversation.
`#sarafucredit <https://www.grassrootseconomics.org/blog/hashtags/sarafucredit>`_
#sarafucredit
`#lindipesa <https://www.grassrootseconomics.org/blog/hashtags/lindipesa>`_
#lindipesa
`#complementarycommunitycurrency <https://www.grassrootseconomics.org/blog/hashtags/complementarycommunitycurrency>`_
#complementarycommunitycurrency
`#Economics4Change <https://www.grassrootseconomics.org/blog/hashtags/Economics4Change>`_
#Economics4Change
Use the hashtag `#sarafucredit <https://www.grassrootseconomics.org/blog/hashtags/sarafucredit>`_ `#lindipesa <https://www.grassrootseconomics.org/blog/hashtags/lindipesa>`_ `#complementarycommunitycurrency <https://www.grassrootseconomics.org/blog/hashtags/complementarycommunitycurrency>`_ `#Economics4Change <https://www.grassrootseconomics.org/blog/hashtags/Economics4Change>`_ to join the conversation.
@ -220,35 +128,3 @@ Use the hashtag #sarafucredit #lindipesa #complementarycommunitycurrency #Econom
#sarafucredit #lindipesa #Economics4change #complementarycommunitycurrency #SarafuCredit
#sarafucredit #lindipesa #Economics4change #complementarycommunitycurrency #SarafuCredit
#sarafucredit #lindipesa #Economics4change #complementarycommunitycurrency #SarafuCredit
#sarafucredit #lindipesa #Economics4change #complementarycommunitycurrency #SarafuCredit
`#sarafucredit <https://www.grassrootseconomics.org/blog/hashtags/sarafucredit>`_
#sarafucredit
`#lindipesa <https://www.grassrootseconomics.org/blog/hashtags/lindipesa>`_
#lindipesa
`#Economics4change <https://www.grassrootseconomics.org/blog/hashtags/Economics4change>`_
#Economics4change
`#complementarycommunitycurrency <https://www.grassrootseconomics.org/blog/hashtags/complementarycommunitycurrency>`_
#complementarycommunitycurrency
`#SarafuCredit <https://www.grassrootseconomics.org/blog/hashtags/SarafuCredit>`_
#SarafuCredit

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@ -3,13 +3,12 @@
:date: Dec 25, 2019
:slug: economies-into
:summary: The reserve behind these tokens, the actual aid funding, was about $2.5k USD).
This means that $2,500 USD of Aid funds created 10,000 tokens
:summary: The reserve behind these tokens, the actual aid funding, was about $2.5k USD).This means that $2,500 USD of Aid funds created 10,000 tokens
.. image:: images/blog/economies-into18.webp
.. image:: images/blog/economies-into1.webp
@ -37,86 +36,20 @@ This means that $2,500 USD of Aid funds created 10,000 tokens (CICs) which were
What is exciting about CICs is that any community could decide to take some capital and treat it as a commons and leverage it into a local credit system – and integrate with other credit systems. Those 1,877 users above are using 3 distinct Community Inclusion Currencies backed by different groups of businesses and their own reserves.
**So how did these 3 currencies get started in the Mnyenzeni area of Kenya? Reserves in Kenyan Shillings were added by donors and the CICs were minted based on that collateral. The Chief, elders, and women’s groups all came together for training from other communities already using CICs and began using a feature phone-based (button phone = no need for internet or smart phone) platform to trade with each other, each having received an air-drop of 400 CICs (worth about $4 USD). Here in Kenya the injection of seed capital from Humanitarian Aid into the reserves of these systems is the jump start (bootstrap) that gets everyone involved and builds trust in the system. Most importantly the marketplace starts with a few groups (mostly savings and loan women’s groups) and foundational businesses or cooperatives that agree to accepting CICs. They give users a reason to continually refill the reserve and increase the value of the CICs.**
So how did these 3 currencies get started in the Mnyenzeni area of Kenya? Reserves in Kenyan Shillings were added by donors and the CICs were minted based on that collateral. The Chief, elders, and women’s groups all came together for training from other communities already using CICs and began using a feature phone-based (button phone = no need for internet or smart phone) platform to trade with each other, each having received an air-drop of 400 CICs (worth about $4 USD). Here in Kenya the injection of seed capital from Humanitarian Aid into the reserves of these systems is the jump start (bootstrap) that gets everyone involved and builds trust in the system. Most importantly the marketplace starts with a few groups (mostly savings and loan women’s groups) and foundational businesses or cooperatives that agree to accepting CICs. They give users a reason to continually refill the reserve and increase the value of the CICs.
**So how did these 3 currencies get started in the Mnyenzeni area of Kenya?** Reserves in Kenyan Shillings were added by donors and the CICs were minted based on that collateral. The Chief, elders, and women’s groups all came together for training from other communities already using CICs and began using a feature phone-based (button phone = no need for internet or smart phone) platform to trade with each other, each having received an air-drop of 400 CICs (worth about $4 USD). Here in Kenya the injection of seed capital from Humanitarian Aid into the reserves of these systems is the jump start (bootstrap) that gets everyone involved and builds trust in the system. Most importantly the marketplace starts with a few groups (mostly savings and loan women’s groups) and foundational businesses or cooperatives that agree to accepting CICs. They give users a reason to continually refill the reserve and increase the value of the CICs.
What most excites me about 2020 is that these tools are being piloted and made available on an `open source platform <http://github.com/teamsempo>`_ platform and could be available via Red Cross worldwide in the next few years. This means a lot for humanitarian aid, for poverty and for humanity.
What most excites me about 2020 is that these tools are being piloted and made available on an open source platform and could be available via Red Cross worldwide in the next few years. This means a lot for humanitarian aid, for poverty and for humanity.
`#RedCross <https://www.grassrootseconomics.org/blog/hashtags/RedCross>`_ `#Sempo <https://www.grassrootseconomics.org/blog/hashtags/Sempo>`_ `#CICs <https://www.grassrootseconomics.org/blog/hashtags/CICs>`_ `#HimanitarianAid <https://www.grassrootseconomics.org/blog/hashtags/HimanitarianAid>`_ `#Kenya <https://www.grassrootseconomics.org/blog/hashtags/Kenya>`_ `#Economies <https://www.grassrootseconomics.org/blog/hashtags/Economies>`_ `#Ecosystems <https://www.grassrootseconomics.org/blog/hashtags/Ecosystems>`_
What most excites me about 2020 is that these tools are being piloted and made available on an open source platform and could be available via Red Cross worldwide in the next few years. This means a lot for humanitarian aid, for poverty and for humanity.
What most excites me about 2020 is that these tools are being piloted and made available on an open source platform and could be available via Red Cross worldwide in the next few years. This means a lot for humanitarian aid, for poverty and for humanity.
` open source platform <http://github.com/teamsempo>`_
#RedCross #Sempo #CICs #HimanitarianAid #Kenya #Economies #Ecosystems
#RedCross #Sempo #CICs #HimanitarianAid #Kenya #Economies #Ecosystems
#RedCross #Sempo #CICs #HimanitarianAid #Kenya #Economies #Ecosystems
#RedCross #Sempo #CICs #HimanitarianAid #Kenya #Economies #Ecosystems
#RedCross #Sempo #CICs #HimanitarianAid #Kenya #Economies #Ecosystems
#RedCross #Sempo #CICs #HimanitarianAid #Kenya #Economies #Ecosystems
`#RedCross <https://www.grassrootseconomics.org/blog/hashtags/RedCross>`_
#RedCross
`#Sempo <https://www.grassrootseconomics.org/blog/hashtags/Sempo>`_
#Sempo
`#CICs <https://www.grassrootseconomics.org/blog/hashtags/CICs>`_
#CICs
`#HimanitarianAid <https://www.grassrootseconomics.org/blog/hashtags/HimanitarianAid>`_
#HimanitarianAid
`#Kenya <https://www.grassrootseconomics.org/blog/hashtags/Kenya>`_
#Kenya
`#Economies <https://www.grassrootseconomics.org/blog/hashtags/Economies>`_
#Economies
`#Ecosystems <https://www.grassrootseconomics.org/blog/hashtags/Ecosystems>`_
#Ecosystems

18
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@ -8,7 +8,7 @@
.. image:: images/blog/education-and18.webp
.. image:: images/blog/education-and1.webp
@ -48,21 +48,7 @@ At Grassroots Economics, we believe that every child has a right to education he
#education #kenya #sarafu
#education #kenya #sarafu
`#education <https://www.grassrootseconomics.org/blog/hashtags/education>`_
#education
`#kenya <https://www.grassrootseconomics.org/blog/hashtags/kenya>`_
#kenya
`#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_
#sarafu
`#education <https://www.grassrootseconomics.org/blog/hashtags/education>`_ `#kenya <https://www.grassrootseconomics.org/blog/hashtags/kenya>`_ `#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_

4
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@ -40,7 +40,7 @@ Kangemi-Pesa? – Nairobi
Last week Will Ruddick was invited to Kangemi, an informal settlement in Nairobi, where a group of local schools together with Nyendo-Learning Hand in Hand are taking their first steps in replicating the Bangla-Pesa program. We are excited to see another community benefit from enabling themselves to issue and manage their own community currency. We are also happy to be talking with professors of economics from the University of Nairobi on studying these programs.
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla

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@ -1,6 +1,6 @@
:title: Emma's Duka Community Currency Movement
:author: Will Ruddick
:date: May 21
:date: May 21 2021
:slug: emmas-duka
:summary: Emma's Duka Community Currency Movement - in support of those seeking to free themselves from poorly designed monetary systems.
@ -8,11 +8,11 @@
Click for recording. (not exactly what was recorded - but close enough)
`Click for recording. <https://youtu.be/BiArnG8jv9g>`_. (not exactly what was recorded - but close enough)
`Click for recording. <https://youtu.be/BiArnG8jv9g>`_ ` <https://youtu.be/BiArnG8jv9g>`_
.. image:: images/blog/emmas-duka19.webp
.. image:: images/blog/emmas-duka1.webp
@ -22,11 +22,11 @@ This song is called Emma’s Duka, and it's about Emma, and the
Duka where you could shop for all kinds of stuff, like peanuts, but Emma’s Duka is not the name of the duka, that's just the name of the song, and that's why I called the song Emma’s Duka.
*You can trade with anything you want at Emma’s Duka (E - A - E -B7)*
*You can trade with anything you want at Emma’s Duka (E - A - E -B7)*
*Walk right in, it’s around the back (E - E7)*
*Just a half a mile from the railroad track (E - A)*
*You can trade with anything you want at Emma’s Duka (E - A - E -B7)*
| *You can trade with anything you want at Emma’s Duka (E - A - E -B7)*
| *You can trade with anything you want at Emma’s Duka (E - A - E -B7)*
| *Walk right in, it’s around the back (E - E7)*
| *Just a half a mile from the railroad track (E - A)*
| *You can trade with anything you want at Emma’s Duka (E - A - E -B7)*
Now it started a few years back, when I went with a friend to visit Emma. And while we were talking to Emma she had a customer come up, his name was Alfred and he didn’t have a shilling on him. Instead of turning him away she wrote his name down on a little paper and the price of the peanuts and told him he could pay her later by repairing her shoes.
@ -355,12 +355,12 @@ So we'll wait for it to come around on the guitar, here and...
Sing it when it does. Here it comes...
*You can trade with anything you want, at Emma’s Duka*
*You can trade with anything you want, at Emma’s Duka*
*Walk right in, it's around the back*
*Just a half a mile from the railroad track*
*You can trade with anything you want, at Emma’s Duka*
| *You can trade with anything you want, at Emma’s Duka*
| *You can trade with anything you want, at Emma’s Duka*
| *Walk right in, it's around the back*
| *Just a half a mile from the railroad track*
| *You can trade with anything you want, at Emma’s Duka*
|
Folks, That was horrible.
@ -388,11 +388,11 @@ We're just waitin' for it to come around is what we're doing….
All right now….
*You can trade with anything you want, at Emma’s Duka*
*Excepting Emma*
*You can trade with anything you want, at Emma’s Duka*
*Walk right in, it's around the back*
*Just a half a mile from the railroad track*
*You can trade with anything you want, at Emma’s Duka*
*Da da da da da da da daaaa*
*At Emma’s … Dukaaaa*
| *You can trade with anything you want, at Emma’s Duka*
| *Excepting Emma*
| *You can trade with anything you want, at Emma’s Duka*
| *Walk right in, it's around the back*
| *Just a half a mile from the railroad track*
| *You can trade with anything you want, at Emma’s Duka*
| *Da da da da da da da daaaa*
| *At Emma’s … Dukaaaa*

103
content/blog/empowering-mothers.rst
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@ -6,14 +6,14 @@
:summary: Sarafu-Credit: empowering strong women who never stop fighting for their families wellbeing We are joining together to celebrate mothers’...
**Sarafu-Credit: empowering strong women who never stop fighting for their families wellbeing**
**Sarafu-Credit: empowering strong women who never stop fighting for their families wellbeing**
.. image:: images/blog/empowering-mothers25.webp
.. image:: images/blog/empowering-mothers1.webp
@ -57,65 +57,13 @@ Zainabu, member of the Sarafu-Credit in Miyani, recalls the day when women came
“My daughter used not to go to school because I did not have enough money. I decided to let the boys go and let the girl stay at home. But ever since I joined the BN, I was able to use the CC on my daily needs like food and water and save enough money such that I was able to enroll my daughter to school.”
Dama Ngala , member of Bangla-Pesa network since 2016 and a proud mother sending all of her children to school. - Testimonial collected by Lydia Anyango
“My daughter used not to go to school because I did not have enough money. I decided to let the boys go and let the girl stay at home. But ever since I joined the BN, I was able to use the CC on my daily needs like food and water and save enough money such that I was able to enroll my daughter to school.”
Dama Ngala , member of Bangla-Pesa network since 2016 and a proud mother sending all of her children to school. - Testimonial collected by Lydia Anyango
“My daughter used not to go to school because I did not have enough money. I decided to let the boys go and let the girl stay at home. But ever since I joined the BN, I was able to use the CC on my daily needs like food and water and save enough money such that I was able to enroll my daughter to school.”
Dama Ngala , member of Bangla-Pesa network since 2016 and a proud mother sending all of her children to school. - Testimonial collected by Lydia Anyango
“My daughter used not to go to school because I did not have enough money. I decided to let the boys go and let the girl stay at home. But ever since I joined the BN, I was able to use the CC on my daily needs like food and water and save enough money such that I was able to enroll my daughter to school.”
Dama Ngala , member of Bangla-Pesa network since 2016 and a proud mother sending all of her children to school. - Testimonial collected by Lydia Anyango
“My daughter used not to go to school because I did not have enough money. I decided to let the boys go and let the girl stay at home. But ever since I joined the BN, I was able to use the CC on my daily needs like food and water and save enough money such that I was able to enroll my daughter to school.”
Dama Ngala , member of Bangla-Pesa network since 2016 and a proud mother sending all of her children to school. - Testimonial collected by Lydia Anyango
@ -123,16 +71,6 @@ Dama Ngala , member of Bangla-Pesa network since 2016 and a proud mother sending
Ever since I joined the network I started receiving many more people who come to fetch my water. Because I accept SC I get more customers.”
@ -141,45 +79,10 @@ Priscilla, member of Ng’ombeni-Pesa since 2015 is happy that she can feed and
Ever since I joined the network I started receiving many more people who come to fetch my water. Because I accept SC I get more customers.”
Priscilla, member of Ng’ombeni-Pesa since 2015 is happy that she can feed and take good care of her granddaughter Caro by using of Sarafu-Credit. - Testimonial collected by Lydia Anyango
Ever since I joined the network I started receiving many more people who come to fetch my water. Because I accept SC I get more customers.”
Priscilla, member of Ng’ombeni-Pesa since 2015 is happy that she can feed and take good care of her granddaughter Caro by using of Sarafu-Credit. - Testimonial collected by Lydia Anyango
`#mothersday <https://www.grassrootseconomics.org/blog/hashtags/mothersday>`_ `#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_ `#communitycurrencies <https://www.grassrootseconomics.org/blog/hashtags/communitycurrencies>`_
Ever since I joined the network I started receiving many more people who come to fetch my water. Because I accept SC I get more customers.”
Priscilla, member of Ng’ombeni-Pesa since 2015 is happy that she can feed and take good care of her granddaughter Caro by using of Sarafu-Credit. - Testimonial collected by Lydia Anyango
Ever since I joined the network I started receiving many more people who come to fetch my water. Because I accept SC I get more customers.”
Priscilla, member of Ng’ombeni-Pesa since 2015 is happy that she can feed and take good care of her granddaughter Caro by using of Sarafu-Credit. - Testimonial collected by Lydia Anyango
#mothersday #sarafu #communitycurrencies
#mothersday #sarafu #communitycurrencies
`#mothersday <https://www.grassrootseconomics.org/blog/hashtags/mothersday>`_
#mothersday
`#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_
#sarafu
`#communitycurrencies <https://www.grassrootseconomics.org/blog/hashtags/communitycurrencies>`_
#communitycurrencies

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@ -8,57 +8,34 @@
.. image:: images/blog/enabling-leverage18.webp
.. image:: images/blog/enabling-leverage1.webp
From a Microfinance down to tabletop baking groups there is one thing that truly distinguishes these smaller and local financial service providers (FSPs) from a traditional bank and that is their inability to leverage their capital and issue credit. For the last 10 years Grassroots Economics has been working with micro businesses in marginalized communities to leverage their goods and services into a locally circulating credit (Sarafu-Credit or more generally called Community Currency). As we scale up these solutions to interact with larger and larger markets, we must provide guarantees for commercial businesses and other actors wanting to take part.
*From a Microfinance down to tabletop baking groups there is one thing that truly distinguishes these smaller and local financial service providers (FSPs) from a traditional bank and that is their inability to leverage their capital and issue credit. For the last 10 years Grassroots Economics has been working with micro businesses in marginalized communities to leverage their goods and services into a locally circulating credit (Sarafu-Credit or more generally called Community Currency). As we scale up these solutions to interact with larger and larger markets, we must provide guarantees for commercial businesses and other actors wanting to take part.*
From a Microfinance down to tabletop baking groups there is one thing that truly distinguishes these smaller and local financial service providers (FSPs) from a traditional bank and that is their inability to leverage their capital and issue credit. For the last 10 years Grassroots Economics has been working with micro businesses in marginalized communities to leverage their goods and services into a locally circulating credit (Sarafu-Credit or more generally called Community Currency). As we scale up these solutions to interact with larger and larger markets, we must provide guarantees for commercial businesses and other actors wanting to take part.
Banks are loosely bound to what we call a fractional reserve – I say loosely because the regulation required of them makes it very hard to audit that reserve. This loose regulation enables banks to over-issue credit and causes runs on those banks – several banks have collapsed in Kenya in the last few years due to this issue. Hence in re-imaging decentralized banking in the form Mohammed Yunnis was striving for, we need to do better than the existing financial industry standards.
At the heart of blockchain technology (I’m not talking about crypto-currencies here) there is the ability to encode policies into credits being created by FSPs. This means that for a tabletop bank, microfinance or traditional bank the risk of credit issuance can be regulated in real-time and insurance systems can be scaled down to the size of a 25 women savings and loaning group in the communities we work with.
Here is how we've begun to envision those policies:
* Pricing: FSP’s (including bank’s) credit should not be blindly assumed to be equal in value to national currency. The value of credit issued should maintain a 1:1 ratio when exchanged for national currency for only as long as the FSP maintains an adequate reserve of national currency. In other words, if an FSP is issuing credit there should be backing behind it – and the value of that credit should, in real-time, reflect the ratio of reserve to supply of credit. While banks today engage in monetary expansion at high risk to society - by adjusting the exchange price of credit we ensure that no more than the reserve can ever be claimed.
* Issuance: The amount of credit available (minted) should depend on the amount of reserve of an FSP. As more reserve is available more credit is available. As more and more reserve is added - less credit is minted - this causes the ratio of reserve to supply to increase and likewise the price of the credit supply to increase and encourages full reserves. Note that such a relationship between price and supply should not allow prices to drastically exceed national currencies, instead the additional value can be automatically moved into an insurance fund.
* Redemption: The credits described here are claims against a reserve but if those claims can be too rapidly liquidated then the value of those credits will be lost. When a FSP puts capital into a reserve it should be locked into a vesting instrument – meaning that those claims against it can only be redeemed slowly. This ensures there is time for insurances and market forces to fill back in the reserve as it is pulled out to maintain stability. Finally as credits are used to pull out reserve (rather than for local trade), the value of the remaining credit drops. This invites a market to cheaply add in reserve in order to mint more tokens and ensure stability of credit pricing.
* Reserve: While National Currency (on-chain in the form of stable tokens such as DAI and USDC) can be used as reserve now, there is a bright future in various reserve mechanisms residing on-chain, such as futures contracts and indexes into baskets of commodities as planned by groups like OpenLibra. Note that Community Currencies designed this way can be seen as shares of a collective reserve.
* Insurance: A sizable reserve can ensure that credit pricing is not too volatile there is still a need to insure FSP credit so that holders can know their risk of holding credit. As credit is issued and redeemed an insurance fund automatically stabilizes the price of those credits within acceptable limits.
* **Pricing:** FSP’s (including bank’s) credit should not be blindly assumed to be equal in value to national currency. The value of credit issued should maintain a 1:1 ratio when exchanged for national currency for only as long as the FSP maintains an adequate reserve of national currency. In other words, if an FSP is issuing credit there should be backing behind it – and the value of that credit should, in real-time, reflect the ratio of reserve to supply of credit. While banks today engage in monetary expansion at high risk to society - by adjusting the exchange price of credit we ensure that no more than the reserve can ever be claimed.
* **Issuance:** The amount of credit available (minted) should depend on the amount of reserve of an FSP. As more reserve is available more credit is available. As more and more reserve is added - less credit is minted - this causes the ratio of reserve to supply to increase and likewise the price of the credit supply to increase and encourages full reserves. Note that such a relationship between price and supply should not allow prices to drastically exceed national currencies, instead the additional value can be automatically moved into an insurance fund.
* **Redemption:** The credits described here are claims against a reserve but if those claims can be too rapidly liquidated then the value of those credits will be lost. When a FSP puts capital into a reserve it should be locked into a vesting instrument – meaning that those claims against it can only be redeemed slowly. This ensures there is time for insurances and market forces to fill back in the reserve as it is pulled out to maintain stability. Finally as credits are used to pull out reserve (rather than for local trade), the value of the remaining credit drops. This invites a market to cheaply add in reserve in order to mint more tokens and ensure stability of credit pricing.
* **Reserve:** While National Currency (on-chain in the form of stable tokens such as DAI and USDC) can be used as reserve now, there is a bright future in various reserve mechanisms residing on-chain, such as futures contracts and indexes into baskets of commodities as planned by groups like OpenLibra. Note that Community Currencies designed this way can be seen as shares of a collective reserve.
* **Insurance:** A sizable reserve can ensure that credit pricing is not too volatile there is still a need to insure FSP credit so that holders can know their risk of holding credit. As credit is issued and redeemed an insurance fund automatically stabilizes the price of those credits within acceptable limits.
For a video explainer of some of these policies please visit: https://youtu.be/8Z0chJBibhY and see the graphic below:
For a video explainer of some of these policies please visit: https://youtu.be/8Z0chJBibhY and see the graphic below:
`https://youtu.be/8Z0chJBibhY <http://DOEN.nl>`_
@ -66,124 +43,18 @@ For a video explainer of some of these policies please visit: https://youtu.be/8
*What does this all mean? While the above policies may sound complex, when imbued into the credits themselves (ala smart contracts), they enable something quite simple to happen. A tabletop banking group of 25 women in rural Kenya whom each save $1 a week and loan out those savings to their members now have the ability to leverage. Let’s say they put $100 into a reserve (which could be funded by donors) - at a target reserve ratio of 25% (based on a standard body as a requirement for humanitarian aid) they would create $400 of credit (with some reserve held in an insurance fund). This $400 of credit maintains its value of $400 as long as there is money going into reserve to match money leaving it. Group savings, and demand on the groups goods and services keep adding to the reserve while anyone holding that credit has a guarantee against the $100 reserve – meaning commercial businesses can accept the credit and pull out the National Currency they need to restock their supplies.*
What does this all mean? While the above policies may sound complex, when imbued into the credits themselves (ala smart contracts), they enable something quite simple to happen. A tabletop banking group of 25 women in rural Kenya whom each save $1 a week and loan out those savings to their members now have the ability to leverage. Let’s say they put $100 into a reserve (which could be funded by donors) - at a target reserve ratio of 25% (based on a standard body as a requirement for humanitarian aid) they would create $400 of credit (with some reserve held in an insurance fund). This $400 of credit maintains its value of $400 as long as there is money going into reserve to match money leaving it. Group savings, and demand on the groups goods and services keep adding to the reserve while anyone holding that credit has a guarantee against the $100 reserve – meaning commercial businesses can accept the credit and pull out the National Currency they need to restock their supplies.
**What does this all mean? While the above policies may sound complex, when imbued into the credits themselves (ala smart contracts), they enable something quite simple to happen. A tabletop banking group of 25 women in rural Kenya whom each save $1 a week and loan out those savings to their members now have the ability to leverage. Let’s say they put $100 into a reserve (which could be funded by donors) - at a target reserve ratio of 25% (based on a standard body as a requirement for humanitarian aid) they would create $400 of credit (with some reserve held in an insurance fund). This $400 of credit maintains its value of $400 as long as there is money going into reserve to match money leaving it. Group savings, and demand on the groups goods and services keep adding to the reserve while anyone holding that credit has a guarantee against the $100 reserve – meaning commercial businesses can accept the credit and pull out the National Currency they need to restock their supplies.**
What does this all mean? While the above policies may sound complex, when imbued into the credits themselves (ala smart contracts), they enable something quite simple to happen. A tabletop banking group of 25 women in rural Kenya whom each save $1 a week and loan out those savings to their members now have the ability to leverage. Let’s say they put $100 into a reserve (which could be funded by donors) - at a target reserve ratio of 25% (based on a standard body as a requirement for humanitarian aid) they would create $400 of credit (with some reserve held in an insurance fund). This $400 of credit maintains its value of $400 as long as there is money going into reserve to match money leaving it. Group savings, and demand on the groups goods and services keep adding to the reserve while anyone holding that credit has a guarantee against the $100 reserve – meaning commercial businesses can accept the credit and pull out the National Currency they need to restock their supplies.
**What does this all mean?** While the above policies may sound complex, when imbued into the credits themselves (ala smart contracts), they enable something quite simple to happen. A tabletop banking group of 25 women in rural Kenya whom each save $1 a week and loan out those savings to their members now have the ability to leverage. Let’s say they put $100 into a reserve (which could be funded by donors) - at a target reserve ratio of 25% (based on a standard body as a requirement for humanitarian aid) they would create $400 of credit (with some reserve held in an insurance fund). This $400 of credit maintains its value of $400 as long as there is money going into reserve to match money leaving it. Group savings, and demand on the groups goods and services keep adding to the reserve while anyone holding that credit has a guarantee against the $100 reserve – meaning commercial businesses can accept the credit and pull out the National Currency they need to restock their supplies.
So far in 2019 using roughly $10,000 in reserve provided by DOEN.nl and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and Sempo.ai in 2020 using Community Inclusion Currencies (see recent news). By exploring this space and enabling leverage we can open the door to truly decentralized financial services (see white paper). If credit can be safely issued by the people using that credit, we can truly change our world.
So far in 2019 using roughly $10,000 in reserve provided by `DOEN.nl <http://DOEN.nl>`_ and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and `Sempo.ai <http://Sempo.ai>`_ in 2020 using Community Inclusion Currencies (`see recent news <http://news.trust.org/item/20191126123058-xtxvz/>`_). By exploring this space and **enabling leverage** we can open the door to truly decentralized financial services ( `see white paper <https://www.grassrootseconomics.org/whitepaper>`_ ). If credit can be safely issued by the people using that credit, we can truly change our world.
`#leverage <https://www.grassrootseconomics.org/blog/hashtags/leverage>`_ `#fsp <https://www.grassrootseconomics.org/blog/hashtags/fsp>`_ `#banking <https://www.grassrootseconomics.org/blog/hashtags/banking>`_ `#credit <https://www.grassrootseconomics.org/blog/hashtags/credit>`_ `#microfinance <https://www.grassrootseconomics.org/blog/hashtags/microfinance>`_ `#Yunnis <https://www.grassrootseconomics.org/blog/hashtags/Yunnis>`_ `#CIC <https://www.grassrootseconomics.org/blog/hashtags/CIC>`_ `#redcross <https://www.grassrootseconomics.org/blog/hashtags/redcross>`_ `#sempo <https://www.grassrootseconomics.org/blog/hashtags/sempo>`_
So far in 2019 using roughly $10,000 in reserve provided by DOEN.nl and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and Sempo.ai in 2020 using Community Inclusion Currencies (see recent news). By exploring this space and enabling leverage we can open the door to truly decentralized financial services (see white paper). If credit can be safely issued by the people using that credit, we can truly change our world.
So far in 2019 using roughly $10,000 in reserve provided by DOEN.nl and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and Sempo.ai in 2020 using Community Inclusion Currencies (see recent news). By exploring this space and enabling leverage we can open the door to truly decentralized financial services (see white paper). If credit can be safely issued by the people using that credit, we can truly change our world.
So far in 2019 using roughly $10,000 in reserve provided by DOEN.nl and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and Sempo.ai in 2020 using Community Inclusion Currencies (see recent news). By exploring this space and enabling leverage we can open the door to truly decentralized financial services (see white paper). If credit can be safely issued by the people using that credit, we can truly change our world.
**So far in 2019 using roughly $10,000 in reserve provided by DOEN.nl and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and Sempo.ai in 2020 using Community Inclusion Currencies (see recent news). By exploring this space and enabling leverage we can open the door to truly decentralized financial services (see white paper). If credit can be safely issued by the people using that credit, we can truly change our world.**
So far in 2019 using roughly $10,000 in reserve provided by DOEN.nl and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and Sempo.ai in 2020 using Community Inclusion Currencies (see recent news). By exploring this space and enabling leverage we can open the door to truly decentralized financial services (see white paper). If credit can be safely issued by the people using that credit, we can truly change our world.
So far in 2019 using roughly $10,000 in reserve provided by DOEN.nl and minting $40,000 in credit we've seen $200,000 USD in 80,000 transactions for basic needs in undeserved Kenyan communities. We're excited to be piloting these concepts with the Red Cross and Sempo.ai in 2020 using Community Inclusion Currencies (see recent news). By exploring this space and enabling leverage we can open the door to truly decentralized financial services (see white paper). If credit can be safely issued by the people using that credit, we can truly change our world.
`DOEN.nl <http://DOEN.nl>`_ `Sempo.ai <http://Sempo.ai>`_ `see recent news <http://news.trust.org/item/20191126123058-xtxvz/>`_ `see white paper <https://www.grassrootseconomics.org/whitepaper>`_
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
#leverage #fsp #banking #credit #microfinance #Yunnis #CIC #redcross #sempo
`#leverage <https://www.grassrootseconomics.org/blog/hashtags/leverage>`_
#leverage
`#fsp <https://www.grassrootseconomics.org/blog/hashtags/fsp>`_
#fsp
`#banking <https://www.grassrootseconomics.org/blog/hashtags/banking>`_
#banking
`#credit <https://www.grassrootseconomics.org/blog/hashtags/credit>`_
#credit
`#microfinance <https://www.grassrootseconomics.org/blog/hashtags/microfinance>`_
#microfinance
`#Yunnis <https://www.grassrootseconomics.org/blog/hashtags/Yunnis>`_
#Yunnis
`#CIC <https://www.grassrootseconomics.org/blog/hashtags/CIC>`_
#CIC
`#redcross <https://www.grassrootseconomics.org/blog/hashtags/redcross>`_
#redcross
`#sempo <https://www.grassrootseconomics.org/blog/hashtags/sempo>`_
#sempo

