ECO Social Currency
= ECO is the social currency used by the Catalan Integral Cooperative
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Description
"The social currency within the cooperative is used as a tool to account transparently the exchange between individuals, to facilitate multi-reciprocal exchanges, and immediate exchange between people in an eco-network or in CIC. On a practical level a computer software, CES (Community Exchange System), which is responsible for registering exchange, is used. It also has a space to display your offers and demands similar to a bulletin board.
The strength of the social currency comes from the mutual trust between the people who participate in the exchange, hence it is easier to create trust in smaller communities. It is one of the reasons that each eco-network has its own social currency, the exchange with other eco-networks is still possible, and for the time being the CIC has its own social currency, ECO, whose use is widespread in all around Catalonia instead of being located in a particular bioregion, so that all associates of the CIC can participate." (http://cooperativa.cat/en/economic-system/social-currency-2/)
Characteristics
... of the ECO :
- 1 unity equals to 1 euro and to other social currencies, except those that eco-networks use at the moment as an exchange reference.
- Euros can be converted to ECOs but not the otherway around.
- A limited debt is possible (meaning one can have a negative balance). This amount is decided in the assembly.
- Simultaneous participation to a local eco-network currency and the CIC currency is permitted.
- If you already have an eco-network account, local currency and cooperative currency can be exchanged.
- If you do not have an eco-network account, you can buy and sell through your account in the integral cooperative.
Thus, it could be taken as a subsidiary currency for the ones that do not use local money." (http://cooperativa.cat/en/economic-system/social-currency-2/)