OWS Currency
Introduction
We're deploying an alternative currency system for participants at Occupy Wall Street. This page is to discuss logistics and design.
The design competion is on OWS currency competition
Features
- Offers/Wants >> Gifting
People post what they want or what they offer. This supports a gifting culture. Posts can be recorded as 'fulfilled,' resulting in a recording of the transaction, but no currency changes hands.
- Mutual Credits >> Circular Barter
People create their own IOUs with each other and record them in the system. Each person is asked to maintain an average balance around 0 to achieve maximum system stability. Different types of credit can be used to expand this functionality into time banking.
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
- User Points >> Reserve 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.