64
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@ -76,79 +76,51 @@ Existing assets and future capacity of cooperative businesses are identified and
Our core staff, along with a network of CCDs, provide:
Our core staff, along with a network of CCDs, provide:
Our core staff, along with a network of CCDs, provide:
* Baseline and feasibility analysis services for budding communities, as well as assistance in monitoring and evaluation.
* Certification of Community Currency Systems and Designers – assuring that they follow a high professional and ethical standard and perform regular financial auditing and renewal.
* In-person support to impart practical success stories and co-design customized systems. We also provide printing and digital currency services through our partners. as well as This seems to be a different topic.
* Capacity building for NGOs, local governments, communities and businesses to implement and manage a Community Currency.
* Baseline and feasibility analysis services for budding communities, as well as assistance in monitoring and evaluation.
* Certification of Community Currency Systems and Designers – assuring that they follow a high professional and ethical standard and perform regular financial auditing and renewal.
* In-person support to impart practical success stories and co-design customized systems. We also provide printing and digital currency services through our partners. as well as This seems to be a different topic.
* Capacity building for NGOs, local governments, communities and businesses to implement and manage a Community Currency.
With only six staff members, we are stretched thin! In Nairobi and Mombasa we have three employees each, a regional director, field officer and cooperative business developer, serving over 2,500 businesses AND providing support for certifying new CCDs. As demand for more local currencies and more CCDs continues to grow, we are not prepared and need your support.
.. image:: images/blog/ending-our87.webp
.. image:: images/blog/ending-our1.webp
Where is Support Needed?
Where is Support Needed?
Where is Support Needed?
* Staffing:
* Grant writing, marketing and communications staff
* Training and certification staff
* IT and programming staff to support digital currencies
* An in-house accountant (we currently outsource our accounting).
* An Operations Manager
* Research, Monitoring and Evaluation
* Scholarships for Certified Community Currency Designers across Africa. We wish to train 50 CCDs from communities that can’t afford to come to Kenya next year. We will support each CCD in turn to develop a program in their country of origin.
* Development of training materials (curriculum, videos, methodological tools)
* Further development of the community currencies in Kenya. We need more examples of Community Currency being used in Kenya with different populations. We wish to develop five more sites in urban, peri-urban and rural regions. In each region in Kenya we target thousands of small businesses and schools serving a greater community of tens of thousands in chronic need of stable markets and food security.
* Staffing:
* Grant writing, marketing and communications staff
* Training and certification staff
* IT and programming staff to support digital currencies
* An in-house accountant (we currently outsource our accounting).
* An Operations Manager
* Research, Monitoring and Evaluation
* Scholarships for Certified Community Currency Designers across Africa. We wish to train 50 CCDs from communities that can’t afford to come to Kenya next year. We will support each CCD in turn to develop a program in their country of origin.
* Development of training materials (curriculum, videos, methodological tools)
* Further development of the community currencies in Kenya. We need more examples of Community Currency being used in Kenya with different populations. We wish to develop five more sites in urban, peri-urban and rural regions. In each region in Kenya we target thousands of small businesses and schools serving a greater community of tens of thousands in chronic need of stable markets and food security.
How Will We Get There?
This year we managed to cover roughly 20% of our operating costs through consulting, training, certification and cooperative business development. In 2018 we are seeking to sustainability cover our costs through international CCD student fees and consulting programs. In order to do this we need your support.
This year we managed to cover roughly 20% of our operating costs through consulting, training, certification and cooperative business development. In 2018 we are seeking to sustainability cover our costs through international CCD student fees and consulting programs. In order to do this we need your support.
This year we managed to cover roughly 20% of our operating costs through consulting, training, certification and cooperative business development. In 2018 we are seeking to sustainability cover our costs through international CCD student fees and consulting programs. In order to do this we need your `support <https://www.grassrootseconomics.org/get-involved>`_.
`support <https://www.grassrootseconomics.org/get-involved>`_
#endyear #2017
`#endyear <https://www.grassrootseconomics.org/blog/hashtags/endyear>`_
`#endyear <https://www.grassrootseconomics.org/blog/hashtags/endyear>`_
#endyear

34
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@ -1,6 +1,6 @@
:title: Faith Based Community Inclusion Currencies
:author: Janet Akinyi
:date: May 11
:date: May 11 2021
:slug: faith-based
:summary: Local churches and faith based organizations have begun to develop their own community currencies (Sarafu)
@ -8,7 +8,7 @@
.. image:: images/blog/faith-based18.webp
.. image:: images/blog/faith-based1.webp
@ -17,6 +17,7 @@ Due to economic instability, many people in the marginalized communities are sho
AMK CHURCH
****************
@ -24,21 +25,16 @@ The church (pictured above) is located in Mkanyeni village, Mtaa location, Bofu
“The tree that provided us with the shade dried up and fell down and that's when we decided to build a temporary structure” Dzeha explains.
“The tree that provided us with the shade dried up and fell down and that's when we decided to build a temporary structure” Dzeha explains.
At the height of the COVID-19 pandemic in 2020, Mkanyeni community was among the numerous communities that were empowered by Sarafu to build their own prospering economies. Pastor Dzeha Nyanye was one of the people that was trained on how to use the Community Inclusion Currency -a blockchain based voucher used to trade among community members when the national currency is scarce. Dzeha who is also a shopkeeper explains how Sarafu has impacted his community positively,
*”Sarafu has been a safe way of trade even during the pandemic since I no longer need to carry cash, it has also created job opportunities in my community since the youths and even those without businesses or jobs can now offer services to those registered in Sarafu and earn an income. My sales have also increased as the users that could not have afforded a product from my shop due to lack of the national currency, can now use Sarafu to top up the little they have and get a product from me. I have created a network in my community and I'm also able to get other products that I don’t have in my shop from other users in my network.”*
*”Sarafu has been a safe way of trade even during the pandemic since I no longer need to carry cash, it has also created job opportunities in my community since the youths and even those without businesses or jobs can now offer services to those registered in Sarafu and earn an income. My sales have also increased as the users that could not have afforded a product from my shop due to lack of the national currency, can now use Sarafu to top up the little they have and get a product from me. I have created a network in my community and I'm also able to get other products that I don’t have in my shop from other users in my network.”*
It is during this time that Dzeha saw an opportunity to develop his church. He quickly shared this concept with his congregation and they equally liked and received the concept well. They were happy and optimistic about building their church through Sarafu. They contributed Sarafu jointly and bought the building materials like sand, cement. metals, water and stones. They were able to pay the people that would work on the site in Sarafu and those people with Sarafu could pay tithings and local goods and services from the congregation. Their church is not yet done but they are grateful that Sarafu was introduced in their community. They are hoping to complete their roofing soon.”We are grateful to Sarafu because through it, my community got empowered and as a church in particular, we've made tremendous developments.” Said Elizabeth Chari, one of the church members.
*It is during this time that Dzeha saw an opportunity to develop his church. He quickly shared this concept with his congregation and they equally liked and received the concept well. They were happy and optimistic about building their church through Sarafu. They contributed Sarafu jointly and bought the building materials like sand, cement. metals, water and stones. They were able to pay the people that would work on the site in Sarafu and those people with Sarafu could pay tithings and local goods and services from the congregation. Their church is not yet done but they are grateful that Sarafu was introduced in their community. They are hoping to complete their roofing soon.”We are grateful to Sarafu because through it, my community got empowered and as a church in particular, we've made tremendous developments.” Said Elizabeth Chari, one of the church members.*
It is during this time that Dzeha saw an opportunity to develop his church. He quickly shared this concept with his congregation and they equally liked and received the concept well. They were happy and optimistic about building their church through Sarafu. They contributed Sarafu jointly and bought the building materials like sand, cement. metals, water and stones. They were able to pay the people that would work on the site in Sarafu and those people with Sarafu could pay tithings and local goods and services from the congregation. Their church is not yet done but they are grateful that Sarafu was introduced in their community. They are hoping to complete their roofing soon.”We are grateful to Sarafu because through it, my community got empowered and as a church in particular, we've made tremendous developments.” Said Elizabeth Chari, one of the church members.
It is during this time that Dzeha saw an opportunity to develop his church. He quickly shared this concept with his congregation and they equally liked and received the concept well. They were happy and optimistic about building their church through Sarafu. They contributed Sarafu jointly and bought the building materials like sand, cement. metals, water and stones. They were able to pay the people that would work on the site in Sarafu and those people with Sarafu could pay tithings and local goods and services from the congregation. Their church is not yet done but they are grateful that Sarafu was introduced in their community. They are hoping to complete their roofing soon. *”We are grateful to Sarafu because through it, my community got empowered and as a church in particular, we've made tremendous developments.”* Said Elizabeth Chari, one of the church members.
@ -59,6 +55,7 @@ A congregation that consists of 48 members are now able to worship in a conduciv
ST. REGINA SEGERE LEGIO MARIA
***********************************
@ -74,9 +71,7 @@ They were lucky enough to also get empowered and trained on Syntropic Agroforest
Speaking to Christabell- a selfless hardworking lady in her mid twenties, she gladly explains how great Sarafu has improved their livelihood, "It was hard feeding the big number of the vulnerable persons that we have under our care since the offerings that we use for the same weren't enough or rather sustainable. Since we started using Sarafu, the burden is lighter. We are able to source food from the nearby market since we also registered them in Sarafu. The youths are also empowered and can now offer services to different users and get paid in Sarafu. We receive more offerings than before and we use the same to cater for basic needs. We are also working hard in our farms and we are looking forward to good harvest that we will also sell in Sarafu”
*Speaking to Christabell- a selfless hardworking lady in her mid twenties, she gladly explains how great Sarafu has improved their livelihood, "It was hard feeding the big number of the vulnerable persons that we have under our care since the offerings that we use for the same weren't enough or rather sustainable. Since we started using Sarafu, the burden is lighter. We are able to source food from the nearby market since we also registered them in Sarafu. The youths are also empowered and can now offer services to different users and get paid in Sarafu. We receive more offerings than before and we use the same to cater for basic needs. We are also working hard in our farms and we are looking forward to good harvest that we will also sell in Sarafu”*
Speaking to Christabell- a selfless hardworking lady in her mid twenties, she gladly explains how great Sarafu has improved their livelihood, *"It was hard feeding the big number of the vulnerable persons that we have under our care since the offerings that we use for the same weren't enough or rather sustainable. Since we started using Sarafu, the burden is lighter. We are able to source food from the nearby market since we also registered them in Sarafu. The youths are also empowered and can now offer services to different users and get paid in Sarafu. We receive more offerings than before and we use the same to cater for basic needs. We are also working hard in our farms and we are looking forward to good harvest that we will also sell in Sarafu”*
.. image:: images/blog/faith-based164.webp
@ -92,6 +87,7 @@ Church members working on their farm.
Pastors Network Nairobi
*****************************
@ -99,17 +95,7 @@ This is a group of around 36 members from different denominations within the 30
When Sarafu was introduced to their community, they felt that the concept would help them fill the gaps in their quest to support the vulnerable households in their different communities. They were trained on how to use the Community Inclusion Currencies(CIC) after which they were registered. They joined the many other communities that have been empowered to prosper their own economies. They were able to get basic needs through exchanging goods and services in Sarafu. The pastor Network Group joined hands and registered all the people under their course. “Since we started using Sarafu, I have never slept hungry as I can easily get food from my network. Before Sarafu, I could only manage to get one meal a day. I’m looking forward to making my network bigger to help me get more products. We also use Sarafu in our churches to pay tithes and offerings.” Said Mary, the group's treasurer. Members of Pastors Network (pictured above) group ready to visit a number of vulnerable households.
*When Sarafu was introduced to their community, they felt that the concept would help them fill the gaps in their quest to support the vulnerable households in their different communities. They were trained on how to use the Community Inclusion Currencies(CIC) after which they were registered. They joined the many other communities that have been empowered to prosper their own economies. They were able to get basic needs through exchanging goods and services in Sarafu. The pastor Network Group joined hands and registered all the people under their course. “Since we started using Sarafu, I have never slept hungry as I can easily get food from my network. Before Sarafu, I could only manage to get one meal a day. I’m looking forward to making my network bigger to help me get more products. We also use Sarafu in our churches to pay tithes and offerings.” Said Mary, the group's treasurer. Members of Pastors Network (pictured above) group ready to visit a number of vulnerable households.*
When Sarafu was introduced to their community, they felt that the concept would help them fill the gaps in their quest to support the vulnerable households in their different communities. They were trained on how to use the Community Inclusion Currencies(CIC) after which they were registered. They joined the many other communities that have been empowered to prosper their own economies. They were able to get basic needs through exchanging goods and services in Sarafu. The pastor Network Group joined hands and registered all the people under their course. “Since we started using Sarafu, I have never slept hungry as I can easily get food from my network. Before Sarafu, I could only manage to get one meal a day. I’m looking forward to making my network bigger to help me get more products. We also use Sarafu in our churches to pay tithes and offerings.” Said Mary, the group's treasurer. Members of Pastors Network (pictured above) group ready to visit a number of vulnerable households.
*When Sarafu was introduced to their community, they felt that the concept would help them fill the gaps in their quest to support the vulnerable households in their different communities. They were trained on how to use the Community Inclusion Currencies(CIC) after which they were registered. They joined the many other communities that have been empowered to prosper their own economies. They were able to get basic needs through exchanging goods and services in Sarafu. The pastor Network Group joined hands and registered all the people under their course. “Since we started using Sarafu, I have never slept hungry as I can easily get food from my network. Before Sarafu, I could only manage to get one meal a day. I’m looking forward to making my network bigger to help me get more products. We also use Sarafu in our churches to pay tithes and offerings.” Said Mary, the group's treasurer. Members of Pastors Network (pictured above) group ready to visit a number of vulnerable households.*
When Sarafu was introduced to their community, they felt that the concept would help them fill the gaps in their quest to support the vulnerable households in their different communities. They were trained on how to use the Community Inclusion Currencies(CIC) after which they were registered. They joined the many other communities that have been empowered to prosper their own economies. They were able to get basic needs through exchanging goods and services in Sarafu. The pastor Network Group joined hands and registered all the people under their course. “Since we started using Sarafu, I have never slept hungry as I can easily get food from my network. Before Sarafu, I could only manage to get one meal a day. I’m looking forward to making my network bigger to help me get more products. We also use Sarafu in our churches to pay tithes and offerings.” Said Mary, the group's treasurer. Members of Pastors Network (pictured above) group ready to visit a number of vulnerable households.
When Sarafu was introduced to their community, they felt that the concept would help them fill the gaps in their quest to support the vulnerable households in their different communities. They were trained on how to use the Community Inclusion Currencies(CIC) after which they were registered. They joined the many other communities that have been empowered to prosper their own economies. They were able to get basic needs through exchanging goods and services in Sarafu. The pastor Network Group joined hands and registered all the people under their course. *“Since we started using Sarafu, I have never slept hungry as I can easily get food from my network. Before Sarafu, I could only manage to get one meal a day. I’m looking forward to making my network bigger to help me get more products. We also use Sarafu in our churches to pay tithes and offerings.”* Said Mary, the group's treasurer. Members of Pastors Network (pictured above) group ready to visit a number of vulnerable households.

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.. image:: images/blog/food-forests1.webp
@ -16,35 +16,26 @@ Having worked on a myriad farming techniques, I’ve never been more inspired by
We’ve had the pleasure of hosting Roland van Reenen from Curacao and sent to us by Curadao.
We’ve had the pleasure of hosting Roland van Reenen from Curacao and sent to us by `Curadao <https://twitter.com/Cura_DAO/status/1315367411042877450?s=20>`_.
We’ve had the pleasure of hosting Roland van Reenen from Curacao and sent to us by Curadao.
`Curadao <https://twitter.com/Cura_DAO/status/1315367411042877450?s=20>`_
He is convinced that food forestry via Syntropic Agroforestry will solve most of our fundamental crises and works with the government of Curacao on regenerative organic agriculture programs. Above you can see a group of Kenyan farmers taught agroforestry by Roland, who are also using Community Inclusion Currencies (CICs) here in Kenya to fund themselves to develop the food forest. If these few demo plots produce as much food as similar plots in Curacao (a drought stricken island with only half the annual rainfall of Kenya), we will have a grassroots revolution underway.
Some core syntropic principals:
* Ensure Soil is covered: so that water and nutrients don’t evaporate and that roots and mycorrhizal fungi can absorb and move around those nutrients. (Don’t even step on bare soil).
* Maximize Photosynthesis: plants requiring different amounts of sunlight can be planted above, below and around each other to ensure that sunlight isn’t wasted on the soil and at least twice the amount of energy can be consumed by plants.
* Succession: Ensure that there is a clear succession of plants. E.g. As a cassava grows it can give shelter to a fruit tree.
* Stratification – Fill each layer of vegetation and maintain diversity for system health. Space (stratification) has to be harmonized over time (life cycle), respecting the successional steps within each of the systems
* Management – Keeping balance, reducing excess growth.
* **Ensure Soil is covered:** so that water and nutrients don’t evaporate and that roots and mycorrhizal fungi can absorb and move around those nutrients. (Don’t even step on bare soil).
* **Maximize Photosynthesis:** plants requiring different amounts of sunlight can be planted above, below and around each other to ensure that sunlight isn’t wasted on the soil and at least twice the amount of energy can be consumed by plants.
* **Succession:** Ensure that there is a clear succession of plants. E.g. As a cassava grows it can give shelter to a fruit tree.
* **Stratification** – Fill each layer of vegetation and maintain diversity for system health. Space (stratification) has to be harmonized over time (life cycle), respecting the successional steps within each of the systems
* **Management** – Keeping balance, reducing excess growth.
Using community currency to budget for the creation and maintenance of food forests seems as natural as the syntropic principals themselves. Indeed the circulation of community currency mirrors the concepts of mycorrhizal association and hyphal networks. “In some more complex relationships, mycorrhizal fungi do not just collect immobilized soil nutrients, but connect individual plants together by mycorrhizal networks that transport water, carbon, and other nutrients directly from plant to plant through underground hyphal networks.”
Using community currency to budget for the creation and maintenance of food forests seems as natural as the syntropic principals themselves. Indeed the circulation of community currency mirrors the concepts of mycorrhizal association and hyphal networks. “In some more complex relationships, mycorrhizal fungi do not just collect immobilized soil nutrients, but connect individual plants together by mycorrhizal networks that transport water, carbon, and other nutrients directly from plant to plant through underground `hyphal networks <https://en.wikipedia.org/wiki/Mycorrhiza#cite_note-Simard2012-35>`_.”
Using community currency to budget for the creation and maintenance of food forests seems as natural as the syntropic principals themselves. Indeed the circulation of community currency mirrors the concepts of mycorrhizal association and hyphal networks. “In some more complex relationships, mycorrhizal fungi do not just collect immobilized soil nutrients, but connect individual plants together by mycorrhizal networks that transport water, carbon, and other nutrients directly from plant to plant through underground hyphal networks.”
`hyphal networks <https://en.wikipedia.org/wiki/Mycorrhiza#cite_note-Simard2012-35>`_
In this sense CICs connected through membranes (bonding curves) enable communities to transport vital resources. Further a CIC is a voucher for a particular group of resources identified by a village. One can hardly think of a better source of primary production than the food from a food forest being the anchor (backing of last resort) for a community currency.
@ -55,11 +46,11 @@ Syntropic Agroforestry is the best candidate I have seen for regenerating rich s
We don’t have to stretch far at all to apply syntropic principals to a community currency and networks of community currencies. Syntropic principals loosely applied to community currency:
* Ensure basic needs are covered: Using anything but community currency for basic needs creates a dependency on foreign currencies or aid.
* Maximize resources: The benefits of foreign and local resources are best consumed by an entire supply chain in order to produce local productive capacity. Ensure a community currency is being utilized by each level of production, services and value addition.
* Succession: Ensure that there is a clear succession of community currency utilization. We often call this braiding: as the usage for CC among trade for food, moves into education, and haircuts and so on.
* Stratification: Ensure a diversity of usages for Community Currency - any gaps in diversity can lead toward extraction of local resources and eventual stagnation..
* Management: Ensure that the growth of a Community Currency is clearly bounded and its supply and value can’t keep growing forever. When CC accumulates and stops flowing or dissipates into another ecosystems, management is key to regain healthy flow.
* **Ensure basic needs are covered:** Using anything but community currency for basic needs creates a dependency on foreign currencies or aid.
* **Maximize resources:** The benefits of foreign and local resources are best consumed by an entire supply chain in order to produce local productive capacity. Ensure a community currency is being utilized by each level of production, services and value addition.
* **Succession:** Ensure that there is a clear succession of community currency utilization. We often call this braiding: as the usage for CC among trade for food, moves into education, and haircuts and so on.
* **Stratification:** Ensure a diversity of usages for Community Currency - any gaps in diversity can lead toward extraction of local resources and eventual stagnation..
* **Management:** Ensure that the growth of a Community Currency is clearly bounded and its supply and value can’t keep growing forever. When CC accumulates and stops flowing or dissipates into another ecosystems, management is key to regain healthy flow.
.. image:: images/blog/food-forests113.webp
@ -76,3 +67,7 @@ We're excited to be adding this key component to anchor the flow of rural commun
Here is a simple illustrated handbook for Syntropic Agroforestry
.. raw:: html
<a class="pdf-download" href="pdfs-downloadable/Syntropic agroforestry handbook.pdf"
download="Syntropic agroforestry handbook">Syntropic agroforestry handbook</a>

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:title: From Mustard Seeds to Food Forests: A Regenerative Journey
:author: Shaila Agha
:date: May 4
:date: May 4 2021
:slug: from-mustard
:modified: May 5
:summary: We are learning from 50 community groups that use a community currency to sell produce and pay for the labor with community currency
@ -8,53 +8,22 @@
We've been blessed by an opportunity from Mustard Seed Trust to support 50 acres of Syntropic Agriculture paired with Community Currencies in Kenya. We are learning from 50 community groups that use a community currency to sell produce and pay for the labor intensive setup, inputs and maintenance of one acre community farms (Shamba ya Jamii). The Shamba ya Jamii design was imported from Curacao (thanks to Curadao) and contextualized by Roland Van Reenen and James Thiong'o and hundreds of local farmers.
We've been blessed by an opportunity from `Mustard Seed Trust <https://www.mustardseedtrust.org/>`_ to support 50 acres of Syntropic Agriculture paired with Community Currencies in Kenya. We are learning from 50 community groups that use a community currency to sell produce and pay for the labor intensive setup, inputs and maintenance of one acre community farms (Shamba ya Jamii). The Shamba ya Jamii design was imported from `Curadao <https://curadao.io/>`_ (thanks to Curadao) and contextualized by Roland Van Reenen and James Thiong'o and hundreds of local farmers.
We've been blessed by an opportunity from Mustard Seed Trust to support 50 acres of Syntropic Agriculture paired with Community Currencies in Kenya. We are learning from 50 community groups that use a community currency to sell produce and pay for the labor intensive setup, inputs and maintenance of one acre community farms (Shamba ya Jamii). The Shamba ya Jamii design was imported from Curacao (thanks to Curadao) and contextualized by Roland Van Reenen and James Thiong'o and hundreds of local farmers.
We've been blessed by an opportunity from Mustard Seed Trust to support 50 acres of Syntropic Agriculture paired with Community Currencies in Kenya. We are learning from 50 community groups that use a community currency to sell produce and pay for the labor intensive setup, inputs and maintenance of one acre community farms (Shamba ya Jamii). The Shamba ya Jamii design was imported from Curacao (thanks to Curadao) and contextualized by Roland Van Reenen and James Thiong'o and hundreds of local farmers.
`Mustard Seed Trust <https://www.mustardseedtrust.org/>`_ `Curadao <https://curadao.io/>`_
"Regenerative agricultural techniques/tools have the potential to feed an entire nation without the political and social-economic strains that farmers currently undergo. We’re encouraging local community groups in the arid and semi-arid coastal regions to join the Shamba ya Jamii (Community Carm) Movement so as to build a sustainable ecological and economic future. " - Isavary Khabuqwi
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
.. image:: images/blog/from-mustard1.webp
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
Below are a few inspiring excerpts of what has been accomplished so far by Grassroots Economics' support engineers in rural Nyanza, Kwale and Kakuma Refugee Camp, Watamu, Kilifi as well as urban Nairobi
`Nyanza <#viewer-2obrt>`_ `Kwale <#viewer-kp0h>`_ `Kakuma <#viewer-an9an>`_ `Watamu <#viewer-8ar20>`_ `Kilifi <#viewer-7ded5>`_ `Nairobi <#viewer-3c3kg>`_
.. image:: images/blog/from-mustard47.webp
**Syntropic Siaya by Janet Akinyi**
**Syntropic Siaya by Janet Akinyi**
The destruction and loss of indigenous ecosystems is a major challenge affecting areas across the Lake Victoria Region and the drought stricken areas in Kenya. The Nyalgunga Farmers Group and Kwe Kende Group in Nyalgunga Village, North Alego ward, Alego Usonga Constituency, Siaya County are among the privileged groups across Kenya that have been trained and empowered on Syntropic Agroforestry- a system that regenerates soil and provides long term food forest.
@ -87,7 +56,7 @@ Healthy organic Kales ready for harvesting.
The community members have started harvesting food from their farms that they are able to buy and sell using Sarafu (community Currency). Other community members who are not part of these two groups but are using Community Inclusion Currency are also able to buy food from the two farms.
**Syntropic Kwale by Amina Godana**
**Syntropic Kwale by Amina Godana**
8 years ago the World Food Program had initiated a project in Kwale County that is PRRO (Protracted Relief Recovery Operation which was aimed for asset creation in the region under Kenyan Red Cross who were the implementing partners. They had different activities,
@ -120,10 +89,10 @@ This whole project was however short lived this was because the community member
The best thing about practicing Syntropic Agroforestry is that everything in the farm is useful.
* Some weeds keep off pests and diseases.
* Companion planting of plants which are beneficial to each other optimises the use of space,sunlight and nutrient cycle.
* Permanent soil cover with mulch prevents soil erosion and provides nutrients for the plants when they decay.
* Pruning the matured plants increases the amount of sunlight for other plants.
* Some weeds keep off pests and diseases.
* Companion planting of plants which are beneficial to each other optimises the use of space,sunlight and nutrient cycle.
* Permanent soil cover with mulch prevents soil erosion and provides nutrients for the plants when they decay.
* Pruning the matured plants increases the amount of sunlight for other plants.
Migunani A, Madewani, Yowani and Chikole are some of the many chamas in Kwale County that have embraced the new form of farming. It's a new concept in the area which makes them so eager to see if it actually works. Food insecurity in the area was the main reason as to why they wholeheartedly embraced the syntropic agroforestry this is because it involves planting of different types of crops on the same piece of land being that some crops mature earlier than others this means they will be harvesting almost all the time and do replanting the issue of lack of food will be sorted!
@ -170,7 +139,7 @@ Members buying first produce from their farm.
Syntropic Kakuma Refugee Camp by Marcelin Petro
**Syntropic Kakuma Refugee Camp by Marcelin Petro**
@ -182,12 +151,8 @@ From WFP each family can get one and some type of grain every month (3kg to 4kg)
Instead of waiting to be given food at the end of the month it's better to plant even just a kitchen gardens for the families while waiting for the monthly food distribution <instead of giving money better you teach me how to make our own money>.
Instead of waiting to be given food at the end of the month it's better to plant even just a kitchen gardens for the families while waiting for the monthly food distribution *<instead of giving money better you teach me how to make our own money>*.
*Instead of waiting to be given food at the end of the month it's better to plant even just a kitchen gardens for the families while waiting for the monthly food distribution <instead of giving money better you teach me how to make our own money>.*
Instead of waiting to be given food at the end of the month it's better to plant even just a kitchen gardens for the families while waiting for the monthly food distribution <instead of giving money better you teach me how to make our own money>.
@ -199,7 +164,7 @@ Here I am proudly buying local food with local currency and not waiting for WFP
Urban Gardens in Nairobi by Sylvia Karanja
**Urban Gardens in Nairobi by Sylvia Karanja**
@ -223,7 +188,7 @@ James Thiong'o, Joyce and myself (Sylvia Karanja shown below)
Syntropic Watamu, Kilifi by Emmanuel Mbui
**Syntropic Watamu, Kilifi by Emmanuel Mbui**
@ -235,7 +200,7 @@ Now, in another new community, Gede, Watamu Community, through Mohamed, a farmer
Watamu Reef Welfare Group trained on the Syntropic agriculture at their Shamba.
Watamu Reef Welfare Group trained on the Syntropic agriculture at their Shamba.
@ -243,7 +208,7 @@ Members of the Watamu Reef Welfare Group are planting fruits trees in the prepar
Syntropic Kilifi by Isavary Khabuqwi
**Syntropic Kilifi by Isavary Khabuqwi**
@ -267,14 +232,10 @@ According to our beloved and passionate Kilifi Agronomist Eck Volkmann, "When ge
Emmanuel Kahindi is the farm manager as Sue's and is also teaching other groups how to do the same while selling produce using Community Currency - pictured here at Distant Relatives' May Fair.
Emmanuel Kahindi is the farm manager as Sue's and is also teaching other groups how to do the same while selling produce using Community Currency - pictured here at `Distant Relatives <http://www.kilifibackpackers.com/about/>`_ ' May Fair.
Emmanuel Kahindi is the farm manager as Sue's and is also teaching other groups how to do the same while selling produce using Community Currency - pictured here at Distant Relatives' May Fair.
`Distant Relatives <http://www.kilifibackpackers.com/about/>`_
Sue’s farm is looking to upgrade its production capacity by adding more crop options such as watermelon and basil following soil analysis. One of the project members plans to donate basil seeds from Muzambara mountains in Tanzania as a way of trying out new varieties.

