Social currency v2
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Social currency v2

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complementary currencies

complementary currencies
barter networks
mutual banking

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Social currency v2 Social currency v2 Presentation Transcript

  • SOCIAL CURRENCY EXCHANGE SYSTEMS
  • • In the age of the information society and the network paradigm, social currencies are undoubtedly a powerful tool for communities to promote local employment and (re)connect local productive chains. • The complementary currency research group has identified over 5.000 active projects around the world with over 60 different kinds of purposes ranging from the social economy to energy-backed or knowledge sharing types of monies. • Na era da Sociedade da Informação e do paradigma das redes, as moedas sociais são uma ferramenta incontornável no empowerment das comunidades, na promoção do emprego local e na (re) estruturação do tecido empresarial. • A investigação global em moedas complementares identificou cerca de 5.000 projectos activos que abrangem áreas tão distintas como a economia social, as moedas lastreadas em energia ou os sistemas de transferência de conhecimento.
  • MONEY THAT ROTS! DINHEIRO QUE APODRECE!
  • Fix your stamp here. Cole aqui o seu selo.
  • CO-PRODUCTION: EVERYONE IS AN ASSET! (including the patient /client ) CO-PRODUÇÃO: TODOS TEMOS ALGO PARA DAR (incluíndo o paciente / cliente)
  • CHALENGE TO YOU: CAN YOU DRAW OTHER EXCHANGE MODELS? DESAFIO PARA TI: CONSEGUES DESENHAR OUTROS MODELOS DE TROCAS?
  • Banco Palmas made 24,000 transactions and handled 3.5 million ​ reais only in October [2013]. All with the poor! O Banco Palmas fez 24.000 operações e movimentou 3,5 milhões de reais somente em outubro [2013]. Tudo com os pobres!
  • ECO SOL Kids also play (Catalonia) Brincando com a moeda (Catalunha)
  • Dec2011-Dec2012: 4660 items 2680 trocados 1970 doados 867 participantes (média 63)
  • ‘In a gift economy the more you give, the richer you are’
  • WHO IS HIM? -> QUEM É ESTE?
  • * Simulação de um pagamento online e mobile
  • ¼ of swiss SME uses WIR dual currency system, countercyclical turnover Utilizado por ¼ das PMEs suiças em sistema de pagamento dual, volume de negócios contracíclico
  • Liquidez imediata e total dentro da Rede
  • PRESENTATION NOTES (PDF)
  • social currency exchange systems a historical and conceptual perspective on the evolution of alternative monetary systems
  • • In the age of the information society and the network paradigm, social currencies are undoubtedly a powerful tool to promote local employment and (re)connect local productive chains. • The complementary currency research group has identified over 5.000 active projects around the world with over 60 different kinds of purposes ranging from the social economy to energy-backed or knowledge sharing types of monies. • • • • • • Kubik : water Internet ‘>Transaction costs and P2P Crowdsourcing /many to many / co-working The five interwonen economies Science of complexity /ecology of money Why did MICROFINANCE and MOBILE BANKING leapfrogged in Development countries? Path dependence (no)“catching up”…
  • social circulating capital • • • • • • • • • • • • • • • • • • • • • • “Imagine all banks and currency disapeared” –how d’you move goods? Redeemable vs irrredeemable “notes” /TQM vs TAM /endogenous vs exogenous money Debt rollover and principle of Honor /…Friedman monetarism Propriety of the “Commons” Newton / Darwin / positivism vs mecànica quântica Bartering limitations Cash conversion cycle Asset (short term) liquidity vs asset liquidations (business cycle) Bill market / clearing house vs bank discounting (monopoly) Supply chain integration/bulwhip effect /vertical clearing No inflation credit (only when fraud /fake bills information problem and bad banks) – Real Bills flying “I Am a pencil” Propensity to consume vs propensity to save (and hoarding) Discounting rate vs interest rate Clearing (exchange) vs lending (promess) Liquidity vs Shiftability (colateral/Securitization) Wealth circulation vs acummulation Theory of moral sentiments Money vs credit vs capital surplus Productive circuit vs financial circuit Liquid capital circuit (Monrobey) Ricardian wages/ interest / rents , property rights, money scarcity Fragmentation, separation, specialization, technology, world of strangers
