OWS Currency: Difference between revisions
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Our mission is to produce free/libre/opensource technologies that help people create their own alternatives to the Federal Reserve Note and the system upon which it derives it's strength. Achieving this doesn't require us to document how the current system works, although that would be extremely useful. It simply requires us to construct an alternative system that does a superior job meeting people's needs. [[Occupy Wall Street]] and subsequent occupations prove that the people are eager for a new system. Let's help them build it. | Our mission is to produce free/libre/opensource technologies that help people create their own alternatives to the Federal Reserve Note and the system upon which it derives it's strength. Achieving this doesn't require us to document how the current system works, although that would be extremely useful. It simply requires us to construct an alternative system that does a superior job meeting people's needs. [[Occupy Wall Street]] and subsequent occupations prove that the people are eager for a new system. Let's help them build it. | ||
=Tools= | |||
i-WAT is a cryptographic circular/multi-party barter software licensed under the GPL and uses PGP encryption. Tickets/IOUS are defined by users with their own value units of exchange. It does not rely on membership to a currency circle, in the sense that it does not require everyone to exchange numerical amounts of coins/cash units, but the labeled items/objects/subjects of the barter transaction. | |||
http://www.media-art-online.org/iwat/ http://www.media-art-online.org/wija/download.html Instruction Manual: [[Neo_in_Wonderland]] | |||
Other software (circular barter exchange): https://www.multiswap.net/about/ | |||
=PermaBank= | =PermaBank= | ||
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PermaBank.cc will launch with the ability for individuals and groups to post their wish/requests and gifts/offers and indicate whether they've been completed. The primary impetus behind this feature is to enhance the efficiency of the gifting culture that currently exists within Liberty Plaza. | PermaBank.cc will launch with the ability for individuals and groups to post their wish/requests and gifts/offers and indicate whether they've been completed. The primary impetus behind this feature is to enhance the efficiency of the gifting culture that currently exists within Liberty Plaza. | ||
'''Mutual | '''Mutual (Multi?) Credit''' | ||
Mutual credit systems allow people to create credit/debt to record their exchanges with one another. A popular example of mutual credit is time banking. When one person serves another for an hour, a credit is created for the provider and deducted from the customer. The net balance of all credits amounts to zero, enabling the system to work operate without a central authority. | |||
We're considering whether or not we want give users the ability to create different types of mutual credits. In this instance, people could create different credits for different types of work. For example, someone who knits sweaters could earn crafting credits and exchange them with a doctor who earns medical credits. This might allow us to transcend the debate in the timebanking community about whether or not everyone's hours should be worth the same amount of credits. | |||
'''Asset-Backed Notes''' | '''Asset-Backed Notes''' | ||
Revision as of 01:07, 16 October 2011
We're deploying an alternative currency system for participants at Occupy Wall Street. This page is to discuss logistics and design.
The design competition is on OWS currency competition
Introduction
Our monetary system is extremely proprietary. Not only are the technologies used to create, utilize and manage money extremely restricted through patents, copyrights, trade secrets and licensing, but the Federal Government has granted a single private bank a monopoly on the production of legal tender. No wonder there's a lack of capital in the markets!
Our mission is to produce free/libre/opensource technologies that help people create their own alternatives to the Federal Reserve Note and the system upon which it derives it's strength. Achieving this doesn't require us to document how the current system works, although that would be extremely useful. It simply requires us to construct an alternative system that does a superior job meeting people's needs. Occupy Wall Street and subsequent occupations prove that the people are eager for a new system. Let's help them build it.
Tools
i-WAT is a cryptographic circular/multi-party barter software licensed under the GPL and uses PGP encryption. Tickets/IOUS are defined by users with their own value units of exchange. It does not rely on membership to a currency circle, in the sense that it does not require everyone to exchange numerical amounts of coins/cash units, but the labeled items/objects/subjects of the barter transaction. http://www.media-art-online.org/iwat/ http://www.media-art-online.org/wija/download.html Instruction Manual: Neo_in_Wonderland
Other software (circular barter exchange): https://www.multiswap.net/about/
PermaBank
PermaBank.cc is a Drupal-based exchange platform built in support of Occupy Wall Street by members of the FLO Solutions Working Group of the NYCGA and others. The premise of PermaBank is to develop and deploy a set of technologies that align 'financial services' with the principles of permaculture.
Features
Gifts/Wishes
PermaBank.cc will launch with the ability for individuals and groups to post their wish/requests and gifts/offers and indicate whether they've been completed. The primary impetus behind this feature is to enhance the efficiency of the gifting culture that currently exists within Liberty Plaza.
Mutual (Multi?) Credit
Mutual credit systems allow people to create credit/debt to record their exchanges with one another. A popular example of mutual credit is time banking. When one person serves another for an hour, a credit is created for the provider and deducted from the customer. The net balance of all credits amounts to zero, enabling the system to work operate without a central authority.
We're considering whether or not we want give users the ability to create different types of mutual credits. In this instance, people could create different credits for different types of work. For example, someone who knits sweaters could earn crafting credits and exchange them with a doctor who earns medical credits. This might allow us to transcend the debate in the timebanking community about whether or not everyone's hours should be worth the same amount of credits.
Asset-Backed Notes
The General Assembly can issue 'notes' to reward people who perform tasks. These notes can be redeemed through a general store (online), affiliated stores (online/offline) and through media (offline.) Ideally we'd use a cryptocurrency such as Bitcoin for these transactions.
- Loyalty Points >> Rewards
We're organizing with a credit union to issue a credit card that gives people reserve notes as a reward for transacting with specific vendors. Similar to BernalBucks.