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<iframe width="740" height="416" src="https://www.youtube.com/embed/Xe5d8SwwpOo" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
@ -35,7 +37,9 @@ Gatina-Pesa continues to pick up steam spreading out from schools in Nairobi's K
Lots of new and exciting things are on the horizon set to launch in 2015, if we get the right support! New Currencies in Nairobi and Mombasa counties, as well as more in South African Municipalities.
.. raw:: html
<iframe width="740" height="416" src="https://www.youtube.com/embed/SQrnN5QXdVM" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

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@ -50,165 +50,21 @@ Community: By supporting community services and increasing interconnectivity of
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
Education: Through helping pay for school fees
Environment: By helping to pay for youth centered environmental programs like waste collection and preventing flooding.
Economy: By increasing trade and decreasing unemployment in the area.
Community: By supporting community services and increasing interconnectivity of people.
South Africa wants Bangla-Pesa!
Koru's own Will Ruddick was invited to South Africa to teach a group formed by Meshfieldabout our experiences working with Community Currencies in Kenya. The Meshfield team has brought together the University of Cape Town, local municipalities and the SA Treasury to spearhead a Community currency program in two municipalities of South Africa. We're really exited to see this sort of coalition between government and universities supporting these important programs.
John Ziniades from Meshfield and Will Ruddick also got to meet with Tim Jenkin the founder of CES and a global leader in the Complementary Currency movement.
#bangl #gatina #SouthAfrica
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangl>`_ `#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_ `#SouthAfrica <https://www.grassrootseconomics.org/blog/hashtags/SouthAfrica>`_
#bangl #gatina #SouthAfrica
`#bangl <https://www.grassrootseconomics.org/blog/hashtags/bangl>`_
#bangl
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#gatina
`#SouthAfrica <https://www.grassrootseconomics.org/blog/hashtags/SouthAfrica>`_
#SouthAfrica

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@ -12,29 +12,11 @@ The Gatina Business Organization is busy preparing for the community currency's
After a wonderful design process with local students in Kenya and Nyendo-lernen as well as the Cheimgauer in Germany the Gatina-Pesa have been printed and are on their way to Kenya. Hopes are high and there is a strong commitment to seeing this program take off.
#bangla #gatina #nairobi
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_ `#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_ `#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_
#bangla #gatina #nairobi
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#gatina
`#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_
#nairobi

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.. image:: images/blog/gatina-pesa-launched18.webp
.. image:: images/blog/gatina-pesa-launched1.webp
With an amazing march through the slum, starting from Congo and ending at Gatina Primary School the entire community has been mobilized around their own Community Currency Gatina-Pesa. Hon. Simba Arati, the area Minister of Parliament, officially cut the ribbon and launched the program. With an 107 initial registrations from local businesses the Gatina community has a strong start.

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@ -26,7 +26,6 @@ Each day more and more small business owners are able to trade with each other e
Will Ruddick can be seen on the right giving a seminar at the University of Nairobi, with the hope that more research will focus on these alternative financial programs.
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#gatina

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@ -1,6 +1,6 @@
:title: Grassroots Economics has a New Director: Shaila Agha
:author: Shaila Agha
:date: Apr 8
:date: Apr 8 2021
:slug: grassroots-economics
:summary: It is an honor to work as a Director along with Will Ruddick and the Grassroots Economics team in their endeavor to rebalance the inequaliti
@ -8,7 +8,7 @@
.. image:: images/blog/grassroots-economics18.webp
.. image:: images/blog/grassroots-economics1.webp
@ -30,6 +30,4 @@ In 2015, I attended a KIICO conference on trade and development. My angle, to un
It is an honor to work as a Director along with Will and the Grassroots Economics team in their endeavor to rebalance the inequalities existing in our current economy and empower those who are most in need. To tackle today’s challenges, we need not only new solutions, but new methods at arriving at solutions. Data and data science will be at the forefront at meeting these challenges and to social innovation, humanitarian aid and international development.
*Shaila is an ocean loving global citizen trained in disruptive Financial systems, she has a keen interest in transformative agriculture and conservation. Her love for science and children led her to create a beginner science lab kit that she aims to launch in primary schools countrywide alongside an activity booklet called “The science of life”. She has held various roles in International organizations and private organizations from business development to analyst roles, all of which revolved around developing alternative financial systems and sustainability. You can find out more information about her here.*
*Shaila is an ocean loving global citizen trained in disruptive Financial systems, she has a keen interest in transformative agriculture and conservation. Her love for science and children led her to create a beginner science lab kit that she aims to launch in primary schools countrywide alongside an activity booklet called “The science of life”. She has held various roles in International organizations and private organizations from business development to analyst roles, all of which revolved around developing alternative financial systems and sustainability. You can find out more information about her here.*
`here <https://ke.linkedin.com/in/shailaa>`_
*Shaila is an ocean loving global citizen trained in disruptive Financial systems, she has a keen interest in transformative agriculture and conservation. Her love for science and children led her to create a beginner science lab kit that she aims to launch in primary schools countrywide alongside an activity booklet called “The science of life”. She has held various roles in International organizations and private organizations from business development to analyst roles, all of which revolved around developing alternative financial systems and sustainability. You can find out more information about her* `here <https://ke.linkedin.com/in/shailaa>`_.

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:title: GRE for ME
:author: Grace Rachmany
:date: Jul 16
:date: Jul 16 2021
:slug: gre-for
:summary: Thank you for doing the sacred and life-preserving work of creating financial opportunity and elevating people’s dignity
@ -8,7 +8,7 @@
.. image:: images/blog/gre-for18.webp
.. image:: images/blog/gre-for1.webp
@ -16,18 +16,9 @@ To be perfectly honest, which isn’t necessarily considered a virtue in the blo
For those who aren’t familiar with my work, you can find more about me on LinkedIn and on my Odysee channels. I host a regular open weekly meeting on these topics and teach a workshop on rethinking our financial and governmental systems. My place in the industry is somewhat of a contrarian. I maintain a long memory of unsuccessful startups, failed cryptocurrency projects, and ideas that didn’t hold up in the real world. Founders love talking to me because I can point to flaws in their thinking, connect them with people who’ve tried similar thing, and give them examples of what has and hasn’t worked in their industry.
For those who aren’t familiar with my work, you can find more about me on `LinkedIn <https://www.linkedin.com/in/rebeccarachmany/>`_ and on my `Odysee <https://odysee.com/@SufficiencyCurrency:7/MoneyIsSoLastCentury:a>`_ channels. I host a regular open weekly meeting on these topics and teach a workshop on rethinking our financial and governmental systems. My place in the industry is somewhat of a contrarian. I maintain a long memory of unsuccessful startups, failed cryptocurrency projects, and ideas that didn’t hold up in the real world. Founders love talking to me because I can point to flaws in their thinking, connect them with people who’ve tried similar thing, and give them examples of what has and hasn’t worked in their industry.
For those who aren’t familiar with my work, you can find more about me on LinkedIn and on my Odysee channels. I host a regular open weekly meeting on these topics and teach a workshop on rethinking our financial and governmental systems. My place in the industry is somewhat of a contrarian. I maintain a long memory of unsuccessful startups, failed cryptocurrency projects, and ideas that didn’t hold up in the real world. Founders love talking to me because I can point to flaws in their thinking, connect them with people who’ve tried similar thing, and give them examples of what has and hasn’t worked in their industry.
For those who aren’t familiar with my work, you can find more about me on LinkedIn and on my Odysee channels. I host a regular open weekly meeting on these topics and teach a workshop on rethinking our financial and governmental systems. My place in the industry is somewhat of a contrarian. I maintain a long memory of unsuccessful startups, failed cryptocurrency projects, and ideas that didn’t hold up in the real world. Founders love talking to me because I can point to flaws in their thinking, connect them with people who’ve tried similar thing, and give them examples of what has and hasn’t worked in their industry.
`LinkedIn <https://www.linkedin.com/in/rebeccarachmany/>`_ `Odysee <https://odysee.com/@SufficiencyCurrency:7/MoneyIsSoLastCentury:a>`_
What I can’t do is point to a lot of long-term success stories.

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@ -32,7 +32,7 @@ The table below contains a summary of basic characteristics of MotoMoto particip
.. image:: images/blog/growing-up36.webp
.. image:: images/blog/growing-up1.webp

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@ -16,25 +16,13 @@ As a way to celebrate we are happy to share two stories from our network members
.. image:: images/blog/happy-mothers24.webp
.. image:: images/blog/happy-mothers1.webp
Bevelyne Ombayo is a single mother, who lives in Lindi Slums, Kibera.Running a business(selling fruits)and an active member of Lindi Business Network. She is celebrating more than one year being in the network and using Community Currency. She has been able to acquire more sales compared to her previous period before she joined the network. The network has enabled her trade with other members,being involved in activities such as Merry go rounds and table banking.The business caters for some of her daily needs, she doesn't miss a meal on the table and children as well go school. Through working as a team in the network has enabled grow her business through holding more sales from members that has attracted other customers who are not members of the network.She can acquire loans due to her personal savings in the chama.
.. image:: images/blog/happy-mothers47.webp
@ -42,7 +30,7 @@ Bevelyne Ombayo is a single mother, who lives in Lindi Slums, Kibera.Running a b
Iglah Shimenga a mother of one is a member of Gatina Business Organization and runs a grocery business( tomatoes, onions, fruits and vegetables at ksh 10= ksh 5 + Sc 5) on Muthiora Road in Gatina Location. The price is favourable to the members of the the surrounding community that enables her get more frequent customers making more sales and expanded her business. She joined the network in 2017. Being amongst the most active members has enabled her do savings. She doesn't have to hussle for food since she can purchase food for her family from a vendor in the network as well as her child at 4 years old is getting education in a member school Bensofil Community School in the network that allows her to pay part of the tuition using Community Currency.Currently her business is fairing well more than average," I really have more customers to date" she said.
`#mothersday <https://www.grassrootseconomics.org/blog/hashtags/mothersday>`_
`#mothersday <https://www.grassrootseconomics.org/blog/hashtags/mothersday>`_
#mothersday

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@ -8,11 +8,7 @@
.. image:: images/blog/here-we18.webp
.. image:: images/blog/here-we1.webp
@ -48,13 +44,8 @@ Have a wonderful holiday and healthy 2017!
#kenya #2016 #yearlyreport
`#kenya <https://www.grassrootseconomics.org/blog/hashtags/kenya>`_
`#kenya <https://www.grassrootseconomics.org/blog/hashtags/kenya>`_ `#yearlyreport <https://www.grassrootseconomics.org/blog/hashtags/yearlyreport>`_
#kenya
`#yearlyreport <https://www.grassrootseconomics.org/blog/hashtags/yearlyreport>`_
#yearlyreport

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@ -1,7 +1,7 @@
:title: Hon. Paul Simba Arati MP Dagoretti - North
:author: Will Ruddick
:date: Aug 29, 2014
:slug: hon.-paul
:slug: hon-paul
:summary: Nairobi's Dagoretti North MP. Hon. Paul Simba Arati will be attending the launch of Gatina-Pesa in October. Besides support from local...
@ -44,13 +44,9 @@ While schools have been the heart of the network in Kawangware Richard has reach
#gatina #nairobi
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#gatina
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_ `#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_
`#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_
#nairobi

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:title: How to Host a Currency Potluck
:author: Will Ruddick
:date: Aug 1, 2020
:slug: how-to-host
:summary: Let's get the potlucks started! Here is a short introduction to the methods we use for Community Inclusion Currencies (CICs) potlucks!
.. image:: images/blog/how-to-host1.webp
Let's get the potlucks started! Here is a short introduction to the methods we use for Community Inclusion Currency (CIC) potlucks and how they could be applied to any community – even on social media groups such as: WhatsApp, Telegram Discord, Facebook and so on.
These are all short iterative processes that can happen in cycles as the group learns by doing.
**Step 0. Bringing People Together**
This is its own challenge, especailly (physically) today- so I’m assuming you have or can pull together a group of people where each person brings something to the table/social media group (a church group, whatsapp friends etc). Think of this as a potluck (a.k.a braai, coroga, faith supper, hatch party or participatory dinner party) where everyone is bringing an ingredient to amazing dishes that you are all going to cook and eat together.
**Step 1a. Resource Mapping**
What ingredients do people have and what does everyone want to eat?! Have each person identify what their needs are and what they can offer - including goods, services and national currency. Share this list of offers and needs and see how well the community can meet its own needs and what is missing to have that perfect potluck.
**Step 1b. Community Projects**
From the needs and offers discussed are there any commonalities? Could the group decide on one or more community projects? (Collective farming, elderly care, open source software development... etc)
If there is consensus on projects the community would like to do as well as sufficient offers to do those projects – as well as needs being fulfilled by those projects and offers – then you have all the ingredients you need for a great Community Inclusion Currency (**Potluck!**). Now, solidifying (mixing) these resources toward your goals and projects involves commitment.
**Step 2a. Reach Commitment**
What can everyone commit to putting into the potluck? Individually and together we express what we can commit to accepting in return for the CIC we will create: our goods and services, our time on community projects and as well National Currency.
**Step 2b. Develop an Agreement**
* Creation: Based on what everyone is putting in: goods, services and national currency – how many CIC tokens should be created? How should they be connected to collateral valued in National Currency? We use a metric in Kenya that for every 1 CIC created there is 1 unit of national currency worth of commitments of goods or services as well as 0.25 national currency (collateral pool) bonded to it – this way the CIC can be spent on committed goods and services as well as cashed out to national currency – note that as well people can add national currency the pool.
* Allotment: Based on the community projects and commitments people offer how should the CIC be distributed? We take the full amount of CIC to be created and divide it in half – where 50% is divided in proportion to people’s commitments and the other 50% goes toward community projects – with designated managers.
* n.b. There can be many other rules, such as taxation, demurrage, fines yearly recycling of the CIC. It is good to take time here to think about all the possibilities as you design your own financial system.
* Trade Balance: One core concept/commitment in CICs is the need for people to over time maintain a trade balance – accept as much as you spend, and spend as much as you accept.
Now that all the ingredients are there and they have been mixed together **your currency potluck is ready to divide and serve. Dish it out!**
**Step 3a. Develop a name for your CIC**
Give your creation (CIC) a name! Both a long name and a short name – this will be the token name people see on their devices when trading.
**Step 3b. Mint and Distribute**
These CICs are created and then distributed as per the rules decided. Note there are a lot of options on how to digitally or physically create these tokens and distribute them! See technical discussion below.
**Step 4. Circulation - Let's eat!**
* The group can trade with themselves or anyone else by sending them the CIC tokens they have.
* Anyone can do community projects and get paid by that community project manager in CIC tokens
* Anyone can add national currency (or other market valued tokens) to the collateral pool and create more CIC.
* Anyone holding a CIC can liquidate it and pull out the collateral behind it.
**Step 5. Keep meeting and planning and starting over**
No dinner party should last forever and one potluck is never enough! Ideally your CIC is humming along unlocking your collective untapped potential, but reassessment is key. How is the potluck going and how might we do better next time? Having a duration for your CIC and the community projects you create naturally gives rise to the next CIC – which can be created by a group liquidating the current CIC and creating another with the same process as above.
*We wish you the best loving community currency potluck ever and are here to help!*
**Grassroots Economics** is dedicated to developing and supporting public infrastructure so the each CIC can be independently created and owned by a community without extractive rent seeking platforms, smart contracts or blockchains. We still have a lot of work todo here and welcome you to our potluck and would love to be invited to yours! You can find a link to Kenyan training materials here: https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/README.md
**Technically:**
In Kenya we manually do the Mint and Distribute step on behalf of communities – but anyone with a bit of blockchain tech savy can deploy these contracts (we are working on makign this much easier). We mint a CIC/token and bond it to a collateral pool in a digital asset (such as USDC, XCHF - note a community could create it's own reserve currency basket). This process is called defining and deploying a smart contract on a blockchain. The contract is transparent and the rule for how it can be used need to be totally clear. The open source Bancor V1 Bonding Curve contracts can be augmented in many ways to suit the needs of the group. Also note that a Decentralized Autonomous Organization (DAO) can be used to do much of the above process and distribution as well as maintain the contract – in lieu of a trusted contract deployer. There are a lot of options if you get stuck on this creation and distribution process - we are happy to discuss!

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.. image:: images/blog/how-to18.webp
.. image:: images/blog/how-to1.webp
*Photo credit: Magdaline Mumbi a community network mobilizer.*
**Vulnerable Household Support Networks (VHSNs)**
*In this post I'll describe a modality for social support and humanitarian aid such as cash transfer programming utilizing Community Inclusion Currencies (CICs).*
**Vulnerable households (VHHs)**
*Photo credit: Magdaline Mumbi a community network mobilizer.*
Vulnerable households (VHHs)
**Vulnerable Household Support Networks (VHSNs)**
*In this post I'll describe a modality for social support and humanitarian aid such as cash transfer programming utilizing Community Inclusion Currencies (CICs).*
VHHs in an area are identified via survey carried out by enumerators that seeks to understand which families in the community are most vulnerable and need support. Generally they are families where the head of household is a youth, elderly or very ill. See how Kenyan Red Cross works hard to identify vulnerable households.
`See how Kenyan Red Cross works hard to identify vulnerable households. <https://www.redcross.or.ke/component/search/?searchword=vulnerable&searchphrase=all&Itemid=0>`_ *Utilizing and developing Community Inclusion Currencies (CICs) can support, strengthen and identify social safety nets around vulnerable households.*
**Vulnerable households (VHHs)**
A Community Inclusion Currency (CIC) like Sarafu is created and/or distributed regularly (similar to a basic income) in the area to VHHs as well as to all the households in the community in order to enable them to record mutual support among each other. Community members are asked to support the vulnerable families and each other with goods and services, using a CIC to record the support given.
VHHs in an area are identified via survey carried out by enumerators that seeks to understand which families in the community are most vulnerable and need support. Generally they are families where the head of household is a youth, elderly or very ill. `See how Kenyan Red Cross works hard to identify vulnerable households. <https://www.redcross.or.ke/component/search/?searchword=vulnerable&searchphrase=all&Itemid=0>`_.
*Utilizing and developing Community Inclusion Currencies (CICs) can support, strengthen and identify social safety nets around vulnerable households.*
A Community Inclusion Currency (CIC) like Sarafu is created and/or distributed regularly (similar to a basic income) in the area to VHHs as well as to all the households in the community in order to enable them to record mutual support among each other. Community members are asked to support the vulnerable families and each other with goods and services, using a CIC to record the support given.
`Sarafu <https://www.grassrootseconomics.org/sarafu-network>`_
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
A Community Inclusion Currency (CIC) like `Sarafu <https://www.grassrootseconomics.org/sarafu-network>`_ is created and/or distributed regularly (similar to a basic income) in the area to VHHs as well as to all the households in the community in order to enable them to record mutual support among each other. Community members are asked to support the vulnerable families and each other with goods and services, using a CIC to record the support given.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
@ -43,143 +34,14 @@ For instance: a woman named Rehema who sells tomatoes may offer some tomatoes wo
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
**Vulnerable Household Support Network Members (NMs):**
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
For instance: a woman named Rehema who sells tomatoes may offer some tomatoes worth 20 KSH to a VHH. The VHH can record and show their appreciation by sending Rehema 20 CIC tokens using her feature phone.
- Rehema can now also appreciate her own friends family and even tomato suppliers by sending them CIC in return for their support, goods and services.
:
20
KSH
VHH
.
VHH
20
CIC
.
-
CIC
in
return
for
,
.
**Vulnerable Household Support Network Members (NMs):**
Vulnerable Household Support Network Members (NMs):
those people that support the VHH by offering goods and services are traditionally not easy to objectively identify or quantify. By receiving a CIC a NM can record of their support in the whole community and around VHHs. This data is recorded securely and anonymously on a blockchain. Those NMs in the community that wish to share their blockchain address can be identified and capacity built / rewarded / supported by individual cash transfers.
**Vulnerable Household Support Network - Identification:**
**Vulnerable Household Support Network - Identification:**
Each user in the network has a unique address for their account on the blockchain that can be used to record every single CIC transaction. Any CIC transaction coming from a VHH can be viewed and audited as a record of support being offered to that VHH from members of the VHS-N.
@ -190,77 +52,6 @@ For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehe
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
For instance a VHH uses their feature phone and sends 100 CIC to appreciate Rehema the sender and record her offer of 100 KSH worth of maize flour as support.
VHH
100
CIC
of
100
KSH
of
as
.
That gives us a way to measure and rank how much support Rehema has offered. Indeed we can see the whole network of users that have offered VHHs support. If we look at this whole network we can get a sum of all the support a person like Rehema has offered to ANY vulnerable household - and we can even rank her support for VHHs among ALL the NMs (who are CIC users).
@ -271,515 +62,28 @@ Say that Rehema’s amount of received CIC from VHHs (measuring her offers of ma
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
.. csv-table:: stats
:header: "NM names", "Support/month", "percentage"
:widths: 30, 30, 15
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
"Rehema Katans", "3000 CIC", "46%"
"Fran Miguu", "2000 CIC", "31%"
"Katana Busia", "1000 CIC", "15%"
"Gertrude Mia", "550 CIC", "8%"
"Total", "6550 CIC", "100%"
"Smith", "John, Junior", 20
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
**NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%**
NM Name | Support / month | Percentage
Rehema Katana | 3000 CIC | 46%
Fran Miguu | 2000 CIC | 31%
Katana Busia | 1000 CIC | 15%
Gertrude Mia | 550 CIC | 8%
Total | 6550 CIC | 100%
**NM**
**|**
**/**
**|**
|
3000
CIC
|
46
%
|
2000
CIC
|
31
%
|
1000
CIC
|
15
%
|
550
CIC
|
8
%
**|**
**6550**
**CIC**
|
**100**
**%**
The four people or businesses have received 6550 CICs over a month because of the support they offered to vulnerable households. They can choose to offer their information to the public or an aid organization in order to be recognized and potentially rewarded.
**Vulnerable Household Support Networks (VHSNs) can identified using Community Inclusion Currency (CIC) transaction data and give aid organizations concrete and auditable proof of community support (POCS).**
**Vulnerable Household Support Networks (VHSNs) can identified using Community Inclusion Currency (CIC) transaction data and give aid organizations concrete and auditable proof of community support (POCS).**
In this way ANYONE offering support, goods or services to Vulnerable Households can be identified, acknowledged, rewarded to build their capacity. Because these CICs can continue circulating in the community as long as they are needed they can provide a long term community safety net, especially when Kenyan shillings are scarce or during or recovering from a crisis like COVID.
In this way **ANYONE** offering support, goods or services to Vulnerable Households can be identified, acknowledged, rewarded to build their capacity. Because these CICs can continue circulating in the community as long as they are needed they can provide a long term community safety net, especially when Kenyan shillings are scarce or during or recovering from a crisis like COVID.
**In this way ANYONE offering support, goods or services to Vulnerable Households can be identified, acknowledged, rewarded to build their capacity. Because these CICs can continue circulating in the community as long as they are needed they can provide a long term community safety net, especially when Kenyan shillings are scarce or during or recovering from a crisis like COVID.**
In this way ANYONE offering support, goods or services to Vulnerable Households can be identified, acknowledged, rewarded to build their capacity. Because these CICs can continue circulating in the community as long as they are needed they can provide a long term community safety net, especially when Kenyan shillings are scarce or during or recovering from a crisis like COVID.
*Note that there are MANY other ways to define and identify CSNs: Including voting systems as well as identifying specific areas of support, such as: farming, education or food and water.
:title: How to Host a Currency Potluck
:author: Will Ruddick
:date: Aug 1, 2020
:slug: how-to
:summary: Let's get the potlucks started! Here is a short introduction to the methods we use for Community Inclusion Currencies (CICs) potlucks!
.. image:: images/blog/how-to18.webp
Let's get the potlucks started! Here is a short introduction to the methods we use for Community Inclusion Currency (CIC) potlucks and how they could be applied to any community – even on social media groups such as: WhatsApp, Telegram Discord, Facebook and so on.
These are all short iterative processes that can happen in cycles as the group learns by doing.
**Step 0. Bringing People Together**
This is its own challenge, especailly (physically) today- so I’m assuming you have or can pull together a group of people where each person brings something to the table/social media group (a church group, whatsapp friends etc). Think of this as a potluck (a.k.a braai, coroga, faith supper, hatch party or participatory dinner party) where everyone is bringing an ingredient to amazing dishes that you are all going to cook and eat together.
**Step 1a. Resource Mapping**
What ingredients do people have and what does everyone want to eat?! Have each person identify what their needs are and what they can offer - including goods, services and national currency. Share this list of offers and needs and see how well the community can meet its own needs and what is missing to have that perfect potluck.
**Step 1b. Community Projects**
From the needs and offers discussed are there any commonalities? Could the group decide on one or more community projects? (Collective farming, elderly care, open source software development... etc)
If there is consensus on projects the community would like to do as well as sufficient offers to do those projects – as well as needs being fulfilled by those projects and offers – then you have all the ingredients you need for a great Community Inclusion Currency (Potluck!). Now, solidifying (mixing) these resources toward your goals and projects involves commitment.
**If there is consensus on projects the community would like to do as well as sufficient offers to do those projects – as well as needs being fulfilled by those projects and offers – then you have all the ingredients you need for a great Community Inclusion Currency (Potluck!). Now, solidifying (mixing) these resources toward your goals and projects involves commitment.**
If there is consensus on projects the community would like to do as well as sufficient offers to do those projects – as well as needs being fulfilled by those projects and offers – then you have all the ingredients you need for a great Community Inclusion Currency (Potluck!). Now, solidifying (mixing) these resources toward your goals and projects involves commitment.
**Step 2a. Reach Commitment**
What can everyone commit to putting into the potluck? Individually and together we express what we can commit to accepting in return for the CIC we will create: our goods and services, our time on community projects and as well National Currency.
**Step 2b. Develop an Agreement**
* Creation: Based on what everyone is putting in: goods, services and national currency – how many CIC tokens should be created? How should they be connected to collateral valued in National Currency? We use a metric in Kenya that for every 1 CIC created there is 1 unit of national currency worth of commitments of goods or services as well as 0.25 national currency (collateral pool) bonded to it – this way the CIC can be spent on committed goods and services as well as cashed out to national currency – note that as well people can add national currency the pool.
* Allotment: Based on the community projects and commitments people offer how should the CIC be distributed? We take the full amount of CIC to be created and divide it in half – where 50% is divided in proportion to people’s commitments and the other 50% goes toward community projects – with designated managers.
* n.b. There can be many other rules, such as taxation, demurrage, fines yearly recycling of the CIC. It is good to take time here to think about all the possibilities as you design your own financial system.
* Trade Balance: One core concept/commitment in CICs is the need for people to over time maintain a trade balance – accept as much as you spend, and spend as much as you accept.
Now that all the ingredients are there and they have been mixed together your currency potluck is ready to divide and serve. Dish it out!
**Now that all the ingredients are there and they have been mixed together your currency potluck is ready to divide and serve. Dish it out!**
**Step 3a. Develop a name for your CIC**
Give your creation (CIC) a name! Both a long name and a short name – this will be the token name people see on their devices when trading.
**Step 3b. Mint and Distribute**
These CICs are created and then distributed as per the rules decided. Note there are a lot of options on how to digitally or physically create these tokens and distribute them! See technical discussion below.
**These CICs are created and then distributed as per the rules decided. Note there are a lot of options on how to digitally or physically create these tokens and distribute them! See technical discussion below.**
These CICs are created and then distributed as per the rules decided. Note there are a lot of options on how to digitally or physically create these tokens and distribute them! See technical discussion below.
*These CICs are created and then distributed as per the rules decided. Note there are a lot of options on how to digitally or physically create these tokens and distribute them! See technical discussion below.*
These CICs are created and then distributed as per the rules decided. Note there are a lot of options on how to digitally or physically create these tokens and distribute them! See technical discussion below.
**Step 4. Circulation - Let's eat!**
* The group can trade with themselves or anyone else by sending them the CIC tokens they have.
* Anyone can do community projects and get paid by that community project manager in CIC tokens
* Anyone can add national currency (or other market valued tokens) to the collateral pool and create more CIC.
* Anyone holding a CIC can liquidate it and pull out the collateral behind it.
**Step 5. Keep meeting and planning and starting over**
**No dinner party should last forever and one potluck is never enough! Ideally your CIC is humming along unlocking your collective untapped potential, but reassessment is key. How is the potluck going and how might we do better next time? Having a duration for your CIC and the community projects you create naturally gives rise to the next CIC – which can be created by a group liquidating the current CIC and creating another with the same process as above.**
No dinner party should last forever and one potluck is never enough! Ideally your CIC is humming along unlocking your collective untapped potential, but reassessment is key. How is the potluck going and how might we do better next time? Having a duration for your CIC and the community projects you create naturally gives rise to the next CIC – which can be created by a group liquidating the current CIC and creating another with the same process as above.
*We wish you the best loving community currency potluck ever and are here to help!*
**Grassroots Economics is dedicated to developing and supporting public infrastructure so the each CIC can be independently created and owned by a community without extractive rent seeking platforms, smart contracts or blockchains. We still have a lot of work todo here and welcome you to our potluck and would love to be invited to yours! You can find a link to Kenyan training materials here: https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/README.md**
Grassroots Economics is dedicated to developing and supporting public infrastructure so the each CIC can be independently created and owned by a community without extractive rent seeking platforms, smart contracts or blockchains. We still have a lot of work todo here and welcome you to our potluck and would love to be invited to yours! You can find a link to Kenyan training materials here: https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/README.md
**Grassroots Economics is dedicated to developing and supporting public infrastructure so the each CIC can be independently created and owned by a community without extractive rent seeking platforms, smart contracts or blockchains. We still have a lot of work todo here and welcome you to our potluck and would love to be invited to yours! You can find a link to Kenyan training materials here: https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/README.md**
Grassroots Economics is dedicated to developing and supporting public infrastructure so the each CIC can be independently created and owned by a community without extractive rent seeking platforms, smart contracts or blockchains. We still have a lot of work todo here and welcome you to our potluck and would love to be invited to yours! You can find a link to Kenyan training materials here: https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/README.md
`https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/README.md <https://gitlab.com/grassrootseconomics/cic-docs/-/blob/master/README.md>`_
**Technically:**
In Kenya we manually do the Mint and Distribute step on behalf of communities – but anyone with a bit of blockchain tech savy can deploy these contracts (we are working on makign this much easier). We mint a CIC/token and bond it to a collateral pool in a digital asset (such as USDC, XCHF - note a community could create it's own reserve currency basket). This process is called defining and deploying a smart contract on a blockchain. The contract is transparent and the rule for how it can be used need to be totally clear. The open source Bancor V1 Bonding Curve contracts can be augmented in many ways to suit the needs of the group. Also note that a Decentralized Autonomous Organization (DAO) can be used to do much of the above process and distribution as well as maintain the contract – in lieu of a trusted contract deployer. There are a lot of options if you get stuck on this creation and distribution process - we are happy to discuss!
Note that there are MANY other ways to define and identify CSNs: Including voting systems as well as identifying specific areas of support, such as: farming, education or food and water.