  • • • • • • • • • • • • • • • • • • • • • • • free money with demurrage Factors that limit the rate of interest: primitive production, barter and bills of exchange. Economic entropy / principle of reflux / velocity or quality VS QMT Ancient Egipt cereal banks Wealth distribution effect Keynes vs Gesel (full employment, taxes) LIQUIDITY PREFERENCE “taxing currency would create substitutes which would then serve as medium of exchange, at least in the long run “ (today:Laffer fiscal efficiency ) Fisher stamp script vs Keynes New DEal (emergency currencies) Worgl Experiment The Wara “Artificial carry cost” WIR Cooperative Usury / sin ancient custom of seigniorage Compound interest Interest and income distribution Goods and services implicit interest every price we pay includes a certain amount of interest Taxing a complementary currency vs taxing deposits in euros vs Tobin TAX Degrowth vs innovation Interest and insolvency Keynes bankor international clearing /Lietaer Terra Demurrage ~ gift exchange (in Eisenstein) Gregory Mankiw proposal NY Times 2009 Demurrage and technology (electronic currencies) Dollar backwardation (preference of paper over deposits) Freigeld in germany / German hyperinflation
  • mutual bank • • • • • • • • • • • • • • • • • • No capital requirements for a mutual bank Horizontal clearing Greene / Tucker in England Mutualism / cooperativism in France Cooperativism in Germany “fundos rotativos” Mutual guarantee: labour/ productivity “Collective force” Monopoly of money /personal credit “bank bills are double guaranteed” Elimination of rents interest / higher wages and buying power / lower cost of commodities Proprety and privilege Free banking Elimination of Wage diferentials / inequality of wealth Ownership of capital by workers Natural vs artificial property rights Falenstérios /vilas (Owen) Interest~artificial scarcity~level of unemployment Banking school vs currency school
  • local exchange trading systems • • • • • • • • • • • • • • • • • • Efficiency / externalities in prices Economies of scale vs costumization Monetary deserts, unemployment and debt Consumption vs social exclusion “prosumholders” France SEL Amstelnet & Amsterdam city carbon card Germany Regiogeld - Tauschesring Local buying power vs multinationals Individual vs collective consumption, market vs plan. Loyalty cards and vouchers LETS and productive chains: limitations and alternatives (Mance) Paralel economies (Hernando de Soto) Economic carthography Local fairs “troca-te” vs medieval fairs Triple accounting / guarantor Collective buyng: tractors in Brazil ( local currency vs state subsidy) Stoder: macroeconomic stability with barters SME credit acess, microfinance – • Proved by econometric models (Error correcting model) Gresham Law
  • time banks • • • • • • • • • • • • • • • • • • • • • • • • “support for the small things” hidden resources in the community social reproduction – talking, companionship, sharing skills, small repairs, giving lifts focus shifts from people’s problems to their abilities. “can do’s” Skill Swap projects SCHOOLS (saber ?) -> redeem in computer / scholarships /legal advice / cash vouchers 55 schools in Chicago Banco de tempo Graal 25 branches Social inclusion: but define agency’s mission Excess time donation pools Ithaca hours Edgar Cahn - time dollars – Youth court Italia Banca del tempo ‘infrastructures of provision’ “Potato head” Adopted by policy makers in Japan and China Tokyo hureai kippu (‘ticket for caring relationship’) (complement with small fees in money) buildingsocial capital /trust & self.esteem Building employablility trough recognition and experience for long term unemployeds Finance installments/projects by time debt or credits earned Time bank Hubs : London, UK 300 time banks, 25.000 users Intergenerational / complementary to welfare systems sustainability (horizontal and vertical) Co-production vs manufactures’ demand (Core community) Elinor Ostrom (nobel prize) Promoting the de-centralized Creative Economy
