Socio-Economic Inclusion

Community Currency Issuance Contract

Why Do We Need Community Currencies?

“Our monetary system must evolve from being a monopoly of conventional money, towards becoming an ‘ecosystem’ of multiple currencies.” - Professor Bernard Lietaer (1942-2019)

Description

The differential value of Community Inclusion Currencies (CIC’s) regarding other community currencies is its capability to enable liquidity in both internal (community currency) and connect to external (national currency) economies, so local productivity can be boosted while guaranteeing users are not trapped in the ecosystem.

A Community Currency (CC) starts by the commitments that their individuals place together. Guaranteeing that there is a set of Good & Services tradable with the CC assures utility, therefore value of the currency.

Adding reserve in hard-currencies (e.g. R-BTC, RDOC - RIF Dollar, DoC - Dollar on Chain) to a commitment assures convertibility (till a certain point) between the CC and the hard-currency that serves as a collateral, as well as diminish the risk associated with the failure of social commitments.

CIC’s enable people, regions and diverse actors to develop stable trade networks and link them to valuable security backing. It is a fair and sustainable care based economy.

The Challenge

The challenge is to develop a Community Currency system, including mint rules and collateral conditions.

It will be amazing if you include risk management, reports or auditing tools to demonstrate the use and value of CC in a community.

Explore the use of bonding curves.

The platform will be able to provide a “Social contract” with your community, while the statement you make about your commitments will serve as an input for deciding the amount of CIC to be supplied to your community.

Guidelines

The following are a number of pointers to consider when developing your solution:

User Personas

Who are the ecosystem personas?

Mint:

Can anyone mint a CC?

What are the conditions for issuing the CC?

Will you consider the use of bonding curves?

Is it possible to mint a CC without a hard-currency collateral?

Are there mechanisms to mint a CC for commitment of goods and services?

The collateral:

What hard-currencies can it have?

Does it have leverage?

How will the mint and burn process be structured?

What Goods & Services can be negotiable?

Risks:

How will you structure the risk management process?

Is there a mint limit per user?

How will you measure the social commitments?

What will happen if someone is considered as a defaulting member?

Can this be managed by a DAO?

Reports / Auditing:

Does the system have a self-auditing function?

Can this generate reports for “net growth”?

Does it provide statistics due to the introduction / usage of the CC?

Demonstrable/provable initial distribution within community

Can this be linked to some form of identity: DID or SSID?

CC and micro-lending

Demonstrate differentiation between CC and micro-lending

Project Ideas

Wallet for CC

Mobile banking

Geolocation

Online banking

NFC - POS

QRcode Payments

E-Commerce Marketplace

Fingerprint Access

Multiple Currencies

Transaction Types

Send multiple transactions

Different Fee Types

Loyalty Points

Language Localization

Analytics

Community Currencies Standards

P2P library of Community Currencies

Resources

The following are categorised resources which may be helpful as references while implementing your solutions.

Business and financial documentation

Complementary Currency - this is a commercial project with many ideas which can be used in a social way

Technical documentation

Token Standards:

Use cases / sample implementations

video in Portuguese with subtitles

E dinheiro - community banks network in Brazil

Mumbuca - community bank and social currency, in the municipality of Maricá-RJ, Brazil

Potential Use Cases
Aid/Remittance PlatformImpact Investment & CrowdlendingSocial ID & ReputationCommunity GovernanceCommunity Currency Issuance ContractCommunity Currencies InteroperabilityCommunity WalletPropose your own

Community Currency Issuance Contract

Why Do We Need Community Currencies?

“Our monetary system must evolve from being a monopoly of conventional money, towards becoming an ‘ecosystem’ of multiple currencies.” - Professor Bernard Lietaer (1942-2019)

Description

The differential value of Community Inclusion Currencies (CIC’s) regarding other community currencies is its capability to enable liquidity in both internal (community currency) and connect to external (national currency) economies, so local productivity can be boosted while guaranteeing users are not trapped in the ecosystem.

A Community Currency (CC) starts by the commitments that their individuals place together. Guaranteeing that there is a set of Good & Services tradable with the CC assures utility, therefore value of the currency.

Adding reserve in hard-currencies (e.g. R-BTC, RDOC - RIF Dollar, DoC - Dollar on Chain) to a commitment assures convertibility (till a certain point) between the CC and the hard-currency that serves as a collateral, as well as diminish the risk associated with the failure of social commitments.

CIC’s enable people, regions and diverse actors to develop stable trade networks and link them to valuable security backing. It is a fair and sustainable care based economy.

The Challenge

The challenge is to develop a Community Currency system, including mint rules and collateral conditions.

It will be amazing if you include risk management, reports or auditing tools to demonstrate the use and value of CC in a community.

Explore the use of bonding curves.

The platform will be able to provide a “Social contract” with your community, while the statement you make about your commitments will serve as an input for deciding the amount of CIC to be supplied to your community.

Guidelines

The following are a number of pointers to consider when developing your solution:

User Personas

Who are the ecosystem personas?

Mint:

Can anyone mint a CC?

What are the conditions for issuing the CC?

Will you consider the use of bonding curves?

Is it possible to mint a CC without a hard-currency collateral?

Are there mechanisms to mint a CC for commitment of goods and services?

The collateral:

What hard-currencies can it have?

Does it have leverage?

How will the mint and burn process be structured?

What Goods & Services can be negotiable?

Risks:

How will you structure the risk management process?

Is there a mint limit per user?

How will you measure the social commitments?

What will happen if someone is considered as a defaulting member?

Can this be managed by a DAO?

Reports / Auditing:

Does the system have a self-auditing function?

Can this generate reports for “net growth”?

Does it provide statistics due to the introduction / usage of the CC?

Demonstrable/provable initial distribution within community

Can this be linked to some form of identity: DID or SSID?

CC and micro-lending

Demonstrate differentiation between CC and micro-lending

Project Ideas

Wallet for CC

Mobile banking

Geolocation

Online banking

NFC - POS

QRcode Payments

E-Commerce Marketplace

Fingerprint Access

Multiple Currencies

Transaction Types

Send multiple transactions

Different Fee Types

Loyalty Points

Language Localization

Analytics

Community Currencies Standards

P2P library of Community Currencies

Resources

The following are categorised resources which may be helpful as references while implementing your solutions.

Business and financial documentation

Complementary Currency - this is a commercial project with many ideas which can be used in a social way

Technical documentation

Token Standards:

Use cases / sample implementations

video in Portuguese with subtitles

E dinheiro - community banks network in Brazil

Mumbuca - community bank and social currency, in the municipality of Maricá-RJ, Brazil

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