27
content/blog/interactive-village.rst
View File

@ -6,16 +6,7 @@
:summary: The 5th installment of the Village Market Simulator series is now online! You can find it on YouTube or in the 'Simulations' section of...
**The 5th installment of the Village Market Simulator series is now online! You can find it on YouTube or in the 'Simulations' section of our MOOC.**
**The 5th installment of the Village Market Simulator series is now online! You can find it on YouTube or in the 'Simulations' section of our MOOC.**
**The 5th installment of the Village Market Simulator series is now online! You can find it on YouTube or in the 'Simulations' section of our MOOC.**
`YouTube <http://www.youtube.com/watch?v=AyYkJsFGjHg>`_ `MOOC <http://www.grassrootseconomics.org/mooc>`_
**The 5th installment of the Village Market Simulator series is now online! You can find it on** `YouTube <http://www.youtube.com/watch?v=AyYkJsFGjHg>`_ **or in the 'Simulations' section of our** `MOOC <http://www.grassrootseconomics.org/mooc>`_.
@ -23,23 +14,11 @@ This episode goes through the basic premises of community currencies and how the
.. image:: images/blog/interactive-village41.webp
.. image:: images/blog/interactive-village1.webp
What is especially exciting about this one is that it will be available in Github and you can play with all the bells and whistles, and experiment by yourself how changing different variables affect trade within the village.
What is especially exciting about this one is that it will be available in Github and you can play with all the bells and whistles, and experiment by yourself how changing different variables affect trade within the village.
`Github <http://github.com/GrassrootsEconomics/vms>`_
What is especially exciting about this one is that it will be available in `Github <http://github.com/GrassrootsEconomics/vms>`_ and you can play with all the bells and whistles, and experiment by yourself how changing different variables affect trade within the village.

269
content/blog/investment-modelling.rst
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@ -8,16 +8,8 @@
While Community Inclusion Currencies (CICs) have been shown to increase local trade they can also be a vehicle for collective share holding and impact investment. A large portfolio of CICs could represent millions of dollars of investment while the circulation of the CIC could enable billions of dollars of trade in marginalized communities. All the equations and graphs in the examples below can be here can be found on GitHub here.
While Community Inclusion Currencies (CICs) have been shown to increase local trade they can also be a vehicle for collective share holding and impact investment. A large portfolio of CICs could represent millions of dollars of investment while the circulation of the CIC could enable billions of dollars of trade in marginalized communities. *All the equations and graphs in the examples below can be here can be found on* `GitHub here. <http://github.com/GrassrootsEconomics/CIC-Docs>`_.
*While Community Inclusion Currencies (CICs) have been shown to increase local trade they can also be a vehicle for collective share holding and impact investment. A large portfolio of CICs could represent millions of dollars of investment while the circulation of the CIC could enable billions of dollars of trade in marginalized communities. All the equations and graphs in the examples below can be here can be found on GitHub here.*
While Community Inclusion Currencies (CICs) have been shown to increase local trade they can also be a vehicle for collective share holding and impact investment. A large portfolio of CICs could represent millions of dollars of investment while the circulation of the CIC could enable billions of dollars of trade in marginalized communities. All the equations and graphs in the examples below can be here can be found on GitHub here.
`GitHub here. <http://github.com/GrassrootsEconomics/CIC-Docs>`_
@ -25,40 +17,23 @@ We can approximate that the overall impact of a CIC on the economy is proportion
A typical share price of a company is based capital assets, augmented by investors expectations. Instead with a CIC your share price (exchange rate) is based on known underlying reserves Exchange Rate P = L * Reserve / Supply (L is our leverage as a variable on the smart contract L = 1/F below) and the bonding curve equations as originally defined by Bancor's `smart contract: <http://github.com/GrassrootsEconomics/CIC-Liquid-Token>`_
A typical share price of a company is based capital assets, augmented by investors expectations. Instead with a CIC your share price (exchange rate) is based on known underlying reserves Exchange Rate P = L * Reserve / Supply (L is our leverage as a variable on the smart contract L = 1/F below) and the bonding curve equations as originally defined by Bancor's smart contract:
As more reserve is added, less and less supply (shares) are created and the share value (exchange price of the CIC token to its reserve) increases. **(eq1: Minting)**
A typical share price of a company is based capital assets, augmented by investors expectations. Instead with a CIC your share price (exchange rate) is based on known underlying reserves Exchange Rate P = L * Reserve / Supply (L is our leverage as a variable on the smart contract L = 1/F below) and the bonding curve equations as originally defined by Bancor's smart contract:
.. image:: images/blog/investment-modelling1.webp
`smart contract <http://github.com/GrassrootsEconomics/CIC-Liquid-Token>`_
*S = the entire supply of CIC tokens, R = the entire Reserve in National Currency and F = 1 / Leverage*
As more reserve is added, less and less supply (shares) are created and the share value (exchange price of the CIC token to its reserve) increases. (eq1: Minting)
**As more reserve is added, less and less supply (shares) are created and the share value (exchange price of the CIC token to its reserve) increases. (eq1: Minting)**
.. image:: images/blog/investment-modelling46.webp
*S = the entire supply of CIC tokens, R = the entire Reserve in National Currency and F = 1 / Leverage*
As supply of CIC is cashed out or burnt/(reserve redeemed) then less and less reserve is released then that share price drops. (eq2, Redemption)
**As supply of CIC is cashed out or burnt/(reserve redeemed) then less and less reserve is released then that share price drops. (eq2, Redemption)**
.. image:: images/blog/investment-modelling68.webp
@ -68,21 +43,6 @@ As supply of CIC is cashed out or burnt/(reserve redeemed) then less and less re
Once the price moves up it is because people believe they will get something of value for it in the near to long term holding. Either they will buy a product at market or under market rates using the CIC or they will hold the CIC in order to use it later when the exchange price is higher (a longer term investment). As more people add to the reserve the price will eventually rise high enough that the long term holders will want to cash out (say once it reaches a plateau – forced or market based). This liquidation of long term holders will cause the price to drop and could cause a cascade effect reducing the reserve to near zero.
Once the price moves up it is because people believe they will get something of value for it in the near to long term holding. Either they will buy a product at market or under market rates using the CIC or they will hold the CIC in order to use it later when the exchange price is higher (a longer term investment). As more people add to the reserve the price will eventually rise high enough that the long term holders will want to cash out (say once it reaches a plateau – forced or market based). This liquidation of long term holders will cause the price to drop and could cause a cascade effect reducing the reserve to near zero.
Once the price moves up it is because people believe they will get something of value for it in the near to long term holding. Either they will buy a product at market or under market rates using the CIC or they will hold the CIC in order to use it later when the exchange price is higher (a longer term investment). As more people add to the reserve the price will eventually rise high enough that the long term holders will want to cash out (say once it reaches a plateau – forced or market based). This liquidation of long term holders will cause the price to drop and could cause a cascade effect reducing the reserve to near zero.
Once at near zero reserve the remaining CICs in circulation have a near zero exchange rate and so trading will slow down as people lack confidence to accept it for goods and services. But this is also an investment opportunity. At such a low reserve and hence exchange rate, putting more reserve in and minting new tokens is quite cheap. This investment would lead to a middling reserve period whose momentum may bring the currency all the way back to 1:1 with the national currency and even farther to a high reserve period.
@ -96,114 +56,26 @@ These four reserve cases (zero, low, middling, and high) are shown above with th
These four reserve cases (zero, low, middling, and high) are shown above with their relative merits and detriments. Note that the cycle above is just one possible cycle that we see in the CICs in Kenya and is generally caused by donor aid.
These four reserve cases (zero, low, middling, and high) are shown above with their relative merits and detriments. Note that the cycle above is just one possible cycle that we see in the CICs in Kenya and is generally caused by donor aid.
Some challenges therein:
**Some challenges therein:**
1. No investment: Should the currency not allow investors a return they will see no reason to invest in the first place - no matter the transaction velocity, there will be insufficient capital behind it to scale. What keeps the currency alive? - both the reserve and the social capital behind it. When the reserve runs out, can someone still use the currency for some good or service at market value? (This is expected market stabilization) If so, then there is a huge local short term investment opportunity (i.e. to buy products at cheaper rates - in this case is arbitrage) – which could translate into a medium and long term investment opportunity.
**Some challenges therein:
1. No investment: Should the currency not allow investors a return they will see no reason to invest in the first place - no matter the transaction velocity, there will be insufficient capital behind it to scale. What keeps the currency alive? - both the reserve and the social capital behind it. When the reserve runs out, can someone still use the currency for some good or service at market value? (This is expected market stabilization) If so, then there is a huge local short term investment opportunity (i.e. to buy products at cheaper rates - in this case is arbitrage) – which could translate into a medium and long term investment opportunity.**
Some challenges therein:
1. No investment: Should the currency not allow investors a return they will see no reason to invest in the first place - no matter the transaction velocity, there will be insufficient capital behind it to scale. What keeps the currency alive? - both the reserve and the social capital behind it. When the reserve runs out, can someone still use the currency for some good or service at market value? (This is expected market stabilization) If so, then there is a huge local short term investment opportunity (i.e. to buy products at cheaper rates - in this case is arbitrage) – which could translate into a medium and long term investment opportunity.
Some challenges therein:
1. No investment: Should the currency not allow investors a return they will see no reason to invest in the first place - no matter the transaction velocity, there will be insufficient capital behind it to scale. What keeps the currency alive? - both the reserve and the social capital behind it. When the reserve runs out, can someone still use the currency for some good or service at market value? (This is expected market stabilization) If so, then there is a huge local short term investment opportunity (i.e. to buy products at cheaper rates - in this case is arbitrage) – which could translate into a medium and long term investment opportunity.
Some challenges therein:
1. No investment: Should the currency not allow investors a return they will see no reason to invest in the first place - no matter the transaction velocity, there will be insufficient capital behind it to scale. What keeps the currency alive? - both the reserve and the social capital behind it. When the reserve runs out, can someone still use the currency for some good or service at market value? (This is expected market stabilization) If so, then there is a huge local short term investment opportunity (i.e. to buy products at cheaper rates - in this case is arbitrage) – which could translate into a medium and long term investment opportunity.
2. Fast Liquidation: should investors cash out too soon and too much the currency may be too volatile and may never build enough market confidence to reach high transaction amounts with sufficient capital to have high impacts.
2. Fast Liquidation: should investors cash out too soon and too much the currency may be too volatile and may never build enough market confidence to reach high transaction amounts with sufficient capital to have high impacts.
2. Fast Liquidation: should investors cash out too soon and too much the currency may be too volatile and may never build enough market confidence to reach high transaction amounts with sufficient capital to have high impacts.
In example 1 below we show the effect of social backing on problem (1) and in example 2 we have the effect of investment on problem (2) above.
In example 1 below we show the effect of social backing on problem (1) and in example 2 we have the effect of investment on problem (2) above.
In example 1 below we show the effect of social backing on problem (1) and in example 2 we have the effect of investment on problem (2) above.
**Example 1. Maize Miller**
For example. If I run a maize mill (a cooperative owned by 25 women in Kenya) and I create a CIC at 4x leverage and put in 100 USD into reserve and mint 400 CIC tokens. Then my Price is 4*100/400 = 1. If I can spend those 400 tokens as if they were equal to $1 on labor and other local needs (rent, school fees, water) then I would have multiplied my purchasing power. If everyone returns those tokens to me for my maize – I will have simply given myself an advance on my own maize. I could then cash out my share to pull back out the 100 USD that was simply acting as collateral there. My profit is zero but I have increased my turnover.
**For example. If I run a maize mill (a cooperative owned by 25 women in Kenya) and I create a CIC at 4x leverage and put in 100 USD into reserve and mint 400 CIC tokens. Then my Price is 4*100/400 = 1. If I can spend those 400 tokens as if they were equal to $1 on labor and other local needs (rent, school fees, water) then I would have multiplied my purchasing power. If everyone returns those tokens to me for my maize – I will have simply given myself an advance on my own maize. I could then cash out my share to pull back out the 100 USD that was simply acting as collateral there. My profit is zero but I have increased my turnover.**
**Example 1. Maize Miller**
For example. If I run a maize mill (a cooperative owned by 25 women in Kenya) and I create a CIC at 4x leverage and put in 100 USD into reserve and mint 400 CIC tokens. Then my Price is 4*100/400 = 1. If I can spend those 400 tokens as if they were equal to $1 on labor and other local needs (rent, school fees, water) then I would have multiplied my purchasing power. If everyone returns those tokens to me for my maize – I will have simply given myself an advance on my own maize. I could then cash out my share to pull back out the 100 USD that was simply acting as collateral there. My profit is zero but I have increased my turnover.
Let's say I, the maize miller, do it again and spend the tokens for 400 USD of labor and some of my future customers don’t return their tokens for maize but instead cash them out? This will cause all the remaining tokens to lose some exchange value. Let’s say 50 of the 400 tokens are cashed out for $41USD ([eq2] note only the 1st dollar pulled out has a $ dollar value - hence slippage).
Let’s say there is now a reserve remaining of $58.6 and 350 tokens remaining and let’s say all these remaining 350 tokens are returned to the maize mill for $350 USD of flour. So, I, the maize mill, now have 350 tokens backed by $58.6USD in reserve and a price of P = 4X $58.6/350 = $0.67USD. Well, I - the maize miller, have gotten $400 USD of labor costs and spent $350 USD in product and am remaining with $58.6 USD of reserve. Meaning that I got an overall $100 in wages reduction – redemption in product at the cost of $41.4USD of my reserve). My profit here is the $400USD in labor I received minus the loss of $350USD of stock + $58.6USD of reserve minus the $100 of reserve initially used = $8.6USD. While the seller of tokens took a loss of $50USD(labor) - $41.4USD(reserve received) = $-8.6USD.
**Let’s say there is now a reserve remaining of $58.6 and 350 tokens remaining and let’s say all these remaining 350 tokens are returned to the maize mill for $350 USD of flour. So, I, the maize mill, now have 350 tokens backed by $58.6USD in reserve and a price of P = 4X $58.6/350 = $0.67USD. Well, I - the maize miller, have gotten $400 USD of labor costs and spent $350 USD in product and am remaining with $58.6 USD of reserve. Meaning that I got an overall $100 in wages reduction – redemption in product at the cost of $41.4USD of my reserve). My profit here is the $400USD in labor I received minus the loss of $350USD of stock + $58.6USD of reserve minus the $100 of reserve initially used = $8.6USD. While the seller of tokens took a loss of $50USD(labor) - $41.4USD(reserve received) = $-8.6USD.**
Let’s say there is now a reserve remaining of $58.6 and 350 tokens remaining and let’s say all these remaining 350 tokens are returned to the maize mill for $350 USD of flour. So, I, the maize mill, now have 350 tokens backed by $58.6USD in reserve and a price of P = 4X $58.6/350 = $0.67USD. Well, I - the maize miller, have gotten $400 USD of labor costs and spent $350 USD in product and am remaining with $58.6 USD of reserve. Meaning that I got an overall $100 in wages reduction – redemption in product at the cost of $41.4USD of my reserve). My profit here is the $400USD in labor I received minus the loss of $350USD of stock + $58.6USD of reserve minus the $100 of reserve initially used = $8.6USD. While the seller of tokens took a loss of $50USD(labor) - $41.4USD(reserve received) = $-8.6USD.
**Let’s say there is now a reserve remaining of $58.6 and 350 tokens remaining and let’s say all these remaining 350 tokens are returned to the maize mill for $350 USD of flour. So, I, the maize mill, now have 350 tokens backed by $58.6USD in reserve and a price of P = 4X $58.6/350 = $0.67USD. Well, I - the maize miller, have gotten $400 USD of labor costs and spent $350 USD in product and am remaining with $58.6 USD of reserve. Meaning that I got an overall $100 in wages reduction – redemption in product at the cost of $41.4USD of my reserve). My profit here is the $400USD in labor I received minus the loss of $350USD of stock + $58.6USD of reserve minus the $100 of reserve initially used = $8.6USD. While the seller of tokens took a loss of $50USD(labor) - $41.4USD(reserve received) = $-8.6USD.**
Let’s say there is now a reserve remaining of $58.6 and 350 tokens remaining and let’s say all these remaining 350 tokens are returned to the maize mill for $350 USD of flour. So, I, the maize mill, now have 350 tokens backed by $58.6USD in reserve and a price of P = 4X $58.6/350 = $0.67USD. Well, I - the maize miller, have gotten $400 USD of labor costs and spent $350 USD in product and am remaining with $58.6 USD of reserve. Meaning that I got an overall $100 in wages reduction – redemption in product at the cost of $41.4USD of my reserve). My profit here is the $400USD in labor I received minus the loss of $350USD of stock + $58.6USD of reserve minus the $100 of reserve initially used = $8.6USD. While the seller of tokens took a loss of $50USD(labor) - $41.4USD(reserve received) = $-8.6USD.
Let’s say there is now a reserve remaining of $58.6 and 350 tokens remaining and let’s say all these remaining 350 tokens are returned to the maize mill for $350 USD of flour. So, I, the maize mill, now have 350 tokens backed by $58.6USD in reserve and a price of P = 4X $58.6/350 = $0.67USD. Well, I - the maize miller, have gotten $400 USD of labor costs and spent $350 USD in product and am remaining with $58.6 USD of reserve. Meaning that I got an overall $100 in wages reduction – redemption in product at the cost of $41.4USD of my reserve). My profit here is the $400USD in labor I received minus the loss of $350USD of stock + $58.6USD of reserve minus the $100 of reserve initially used = **$8.6USD**. While the seller of tokens took a loss of $50USD(labor) - $41.4USD(reserve received) = **$-8.6USD.**
In this case the community are being incentivized to use the tokens at the maize mill or other CIC accepting businesses, rather than cashing them out. But now that the maize miller has all the tokens again buyers of flour should be able to put in more reserve themselves and mint tokens at the market price of $0.67USD to make a profit themselves.
@ -218,25 +90,6 @@ Let’s say the one buyer of maize who lost above by cashing out, decided to tak
Let’s say now that buyer purchased all $50 USD worth of maize from me (costing him only $41.4 USD). Now, I the maize miller, have all 400 tokens backed by $100 USD, and I have used up $400 USD of flour and I have bought $400 units of labor. So my total profit is $-400(product)+$400(labor)+$100(reserve value)-$100(initial reserve)= $0USD and my customer has made back the $8.6 USD he lost before and is at 0 net profit. So both the maize miller and the buyer are back at zero profit.
Let’s say now that buyer purchased all $50 USD worth of maize from me (costing him only $41.4 USD). Now, I the maize miller, have all 400 tokens backed by $100 USD, and I have used up $400 USD of flour and I have bought $400 units of labor. So my total profit is $-400(product)+$400(labor)+$100(reserve value)-$100(initial reserve)= $0USD and my customer has made back the $8.6 USD he lost before and is at 0 net profit. So both the maize miller and the buyer are back at zero profit.
Let’s say now that buyer purchased all $50 USD worth of maize from me (costing him only $41.4 USD). Now, I the maize miller, have all 400 tokens backed by $100 USD, and I have used up $400 USD of flour and I have bought $400 units of labor. So my total profit is $-400(product)+$400(labor)+$100(reserve value)-$100(initial reserve)= $0USD and my customer has made back the $8.6 USD he lost before and is at 0 net profit. So both the maize miller and the buyer are back at zero profit.
In all three stages here $400, $350 and $50 = $800USD of flour was consumed and another $400USD + 400 USD of Labor was purchased that is $1600 USD of trade based on a reserve of $100USD being leveraged into 400 tokens which circulated 4x for a total impact of 16x when compared to just spending the reserve. Again if we assume Impact ~= Velocity*(Supply * Exchange rate) and we 4x the supply and 4x the circulation and average out the exchange rate to 1. This could continue on and on resulting in more and more trade facilitated.
@ -250,96 +103,27 @@ So there is a key assumption here: That the CIC issuer will accept CIC’s for f
So there is a key assumption here: That the CIC issuer will accept CIC’s for flour pegged 1:1 with the Research (National Currency). If the issuer – maize mill owner decides to gouge clients after spending at full rates then people will not accept the CICs for labor at full rates in the future. This represents the social backing of the voucher and gives someone a reason to put in money into the reserve when the price is low.
So there is a key assumption here: That the CIC issuer will accept CIC’s for flour pegged 1:1 with the Research (National Currency). If the issuer – maize mill owner decides to gouge clients after spending at full rates then people will not accept the CICs for labor at full rates in the future. This represents the social backing of the voucher and gives someone a reason to put in money into the reserve when the price is low.
Now given a market with many CIC issuers, if an issuer decided to price gouge clients – those clients have other options – they can convert their CIC to another CIC issuers token.
If the CIC issuer wants to continue using CICs in order to buy labor and increase turnover and is assured, there will be some buyers in the future he is obligated to continue accepting CICs at the same rate he spent them in the first place (1:1 with National Currency).
Now given a market with many CIC issuers, if an issuer decided to price gouge clients – those clients have other options – they can convert their CIC to another CIC issuers token.
If the CIC issuer wants to continue using CICs in order to buy labor and increase turnover and is assured, there will be some buyers in the future he is obligated to continue accepting CICs at the same rate he spent them in the first place (1:1 with National Currency).
Now given a market with many CIC issuers, if an issuer decided to price gouge clients – those clients have other options – they can convert their CIC to another CIC issuers token.
If the CIC issuer wants to continue using CICs in order to buy labor and increase turnover and is assured, there will be some buyers in the future he is obligated to continue accepting CICs at the same rate he spent them in the first place (1:1 with National Currency).
Now given a market with many CIC issuers, if an issuer decided to price gouge clients – those clients have other options – they can convert their CIC to another CIC issuers token.
If the CIC issuer wants to continue using CICs in order to buy labor and increase turnover and is assured, there will be some buyers in the future he is obligated to continue accepting CICs at the same rate he spent them in the first place (1:1 with National Currency).
Now given a market with many CIC issuers, if an issuer decided to price gouge clients – those clients have other options – they can convert their CIC to another CIC issuers token.
If the CIC issuer wants to continue using CICs in order to buy labor and increase turnover and is assured, there will be some buyers in the future he is obligated to continue accepting CICs at the same rate he spent them in the first place (1:1 with National Currency).
If we imagine the primary market is the maize seller and buyers and the secondary market is the smart-contract (eq,1&2) then a third market could be impact investors and humanitarian aid providers. This is where long term CIC buyers and holders can come in. They can do two important things – contribute initial seed funds to reserves to offset risk for a CIC issuer and they can purchase CICs when the price is low and sell them when it is high. This second function is similar to an insurance fund which could be automated and holds both CICs and their reserve and continually readjusts the price within a band.
**If we imagine the primary market is the maize seller and buyers and the secondary market is the smart-contract (eq,1&2) then a third market could be impact investors and humanitarian aid providers. This is where long term CIC buyers and holders can come in. They can do two important things – contribute initial seed funds to reserves to offset risk for a CIC issuer and they can purchase CICs when the price is low and sell them when it is high. This second function is similar to an insurance fund which could be automated and holds both CICs and their reserve and continually readjusts the price within a band.**
If we imagine the primary market is the maize seller and buyers and the secondary market is the smart-contract (eq,1&2) then a third market could be impact investors and humanitarian aid providers. This is where long term CIC buyers and holders can come in. They can do two important things – contribute initial seed funds to reserves to offset risk for a CIC issuer and they can purchase CICs when the price is low and sell them when it is high. This second function is similar to an insurance fund which could be automated and holds both CICs and their reserve and continually readjusts the price within a band.
**Example 2 – Impact Investor:
**Example 2 – Impact Investor:**
Let’s say I am an impact investor and I see the situation happening above over a 1 year period and I believe it could happen much faster. So at the end of the 1st period when the price has dropped I decide to put in $10.0 USD into the reserve and create 14 tokens (eq1) and then wait until someone else puts in another $31.4 USD to buy more maize locally. At that point the price has climbed back up to $1USD (parity with reserve) and I cash out all my 14 tokens to receive $13.33USD. I have gotten a 33% return on my investment of $10USD and dropped the token price back down to $0.7 USD. If I take my original $10 out of the system, I'll be left with ~3USD of tokens which I can just leave there as a donation or further investment – that will continue to enable trading and circulation.**
Example 2 – Impact Investor:
Let’s say I am an impact investor and I see the situation happening above over a 1 year period and I believe it could happen much faster. So at the end of the 1st period when the price has dropped I decide to put in $10.0 USD into the reserve and create 14 tokens (eq1) and then wait until someone else puts in another $31.4 USD to buy more maize locally. At that point the price has climbed back up to $1USD (parity with reserve) and I cash out all my 14 tokens to receive $13.33USD. I have gotten a 33% return on my investment of $10USD and dropped the token price back down to $0.7 USD. If I take my original $10 out of the system, I'll be left with ~3USD of tokens which I can just leave there as a donation or further investment – that will continue to enable trading and circulation.
Example 2 – Impact Investor:
Let’s say I am an impact investor and I see the situation happening above over a 1 year period and I believe it could happen much faster. So at the end of the 1st period when the price has dropped I decide to put in $10.0 USD into the reserve and create 14 tokens (eq1) and then wait until someone else puts in another $31.4 USD to buy more maize locally. At that point the price has climbed back up to $1USD (parity with reserve) and I cash out all my 14 tokens to receive $13.33USD. I have gotten a 33% return on my investment of $10USD and dropped the token price back down to $0.7 USD. If I take my original $10 out of the system, I'll be left with ~3USD of tokens which I can just leave there as a donation or further investment – that will continue to enable trading and circulation.
Example 2 – Impact Investor:
Let’s say I am an impact investor and I see the situation happening above over a 1 year period and I believe it could happen much faster. So at the end of the 1st period when the price has dropped I decide to put in $10.0 USD into the reserve and create 14 tokens (eq1) and then wait until someone else puts in another $31.4 USD to buy more maize locally. At that point the price has climbed back up to $1USD (parity with reserve) and I cash out all my 14 tokens to receive $13.33USD. I have gotten a 33% return on my investment of $10USD and dropped the token price back down to $0.7 USD. If I take my original $10 out of the system, I'll be left with ~3USD of tokens which I can just leave there as a donation or further investment – that will continue to enable trading and circulation.
.. image:: images/blog/investment-modelling192.webp
Practically we restrict (eq2) how fast someone can cash out their tokens by having them vest over time, to ward off the case where someone drops the token price dramatically in a short period. So as an investor I can take out my profit slowly and must therefore leave in my principal for a longer period - building market confidence.
@ -348,37 +132,10 @@ Also note that if instead of $100 USD in reserve we have $100,000 USD in reserve
With a CIC portfolio of millions of dollars’ worth of many CICs there is ample room for investment and at the same time - with ~5x the circulation than National Currency we could see billions of dollars of trade in marginalized communities. CICs incentivize wealth creation with minimal capital because they drive internal trade and penalize external trade. Users have abundant internal liquidity, but if a CIC holder really needs reserve (dollars), they can get them (at a small premium which they can afford). All the equations and graphs here can be found on `GitHub here. <http://github.com/GrassrootsEconomics/CIC-Docs>`_.
`#investment <https://www.grassrootseconomics.org/blog/hashtags/investment>`_ `#modeling <https://www.grassrootseconomics.org/blog/hashtags/modeling>`_ `#bondingcurves <https://www.grassrootseconomics.org/blog/hashtags/bondingcurves>`_ `#CIC <https://www.grassrootseconomics.org/blog/hashtags/CIC>`_
With a CIC portfolio of millions of dollars’ worth of many CICs there is ample room for investment and at the same time - with ~5x the circulation than National Currency we could see billions of dollars of trade in marginalized communities. CICs incentivize wealth creation with minimal capital because they drive internal trade and penalize external trade. Users have abundant internal liquidity, but if a CIC holder really needs reserve (dollars), they can get them (at a small premium which they can afford). All the equations and graphs here can be found on GitHub here.
`GitHub here. <http://github.com/GrassrootsEconomics/CIC-Docs>`_
#investment #modeling #bondingcurves #CIC
#investment #modeling #bondingcurves #CIC
#investment #modeling #bondingcurves #CIC
`#investment <https://www.grassrootseconomics.org/blog/hashtags/investment>`_
#investment
`#modeling <https://www.grassrootseconomics.org/blog/hashtags/modeling>`_
#modeling
`#bondingcurves <https://www.grassrootseconomics.org/blog/hashtags/bondingcurves>`_
#bondingcurves
`#CIC <https://www.grassrootseconomics.org/blog/hashtags/CIC>`_
#CIC