  • gift economies • • • • • • • • • • • • • • • • • • • • • Matriarchal vs patriarchal /nurturing Ethimology co-munity money=co-gift Thepry of social contract (Mauss revisites Hobbes) Polaniy “great transformation” Reciprocity / uninterested giving vs exploitation and “potlach” Quality / rating Social contract Property vs ownership (spirit of the gift) Acceptance “obligation to receive” /(fake) regard / “white elephant” Gift vs sacrifice / concession Technology vs scarcity / surplus Gift vs talent (quality / fairness) Sharing economy vs colaborative economy Calculation and simetry in gift giving Gift exchange (bilateral) vs gift circle (A->B->C, C->B->A) Gift vs donation: Voluntarism and charities Intergenearation support / Family and kinship / household production / leisure FIB vs PIB Mark bonchek “pizza and beer” transaction vs relationship / contract vs community Karma kitchen Graeber: calculation and State / taxation / war - markets as a side effect – Stateless societies tend also to be without markets – Head taxes to indigenous people – Farmers and merchants (debt vs surplus) – “Primordial debt theory” sin guilt (geld) birth/death – Free citizens vs conquered populations – Debt cancels /Jubilee…
  • recent case studies • • Metodologia fomento Palmacard – – – – – • • • • • • • • social technology Solidarity finance vs microfinance Social control /visibility / monitoring Unbanked Internal savings Chiemgauer SOL Viollette (EQUAL, time bank, voucher system, Bristol Pound Soproni Kekfrank (EU payment directives PSD/ SCE) Sardex (commercial barter) Currency Models: napo Hong Kong Octopus card Transitions towns – Totnes, Lewes, Stround, Brixton Pound – Low carbon communities
  • open-source technologies • • • • • Open Source Ecology / Hardware vs open innovation FOSS ~ 3d printing ~ virtual currencies ~ permaculture ~ seed banks Drupal Mutual Credit Community Exchange Systems Online Cyclos Open source (3.7) – Modularization /JAVA • Cyclos Communities Online – Live simulation – Android simulation • • • • • • • • Social trade game Rede Solidária v.0.4 (Mance) http://cc-hub.org/en/cc-marketplace MOBIPAG Portugal NFC “open source banking” = transparency Social constructivist solution (LSE paper) Security issues Legal issues -> ECB Report 2011 • Bitcoin vs Freicoin vs ripple / anarcho-capitalists vs anarcocommunists
  • • • • • • • • • • • • Forward reading • • • • • • • • Ideas 1) Adam Smith – “Real bills” flying: social circulating capital 2) Pierre Joseph Proudhon – mutual (clearing) bank in France 3) Carl Menger – from barter to gold: labor specialization and (reserve) money 4) Silvio Gesell – Free money, demurrage: Great depression and the WIR Cooperative 5) C.H. Douglas – social credit 6) F. Hayek – private competing currencies 7) M. Linton – LETS / Time banks in the US/Canada 80s/90s’ 8) Ellen Brown – Local Public Banks in the US; endogenous money, fiscal currencies and taxation. 9) C. Eisenstein, D.Graeber – returning to gift economies 10) B. Lietaer, M.Kennedy – ecology of money, complementary currency research center and journal), T.Greco – mutual credit clearing systems 11) Euclides Mance, Paul Singer – social economy in Brazil, the networks’ revolution, social currency limitations in local productive chains 12) Heloísa Primavera – el trueque in Argentina 13) Armando Garcia – Notafilia: “Moedas comunitárias de Portugal” 14) Edgar Cahn – Time banking Technologies 1) Community Banks, Banco Palmas methodology – an exportable social technology? 2) Complementary Currency in Action – INTERREG IV B (Northwest of Europe) – what about Southern Europe unemployment? 3) Cyclos Communities Online (STRO) / Community Exchange System Online (CES South Africa): Mapping 5.000 complementary currencies 4) Cyclos (Open Source) and C3 – Commercial Credit Circuit (Camilo Ramada /STRO) 5) IRTA – modern barter and corporate barter (portuguese Redebarter) 6) Supply Chain (finance) sustainability – trade banks in local markets 7) Mobile money in Africa – M-Pesa 8) Mobipag (Portuguese API) – N.F.C possibilities, desertification in Portugal 9) Bitcoin, Freicoin, Ripple – which crypto-currencies? 10) Energy-backed and knowledge-transfer currencies (Energising Report NEF) 11) E-money european legal framework • • Future What can you tell / do? • • • • • • • •
  • About me • My name is Bruno Ricardo Ferreira, I am 31 years old. I graduated in economics in 2005 and I hold a post-graduation in monetary and financial economics. • I developed financial and marketing experience in the following portuguese sectors: telecommunications, banking, insurance, real estate investment, business consulting and mergers & acquisitions. • Currently, I am researching in the fields of digital currency, trade credit academic studies and supply chain finance platforms, with presentations made in some of the most important business associations and corporations from Portugal. My personal investigation includes daily monitoring of press articles, expert reports and opinion bloggers, academic theses, online forums and specialized conferences.