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@ -1,6 +1,6 @@
:title: Kakuma Refugee Testimonial
:author: Amina Godana and Janet Akinyi Otieno
:date: Mar 28
:date: Mar 28 2021
:slug: kakuma-refugee
:summary: Nyota explains below how after living in the refugee camp for 10 years, Sarafu has helped her to maintain trade with her community and grow
@ -8,26 +8,23 @@
After hearing about Sarafu local leaders of a small community group started building a support network in their community. Nyota explains below how after living in the refugee camp for 10 years, Sarafu has helped her to maintain trade with her community and grow their collective farming even when there are no shillings available.
After `hearing about Sarafu <https://www.grassrootseconomics.org/post/refugee-economics-in-kakuma-kenya>`_ local leaders of a small community group started building a support network in their community. Nyota explains below how after living in the refugee camp for 10 years, Sarafu has helped her to maintain trade with her community and grow their collective farming even when there are no shillings available.
.. raw:: html
<iframe width="740" height="416" src="https://www.youtube.com/embed/9F71cGmPfbM" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
|
.. image:: images/blog/kakuma-refugee1.webp
After hearing about Sarafu local leaders of a small community group started building a support network in their community. Nyota explains below how after living in the refugee camp for 10 years, Sarafu has helped her to maintain trade with her community and grow their collective farming even when there are no shillings available.
`hearing about Sarafu <https://www.grassrootseconomics.org/post/refugee-economics-in-kakuma-kenya>`_
.. image:: images/blog/kakuma-refugee30.webp
Here the `FHE group in Kakuma <https://www.grassrootseconomics.org/post/refugee-economics-in-kakuma-kenya>`_ are meeting to talk about community farming and community inclusion currencies which they learned more about after a trip to Siaya Kenya..
Here the FHE group in Kakuma are meeting to talk about community farming and community inclusion currencies which they learned more about after a trip to Siaya Kenya..
Here the FHE group in Kakuma are meeting to talk about community farming and community inclusion currencies which they learned more about after a trip to Siaya Kenya..
`FHE group in Kakuma <https://www.grassrootseconomics.org/post/refugee-economics-in-kakuma-kenya>`_
.. image:: images/blog/kakuma-refugee50.webp
@ -42,3 +39,6 @@ Here the Kaukuma community leaders traveled to Siaya to learn about how Sarafu i
This is the beginning of a new community farm in Siaya where the Kakuma team was learning. The poster is showing the intention of the community farm and soil regenerative practices that are being used. Below is a testimonial of one of the farmers in Siaya that taught the Kakuma refugees to follow their example to build a strong local economy.
.. raw:: html
<iframe width="740" height="416" src="https://www.youtube.com/embed/mlcov4Gy_mI" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>

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.. image:: images/blog/kangemi-pesa-launch1.webp

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:date: Feb 9, 2020
:slug: kenyan-women
:summary: Could the IMF and Commercial banks learn from women in rural Kenya how to create a decentralized and de-risked (transparently 100% backed) c
:summary: Could the IMF and Commercial banks learn from women in rural Kenya how to create a decentralized and de-risked (transparently 100% backed)
` <http://www.imf.org/en/Publications/WP/Issues/2019/12/20/Money-Creation-in-Fiat-and-Digital-Currency-Systems-48843>`_
.. image:: images/blog/kenyan-women18.webp
.. image:: images/blog/kenyan-women1.webp
IMF's latest working paper shows that debt creation is the main source of money creation - commercial banks (not central banks) create and inflate the money supply through loan issuance based on market demand. The paper goes on to establish the possibility of Central Bank Digital Currencies (CBDC) echoing a the IMF's wish for a Revised Chicago Plan.
IMF's latest `working paper <http://www.imf.org/en/Publications/WP/Issues/2019/12/20/Money-Creation-in-Fiat-and-Digital-Currency-Systems-48843>`_ shows that debt creation is the main source of money creation - commercial banks (not central banks) create and inflate the money supply through loan issuance based on market demand. The paper goes on to establish the possibility of Central Bank Digital Currencies (CBDC) echoing a the IMF's wish for a *Revised* Chicago Plan.
IMF's latest working paper shows that debt creation is the main source of money creation - commercial banks (not central banks) create and inflate the money supply through loan issuance based on market demand. The paper goes on to establish the possibility of Central Bank Digital Currencies (CBDC) echoing a the IMF's wish for a Revised Chicago Plan.
*IMF's latest working paper shows that debt creation is the main source of money creation - commercial banks (not central banks) create and inflate the money supply through loan issuance based on market demand. The paper goes on to establish the possibility of Central Bank Digital Currencies (CBDC) echoing a the IMF's wish for a Revised Chicago Plan.*
IMF's latest working paper shows that debt creation is the main source of money creation - commercial banks (not central banks) create and inflate the money supply through loan issuance based on market demand. The paper goes on to establish the possibility of Central Bank Digital Currencies (CBDC) echoing a the IMF's wish for a Revised Chicago Plan.
`working paper <http://www.imf.org/en/Publications/WP/Issues/2019/12/20/Money-Creation-in-Fiat-and-Digital-Currency-Systems-48843>`_
"This is a starting point to explain the systemic flaw of our monetary system, and recurring economic crises pattern." - Vincentius Arnold
`Community Inclusion Currencies <https://www.grassrootseconomics.org/whitepaper>`_ built on Central Bank Digital Currency reserves would de-risk and decentralization the commercial banking system. If Central Banks were required to hold 100% reserve in CDBC and issue their own inter-operable credits and not issue / inflate National Currency like they do now - they might use something similar to Community Inclusion Currencies.
Community Inclusion Currencies built on Central Bank Digital Currency reserves would de-risk and decentralization the commercial banking system. If Central Banks were required to hold 100% reserve in CDBC and issue their own inter-operable credits and not issue / inflate National Currency like they do now - they might use something similar to Community Inclusion Currencies.
`Community Inclusion Currencies <https://www.grassrootseconomics.org/whitepaper>`_
Some highlights of the IMF working paper include:
Some highlights of the IMF working paper include:
Some highlights of the IMF working paper include:
* "the fact that the money stock is endogenously and elastically driven by demand and constrained loosely by regulation.
* "we highlight that liquid funds are required to back the transfer of newlycreated, initially illiquid loans and deposits in a multi-bank system. Liquid funding needs do not negate the fact that banks create money “out of nothing.”
* "how Central Bank Digital Currency (CBDC) systems would be designed in terms of credit provision,which, if backed 100 percent by the new digital currency, would resemble the Chicago plan ofthe 1930s
* "the fact that the money stock is endogenously and elastically driven by demand and constrained **loosely** by regulation.
* "we highlight that liquid funds are required to back the transfer of newlycreated, initially illiquid loans and deposits in a multi-bank system. Liquid funding needs do not negate the fact that **banks create money “out of nothing.”**
* "how Central Bank Digital Currency (CBDC) systems would be designed in terms of credit provision,which, if backed 100 percent by the new digital currency, would resemble the Chicago plan of the 1930s
For a primer on where the IMF is going with this, they released a Revised Chicago Plan in 2012:
For a primer on where the IMF is going with this, they released a Revised Chicago Plan in 2012:
For a primer on where the IMF is going with this, they `Revised Chicago Plan in 2012 <http://en.wikipedia.org/wiki/The_Chicago_Plan_Revisited>`_:
`Revised Chicago Plan in 2012 <http://en.wikipedia.org/wiki/The_Chicago_Plan_Revisited>`_
"The basic idea is that banks should be required to have full coverage for money they lend; this is called 100% reserve banking, which would replace the fractional reserve banking system and reduce inflation."
**How does this relate to Community Inclusion Currencies (CICs)?**
**How does this relate to Community Inclusion Currencies (CICs)?**
CICs are 100% backed by reserve - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a variable value based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.
**CICs are 100% backed by reserve - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a variable value based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.**
CICs are **100% backed by reserve** - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a **variable value** based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.
CICs are 100% backed by reserve - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a variable value based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.
*CICs are 100% backed by reserve - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a variable value based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.*
CICs are 100% backed by reserve - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a variable value based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.
**CICs are 100% backed by reserve - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a variable value based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.**
CICs are 100% backed by reserve - (ala the Revised Chicago Plan via a synthetic National Currency ala DAI via Maker DAO and AMA). The reserve is leveraged into a credit supply (CICs) with a variable value based on bonding curves originally created by Eyal Hertzog which he calls the Bancor Protocol.
If banks were to create credit in the same manner of CICs it would mean that they would lock 100% reserves into a verified on-chain collateral (no more loose regulation). A bank with 1 Million USD of reserves would be able to issue 4 Million Tokens. These tokens would have a variable rate depending on the reserve behind them. We would not call them US Dollars or Kenyan Shillings - they would be the Banks credit (Wells Fargo Cash, Barclays Bucks, etc) and only have a one-to-one value with National currency IF they have sufficient reserve.
**If banks were to create credit in the same manner of CICs it would mean that they would lock 100% reserves into a verified on-chain collateral (no more loose regulation). A bank with 1 Million USD of reserves would be able to issue 4 Million Tokens. These tokens would have a variable rate depending on the reserve behind them. We would not call them US Dollars or Kenyan Shillings - they would be the Banks credit (Wells Fargo Cash, Barclays Bucks, etc) and only have a one-to-one value with National currency IF they have sufficient reserve.**
If banks were to create credit in the same manner of CICs it would mean that they would lock 100% reserves into a verified on-chain collateral (no more loose regulation). A bank with 1 Million USD of reserves would be able to issue 4 Million Tokens. These tokens would have a variable rate depending on the reserve behind them. We would not call them US Dollars or Kenyan Shillings - they would be the Banks credit (Wells Fargo Cash, Barclays Bucks, etc) and only have a one-to-one value with National currency IF they have sufficient reserve.
**If banks were to create credit in the same manner of CICs it would mean that they would lock 100% reserves into a verified on-chain collateral (no more loose regulation). A bank with 1 Million USD of reserves would be able to issue 4 Million Tokens. These tokens would have a variable rate depending on the reserve behind them. We would not call them US Dollars or Kenyan Shillings - they would be the Banks credit (Wells Fargo Cash, Barclays Bucks, etc) and only have a one-to-one value with National currency IF they have sufficient reserve.**
If banks were to create credit in the same manner of CICs it would mean that they would lock 100% reserves into a verified on-chain collateral (no more loose regulation). A bank with 1 Million USD of reserves would be able to issue 4 Million Tokens. These tokens would have a variable rate depending on the reserve behind them. We would not call them US Dollars or Kenyan Shillings - they would be the Banks credit (Wells Fargo Cash, Barclays Bucks, etc) and only have a one-to-one value with National currency **IF they have sufficient reserve.**
What is important about this concept is that it de-risks credit issuance and can be done ala secure and transparent blockchain contracts. What is revolutionary about it is that women's groups in Kenya are already doing this. They are locking Kenyan shillings (donor supported) and creating their own credit systems (unique to their village) - without inflation. $100 USD locked into such a CIC reserve creates 400 tokens that are used as a local medium of exchange and being valued locally as a social credit 1:1 with the National Currency. This provides a substitute for lacking Kenyan Shillings - while still allowing exchange into Kenyan Shillings and market stabilization. If a CIC's reserves are depleted and the issuer (a group of women or even a bank) is offering services, market forces will rebuild that reserve in order to mint CICs and purchase those services. CICs are essentially a share of the common's economy using them.
What is important about this concept is that it **de-risks credit issuance** and can be done ala secure and transparent blockchain contracts. **What is revolutionary about it is that women's groups in Kenya are already doing this**. They are locking Kenyan shillings (donor supported) and creating their own credit systems (unique to their village) - without inflation. $100 USD locked into such a CIC reserve creates 400 tokens that are used as a local medium of exchange and being valued locally as a social credit 1:1 with the National Currency. This provides a substitute for lacking Kenyan Shillings - while still allowing exchange into Kenyan Shillings and market stabilization. If a CIC's reserves are depleted and the issuer (a group of women or even a bank) is offering services, market forces will rebuild that reserve in order to mint CICs and purchase those services. CICs are essentially a share of the common's economy using them.
**What is important about this concept is that it de-risks credit issuance and can be done ala secure and transparent blockchain contracts. What is revolutionary about it is that women's groups in Kenya are already doing this. They are locking Kenyan shillings (donor supported) and creating their own credit systems (unique to their village) - without inflation. $100 USD locked into such a CIC reserve creates 400 tokens that are used as a local medium of exchange and being valued locally as a social credit 1:1 with the National Currency. This provides a substitute for lacking Kenyan Shillings - while still allowing exchange into Kenyan Shillings and market stabilization. If a CIC's reserves are depleted and the issuer (a group of women or even a bank) is offering services, market forces will rebuild that reserve in order to mint CICs and purchase those services. CICs are essentially a share of the common's economy using them.**
What is important about this concept is that it de-risks credit issuance and can be done ala secure and transparent blockchain contracts. What is revolutionary about it is that women's groups in Kenya are already doing this. They are locking Kenyan shillings (donor supported) and creating their own credit systems (unique to their village) - without inflation. $100 USD locked into such a CIC reserve creates 400 tokens that are used as a local medium of exchange and being valued locally as a social credit 1:1 with the National Currency. This provides a substitute for lacking Kenyan Shillings - while still allowing exchange into Kenyan Shillings and market stabilization. If a CIC's reserves are depleted and the issuer (a group of women or even a bank) is offering services, market forces will rebuild that reserve in order to mint CICs and purchase those services. CICs are essentially a share of the common's economy using them.
**What is important about this concept is that it de-risks credit issuance and can be done ala secure and transparent blockchain contracts. What is revolutionary about it is that women's groups in Kenya are already doing this. They are locking Kenyan shillings (donor supported) and creating their own credit systems (unique to their village) - without inflation. $100 USD locked into such a CIC reserve creates 400 tokens that are used as a local medium of exchange and being valued locally as a social credit 1:1 with the National Currency. This provides a substitute for lacking Kenyan Shillings - while still allowing exchange into Kenyan Shillings and market stabilization. If a CIC's reserves are depleted and the issuer (a group of women or even a bank) is offering services, market forces will rebuild that reserve in order to mint CICs and purchase those services. CICs are essentially a share of the common's economy using them.**
What is important about this concept is that it de-risks credit issuance and can be done ala secure and transparent blockchain contracts. What is revolutionary about it is that women's groups in Kenya are already doing this. They are locking Kenyan shillings (donor supported) and creating their own credit systems (unique to their village) - without inflation. $100 USD locked into such a CIC reserve creates 400 tokens that are used as a local medium of exchange and being valued locally as a social credit 1:1 with the National Currency. This provides a substitute for lacking Kenyan Shillings - while still allowing exchange into Kenyan Shillings and market stabilization. If a CIC's reserves are depleted and the issuer (a group of women or even a bank) is offering services, market forces will rebuild that reserve in order to mint CICs and purchase those services. CICs are essentially a share of the common's economy using them.

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.. image:: images/blog/kenyas-food24.webp
.. image:: images/blog/kenyas-food1.webp
@ -36,36 +20,16 @@ Amazing as it may sound Kenya exports over 3 billion dollars worth of food!
The World Food Program says that Kenya has a yearly need of $300 million USD to pay for food aid, while exporters brag that Kenya exported roughly $3 billion USD in food products in 2010.
The World Food Program says that Kenya has a yearly need of $300 million USD to pay for food aid, while exporters brag that Kenya exported roughly $3 billion USD in food products in 2010.
The World Food Program says that Kenya has a yearly need of $300 million USD to pay for food aid, while exporters brag that Kenya exported roughly $3 billion USD in food products in 2010.
`says <http://www.wfp.org/countries/kenya/operations>`_ `brag <http://www.indexmundi.com/trade/exports/?country=ke>`_
The World Food Program `says <http://www.wfp.org/countries/kenya/operations>`_ that Kenya has a yearly need of $300 million USD to pay for food aid, while exporters `brag <http://www.indexmundi.com/trade/exports/?country=ke>`_ that Kenya exported roughly $3 billion USD in food products in 2010.
For every one dollar in food-aid Kenya receives, it exports ten dollars of food! How can this be?
* When fertile land in Kenya is extremely scarce (less than 10% arable land) and over 1 million people in the country are receiving food aid each year?
`scarce <http://en.worldstat.info/Asia/Kenya/Land>`_ * In a country experiencing mass poverty, where does this $3 billion USD go?
`mass poverty <http://www.unicef.org/kenya/overview_4616.html>`_ * If Kenya can produce that much food and EXPORT it ... (The cultivation of fruits, vegetables and flowers alone earned
* When fertile land in Kenya is extremely `scarce <http://en.worldstat.info/Asia/Kenya/Land>`_ (less than 10% arable land) and over 1 million people in the country are receiving food aid each year?
* In a country experiencing `mass poverty <http://www.unicef.org/kenya/overview_4616.html>`_ , where does this $3 billion USD go?
* If Kenya can produce that much food and EXPORT it ... (The cultivation of fruits, vegetables and flowers alone earned
` <http://allafrica.com/stories/201209041174.html>`_
USD in 2011.) Why does it need food aid every year?
@ -91,103 +55,47 @@ Simply put, the companies that are exporting the food, flowers and coffee are mo
Is Kenya becoming more and more of a Banana Republic and following the poor example of countries like Guatemala?
Is Kenya becoming more and more of a `Banana Republic <http://en.wikipedia.org/wiki/Banana_republic>`_ and following the poor example of countries like `Guatemala <http://www.commondreams.org/headline/2013/01/09-6>`_ ?
Is Kenya becoming more and more of a Banana Republic and following the poor example of countries like Guatemala?
Is Kenya becoming more and more of a Banana Republic and following the poor example of countries like Guatemala?
`Banana Republic <http://en.wikipedia.org/wiki/Banana_republic>`_ `Guatemala <http://www.commondreams.org/headline/2013/01/09-6>`_
How does the Kenyan political class allow this? `Ministers of Agriculture <http://en.wikipedia.org/wiki/Ministry_of_Agriculture_(Kenya)>`_ in Kenya have a long history of making deals that favor large corporations and not common Kenyans. Is this unfettered capitalism? Can a corporation buy up as much land as they want in Kenya, give Kenyans a meager wage and pay off the correct politicians, and walk away with millions in profit?
How does the Kenyan political class allow this? The Ministers of Agriculture in Kenya have a long history of making deals that favor large corporations and not common Kenyans. Is this unfettered capitalism? Can a corporation buy up as much land as they want in Kenya, give Kenyans a meager wage and pay off the correct politicians, and walk away with millions in profit?
How does the Kenyan political class allow this? The Ministers of Agriculture in Kenya have a long history of making deals that favor large corporations and not common Kenyans. Is this unfettered capitalism? Can a corporation buy up as much land as they want in Kenya, give Kenyans a meager wage and pay off the correct politicians, and walk away with millions in profit?
`Ministers of Agriculture <http://en.wikipedia.org/wiki/Ministry_of_Agriculture_(Kenya)>`_
If NGO's and world-wide aid organizations see the amount of food being exported from Kenya, why are they still sending aid?
Alan Coyne an international aid worker and human rights activist gives aid organizations the benefit of the doubt by stating, "corruption in Kenya is so ingrained that aid organizations like UNFP can do nothing against it. So they simply give food. Not only is the problem corruption but political power and land ownership has been handed down from generation to generation." Indeed, the richest man in Kenya is Uhuru Kenyata, the son of the first president and owner of at least 500,000 acres. (Currently running for president while also facing charges at the ICC).
`Price Waterhouse Coopers <http://www.pwc.com/gx/en/economic-crime-survey/download-economic-crime-people-culture-controls.jhtml>`_ found Kenya to be the most financially corrupt country in the world; yes, above Nigeria and Mexico. Transparency International lists Kenya among the worst countries for corruption. `UN reports <http://hdrstats.undp.org/en/countries/profiles/ken.html>`_ also list Kenya as having the biggest inequalities in Africa.
Price Waterhouse Coopers found Kenya to be the most financially corrupt country in the world; yes, above Nigeria and Mexico. Transparency International lists Kenya among the worst countries for corruption. UN reports also list Kenya as having the biggest inequalities in Africa.
Price Waterhouse Coopers found Kenya to be the most financially corrupt country in the world; yes, above Nigeria and Mexico. Transparency International lists Kenya among the worst countries for corruption. UN reports also list Kenya as having the biggest inequalities in Africa.
`Price Waterhouse Coopers <http://www.pwc.com/gx/en/economic-crime-survey/download-economic-crime-people-culture-controls.jhtml>`_ `UN reports <http://hdrstats.undp.org/en/countries/profiles/ken.html>`_
Regardless of how we got here, current solutions, like food aid, are not solving the problem.
Regardless of how we got here, current solutions, like food aid, are not solving the problem.
So what are some solutions?
* Tackle corruption as the major cause of all of Kenya's development problems. Promote Kenyans to take an active roll in making sure Kenyans are not being exploited and can grow their own food. Kenya needs accountable leadership: Look at how both the US and Japan subsidize their farmers and limit imports.
* Kenya instigates regional and a national complementary currency systems to incubate and promote local production similar to the Swiss WIR.
* Kenyans take over management and control of foreign owned corporations; promoting Cooperatives like the Rumuruti Forest Association.
* Businesses make sure that companies are majority locally owned, and are socially responsible to make sure there is no need for food aid.
* International food aid stops! Food aid for Kenya should come from Kenya ... period. Obviously there is enough food being produced in Kenya to feed Kenyans. Aid food kills the market for local industries.
* Foreign aid funding is directed solely at fighting corruption, building cooperatives and supporting Kenyan-owned businesses.
* Tackle corruption as the major cause of all of Kenya's development problems. Promote Kenyans to take an active roll in making sure Kenyans are not being exploited and can grow their own food. Kenya needs accountable leadership: Look at how both the US and Japan subsidize their farmers and limit imports.
* Kenya instigates regional and a national complementary currency systems to incubate and promote local production similar to the Swiss WIR.
* Kenyans take over management and control of foreign owned corporations; promoting Cooperatives like the Rumuruti Forest Association.
* Businesses make sure that companies are majority locally owned, and are socially responsible to make sure there is no need for food aid.
* International food aid stops! Food aid for Kenya should come from Kenya ... period. Obviously there is enough food being produced in Kenya to feed Kenyans. Aid food kills the market for local industries.
* Foreign aid funding is directed solely at fighting corruption, building cooperatives and supporting Kenyan-owned businesses.
Lets put a stop to all this nonsense that is causing more and more people to suffer!
`#environment <https://www.grassrootseconomics.org/blog/hashtags/environment>`_ `#agriculture <https://www.grassrootseconomics.org/blog/hashtags/agriculture>`_ `#corruption <https://www.grassrootseconomics.org/blog/hashtags/corruption>`_ `#aid <https://www.grassrootseconomics.org/blog/hashtags/aid>`_
#environment #agriculture #corruption #aid
#environment #agriculture #corruption #aid
#environment #agriculture #corruption #aid
`#environment <https://www.grassrootseconomics.org/blog/hashtags/environment>`_
#environment
`#agriculture <https://www.grassrootseconomics.org/blog/hashtags/agriculture>`_
#agriculture
`#corruption <https://www.grassrootseconomics.org/blog/hashtags/corruption>`_
#corruption
`#aid <https://www.grassrootseconomics.org/blog/hashtags/aid>`_
#aid

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@ -68,13 +68,8 @@ Many thanks to our partners Nyendo-lernen, Lush Cosmetics and DOEN for making th
#kibera #nairobi
`#kibera <https://www.grassrootseconomics.org/blog/hashtags/kibera>`_
`#kibera <https://www.grassrootseconomics.org/blog/hashtags/kibera>`_ `#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_
#kibera
`#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_
#nairobi

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:author: Isavary Khabuqwi
:date: Feb 10
:slug: kilifi-kenya
:modified: Feb 12
:modified: Feb 12 2021
:summary: The current reality is that following Covid-19 many have fallen deeper and deeper into debt. However, most individuals would still not...
:tags: Kilifi,Kenya,debt,Basic Income,community currency
@ -12,7 +12,7 @@ The current reality is that following Covid-19 many have fallen deeper and deepe
.. image:: images/blog/kilifi-kenya21.webp
.. image:: images/blog/kilifi-kenya1.webp
@ -25,6 +25,7 @@ The implementation of a basic income program in Kilifi, as developed by Grassroo
What Sarafu means for me…
*******************************
@ -37,6 +38,7 @@ When a Kilfi resident, like Pascaline Wanjiku, accepts to receive Sarafu, she of
Market Days
***************
@ -52,12 +54,7 @@ Kilifians come to weekly Sarafu market days to sell goods and services using bas
Anyone can receive a basic income in Sarafu by dialing *384*96# or call 0757628885 for more information. This national service is free and available to all Kenyans thanks to the Red Cross. Kilifians who don’t need a basic income, often support others by giving theirs to those in need and accepting it for goods and services or in place of debt.
**Anyone can receive a basic income in Sarafu by dialing *384*96# or call 0757628885 for more information. This national service is free and available to all Kenyans thanks to the Red Cross. Kilifians who don’t need a basic income, often support others by giving theirs to those in need and accepting it for goods and services or in place of debt.**
Anyone can receive a basic income in Sarafu by dialing *384*96# or call 0757628885 for more information. This national service is free and available to all Kenyans thanks to the Red Cross. Kilifians who don’t need a basic income, often support others by giving theirs to those in need and accepting it for goods and services or in place of debt.
Anyone can receive a basic income in Sarafu by dialing *384*96# or call 0757628885 for more information. **This national service is free and available to all Kenyans thanks to the Red Cross**. Kilifians who don’t need a basic income, often support others by giving theirs to those in need and accepting it for goods and services or in place of debt.

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Five Community Currency (CC) trading business networks in Kenya have started their end of the year activities, using collected membership dues in CC as a community fund to care for the needy. A lot has happened this year. With only ~2,000 Euros worth of CC in circulation between five networks, we're seeing as much as 350 Euros of daily trade. This makes a huge impact on the lives of small businesses and schools in informal settlements.
Trade Volume
@ -26,120 +23,67 @@ Trade Volume
* Amount in circulation: 216,000 Kenyan Shillings (1,911 EUR)
* Daily Circulation estimate in November. 39,430 Kenyan Shillings. This is 18% of total in circulation traded daily. (358 EUR)* This is a low estimate for average yearly as we approach holiday seasons.
* Monthly Circulation: ~1,118,000 Kenyan Shillings (10,750 EUR)
* Yearly Circulation: ~14,000,000 Kenyan Shillings (129,000 EUR) This as new trade within five low income informal settlements.
* Amount in circulation: 216,000 Kenyan Shillings (1,911 EUR)
* Daily Circulation estimate in November. 39,430 Kenyan Shillings. This is 18% of total in circulation traded daily. (358 EUR)* This is a low estimate for average yearly as we approach holiday seasons.
* Monthly Circulation: ~1,118,000 Kenyan Shillings (10,750 EUR)
* Yearly Circulation: ~14,000,000 Kenyan Shillings (129,000 EUR) This as new trade within five low income informal settlements.
The amount of trade is more than 200% higher than the amount of funding it has taken to setup these programs and will continue to grow.
CC Users
CC Users
CC Users
* Business Network Members: 599
* Schools: 18
* Teachers: 72
* Community Fund beneficiaries outside of Networks( such as service work participants): ~500.
* Saving & Loan Members: ~100
Secondary Users
* Business Network Members: 599
* Schools: 18
* Teachers: 72
* Community Fund beneficiaries outside of Networks( such as service work participants): ~500.
* Saving & Loan Members: ~100
Secondary Users
Secondary Users
* Students: 540
* Family members: ~3000
* Surrounding communities depending on businesses and schools: 100,000 (at roughly 20k people in each community around the shops)
* Students: 540
* Family members: ~3000
* Surrounding communities depending on businesses and schools: 100,000 (at roughly 20k people in each community around the shops)
Typical CC Uses
General Trade
* Increases to sales and customers
* Not going hungry and stability during poor markets
* Offering CC as change during National Currency sales.
General Trade
General Trade
* Increases to sales and customers
* Not going hungry and stability during poor markets
* Offering CC as change during National Currency sales.
Schools
Schools
* Higher enrollment and less student debt
* Teacher salary advances
Schools
* Higher enrollment and less student debt
* Teacher salary advances
Open Air Markets
Open Air Markets
Open Air Markets
* Selling more stock and getting new clients
* Public usage of CC during event
* Selling more stock and getting new clients
* Public usage of CC during event
Savings and Loan
* Ability to save and invest. Networks savings increasing.
Savings and Loan
Savings and Loan
* Ability to save and invest. Networks savings increasing.
Community Services
Community Services
Community Services
* Waste Collection, care for the needy, sports events, networking and cooking, school events.
* Waste Collection, care for the needy, sports events, networking and cooking, school events.

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.. image:: images/blog/lindi-and1.webp
@ -20,9 +16,6 @@ The 4th and 5th Kenyan Community Currencies were launched last week within a spa
These five Community Currencies in Kenya are significant not only because they network and empower more than 500 small businesses and schools, but also because they are able to grow horizontally by demonstrating to their neighbors how the programs work and what benefits they have. Each community currency is owned and operated by Community Based Organizations (CBOs) which are made up of small businesses and schools in the area that back and issue the currency.
@ -44,33 +37,17 @@ Ng'ombeni-Pesa or (Cow Money) comes the the Kwa Ng'ombe area of Mikindani, Momba
For their help in making these two currencies a reality we offer a special thanks to:
* For the Lindi and Ng'ombeni Business Networks - for taking on these programs and showing us how to use them.
* Nyendo-lernen who are dedicated to helping Kenyan schools and are featured on the Lindi and Ng'ombeni vouchers.
* Chiemgauer - for helping with the printing and specialty paper
* Stichen DOEN - who supported both currencies through implementation.
* LUSH Cosmetics - who assisted with Kangemi and Lindi-Pesa
* Carol Opondo and Tatjana Posavec for their artistic talents doing the original art and graphic design for the currencies.
* For the Grassroots Economics Team - especially Robin Gerbaux for his work on the directories and user guide - who will be heading back to France in September.
For their help in making these two currencies a reality we offer a special thanks to:
South Africa: This last month the 2nd Community Currency following the original Bangla-Pesa model was launched in Kokstad, South Africa. We're extremely proud of the `FlowAfrica.org <http://FlowAfrica.org>`_ team on there work there and hope they can keep up the momentum.
For their help in making these two currencies a reality we offer a special thanks to:
* For the Lindi and Ng'ombeni Business Networks - for taking on these programs and showing us how to use them.
* Nyendo-lernen who are dedicated to helping Kenyan schools and are featured on the Lindi and Ng'ombeni vouchers.
* Chiemgauer - for helping with the printing and specialty paper
* Stichen DOEN - who supported both currencies through implementation.
* LUSH Cosmetics - who assisted with Kangemi and Lindi-Pesa
* Carol Opondo and Tatjana Posavec for their artistic talents doing the original art and graphic design for the currencies.
* For the Grassroots Economics Team - especially Robin Gerbaux for his work on the directories and user guide - who will be heading back to France in September.
South Africa: This last month the 2nd Community Currency following the original Bangla-Pesa model was launched in Kokstad, South Africa. We're extremely proud of the FlowAfrica.org team on there work there and hope they can keep up the momentum.
South Africa: This last month the 2nd Community Currency following the original Bangla-Pesa model was launched in Kokstad, South Africa. We're extremely proud of the FlowAfrica.org team on there work there and hope they can keep up the momentum.
`FlowAfrica.org <http://FlowAfrica.org>`_

12
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@ -8,7 +8,7 @@
.. image:: images/blog/lindi-business18.webp
.. image:: images/blog/lindi-business1.webp
@ -28,17 +28,11 @@ GE finds it's important to support the women and men through Gumbaru school. By
`#education <https://www.grassrootseconomics.org/blog/hashtags/education>`_ `#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_
#education #sarafu
`#education <https://www.grassrootseconomics.org/blog/hashtags/education>`_
#education
`#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_
#sarafu

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.. raw:: html
<iframe width="740" height="416" src="https://www.youtube.com/embed/lBorhuLuzek" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
@ -16,24 +17,13 @@ We're very happy to start the year with a visit from our Director of Risk Manage
As of 2016 there are thousands Complementary Currency Programs worldwide. Given this is still an unregulated industry the collateral requirements of the organization issuing community currency don't really exist. In the worst cases organizations can issue much more credit than they have any tangible backing for.
As of 2016 there are thousands Complementary Currency Programs worldwide. Given this is still an unregulated industry the collateral requirements of the organization issuing community currency don't really exist. In the worst cases organizations can issue much more credit than they have any tangible backing for.
As of 2016 there are thousands Complementary Currency Programs worldwide. Given this is still an unregulated industry the collateral requirements of the organization issuing community currency don't really exist. In the worst cases organizations can issue much more credit than they have any tangible backing for.
* Generally all this credit ends up at the most popular shops
* Those shops stops accepting it because they can't use it fast enough.
* Other shops start to default – causing a chain reaction (reputation risk).
* If everyone then wants to cash out – there isn't even enough euros (collateral) to satisfy them. This is basic Liquidity Risk. The organization is acting like an unregulated bank and issuing tons of uncollateralized credit to consumers.
* Generally all this credit ends up at the most popular shops
* Those shops stops accepting it because they can't use it fast enough.
* Other shops start to default – causing a chain reaction (reputation risk).
* If everyone then wants to cash out – there isn't even enough euros (collateral) to satisfy them. This is basic Liquidity Risk. The organization is acting like an unregulated bank and issuing tons of uncollateralized credit to consumers.
If a community currency is being used in a commercial business – there must be some assurance that, that business won't get stuck with too much community currency. In the simulation there are enough cascading defaults that there is a critical system failure. Essentially the currency was a bubble that could not be sustained. This is bad for businesses and the economy at large.
@ -46,18 +36,11 @@ When we first started we used mutual guarantee. Where members would back other m
So what do we recommend?
* First that all currency is backed fully in cooperatively owned liquid and physical assets. This means creating cooperative businesses in these communities that offer security for the currency.
* Second we allow for a steam release valve - which we call Credit-clearing. If you keep adding heat to a system – it gets too hot and needs a way to cool off – or it will explode. If business such as schools collect too much currency over a short period of time, we give them a way to exchange for national currency or other assets that the cooperative keeps as collateral.
* The amount of liquid (cash) collateral vs Asset collateral (stock or other assets) that needs to be kept on hand for credit-clearing is based on a risk analysis. We're lucky to have a risk manager on our board that can set our standards higher than those of the banking industry.
So what do we recommend?
`#liquidityrisk <https://www.grassrootseconomics.org/blog/hashtags/liquidityrisk>`_
So what do we recommend?
* First that all currency is backed fully in cooperatively owned liquid and physical assets. This means creating cooperative businesses in these communities that offer security for the currency.
* Second we allow for a steam release valve - which we call Credit-clearing. If you keep adding heat to a system – it gets too hot and needs a way to cool off – or it will explode. If business such as schools collect too much currency over a short period of time, we give them a way to exchange for national currency or other assets that the cooperative keeps as collateral.
* The amount of liquid (cash) collateral vs Asset collateral (stock or other assets) that needs to be kept on hand for credit-clearing is based on a risk analysis. We're lucky to have a risk manager on our board that can set our standards higher than those of the banking industry.
`#liquidityrisk <https://www.grassrootseconomics.org/blog/hashtags/liquidityrisk>`_
#liquidityrisk

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@ -10,47 +10,30 @@
So far, after roughly 6 months of piloting we've witnessed 40,000 blockchain transactions! So what does that actually mean?
4,065 Kenyans representing families living below the poverty line have traded 3,263,081 Kenyan Shillings worth of goods and services (about 30,000 USD) with each other - ensuring more stable trade than with the often scarce Kenyan Shillings. Using their community currencies, like Miyani-Pesa on the Sarafu network, people have supported themselves and bought from each other:
.. image:: images/blog/looking-back27.webp
* 2,567 daily farming wages have been paid
* 54,928 servings of vegetables
* 5,361 kilos of flour
* 2,506 rides on local transport
* 843 school tuition payments
* 484,404 liters of water
* 59 visits to the doctor
**Note these are general services and products among categories of vendors - many more are being traded.*
.. image:: images/blog/looking-back1.webp
* 2,567 daily farming wages have been paid
* 54,928 servings of vegetables
* 5,361 kilos of flour
* 2,506 rides on local transport
* 843 school tuition payments
* 484,404 liters of water
* 59 visits to the doctor
* *Note these are general services and products among categories of vendors - many more are being traded.*
(Chart shows enrollment in our pilot programs. Each user is given, free of charge, 400 Community Currency Tokens with which to trade.)
Most if not at all of these purchases would not have happened otherwise. We're encouraged by community members embracing community currencies to access resources that would otherwise go underutilized, and taking the opportunity to save their valuable Kenyan Shillings. This translates to children staying in school, families being better nourished, workers earning a reliable income, and so much more.
What are we looking forward to:
@ -73,130 +56,6 @@ Community currencies are well-named, in that it takes an entire network of peopl
`#quarterlyupdate <https://www.grassrootseconomics.org/blog/hashtags/quarterlyupdate>`_ `#blockchain <https://www.grassrootseconomics.org/blog/hashtags/blockchain>`_ `#transactions <https://www.grassrootseconomics.org/blog/hashtags/transactions>`_ `#Kenya <https://www.grassrootseconomics.org/blog/hashtags/Kenya>`_ `#impacts <https://www.grassrootseconomics.org/blog/hashtags/impacts>`_
#quarterlyupdate #blockchain #transactions #Kenya #impacts
#quarterlyupdate #blockchain #transactions #Kenya #impacts
#quarterlyupdate #blockchain #transactions #Kenya #impacts
#quarterlyupdate #blockchain #transactions #Kenya #impacts
`#quarterlyupdate <https://www.grassrootseconomics.org/blog/hashtags/quarterlyupdate>`_
#quarterlyupdate
`#blockchain <https://www.grassrootseconomics.org/blog/hashtags/blockchain>`_
#blockchain
`#transactions <https://www.grassrootseconomics.org/blog/hashtags/transactions>`_
#transactions
`#Kenya <https://www.grassrootseconomics.org/blog/hashtags/Kenya>`_
#Kenya
`#impacts <https://www.grassrootseconomics.org/blog/hashtags/impacts>`_
#impacts
:title: Looking Back at 40,000 Blockchain Transactions
:author: Will Ruddick
:date: Jul 12, 2019
:slug: looking-back
:summary: So far this year, after roughly 6 months of piloting we've witnessed 40,000 transactions!
4,065 Kenyans representing families living below
So far, after roughly 6 months of piloting we've witnessed 40,000 blockchain transactions! So what does that actually mean?
4,065 Kenyans representing families living below the poverty line have traded 3,263,081 Kenyan Shillings worth of goods and services (about 30,000 USD) with each other - ensuring more stable trade than with the often scarce Kenyan Shillings. Using their community currencies, like Miyani-Pesa on the Sarafu network, people have supported themselves and bought from each other:
**4,065 Kenyans representing families living below the poverty line have traded 3,263,081 Kenyan Shillings worth of goods and services (about 30,000 USD) with each other - ensuring more stable trade than with the often scarce Kenyan Shillings. Using their community currencies, like Miyani-Pesa on the Sarafu network, people have supported themselves and bought from each other:**
4,065 Kenyans representing families living below the poverty line have traded 3,263,081 Kenyan Shillings worth of goods and services (about 30,000 USD) with each other - ensuring more stable trade than with the often scarce Kenyan Shillings. Using their community currencies, like Miyani-Pesa on the Sarafu network, people have supported themselves and bought from each other:
*4,065 Kenyans representing families living below the poverty line have traded 3,263,081 Kenyan Shillings worth of goods and services (about 30,000 USD) with each other - ensuring more stable trade than with the often scarce Kenyan Shillings. Using their community currencies, like Miyani-Pesa on the Sarafu network, people have supported themselves and bought from each other:*
.. image:: images/blog/looking-back26.webp
Enrollment in our pilot programs - each user is given free of charge 400 Community Currency Tokens to trade with
* 2,567 daily farming wages have been paid
* 54,928 servings of vegetables
* 5,361 kilos of flour
* 2,506 rides on local transport
* 843 school tuition payments
* 484,404 liters of water
* 59 visits to the doctor
* *Note these are general services and products among categories of vendors - many more are being traded.
Most if not at all of these purchases would not have happened otherwise. We're encouraged by community members embracing community currencies to access resources that would otherwise go underutilized, and taking the opportunity to save their valuable Kenyan Shillings. This translates to children staying in school, families being better nourished, workers earning a reliable income, and so much more.
What are we looking forward to:
* Open source code and systems that allow any community to create their own medium of exchange to supplement scarce national currencies and create resilient markets.
* Voting systems to help communities manage their currencies, raise local taxes and support social services.
* Connection to stable tokens that allow people to support community currencies that build thriving economies as a new form of Cash Transfer Programming.
* Responding to the worldwide refugee crisis through Refugee Inclusive Community Currencies that help regions develop credit and employ refugees.
* Working with internal savings and loaning women's groups, which are key hubs in the community.
What we need to get there:
* Developers to build an open and full stack solution.
* Supporters and partners to help fund these solutions and spread the information through online courses and resource centers.
* Researchers to analyse data to improve our systems and help spread these concepts.
* Volunteers to work in Kenyan communities to explain and expand on these programs.
Community currencies are well-named, in that it takes an entire network of people to make them work. Our thanks go to the community members, ambassadors, volunteers, staff, supporters, and partners who have contributed their time and belief to get us to 40,000 transactions. If you'd like to get involved reach out to us. Here's to the next 40,000 - 80,000 - 100,000!
Community currencies are well-named, in that it takes an entire network of people to make them work. Our thanks go to the community members, ambassadors, volunteers, staff, supporters, and partners who have contributed their time and belief to get us to 40,000 transactions. If you'd like to get involved reach out to us. Here's to the next 40,000 - 80,000 - 100,000!
`reach out to us <https://www.grassrootseconomics.org/contact>`_

45
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@ -10,47 +10,28 @@
2014 has been an intense year developing the structures to allow community currency programs to one day become accessible across Africa. Besides our currency programs we have also worked with hundreds of street living youth in Kenya, to help them reintegrate with society. We're looking forward to 2015! In 2014 we:
2014 has been an intense year developing the structures to allow community currency programs to one day become accessible across Africa. Besides our currency programs we have also worked with hundreds of street living youth in Kenya, to help them reintegrate with society. We're looking forward to 2015! In 2014 we:
2014 has been an intense year developing the structures to allow community currency programs to one day become accessible across Africa. Besides our currency programs we have also worked with hundreds of street living youth in Kenya, to help them reintegrate with society. We're looking forward to 2015! In 2014 we:
* continued to monitor the first and now vibrant community currency program in Kenya. Looking back, our first award winning pilot in 2010 Eco-Pesa gave us the tools to implement and develop Bangla-Pesa starting in 2012 Via mutual credit backing and circulating vouchers. Bangla-Pesa has enabled over 3 million shillings worth of trade in an impoverished informal settlement in Mombasa. We've measured as much as an 80% increase in sales revenue in the community during poor market conditions, through better utilization of excess capacity and interconnectedness between small over 300 informal businesses.
* Set a legal precedent by defending our programs in court.
* enabled networks of businesses to save Kenyan Shillings for investment and cooperative enterprises.
* duplicated Bangla-Pesa now in Nairobi's Kawangware informal settlement with Gatina-Pesa(named after Gatina location where it is centered.) There are 4 schools in Mombasa and 4 so far in Nairobi accepting community currency for school fees, helping to raise and stabilize teachers salaries.
* established community currency as a low cost innovation that can be spread to communities across Africa
* collaborated with and trained the FLOW team in South Africa to implement in two municipalities in South Africa, which will launch community currencies in mid 2015. The team in South Africa led by John Ziniades and Anna Cowen from Cape Town are doing amazing work. The teams of FLOW Ambassadors that they are creating to help implement these programs along with their support from local municipalities really set them apart from other CC programs.
* presented community currencies at an international
In 2015 we will:
* continued to monitor the first and now vibrant community currency program in Kenya. Looking back, our first award winning pilot in 2010 Eco-Pesa gave us the tools to implement and develop Bangla-Pesa starting in 2012 Via mutual credit backing and circulating vouchers. Bangla-Pesa has enabled over 3 million shillings worth of trade in an impoverished informal settlement in Mombasa. We've measured as much as an 80% increase in sales revenue in the community during poor market conditions, through better utilization of excess capacity and interconnectedness between small over 300 informal businesses.
* Set a legal precedent by defending our programs in court.
* enabled networks of businesses to save Kenyan Shillings for investment and cooperative enterprises.
* duplicated Bangla-Pesa now in Nairobi's Kawangware informal settlement with Gatina-Pesa(named after Gatina location where it is centered.) There are 4 schools in Mombasa and 4 so far in Nairobi accepting community currency for school fees, helping to raise and stabilize teachers salaries.
* established community currency as a low cost innovation that can be spread to communities across Africa
* collaborated with and trained the FLOW team in South Africa to implement in two municipalities in South Africa, which will launch community currencies in mid 2015. The team in South Africa led by John Ziniades and Anna Cowen from Cape Town are doing amazing work. The teams of FLOW Ambassadors that they are creating to help implement these programs along with their support from local municipalities really set them apart from other CC programs.
* presented community currencies at an international
In 2015 we will:
* Form a foundation to help establish legislation, expand research and implement more community currency programs.
* Start another 4 currencies in Kenya (2 in Nairobi and 2 more in Mombasa Counties) Thanks to Lush Cosmetics and DOEN!
* Assist in 2 more currencies being implemented in South Africa
* Assist local government to be able to monitor and manage community currency programs.
* We hope - find the support to create an office for East Africa promoting community currency programs.
In 2015 we will:
* Form a foundation to help establish legislation, expand research and implement more community currency programs.
* Start another 4 currencies in Kenya (2 in Nairobi and 2 more in Mombasa Counties) Thanks to Lush Cosmetics and DOEN!
* Assist in 2 more currencies being implemented in South Africa
* Assist local government to be able to monitor and manage community currency programs.
* We hope - find the support to create an office for East Africa promoting community currency programs.
#gatina #bangla
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_ `#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#gatina
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla

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@ -8,7 +8,7 @@
.. image:: images/blog/managing-their14.webp
.. image:: images/blog/managing-their1.webp
@ -24,141 +24,6 @@ Over the last 1 month they have had 268 clients come buy over $3,000 USD worth o
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
Over the last 1 month they have had 268 clients come buy over $3,000 USD worth of their cooked food! What makes it even more amazing is that they have spent an equivalent of $2,600 USD of Sarafu to purchase cooking oil, fuel and wheat flour for their business. Circular economy - circular chapati!
1
268
3
,
000
USD
of
!
of
2
,
600
USD
of
to purchase cooking oil
,
fuel and wheat flour
for
their business
.
Circular economy
-
circular chapati
!
.. image:: images/blog/managing-their103.webp
@ -172,42 +37,6 @@ Over the last month they have had 123 customers and sold $840 USD by accepting S
Over the last month they have had 123 customers and sold $840 USD by accepting Sarafu when Kenyan Shillings is scarce and they have spent roughly the same amount on their own basic needs - creating and maintaining a circular economy.
Over the last month they have had 123 customers and sold $840 USD by accepting Sarafu when Kenyan Shillings is scarce and they have spent roughly the same amount on their own basic needs - creating and maintaining a circular economy.
Over the last month they have had 123 customers and sold $840 USD by accepting Sarafu when Kenyan Shillings is scarce and they have spent roughly the same amount on their own basic needs - creating and maintaining a circular economy.
Over the last month they have had 123 customers and sold $840 USD by accepting Sarafu when Kenyan Shillings is scarce and they have spent roughly the same amount on their own basic needs - creating and maintaining a circular economy.
123
840
USD
-
.
.. image:: images/blog/managing-their135.webp
@ -219,59 +48,6 @@ Susan is a mother and tailor in Mukuru. She was started using CICs 2 months ago
In the last month Sarah has sold $756 USD worth of masks to over 100 people. Need a mask? Talk to Susan!
In the last month Sarah has sold $756 USD worth of masks to over 100 people. Need a mask? Talk to Susan!
In the last month Sarah has sold $756 USD worth of masks to over 100 people. Need a mask? Talk to Susan!
In the last month Sarah has sold $756 USD worth of masks to over 100 people. Need a mask? Talk to Susan!
In the last month Sarah has sold $756 USD worth of masks to over 100 people. Need a mask? Talk to Susan!
In the last month Sarah has sold $756 USD worth of masks to over 100 people. Need a mask? Talk to Susan!
In the last month Sarah has sold $756 USD worth of masks to over 100 people. Need a mask? Talk to Susan!
756
USD
of
100
.
?
!
.. image:: images/blog/managing-their169.webp
@ -284,54 +60,6 @@ Victor in the last month has had 54 clients and sold $1,246 USD worth of his ser
Victor in the last month has had 54 clients and sold $1,246 USD worth of his services using Sarafu
Victor in the last month has had 54 clients and sold $1,246 USD worth of his services using Sarafu
Victor in the last month has had 54 clients and sold $1,246 USD worth of his services using Sarafu
Victor in the last month has had 54 clients and sold $1,246 USD worth of his services using Sarafu
Victor in the last month has had 54 clients and sold $1,246 USD worth of his services using Sarafu
in
54
1
,
246
USD
of
.. image:: images/blog/managing-their203.webp
@ -340,97 +68,5 @@ Grace is one of the Red Cross' disaster response team members and is also a cari
Grace is one of the Red Cross' disaster response team members and is also a caring mother. She has a cereal shop in Mukuru and she feeds more than a hundred households. She joined the network 8 months ago and in this time of the pandemic, she has dedicated her shop to feed even more families by use of the CIC (Sarafu). She has increased her trade volume in order to help families get a meal. In return, Gertrude also spends more of her Sarafu in the community and by doing so, she is able to save the national currency which she uses to buy more stock for her shop.
Gertrude
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
Grace has given out $2,286 USD worth of food to 114 community members this month using Sarafu and has spent $2,316 USD on restocking and her family basic needs. She is a powerhouse making her community thrive during crisis and charting a path toward a resilient economic recovery.
2
,
286
USD
of
114
this
2
,
316
USD
.
.

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.. image:: images/blog/mangroves-and18.webp
.. image:: images/blog/mangroves-and1.webp
We've been working to replace the need for Mombasa's Bangladesh residents to import food and conserve their environment. Two schools near a mangrove forest have:
We've been working to replace the need for Mombasa's Bangladesh residents to import food and conserve their environment. Two schools near a mangrove forest have:
We've been working to replace the need for Mombasa's Bangladesh residents to import food and conserve their environment. Two schools near a mangrove forest have:
* begun stabilizing eroded soils by planting grasses and trees
* catching rainwater by installing gutters
* planting vegetables
* and conserving the mangrove forests to stabilize spawning locations for crabs
* begun stabilizing eroded soils by planting grasses and trees
* catching rainwater by installing gutters
* planting vegetables
* and conserving the mangrove forests to stabilize spawning locations for crabs
February has been a great month. The schools have worked hard at their gardens and have tried to bring in water whenever it is needed even though there was a shortage. Baby vegetable seedlings are starting to sprout and the pioneer plants the lemon grass and bamboo are doing well.
PROGRESS REPORT FOR PERMACULTURE GARDENS IN ST. ANGELINE’S AND ST.PETER AND PAUL
The setting up of permaculture gardens in the two schools had the following main objectives for Grassroots Economics:
The setting up of permaculture gardens in the two schools had the following main objectives for Grassroots Economics:
The setting up of permaculture gardens in the two schools had the following main objectives for Grassroots Economics:
* Combat the severe soil erosion in the compounds
* Inculcate in the children a sense of social responsibility
* Boost the nutrition of the families by growing vegetables and fruit trees in the gardens
* Link the schools and the community through use of community currency
* Combat the severe soil erosion in the compounds
* Inculcate in the children a sense of social responsibility
* Boost the nutrition of the families by growing vegetables and fruit trees in the gardens
* Link the schools and the community through use of community currency
The objectives are being achieved gradually and the pupils have been working hard at it. Albeit we have had a few challenges but we are on course to set up within six months.
Combating Severe soil erosion. This objective is being achieved by:
Combating Severe soil erosion. This objective is being achieved by:
Combating Severe soil erosion. This objective is being achieved by:
* i. Setting up tree nurseries that will provide a sustainable way to continuously plant trees even after the targeted six months. The children have set a target of planting trees at least three times their age by the end of the year Tree nurseries have been set for indegenous trees like the Mrabai, Bambakofi and Luceana which will be great pioneer trees as they already grow in the surrounding villages along with the Flamboyant and neem trees. We taught the children to do seed harvesting so we hope to have an explosion of tree species of their choosing as they have fun planting.
* ii. Planting of pioneer trees and plants that will help in covering the ground and also combat soils erosion- this has been started off by the planting of Lemon grass and bamboo which are trees that have roots that can hold soil and are part of companion planting initiatives. The lemon grass can be used for pest control when planted around the vegetable gardens and will also prevent soil loss through erosion. Bamboo planted at the bottom of the slopes will hold water and also when planted at the top will help in cleaning grey water that will run into the kitchen gardens.
* iii. We also ensured to build swales- that will help in slowing water down as it runs down the slope and is a form of natural water harvesting technique.
* i. Setting up tree nurseries that will provide a sustainable way to continuously plant trees even after the targeted six months. The children have set a target of planting trees at least three times their age by the end of the year Tree nurseries have been set for indegenous trees like the Mrabai, Bambakofi and Luceana which will be great pioneer trees as they already grow in the surrounding villages along with the Flamboyant and neem trees. We taught the children to do seed harvesting so we hope to have an explosion of tree species of their choosing as they have fun planting.
* ii. Planting of pioneer trees and plants that will help in covering the ground and also combat soils erosion- this has been started off by the planting of Lemon grass and bamboo which are trees that have roots that can hold soil and are part of companion planting initiatives. The lemon grass can be used for pest control when planted around the vegetable gardens and will also prevent soil loss through erosion. Bamboo planted at the bottom of the slopes will hold water and also when planted at the top will help in cleaning grey water that will run into the kitchen gardens.
* iii. We also ensured to build swales- that will help in slowing water down as it runs down the slope and is a form of natural water harvesting technique.
Inculcating a sense of social responsibility in the children.This has been achieved by:
* i. Holding weekly sensitization classes- for the pupils on the uses of trees and how it is their resposibility to leave the school better than it is.
* ii. We have also partnered with another organizations – so that they can be trained on the benefits of mangroves and how to propagate them. They have also started setting up mangrove nurseries. The mangove will be planted at the beach near the school and it will be their way of giving to the community.
Inculcating a sense of social responsibility in the children.This has been achieved by:
Inculcating a sense of social responsibility in the children.This has been achieved by:
* i. Holding weekly sensitization classes- for the pupils on the uses of trees and how it is their resposibility to leave the school better than it is.
* ii. We have also partnered with another organizations – so that they can be trained on the benefits of mangroves and how to propagate them. They have also started setting up mangrove nurseries. The mangove will be planted at the beach near the school and it will be their way of giving to the community.
Boosting the Nutrition of the community by planting fruit trees and vegetables. We started this off by ensuring the schools had:
Boosting the Nutrition of the community by planting fruit trees and vegetables. We started this off by ensuring the schools had:
Boosting the Nutrition of the community by planting fruit trees and vegetables. We started this off by ensuring the schools had:
* i. Tanks with gutters- that at the onset of rains they would be able to harvest rain that will in turn nourish the vegetables.
* ii. We also involved the community in digging of swales- that we filled up with manure and dry grass that we left for about for a month that would help in boosting the nutrition content of the severely eroded soils.
* iii. We had the children trained on setting up tree and vegetable nurseries- that they would plant in the swales, and the other small vegetable gardens. Vegetables that are in the seedbed are: Kales, bringles and spinach. We hope to introduce gradually tomatoes, water melons, pumkins and some traditional vegetables as we want them to have a stacked garden with creepers that act as cover crops to retain moisture and other vegetables that grow taller. As for food and fruit trees we will introduce the nitrogen fixing and nutrient enriching Moringa Oliefera whose leaves are medicinal and super rich in nutrients along with paws paws, bananas, grafted mangoes and oranges. We will also introduce sugar cane on areas that pool with water.
* iv. The schools have also been trained on companion planting- so that the know how to plant the vegetables and food trees to ensure maximum yield and using organic pest control methods.
* i. Tanks with gutters- that at the onset of rains they would be able to harvest rain that will in turn nourish the vegetables.
* ii. We also involved the community in digging of swales- that we filled up with manure and dry grass that we left for about for a month that would help in boosting the nutrition content of the severely eroded soils.
* iii. We had the children trained on setting up tree and vegetable nurseries- that they would plant in the swales, and the other small vegetable gardens. Vegetables that are in the seedbed are: Kales, bringles and spinach. We hope to introduce gradually tomatoes, water melons, pumkins and some traditional vegetables as we want them to have a stacked garden with creepers that act as cover crops to retain moisture and other vegetables that grow taller. As for food and fruit trees we will introduce the nitrogen fixing and nutrient enriching Moringa Oliefera whose leaves are medicinal and super rich in nutrients along with paws paws, bananas, grafted mangoes and oranges. We will also introduce sugar cane on areas that pool with water.
* iv. The schools have also been trained on companion planting- so that the know how to plant the vegetables and food trees to ensure maximum yield and using organic pest control methods.
So far each school has two kitchen gardens one that will be mostly vegetables and a few food trees and one that will contain fruit trees and vegetables
@ -140,11 +76,6 @@ So far each school has two kitchen gardens one that will be mostly vegetables an
The schools as part of the Sarafu – Credit community currency.
At the onset we had meetings with the schools with one of the Bangla-Pesa representatives who would act as a link between the business community and the school. The lady Sylvia Osodo will ensure that when the community is involved in program is involved in the program especially the youth the business network can pay part of the labor fees in Sarafu-Credit from the community basket whenever the need for payment arises.
@ -153,21 +84,5 @@ We envision however the community will gradually take part especially ones withi
#bangla #environment #mombasa
#bangla #environment #mombasa
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla
`#environment <https://www.grassrootseconomics.org/blog/hashtags/environment>`_
#environment
`#mombasa <https://www.grassrootseconomics.org/blog/hashtags/mombasa>`_
#mombasa
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_ `#environment <https://www.grassrootseconomics.org/blog/hashtags/environment>`_ `#mombasa <https://www.grassrootseconomics.org/blog/hashtags/mombasa>`_

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@ -8,16 +8,10 @@
.. image:: images/blog/marcianas-struggle18.webp
.. image:: images/blog/marcianas-struggle1.webp
Marciana's husband died a long time ago, leaving her with 5 children to care for alone. Even though she is 64 now, and most of her children are grown, she still bears the burden for caring for her family. Her oldest son, who might have taken on this responsibility, also died, and her oldest daughter is disabled from a bout of TB. Her surviving son was trained as a driver, but he’s been unable to find work, so he, his wife, and his two children live with Marciana, along with Marciana’s disabled daughter and youngest daughter (17 years). Marciana didn’t have the money to send her youngest daughter to secondary school. And, although she received some training as a tailor, she is also unemployed. So, Marciana supports this household from the sale of porridge and a bean and maize soup. The porridge sells for 15ksh ($0.18) and soup for 10ksh ($0.12). She usually makes around 600ksh ($7) a day to feed a family of 7. Technically, this puts her above the international poverty line based on the lower cost of living in Kenya, but, as she leaned her forehead against a pole, looked down at her worn red flip flops and dust covered feet, and told us about her life, we could feel the exhaustion caused by her efforts to keep her family fed and housed, and some sadness at being unable to keep her daughters in school and in good health.
@ -40,29 +34,7 @@ When we spoke with her, Marciana had 400 Bangla-Pesa after a day of trading. The
#bangla #women #complementarycurrencies #businesswomen
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_ `#women <https://www.grassrootseconomics.org/blog/hashtags/women>`_ `#complementarycurrencies <https://www.grassrootseconomics.org/blog/hashtags/complementarycurrencies>`_ `#businesswomen <https://www.grassrootseconomics.org/blog/hashtags/businesswomen>`_
#bangla #women #complementarycurrencies #businesswomen
#bangla #women #complementarycurrencies #businesswomen
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla
`#women <https://www.grassrootseconomics.org/blog/hashtags/women>`_
#women
`#complementarycurrencies <https://www.grassrootseconomics.org/blog/hashtags/complementarycurrencies>`_
#complementarycurrencies
`#businesswomen <https://www.grassrootseconomics.org/blog/hashtags/businesswomen>`_
#businesswomen

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One of our largest supporters and inspirations has passed on. Our whole team and the community of Bangladesh, Kenya wish to offer condolences to the friends and family of Dr. Margrit Kennedy. She deeply understood and exposed the fact that our monetary system was broken. She stated that her work on ecological architecture in 1982 led her to the discovery that it is "virtually impossible to carry out sound ecological concepts on the scale required today, without fundamentally altering the present money system or creating new complementary currencies". Some of our work in Kenya was featured in her recent book, "People Money" which you can find here. Without the help of Dr. Kennedy the team might still be in jail and Bangla-Pesa might not have been relaunched.
One of our largest supporters and inspirations has passed on. Our whole team and the community of Bangladesh, Kenya wish to offer condolences to the friends and family of Dr. Margrit Kennedy. She deeply understood and exposed the fact that our monetary system was broken. She stated that her work on ecological architecture in 1982 led her to the discovery that it is "virtually impossible to carry out sound ecological concepts on the scale required today, without fundamentally altering the present money system or creating new complementary currencies". Some of our work in Kenya was featured in her recent book, "People Money" which you can find `here <http://www.margritkennedy.de/>`_. Without the help of Dr. Kennedy the team might still be in jail and Bangla-Pesa might not have been relaunched.
One of our largest supporters and inspirations has passed on. Our whole team and the community of Bangladesh, Kenya wish to offer condolences to the friends and family of Dr. Margrit Kennedy. She deeply understood and exposed the fact that our monetary system was broken. She stated that her work on ecological architecture in 1982 led her to the discovery that it is "virtually impossible to carry out sound ecological concepts on the scale required today, without fundamentally altering the present money system or creating new complementary currencies". Some of our work in Kenya was featured in her recent book, "People Money" which you can find here. Without the help of Dr. Kennedy the team might still be in jail and Bangla-Pesa might not have been relaunched.
`here <http://www.margritkennedy.de/>`_
We hope to continue her work in the tradition of academic rigor, holistic approaches and creative thinking
From Her website:
As early as 1982 she recognized that the broader application of ecological principals was inhibited by fundamental flaws in the monetary system, especially the consistent need for economic growth resulting from interest and compound interest. Through her continuous research and scrutiny she became an expert on the subject [of Complementary Currencies], working on practical solutions for essential Problems:
From Her website:
As early as 1982 she recognized that the broader application of ecological principals was inhibited by fundamental flaws in the monetary system, especially the consistent need for economic growth resulting from interest and compound interest. Through her continuous research and scrutiny she became an expert on the subject [of Complementary Currencies], working on practical solutions for essential Problems:
From Her website:
As early as 1982 she recognized that the broader application of ecological principals was inhibited by fundamental flaws in the monetary system, especially the consistent need for economic growth resulting from interest and compound interest. Through her continuous research and scrutiny she became an expert on the subject [of Complementary Currencies], working on practical solutions for essential Problems:
From Her website:
As early as 1982 she recognized that the broader application of ecological principals was inhibited by fundamental flaws in the monetary system, especially the consistent need for economic growth resulting from interest and compound interest. Through her continuous research and scrutiny she became an expert on the subject [of Complementary Currencies], working on practical solutions for essential Problems:
From Her website:
As early as 1982 she recognized that the broader application of ecological principals was inhibited by fundamental flaws in the monetary system, especially the consistent need for economic growth resulting from interest and compound interest. Through her continuous research and scrutiny she became an expert on the subject [of Complementary Currencies], working on practical solutions for essential Problems:
From Her website:
As early as 1982 she recognized that the broader application of ecological principals was inhibited by fundamental flaws in the monetary system, especially the consistent need for economic growth resulting from interest and compound interest. Through her continuous research and scrutiny she became an expert on the subject [of Complementary Currencies], working on practical solutions for essential Problems:
From Her website:
As early as 1982 she recognized that the broader application of ecological principals was inhibited by fundamental flaws in the monetary system, especially the consistent need for economic growth resulting from interest and compound interest. Through her continuous research and scrutiny she became an expert on the subject [of Complementary Currencies], working on practical solutions for essential Problems:
* How can we create a sustainable monetary system?
* What characterizes monetary systems which do not collapse repeatedly and which serve us rather than control us?
* Where can we find examples of well-working monetary systems in the past and present?
* How can we create a sustainable monetary system?
* What characterizes monetary systems which do not collapse repeatedly and which serve us rather than control us?
* Where can we find examples of well-working monetary systems in the past and present?
From wikipedia:
@ -79,40 +32,6 @@ Margrit Kennedy (born November 21, 1939, in Chemnitz) is a German architect, pro
From wikipedia:
Margrit Kennedy (born November 21, 1939, in Chemnitz) is a German architect, professor, environmentalist, author and world authority on and advocate of complementary currencies and an interest- and inflation-free economy. In 2011, she initiated the movement Occupy Money.
From wikipedia:
Margrit Kennedy (born November 21, 1939, in Chemnitz) is a German architect, professor, environmentalist, author and world authority on and advocate of complementary currencies and an interest- and inflation-free economy. In 2011, she initiated the movement Occupy Money.
From wikipedia:
Margrit Kennedy (born November 21, 1939, in Chemnitz) is a German architect, professor, environmentalist, author and world authority on and advocate of complementary currencies and an interest- and inflation-free economy. In 2011, she initiated the movement Occupy Money.
From wikipedia:
Margrit Kennedy (born November 21, 1939, in Chemnitz) is a German architect, professor, environmentalist, author and world authority on and advocate of complementary currencies and an interest- and inflation-free economy. In 2011, she initiated the movement Occupy Money.
Kennedy was an architect with a Masters Degree in Urban and Regional Planning and a Ph.D. in Public and International Affairs from the University of Pittsburgh Graduate School of Public and International Affairs. She has worked as an Urban Planner in Germany, Nigeria, Scotland and the United States. In 1991, she was appointed Professor of Ecological Building Technologies at the Department of Architecture, University of Hanover.
Kennedy was an architect with a Masters Degree in Urban and Regional Planning and a Ph.D. in Public and International Affairs from the University of Pittsburgh Graduate School of Public and International Affairs. She has worked as an Urban Planner in Germany, Nigeria, Scotland and the United States. In 1991, she was appointed Professor of Ecological Building Technologies at the Department of Architecture, University of Hanover.
Kennedy was an architect with a Masters Degree in Urban and Regional Planning and a Ph.D. in Public and International Affairs from the University of Pittsburgh Graduate School of Public and International Affairs. She has worked as an Urban Planner in Germany, Nigeria, Scotland and the United States. In 1991, she was appointed Professor of Ecological Building Technologies at the Department of Architecture, University of Hanover.
@ -128,18 +47,5 @@ On Saturday, Kennedy has died of cancer at the age of 74 years. Kennedy was a wa
On Saturday, Kennedy has died of cancer at the age of 74 years. Kennedy was a warm and charismatic woman who walked curious and interested in their conversation partner. She was also pragmatic. If it was necessary, they could explain their theory in a single minute. Taxi drivers, for example, if the destination was in sight. She was married to the Irish architect Declan Kennedy and lived in the eco-village "life Steyerberg" in Lower Saxony. About three months ago the cancer was diagnosed. Although the strength left, Kennedy was active until the end.
On Saturday, Kennedy has died of cancer at the age of 74 years. Kennedy was a warm and charismatic woman who walked curious and interested in their conversation partner. She was also pragmatic. If it was necessary, they could explain their theory in a single minute. Taxi drivers, for example, if the destination was in sight. She was married to the Irish architect Declan Kennedy and lived in the eco-village "life Steyerberg" in Lower Saxony. About three months ago the cancer was diagnosed. Although the strength left, Kennedy was active until the end.
Thank you Dr. Margrit Kennedy for being an inspiration to us all.

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.. image:: images/blog/mikindani-community21.webp
.. image:: images/blog/mikindani-community1.webp

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:title: Motomoto Performing Arts
:author: Will Ruddick
:date: Nov 25, 2012
:slug: motomoto-performing-2012
:summary: Martin Kimani is still spinning it up since 2009! The MotoMoto Circus programhas been working to reach street living youth through...
Martin Kimani is still spinning it up since 2009! The MotoMoto Circus programhas been working to reach street living youth through performing arts since 2009 when the project was given a kick start from Burners Without Borders.
This week we had our Wednesday training and showcase at Makadara Grounds in Mombasa. These kids are trying to change their habits, support eachother and get off drug addiction and the streets. Martin is our lead instructor and works with different groups of street kids multiple times a week. We are also hoping to start a prison program in 2013 to reach those youth that are in jail often being subjected to hard labor.
.. raw:: html
<iframe width="740" height="416" src="https://www.youtube.com/embed/KY26n9LUhsw" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
See past MotoMoto Videos `here <http://www.youtube.com/playlist?list=PLA54D7D685FA7FB8B>`_.
Besides the great help we get from Burners without Borders. We are looking for help with donations of kevlar and old poi sets. If you are able to donate a `roll of Kevlaror <http://www.homeofpoi.com/shop/listItems/KEVLAR-Wick-Flat>`_ any other poi stuff that would be great!
We are also looking for volunteers in 2013. If you can teach poi or want to learn poi - think about doing it in Kenya!
`#motomoto <https://www.grassrootseconomics.org/blog/hashtags/motomoto>`_ `#performingarts <https://www.grassrootseconomics.org/blog/hashtags/performingarts>`_ `#firedance <https://www.grassrootseconomics.org/blog/hashtags/firedance>`_ `#burnerswithoutborders <https://www.grassrootseconomics.org/blog/hashtags/burnerswithoutborders>`_ `#poi <https://www.grassrootseconomics.org/blog/hashtags/poi>`_

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@ -24,137 +24,12 @@ One of the students is George Kamau . George dropped out of school in second gra
For more information about the MotoMoto Circus program and how we work with street living youth in Kenya click here.
For more information about the MotoMoto Circus program and how we work with street living youth in Kenya click `here. <http://koru.or.ke/motomoto-circus>`_.
`here. <http://koru.or.ke/motomoto-circus>`_
#motomoto #performingarts #firedance #burnerswithoutborders #poi
`#motomoto <https://www.grassrootseconomics.org/blog/hashtags/motomoto>`_ `#performingarts <https://www.grassrootseconomics.org/blog/hashtags/performingarts>`_ `#firedance <https://www.grassrootseconomics.org/blog/hashtags/firedance>`_ `#burnerswithoutborders <https://www.grassrootseconomics.org/blog/hashtags/burnerswithoutborders>`_ `#poi <https://www.grassrootseconomics.org/blog/hashtags/poi>`_
#motomoto #performingarts #firedance #burnerswithoutborders #poi
#motomoto #performingarts #firedance #burnerswithoutborders #poi
#motomoto #performingarts #firedance #burnerswithoutborders #poi
`#motomoto <https://www.grassrootseconomics.org/blog/hashtags/motomoto>`_
#motomoto
`#performingarts <https://www.grassrootseconomics.org/blog/hashtags/performingarts>`_
#performingarts
`#firedance <https://www.grassrootseconomics.org/blog/hashtags/firedance>`_
#firedance
`#burnerswithoutborders <https://www.grassrootseconomics.org/blog/hashtags/burnerswithoutborders>`_
#burnerswithoutborders
`#poi <https://www.grassrootseconomics.org/blog/hashtags/poi>`_
#poi
:title: Motomoto Performing Arts
:author: Will Ruddick
:date: Nov 25, 2012
:slug: motomoto-performing
:summary: Martin Kimani is still spinning it up since 2009! The MotoMoto Circus programhas been working to reach street living youth through...
Martin Kimani is still spinning it up since 2009! The MotoMoto Circus programhas been working to reach street living youth through performing arts since 2009 when the project was given a kick start from Burners Without Borders.
This week we had our Wednesday training and showcase at Makadara Grounds in Mombasa. These kids are trying to change their habits, support eachother and get off drug addiction and the streets. Martin is our lead instructor and works with different groups of street kids multiple times a week. We are also hoping to start a prison program in 2013 to reach those youth that are in jail often being subjected to hard labor.
See past MotoMoto Videos here.
See past MotoMoto Videos here.
`here <http://www.youtube.com/playlist?list=PLA54D7D685FA7FB8B>`_
Besides the great help we get from Burners without Borders. We are looking for help with donations of kevlar and old poi sets. If you are able to donate a roll of Kevlaror any other poi stuff that would be great!
Besides the great help we get from Burners without Borders. We are looking for help with donations of kevlar and old poi sets. If you are able to donate a roll of Kevlaror any other poi stuff that would be great!
`roll of Kevlaror <http://www.homeofpoi.com/shop/listItems/KEVLAR-Wick-Flat>`_
We are also looking for volunteers in 2013. If you can teach poi or want to learn poi - think about doing it in Kenya!
#motomoto #performingarts #firedance #burnerswithoutborders #poi
#motomoto #performingarts #firedance #burnerswithoutborders #poi
#motomoto #performingarts #firedance #burnerswithoutborders #poi
#motomoto #performingarts #firedance #burnerswithoutborders #poi
`#motomoto <https://www.grassrootseconomics.org/blog/hashtags/motomoto>`_
#motomoto
`#performingarts <https://www.grassrootseconomics.org/blog/hashtags/performingarts>`_
#performingarts
`#firedance <https://www.grassrootseconomics.org/blog/hashtags/firedance>`_
#firedance
`#burnerswithoutborders <https://www.grassrootseconomics.org/blog/hashtags/burnerswithoutborders>`_
#burnerswithoutborders
`#poi <https://www.grassrootseconomics.org/blog/hashtags/poi>`_
#poi

13
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@ -1,14 +1,14 @@
:title: Municipal Basic Income (MBI) via CIC
:author: Will Ruddick
:date: Jan 23
:date: Jan 23 2021
:slug: municipal-basic
:modified: Jan 24
:modified: Jan 24 2021
:summary: Consider the value in decentralized, municipally supported economies (networks of MBIs) - building and supporting local as well as regional
:tags: UBI,Basic Income,municiple,MBI
.. image:: images/blog/municipal-basic18.webp
.. image:: images/blog/municipal-basic1.webp
@ -24,9 +24,7 @@ In its simplest form a municipality creates a token which is distributed to resi
Businesses and groups of residents can create a Community Inclusion Currency against their production (like a voucher) and offer some of these CICs in exchange for the MBI – in order to support the municipality. This is a measurable form of corporate social responsibility (CSR) and social enterprise.
**Businesses and groups of residents can create a Community Inclusion Currency against their production (like a voucher) and offer some of these CICs in exchange for the MBI – in order to support the municipality. This is a measurable form of corporate social responsibility (CSR) and social enterprise.**
Businesses and groups of residents can create a Community Inclusion Currency against their production (like a voucher) and offer some of these CICs in exchange for the MBI – in order to support the municipality. **This is a measurable form of corporate social responsibility (CSR) and social enterprise.**
This allows business and communities to transparently and measurably connect their vouchers to the greater social service network formed by the MBI. Online marketplace could feature these supporting businesses as a way to drive traffic to them.
@ -49,6 +47,5 @@ This means that people could keep their municipality economies thriving by accep
While in Kenya we rely on Humanitarian organizations to supply a basic income token - a municipality, or local administration would be a wonderful anchor for community health in this way. The possibilities of MBIs combined with CICs are profound and life affirming. Consider the value in decentralized, municipally supported economies (networks of MBIs) - building and supporting local as well as regional or National economies.
While in Kenya we rely on Humanitarian organizations to supply a basic income token - a municipality, or local administration would be a wonderful anchor for community health in this way. The possibilities of MBIs combined with CICs are profound and life affirming. **Consider the value in decentralized, municipally supported economies (networks of MBIs) - building and supporting local as well as regional or National economies.**
**While in Kenya we rely on Humanitarian organizations to supply a basic income token - a municipality, or local administration would be a wonderful anchor for community health in this way. The possibilities of MBIs combined with CICs are profound and life affirming. Consider the value in decentralized, municipally supported economies (networks of MBIs) - building and supporting local as well as regional or National economies.**

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.. image:: images/blog/municipal-bonds18.webp
.. image:: images/blog/municipal-bonds1.webp
.. image:: images/blog/municipal-bonds32.webp
A Concept Paper based on observations during the FMDV inspired conference: Conference Resolutions Africa / Marrakesh 2014: Financing African Cities: agenda, alliances and solutions
`Conference Resolutions Africa / Marrakesh 2014: Financing African Cities: agenda, alliances and solutions <http://resolutionstofundcities.org/en/resolutionsafrica/marrakesh-2014>`_
A Concept Paper based on observations during the FMDV inspired conference: `Conference Resolutions Africa / Marrakesh 2014: Financing African Cities: agenda, alliances and solutions <http://resolutionstofundcities.org/en/resolutionsafrica/marrakesh-2014>`_
Why is this interesting?
Why is this interesting?
Why is this interesting?
* What if local governments could fund, incredibly underfunded, budgets through the support of the informal sector? Community Currencies could be the solution for sustainable local development and formalizing public and informal sector relationships.
* What if the informal sector paid taxes using their own goods and services and could trust that the money would be well used? The inability to pay and undesirability of tax paying due to corruption and lack of local impact - especially in developing countries is something we must overcome to create a more equitable society. Community Currencies are a way for local areas to tap into underutilized trade capacity, hedge in their own local abundance and use it to promote local development.
* We hope to see an example of such a Municipal Bond purchased in Community Currency this year in South Africa.
* What if local governments could fund, incredibly underfunded, budgets through the support of the informal sector? Community Currencies could be the solution for sustainable local development and formalizing public and informal sector relationships.
* What if the informal sector paid taxes using their own goods and services and could trust that the money would be well used? The inability to pay and undesirability of tax paying due to corruption and lack of local impact - especially in developing countries is something we must overcome to create a more equitable society. Community Currencies are a way for local areas to tap into underutilized trade capacity, hedge in their own local abundance and use it to promote local development.
* We hope to see an example of such a Municipal Bond purchased in Community Currency this year in South Africa.
Jo-Burg did it's first Green Bond in 2014 and more generally Climate Bonds do have a framework (albeit is quite new) "Climate bond, also known as green bond, are a relatively new asset class. Most Climate Bonds are asset-backed, or ringfenced, with investors being promised that all funds raised will only go to specified climate-related programs or assets, such as renewable energy plants or climate mitigation focused funding programs." Creating a new asset class for Municipal Bonds dealing with Community Currencies is touched on below. These bonds could also fit within a Social Impact or Development Impact Bond framework.
1. Definitions:
1. Definitions:
1. Definitions:
* Municipal Bonds (MBs) are debt securities issued by a state, municipality or county to finance capital expenditures. We will focus on Municipalities for this paper, but the topics could well be applicable to corporate and other bonds.
* Community Currencies (CCs) for this purpose are debt securities backed by goods and services of local businesses (formal and informal within the community). This group of businesses is below called the Trading Network or Network. CCs in this case are given a value of 1:1 to the National Currency and may be issued on paper or electronically. This preludes many
* Complimentary Currencies which are not locally issued or backed.
* Community Currency Municipal Bonds (CCMBs) are bond that are eligible to be purchased in Community Currency.
* Mixed Community Currency Municipal Bonds (MCCMBs) are bond that are eligible to be purchased using a mixture of National Currency and a Community Currency.
* Municipal Bonds (MBs) are debt securities issued by a state, municipality or county to finance capital expenditures. We will focus on Municipalities for this paper, but the topics could well be applicable to corporate and other bonds.
* Community Currencies (CCs) for this purpose are debt securities backed by goods and services of local businesses (formal and informal within the community). This group of businesses is below called the Trading Network or Network. CCs in this case are given a value of 1:1 to the National Currency and may be issued on paper or electronically. This preludes many
* Complimentary Currencies which are not locally issued or backed.
* Community Currency Municipal Bonds (CCMBs) are bond that are eligible to be purchased in Community Currency.
* Mixed Community Currency Municipal Bonds (MCCMBs) are bond that are eligible to be purchased using a mixture of National Currency and a Community Currency.
We will focus on CCMBs in this paper but the concepts can be readily expanded to MCCMBs.
@ -80,29 +46,18 @@ The CCMB represents an investment made by a CC trading network. The network made
The investors in this case are a network of businesses trading using a Community Currency. The Bond is purchased by direct transfer of CC from the Network to the Municipality, and transfer of a Bond letter or promissory note to the Network (see MBCC below).
CCMBs specifications:
CCMBs specifications:
CCMBs specifications:
* Face Value, or Amount of the Bond, will depend on the size of the program, usability of the CC in the program, and size of the trading network. The suggestion is that much lower Face Values with faster turnover could be achieved using a CCMB.
* Coupon, or interest on the Bond, could be as low as 0% depending on the municipalities perceived payoff and risk. Lower interest rates would be appropriate due to the lower relative value of the CC with respect to a National Currency loan. This should also be seen as a low risk investment by the trading network as the Bond's purpose ( community program outcomes ) should benefit them directly or indirectly. Interest should be payable in National Currency as the supply of the CC is generally limited.
* Maturity Time of the Bond could be as low as one month and as high as one year. At the end of this period the bond matures and is payable back in either CC or a mixture of CC and National Currency – along with any interest accrued.
* Expiration Date of the Bond - is the date at which the Bond receipt (MBCC - see below) is no longer redeemable. This is to protect the Municipality from holding outstanding debts. Bond holders – the Business Network as a whole or each of the members individually, keep a receipt of their loan to the municipality and after it matures it can be redeemed at the municipality plus whatever interest has accrued. Definition:
* Municipal Bond Community Currency (MBCC) - The Bond receipt or receipts may be resold and hence used as a Community or Complementary Currency. MBCC usage would temporarily increase the amount of CC in the community. The MBCC would have to look different (or be issued electronically) from the original CC – so that people would know to redeem it for National Currency at the Municipality. The MBCC is a promissory note or notes that are backed by the CCMB promise to repay in Rand or CC - and used as a currency in their own right. This could also be considered a type of Term Currency.
* Face Value, or Amount of the Bond, will depend on the size of the program, usability of the CC in the program, and size of the trading network. The suggestion is that much lower Face Values with faster turnover could be achieved using a CCMB.
* Coupon, or interest on the Bond, could be as low as 0% depending on the municipalities perceived payoff and risk. Lower interest rates would be appropriate due to the lower relative value of the CC with respect to a National Currency loan. This should also be seen as a low risk investment by the trading network as the Bond's purpose ( community program outcomes ) should benefit them directly or indirectly. Interest should be payable in National Currency as the supply of the CC is generally limited.
* Maturity Time of the Bond could be as low as one month and as high as one year. At the end of this period the bond matures and is payable back in either CC or a mixture of CC and National Currency – along with any interest accrued.
* Expiration Date of the Bond - is the date at which the Bond receipt (MBCC - see below) is no longer redeemable. This is to protect the Municipality from holding outstanding debts. Bond holders – the Business Network as a whole or each of the members individually, keep a receipt of their loan to the municipality and after it matures it can be redeemed at the municipality plus whatever interest has accrued. Definition:
* Municipal Bond Community Currency (MBCC) - The Bond receipt or receipts may be resold and hence used as a Community or Complementary Currency. MBCC usage would temporarily increase the amount of CC in the community. The MBCC would have to look different (or be issued electronically) from the original CC – so that people would know to redeem it for National Currency at the Municipality. The MBCC is a promissory note or notes that are backed by the CCMB promise to repay in Rand or CC - and used as a currency in their own right. This could also be considered a type of Term Currency.
2. CCMB program examples
@ -113,9 +68,6 @@ CCMBs specifications:
The municipal council has a mandate to care for the environment but currently lacks sufficient funds - Funds are expected to come the following year.
@ -149,39 +101,17 @@ Once the MBCCs maturity date has been reached and before the expiration date (al
* In the case where the community fund is not enough for the proposed Municipal Program, nor is there enough CC in circulation to purchase the CCMB.
* In the case where the community fund is not enough for the proposed Municipal Program, nor is there enough CC in circulation to purchase the CCMB.
* In the case where the community fund is not enough for the proposed Municipal Program, nor is there enough CC in circulation to purchase the CCMB.
* Then unallocated CCs could be purchased. Unallocated CCs are those that are printed but have not yet been issued or backed by the Network. It would be disastrous for these unallocated CCs to enter circulation without proper backing as it would undermine the local trust in CCs and cause inflation. In this case it is important that the CCs that enter circulation are later removed without causing harm to the Network through inflation.
* In this case the National Currency returned to the holders of the MBCCs after maturity, should be exchanged for CC (which would then be destroyed or removed from circulation). In other words the MBCCs alone would not be able to redeem the National Currency. A MBCC holder would have to have an equivalent about of CC as well. This CC would be collected by the CC verifier and removed from circulation, at which point the MBCC holder would be able to redeem National Currency plus interest if any.
* Then unallocated CCs could be purchased. Unallocated CCs are those that are printed but have not yet been issued or backed by the Network. It would be disastrous for these unallocated CCs to enter circulation without proper backing as it would undermine the local trust in CCs and cause inflation. In this case it is important that the CCs that enter circulation are later removed without causing harm to the Network through inflation.
* In this case the National Currency returned to the holders of the MBCCs after maturity, should be exchanged for CC (which would then be destroyed or removed from circulation). In other words the MBCCs alone would not be able to redeem the National Currency. A MBCC holder would have to have an equivalent about of CC as well. This CC would be collected by the CC verifier and removed from circulation, at which point the MBCC holder would be able to redeem National Currency plus interest if any.
A simple option would be for municipalities to offer a zero interest bond purely purchasable and redeemable in CC from the Community Fund of CC. With the incentive for the Network being that community service is taken care of in CC and the Municipality must also accept enough CC (through taxes or other purchases) to pay back the loan in CC.
#municipalbonds #bonds #communitycurrencies
#municipalbonds #bonds #communitycurrencies
`#municipalbonds <https://www.grassrootseconomics.org/blog/hashtags/municipalbonds>`_
#municipalbonds
`#bonds <https://www.grassrootseconomics.org/blog/hashtags/bonds>`_
#bonds
`#communitycurrencies <https://www.grassrootseconomics.org/blog/hashtags/communitycurrencies>`_
#communitycurrencies
`#municipalbonds <https://www.grassrootseconomics.org/blog/hashtags/municipalbonds>`_ `#bonds <https://www.grassrootseconomics.org/blog/hashtags/bonds>`_ `#communitycurrencies <https://www.grassrootseconomics.org/blog/hashtags/communitycurrencies>`_

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@ -20,29 +20,7 @@ Because of the sucsses in Bangladesh in using Bangla-Pesa to help with school fe
#nairobi #kawangware #bangla #gatina
`#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_ `#kawangware <https://www.grassrootseconomics.org/blog/hashtags/kawangware>`_ `#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_ `#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#nairobi #kawangware #bangla #gatina
#nairobi #kawangware #bangla #gatina
`#nairobi <https://www.grassrootseconomics.org/blog/hashtags/nairobi>`_
#nairobi
`#kawangware <https://www.grassrootseconomics.org/blog/hashtags/kawangware>`_
#kawangware
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#gatina

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@ -8,7 +8,7 @@
.. image:: images/blog/nairobi-coordinator1.webp

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@ -36,7 +36,7 @@ Just two months since they had their launch, the Lindi Business Network (LBN) is
.. image:: images/blog/nairobis-1st39.webp
.. image:: images/blog/nairobis-1st1.webp
@ -46,7 +46,7 @@ Just two months since they had their launch, the Lindi Business Network (LBN) is
The use of Lindi-Pesa has enabled these women to exchange their goods and services, even when they lack enough money due to poverty and economic downturns. Pamela concludes by noting, “As a business woman in this community, I want to take charge of my family’s livelihood, I want afford my children’s school fees and still have enough to save so that I can expand my business.”
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
`#gatina <https://www.grassrootseconomics.org/blog/hashtags/gatina>`_
#gatina

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@ -8,93 +8,65 @@
.. image:: images/blog/network-integrity18.webp
.. image:: images/blog/network-integrity1.webp
**It is well know that - In a world where you can buy or sell anything - integrity is priceless. This is just as true when everything can be bought and sold in a community currency.**
**It is well know that - In a world where you can buy or sell anything - integrity is priceless. This is just as true when everything can be bought and sold in a community currency.**
I’m often struck by the fundamental question:
*What you are asking people to adopt with a community currency, really?*
*What you are asking people to adopt with a community currency, really?*
At the core of community currency is the golden rule:
**You offer your goods and services as you would have others offer theirs.**
**aka Pay it forward... aka Trust starts with you....**
**Wait, what?!**
**You offer your goods and services as you would have others offer theirs.**
**aka Pay it forward... aka Trust starts with you....**
**Wait, what?!**
That alone sounds completely doomed to fail and here is why…..
**The Currency Death Cycle (CDC):**
**The Currency Death Cycle (CDC):**
.. image:: images/blog/network-integrity75.webp
* How could I offer my goods or services with a community currency as payment? I would loose goods and services and I don’t trust that I can spend the community currency again!
* No one will accept this community currency from me to purchase their goods and services ! Because they don't think they they will be able to spend it again and just loose their goods or services.
* How could I offer my goods or services with a community currency as payment? Because I would loose goods and services and I don’t trust that I can spend the community currency again!
* No one will accept this community currency from me to purchase their goods and services ! Because they don't think they they will be able to spend it again and just loose their goods or services.
* And so on…..
* How could I offer my goods or services with a community currency as payment? I would loose goods and services and I don’t trust that I can spend the community currency again!
* No one will accept this community currency from me to purchase their goods and services ! Because they don't think they they will be able to spend it again and just loose their goods or services.
* How could I offer my goods or services with a community currency as payment? Because I would loose goods and services and I don’t trust that I can spend the community currency again!
* No one will accept this community currency from me to purchase their goods and services ! Because they don't think they they will be able to spend it again and just loose their goods or services.
* And so on…..
Each time a currency is denied acceptance, the CDC gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a TRUSTED medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that many a community currency has fallen to the CDC.
**Each time a currency is denied acceptance, the CDC gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a TRUSTED medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that many a community currency has fallen to the CDC.**
Each time a currency is denied acceptance, the CDC gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a TRUSTED medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that many a community currency has fallen to the CDC.
**Each time a currency is denied acceptance, the CDC gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a TRUSTED medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that many a community currency has fallen to the CDC.**
Each time a currency is denied acceptance, the CDC gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a TRUSTED medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that many a community currency has fallen to the CDC.
**Each time a currency is denied acceptance, the CDC gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a TRUSTED medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that many a community currency has fallen to the CDC.**
Each time a currency is denied acceptance, the CDC gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a TRUSTED medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that many a community currency has fallen to the CDC.
Each time a currency is denied acceptance, the **CDC** gets worse and worse – its circular reasoning leaves us all wanting, and unwilling to trade with each other – often even when we are cash poor. Whole markets can collapse because of the lack of a medium of exchange - specifically a **TRUSTED** medium of exchange. Generally that trust must originate somewhere else, with a king, or a central bank. Note that **many** a community currency has fallen to the CDC.
While the Golden Rule might be enough to withstand a mild CDC in some small communities, there must be some foundational golden nugget for a community currency:
**Establishing trust in redemption at the full value it was received.**
**Establishing trust in redemption at the full value it was received.**
This brings us to national currencies and our current default State of Trust on State (SOTOS):
This brings us to national currencies and our current default **State of Trust on State (SOTOS):**
**This brings us to national currencies and our current default State of Trust on State (SOTOS):**
**“At least if I hold National Currency I know I can pay for what I need.”**
**“At least if I hold National Currency I know I can pay for what I need.”**
This default state (SOTOS) that we all live in, effectively nullifies the CDC for a national currency because people KNOW they can spend it again - Unless things go really wrong (like in Zimbabwe.... and I hope not the rest of the world soon.)
**This default state (SOTOS) that we all live in, effectively nullifies the CDC for a national currency because people KNOW they can spend it again - Unless things go really wrong (like in Zimbabwe.... and I hope not the rest of the world soon.)**
This default state (SOTOS) that we all live in, effectively nullifies the CDC for a national currency because people KNOW they can spend it again - Unless things go really wrong (like in Zimbabwe.... and I hope not the rest of the world soon.)
**This default state (SOTOS) that we all live in, effectively nullifies the CDC for a national currency because people KNOW they can spend it again - Unless things go really wrong (like in Zimbabwe.... and I hope not the rest of the world soon.)**
This default state (SOTOS) that we all live in, effectively nullifies the CDC for a national currency because people KNOW they can spend it again - Unless things go really wrong (like in Zimbabwe.... and I hope not the rest of the world soon.)
This default state (SOTOS) that we all live in, effectively nullifies the **CDC** for a national currency because people **KNOW** they can spend it again - Unless things go really wrong (like in Zimbabwe.... and I hope not the rest of the world soon.)
A fundamental question a community currency must try to answer is:
**How can we create economies, flows and reciprocity without falling into the CDC – without relying solely on government or banks (SOTOS)?**
**How can we create economies, flows and reciprocity without falling into the CDC – without relying solely on government or banks (SOTOS)?**
By far the simplest idea is the concept of a voucher. Rather than the State vouching for a currencies redeem-ability – why not a business?
Canadian Tire Money – are denominated vouchers issued by a tire company which accepts them back at face value to the Canadian Dollar for tires. It’s quite simple and they have been in small circulation for decades.
`Canadian Tire Money <https://en.wikipedia.org/wiki/Canadian_Tire_money>`_ – are denominated vouchers issued by a tire company which accepts them back at face value to the Canadian Dollar for tires. It’s quite simple and they have been in small circulation for decades.
`Canadian Tire Money <https://en.wikipedia.org/wiki/Canadian_Tire_money>`_
In Kenya – chamas (such as farmer’s savings groups) can issue a voucher for food they produce and accept it back at face value to Kenyan shillings.
@ -102,29 +74,23 @@ In Kenya – chamas (such as farmer’s savings groups) can issue a voucher for
In this case the issuer of the voucher is the entity you trust. If they refuse it, you could seek legal support from the local government, elders, chief etc. Generally vouchers are governed by contract law as promissory notes.
**How could a voucher like Canadian Tire Money enter general circulation?**
**If I have a tire voucher, can I buy food with it? - Why not, assuming the food seller accepts?**
*If food seller re-spent that voucher later on labor - can it then be redeemed for food? - While not obligated to do so - you might imagine she would have, given she took it in the first place.*
**How could a voucher like Canadian Tire Money enter general circulation?**
**If I have a tire voucher, can I buy food with it? - Why not, assuming the food seller accepts?**
*If food seller re-spent that voucher later on labor - can it then be redeemed for food? - While not obligated to do so - you might imagine she would have, given she took it in the first place.*
But as the voucher starts to circulate farther and farther from people who want tires or even know of the Canadian Tire Company it would start to feel the CDC more and more. :(
**But as the voucher starts to circulate farther and farther from people who want tires or even know of the Canadian Tire Company it would start to feel the CDC more and more. :(**
But as the voucher starts to circulate farther and farther from people who want tires or even know of the Canadian Tire Company it would start to feel the **CDC** more and more. :(
But as the voucher starts to circulate farther and farther from people who want tires or even know of the Canadian Tire Company it would start to feel the CDC more and more. :(
**What if, as the voucher entered certain jurisdictions or communities it could be converted into other local vouchers? In other words, what if the food seller could convert the tire voucher into a food voucher – when redeeming it / selling it for other goods and services? - Hence at that point they could choose to make it their own voucher.**
What if, as the voucher entered certain jurisdictions or communities it could be converted into other local vouchers? In other words, what if the food seller could convert the tire voucher into a food voucher – when redeeming it / selling it for other goods and services? - Hence at that point they could choose to make it their own voucher.
**What if, as the voucher entered certain jurisdictions or communities it could be converted into other local vouchers? In other words, what if the food seller could convert the tire voucher into a food voucher – when redeeming it / selling it for other goods and services?** - Hence at that point they could choose to make it their own voucher.
This choice could be made automatic – even mandatory in some networks:
**Hence if you accept a tire voucher for payment and redeem it for anything but a tire, then it becomes your voucher and you should redeem it again yourself.**
*But how much are Tire vouchers worth compared to food vouchers? For this conversion to take place, you would need some higher form of Trust, that would establish the relative value of the two vouchers.*
**Hence if you accept a tire voucher for payment and redeem it for anything but a tire, then it becomes your voucher and you should redeem it again yourself.**
*But how much are Tire vouchers worth compared to food vouchers? For this conversion to take place, you would need some higher form of Trust, that would establish the relative value of the two vouchers.*
But how much are Tire vouchers worth compared to food vouchers? For this conversion to take place, you would need some higher form of Trust, that would establish the relative value of the two vouchers.
@ -135,58 +101,26 @@ But how much are Tire vouchers worth compared to food vouchers? For this convers
Here we enter blockchain decentralized infrastructure and blockchain based transparent and immutable contracts as solutions to scaling trust through trustless / formulaic systems.
**Here we enter blockchain decentralized infrastructure and blockchain based transparent and immutable contracts as solutions to scaling trust through trustless / formulaic systems.**
Here we enter blockchain decentralized infrastructure and blockchain based transparent and immutable contracts as solutions to scaling trust through trustless / formulaic systems.
Here we enter **blockchain** decentralized infrastructure and blockchain based transparent and immutable contracts as solutions to scaling trust through trustless / formulaic systems.
While Canadian Tire Money and the Farmers’ Food vouchers could be great by themselves – in-order to scale without suffering from CDC – they need to be bounded in supply and convertible without a middle man to other vouchers . If we were to apply this binding to syntropic principals for currencies, it would fit under Management: Ensure that the growth of a Community Currency is clearly bounded and its supply and value can’t keep growing forever.
While Canadian Tire Money and the Farmers’ Food vouchers could be great by themselves – in-order to scale without suffering from CDC – they need to be bounded in supply and convertible without a middle man to other vouchers . If we were to apply this binding to `syntropic principals for currencies <https://www.grassrootseconomics.org/post/food-forests-and-syntropic-currencies>`_, it would fit under **Management:** Ensure that the growth of a Community Currency is clearly bounded and its supply and value can’t keep growing forever.
While Canadian Tire Money and the Farmers’ Food vouchers could be great by themselves – in-order to scale without suffering from CDC – they need to be bounded in supply and convertible without a middle man to other vouchers . If we were to apply this binding to syntropic principals for currencies, it would fit under Management: Ensure that the growth of a Community Currency is clearly bounded and its supply and value can’t keep growing forever.
**While Canadian Tire Money and the Farmers’ Food vouchers could be great by themselves – in-order to scale without suffering from CDC – they need to be bounded in supply and convertible without a middle man to other vouchers . If we were to apply this binding to syntropic principals for currencies, it would fit under Management: Ensure that the growth of a Community Currency is clearly bounded and its supply and value can’t keep growing forever.**
While Canadian Tire Money and the Farmers’ Food vouchers could be great by themselves – in-order to scale without suffering from CDC – they need to be bounded in supply and convertible without a middle man to other vouchers . If we were to apply this binding to syntropic principals for currencies, it would fit under Management: Ensure that the growth of a Community Currency is clearly bounded and its supply and value can’t keep growing forever.
`syntropic principals for currencies <https://www.grassrootseconomics.org/post/food-forests-and-syntropic-currencies>`_
If the tire voucher issuers wanted to ensure that their vouchers would be convertible to other vouchers there would need to be some point of relative value. Well, this is the perfect use case for a blockchain contract. The contract could transparently establish that for each tire voucher there is an amount of reserve. This reserve could be anything the issuer chose, such as a US dollar stable token.
**If the tire voucher issuers wanted to ensure that their vouchers would be convertible to other vouchers there would need to be some point of relative value. Well, this is the perfect use case for a blockchain contract. The contract could transparently establish that for each tire voucher there is an amount of reserve. This reserve could be anything the issuer chose, such as a US dollar stable token.**
If the tire voucher issuers wanted to ensure that their vouchers would be convertible to other vouchers there would need to be some point of relative value. Well, this is the perfect use case for a blockchain contract. The contract could transparently establish that for each tire voucher there is an amount of reserve. This reserve could be anything the issuer chose, such as a US dollar stable token.
If the tire voucher issuers wanted to ensure that their vouchers would be convertible to other vouchers there would need to be some point of relative value. Well, this is the **perfect use case for a blockchain contract**. The contract could transparently establish that for each tire voucher there is an amount of reserve. This reserve could be anything the issuer chose, such as a US dollar stable token.
Say that for every tire voucher there is 1:1 backing with Canadian Dollars and if the food voucher we’re similarly backed 1:1 by the same reserve then the relative value of each would be the Reserve over Voucher Supply and they would have equal value to each other. ( P = Reserve / Voucher_Supply = 1 )
*Say that for every tire voucher there is 1:1 backing with Canadian Dollars and if the food voucher we’re similarly backed 1:1 by the same reserve then the relative value of each would be the Reserve over Voucher Supply and they would have equal value to each other. ( P = Reserve / Voucher_Supply = 1 )*
But if the food voucher was only partially backed say 50% backed by Canadian Dollars then it would have less value than the tire voucher. Hence 1 Tire voucher would be worth 2 Food vouchers.
By backing in National Currency we have not saved ourselves from the problem of excessive SOTOS – (our State of Trust on State). But what if instead of a national currency we created or chose a trusted network token with no intrinsic value to national currency, but rather other goods and services? Such a Network Token could be created by a non-profit foundation that seeks to help communities in need. This Network token would be a pivoting point for establishing relative value between all the vouchers that use it as a reserve. This is what we have in Kenya with Sarafu as our network token.
By backing in National Currency we have not saved ourselves from the problem of excessive SOTOS – (our State of Trust on State). **But what if instead of a national currency we created or chose a trusted network token with no intrinsic value to national currency, but rather other goods and services?** Such a Network Token could be created by a non-profit foundation that seeks to help communities in need. This Network token would be a pivoting point for establishing relative value between all the vouchers that use it as a reserve. This is what we have in Kenya with `Sarafu <https://www.grassrootseconomics.org/sarafu-network>`_ as our network token.
**By backing in National Currency we have not saved ourselves from the problem of excessive SOTOS – (our State of Trust on State). But what if instead of a national currency we created or chose a trusted network token with no intrinsic value to national currency, but rather other goods and services? Such a Network Token could be created by a non-profit foundation that seeks to help communities in need. This Network token would be a pivoting point for establishing relative value between all the vouchers that use it as a reserve. This is what we have in Kenya with Sarafu as our network token.**
By backing in National Currency we have not saved ourselves from the problem of excessive SOTOS – (our State of Trust on State). But what if instead of a national currency we created or chose a trusted network token with no intrinsic value to national currency, but rather other goods and services? Such a Network Token could be created by a non-profit foundation that seeks to help communities in need. This Network token would be a pivoting point for establishing relative value between all the vouchers that use it as a reserve. This is what we have in Kenya with Sarafu as our network token.
By backing in National Currency we have not saved ourselves from the problem of excessive SOTOS – (our State of Trust on State). But what if instead of a national currency we created or chose a trusted network token with no intrinsic value to national currency, but rather other goods and services? Such a Network Token could be created by a non-profit foundation that seeks to help communities in need. This Network token would be a pivoting point for establishing relative value between all the vouchers that use it as a reserve. This is what we have in Kenya with Sarafu as our network token.
`Sarafu <https://www.grassrootseconomics.org/sarafu-network>`_
The means that the trust established by the tire voucher issuer can now be transferred to the food voucher issuer. In other words, since both the the food voucher and the tire voucher can be converted to their reserve in Sarafu – their value can be known automatically and they can be accepted anywhere that uses Sarafu. Hence Sarafu as a network token becomes an agreement between voucher issuers.
@ -196,12 +130,7 @@ In this case Sarafu is a bootstrap in Kenya. If businesses can accept Sarafu the
You might object and say – “you have merely delayed the CDC (Currency Death Cycle)” but perhaps not - as long as Sarafu is redeemable for something some of the network needs over time. If Sarafu is backed only by National Currency (with occasional buy outs) we are still in SOTOS, but what if such a network token like Sarafu could be backed by the flour from a large maize mill – or even another voucher like Canadian Tire Money themselves.
**You might object and say – “you have merely delayed the CDC (Currency Death Cycle)” but perhaps not - as long as Sarafu is redeemable for something some of the network needs over time. If Sarafu is backed only by National Currency (with occasional buy outs) we are still in SOTOS, but what if such a network token like Sarafu could be backed by the flour from a large maize mill – or even another voucher like Canadian Tire Money themselves.**
You might object and say – “you have merely delayed the CDC (Currency Death Cycle)” but perhaps not - as long as Sarafu is redeemable for something some of the network needs over time. If Sarafu is backed only by National Currency (with occasional buy outs) we are still in SOTOS, but what if such a network token like Sarafu could be backed by the flour from a large maize mill – or even another voucher like Canadian Tire Money themselves.
You might object and say – **“you have merely delayed the CDC (Currency Death Cycle)”** but perhaps not - as long as Sarafu is redeemable for something some of the network needs over time. If Sarafu is backed only by National Currency (with occasional buy outs) we are still in SOTOS, but what if such a network token like Sarafu could be backed by the flour from a large maize mill – or even another voucher like Canadian Tire Money themselves.
@ -209,43 +138,21 @@ You might object and say – “you have merely delayed the CDC (Currency Death
Here today in Kenya we have 16 Million Sarafu network tokens,that has been distributed freely into a population of 40,000 Kenyan farmers, shop keepers, schools and so on. With occasional purchases of Sarafu from donors and the development of cooperative businesses that act as backing. Communities are getting ready now to take the Sarafu they are using and lock it into a contract (like the Bancor Protocol) on a blockchain which will then mint their own voucher (token, Community Inclusion Currency).
Here today in Kenya we have 16 Million `Sarafu <https://www.grassrootseconomics.org/sarafu-network>`_ network tokens,that has been distributed freely into a population of 40,000 Kenyan farmers, shop keepers, schools and so on. With occasional purchases of Sarafu from donors and the development of cooperative businesses that act as backing. Communities are getting ready now to take the Sarafu they are using and lock it into a contract (like the `Bancor Protocol <https://docs.bancor.network/>`_) on a blockchain which will then mint their own voucher (token, Community Inclusion Currency).
Here today in Kenya we have 16 Million Sarafu network tokens,that has been distributed freely into a population of 40,000 Kenyan farmers, shop keepers, schools and so on. With occasional purchases of Sarafu from donors and the development of cooperative businesses that act as backing. Communities are getting ready now to take the Sarafu they are using and lock it into a contract (like the Bancor Protocol) on a blockchain which will then mint their own voucher (token, Community Inclusion Currency).
Here today in Kenya we have 16 Million Sarafu network tokens,that has been distributed freely into a population of 40,000 Kenyan farmers, shop keepers, schools and so on. With occasional purchases of Sarafu from donors and the development of cooperative businesses that act as backing. Communities are getting ready now to take the Sarafu they are using and lock it into a contract (like the Bancor Protocol) on a blockchain which will then mint their own voucher (token, Community Inclusion Currency).
`Sarafu <https://www.grassrootseconomics.org/sarafu-network>`_ `Bancor Protocol <https://docs.bancor.network/>`_
.. image:: images/blog/network-integrity355.webp
Groups of women farmers, shop keepers, teachers and so on in chamas have come together and planned to issue a voucher for their specific goods and services – signed and approved by local authorities – and backed with a reserve of Sarafu; Once the social and blockchain contracts are signed, then they can spend those vouchers in another village where people can convert them to their own vouchers (via Sarafu as a Network Token). Because of the commitment to redeem their own vouchers and their relative value to Sarafu, which is the reserve in all the CICs in villages around them – there can be a state of mutual trust and avoidance of the Currency Death Cycle (CDC) beyond the sole State of Trust of State (SOTOS). The concept here is a community of currencies providing a network of stability - or Canadian Tire Money like vouchers multiplied by the number of businesses and chamas across Kenya that see value in issuing their own credit while lacking Kenyan Shilllings.
**Groups of women farmers, shop keepers, teachers and so on in chamas have come together and planned to issue a voucher for their specific goods and services – signed and approved by local authorities – and backed with a reserve of Sarafu; Once the social and blockchain contracts are signed, then they can spend those vouchers in another village where people can convert them to their own vouchers (via Sarafu as a Network Token). Because of the commitment to redeem their own vouchers and their relative value to Sarafu, which is the reserve in all the CICs in villages around them – there can be a state of mutual trust and avoidance of the Currency Death Cycle (CDC) beyond the sole State of Trust of State (SOTOS). The concept here is a community of currencies providing a network of stability - or Canadian Tire Money like vouchers multiplied by the number of businesses and chamas across Kenya that see value in issuing their own credit while lacking Kenyan Shilllings.**
**In a world where you can buy or sell anything with community currency – Network Integrity is Priceless.**
Groups of women farmers, shop keepers, teachers and so on in chamas have come together and planned to issue a voucher for their specific goods and services – signed and approved by local authorities – and backed with a reserve of Sarafu; Once the social and blockchain contracts are signed, then they can spend those vouchers in another village where people can convert them to their own vouchers (via Sarafu as a Network Token). Because of the commitment to redeem their own vouchers and their relative value to Sarafu, which is the reserve in all the CICs in villages around them – there can be a state of mutual trust and avoidance of the Currency Death Cycle (CDC) beyond the sole State of Trust of State (SOTOS). The concept here is a community of currencies providing a network of stability - or Canadian Tire Money like vouchers multiplied by the number of businesses and chamas across Kenya that see value in issuing their own credit while lacking Kenyan Shilllings.
Hence a trusted Network token that holds together various community currencies is extremely important. Note that nation states like Kenya could and should enable a decentralized value driven economy to form themselves and spread it by issuing their **own Central Bank Digital Currencies** that could be used as reserves and Network Tokens. But we can’t wait for that to happen and even then, we don't want to be in excess SOTOS.
**In a world where you can buy or sell anything with community currency – Network Integrity is Priceless.**
Hence a trusted Network token that holds together various community currencies is extremely important. Note that nation states like Kenya could and should enable a decentralized value driven economy to form themselves and spread it by issuing their own Central Bank Digital Currencies that could be used as reserves and Network Tokens. But we can’t wait for that to happen and even then, we don't want to be in excess SOTOS.
**Hence a trusted Network token that holds together various community currencies is extremely important. Note that nation states like Kenya could and should enable a decentralized value driven economy to form themselves and spread it by issuing their own Central Bank Digital Currencies that could be used as reserves and Network Tokens. But we can’t wait for that to happen and even then, we don't want to be in excess SOTOS.**
Hence a trusted Network token that holds together various community currencies is extremely important. Note that nation states like Kenya could and should enable a decentralized value driven economy to form themselves and spread it by issuing their own Central Bank Digital Currencies that could be used as reserves and Network Tokens. But we can’t wait for that to happen and even then, we don't want to be in excess SOTOS.
**Let’s enable credit creation by the masses – just as Canadian Tire Money has shown us – but do it on a public ledger (blockchain) using Network Tokens to link all these vouchers together into a decentralized economy based on real value. Someday there will be open competition and collaboration among Network Tokens to cover all that we want to value.**
Let’s enable credit creation by the masses – just as Canadian Tire Money has shown us – but do it on a public ledger (blockchain) using Network Tokens to link all these vouchers together into a decentralized economy based on real value. Someday there will be open competition and collaboration among Network Tokens to cover all that we want to value.
**Let’s enable credit creation by the masses** – just as Canadian Tire Money has shown us – but do it on a public ledger (blockchain) using Network Tokens to link all these vouchers together into a decentralized economy based on real value. Someday there will be open competition and collaboration among Network Tokens to cover all that we want to value.

46
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@ -8,7 +8,7 @@
.. image:: images/blog/new-bills18.webp
.. image:: images/blog/new-bills1.webp
@ -24,19 +24,10 @@
We attended a meeting on DOEN's New Economy program, where our newest version of community currency bills were unveiled in Amsterdam. The new bills are printed in Germany on special paper provided by STRO. They are the most secure and advanced bills we've ever used!
We attended a meeting on `DOEN's New Economy program <http://www.doen.nl/what-we-do/green/new-economy.htm>`_, where our newest version of community currency bills were unveiled in Amsterdam. The new bills are printed in Germany on special paper provided by `STRO <http://www.socialtrade.nl/>`_. They are the most secure and advanced bills we've ever used!
We attended a meeting on DOEN's New Economy program, where our newest version of community currency bills were unveiled in Amsterdam. The new bills are printed in Germany on special paper provided by STRO. They are the most secure and advanced bills we've ever used!
We attended a meeting on DOEN's New Economy program, where our newest version of community currency bills were unveiled in Amsterdam. The new bills are printed in Germany on special paper provided by STRO. They are the most secure and advanced bills we've ever used!
`DOEN's New Economy program <http://www.doen.nl/what-we-do/green/new-economy.htm>`_ `STRO <http://www.socialtrade.nl/>`_
@ -48,45 +39,18 @@ These bills will go into circulation first in a rural area near Mombasa with up
We were also honored to visit TimeLab in Ghent this month and also give a talk to like-minded people throughout Belglum.
We were also honored to visit `TimeLab <http://timelab.org/>`_ in Ghent this month and also give a talk to like-minded people throughout Belglum.
We were also honored to visit TimeLab in Ghent this month and also give a talk to like-minded people throughout Belglum.
`TimeLab <http://timelab.org/>`_
Other news: In the Kawangware slum this month, more than 100 Dollars worth of Community Currency circulated among three schools providing schools fees for over 400 students.
#sarafu #newbills #doen #stro
`#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_ `#newbills <https://www.grassrootseconomics.org/blog/hashtags/newbills>`_ `#doen <https://www.grassrootseconomics.org/blog/hashtags/doen>`_ `#stro <https://www.grassrootseconomics.org/blog/hashtags/stro>`_
#sarafu #newbills #doen #stro
#sarafu #newbills #doen #stro
`#sarafu <https://www.grassrootseconomics.org/blog/hashtags/sarafu>`_
#sarafu
`#newbills <https://www.grassrootseconomics.org/blog/hashtags/newbills>`_
#newbills
`#doen <https://www.grassrootseconomics.org/blog/hashtags/doen>`_
#doen
`#stro <https://www.grassrootseconomics.org/blog/hashtags/stro>`_
#stro

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.. image:: images/blog/new-business18.webp
.. image:: images/blog/new-business1.webp

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@ -8,41 +8,16 @@
.. image:: images/blog/news-from18.webp
.. image:: images/blog/news-from1.webp
Every now and then we get news of great things happening in Brazil. Here is a wonderful blog that details some things happening there. http://www.reconomy.org/community-currencies-in-brazil-interview/ The team hopes to be going there in October, sharing and bringing back a lot of new ideas!
Every now and then we get news of great things happening in Brazil. Here is a wonderful blog that details some things happening there. http://www.reconomy.org/community-currencies-in-brazil-interview/ The team hopes to be going there in October, sharing and bringing back a lot of new ideas!
`http://www.reconomy.org/community-currencies-in-brazil-interview/ <http://www.reconomy.org/community-currencies-in-brazil-interview/>`_
#brazil #communitycurrencies
`#brazil <https://www.grassrootseconomics.org/blog/hashtags/brazil>`_
#brazil
`#communitycurrencies <https://www.grassrootseconomics.org/blog/hashtags/communitycurrencies>`_
#communitycurrencies
`#brazil <https://www.grassrootseconomics.org/blog/hashtags/brazil>`_ `#communitycurrencies <https://www.grassrootseconomics.org/blog/hashtags/communitycurrencies>`_

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@ -8,7 +8,7 @@
.. image:: images/blog/ngombeni-pesa-artwork18.webp
.. image:: images/blog/ngombeni-pesa-artwork1.webp
@ -32,17 +32,10 @@ At our 3rd large scale community meeting on April 18th 2015 we talked with a pot
`#ngombeni <https://www.grassrootseconomics.org/blog/hashtags/ngombeni>`_
`#ngombeni <https://www.grassrootseconomics.org/blog/hashtags/ngombeni>`_
#ngombeni

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@ -12,25 +12,14 @@ The Bangla-Pesa crew is getting ready for our November 23rd re-launch. We have c
Our agenda for the day includes:
Our agenda for the day includes:
Our agenda for the day includes:
* A match with the Bangla-Pesa volley ball team.
* Displays of various media on Bangla-Pesa including our newest animation.
* Speeches from honored guests, lawyers and community members
* An enactment drama of Bangla-Pesa past present and future.
* Program's Official re-Launch Ribbon Cutting
* A match with the Bangla-Pesa volley ball team.
* Displays of various media on Bangla-Pesa including our newest animation.
* Speeches from honored guests, lawyers and community members
* An enactment drama of Bangla-Pesa past present and future.
* Program's Official re-Launch Ribbon Cutting
Look out for the Bangla-Pesa street sign. Emma Onyango will operating out of various shops in the community accepting registrations in the program.
@ -39,23 +28,10 @@ Look out for the Bangla-Pesa street sign. Emma Onyango will operating out of var
`Bangla-Pesa was featured on Public Radio International today. <http://www.pri.org/stories/2013-11-13/african-slum-lacked-cash-so-people-made-their-own>`_
#bangla #complementarycurrencies #grassrootseconomicsnews
`Bangla-Pesa was featured on Public Radio International today. <http://www.pri.org/stories/2013-11-13/african-slum-lacked-cash-so-people-made-their-own>`_
#bangla #complementarycurrencies #grassrootseconomicsnews
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_ `#complementarycurrencies <https://www.grassrootseconomics.org/blog/hashtags/complementarycurrencies>`_ `#grassrootseconomicsnews <https://www.grassrootseconomics.org/blog/hashtags/grassrootseconomicsnews>`_
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
#bangla
`#complementarycurrencies <https://www.grassrootseconomics.org/blog/hashtags/complementarycurrencies>`_
#complementarycurrencies
`#grassrootseconomicsnews <https://www.grassrootseconomics.org/blog/hashtags/grassrootseconomicsnews>`_
#grassrootseconomicsnews

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@ -8,7 +8,7 @@
.. image:: images/blog/not-your18.webp
.. image:: images/blog/not-your1.webp
@ -44,13 +44,7 @@ This system creates an interest free source of credit and market stability for t
#bangla #duka
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_
`#bangla <https://www.grassrootseconomics.org/blog/hashtags/bangla>`_ `#duka <https://www.grassrootseconomics.org/blog/hashtags/duka>`_
#bangla
`#duka <https://www.grassrootseconomics.org/blog/hashtags/duka>`_
#duka

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.. image:: images/blog/one-church18.webp
.. image:: images/blog/one-church1.webp
@ -50,5 +50,5 @@ He quotes “ If it were not for Sarafu, I would not be where I am. Sarafu has e
Dzeha’s church is a pillar of support representing the majority of CIC trade in the community. In just the last month during the COVID crisis the church has:
* Received 97,303 CICs in 252 transactions from 181 people,
* Spent 126,638 CIC in 248 transactions to 42 people. This represents as much as 6000 individual meals in a community!
* Received 97,303 CICs in 252 transactions from 181 people,
* Spent 126,638 CIC in 248 transactions to 42 people. This represents as much as 6000 individual meals in a community!

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