Community-Powered Money

Community-Powered Money

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Community-Powered Money

This is an awesome article on the amazing potential of new forms of community credit. The community might be place-based, or it might be communities of interest (as in a business-to-business network). 

Technologies like the blockchain are going to open up whole new possibilities for ownership and creating highly distributed, local economies. That’s what nature would do. It’s time to start changing our assumptions about what we want our money to do, before we start applying the same stupid mentalities that have gotten us where we are, onto the powerful new technologies now emerging. 

This article is a good place to start for understanding community credit. 

https://biomimicry.org/community-credit/#.VkeGGd-rTFx

17 comments

  1. Gideon Rosenblatt​ this is superbly written article! I believe in the power of local networks. Could you share with me some of the practical ways a community credit system might stimulate the right incentives for building a stronger community?

  2. Excellent! A light at the end of the tunnel.

  3. Gregory Esau​ have you read this yet? This is right in GLIA’s lens of focus.

  4. c/o Curating Content for the Attention Economy 

  5. Gideon Rosenblatt Interesting and powerful concept. I read the article followed the thread until page the page for testing it was not available (French or English) at Community Forge. 

  6. Andrew Carpenter​, yeah, I thought it was well written too.

    As I’m starting to think about doing some short-term economics sci-fi stories about businesses in the future, one of the things that’s increasingly clear to me is that capital for the formation of these businesses is absolutely key. And it has to be capital that is interested in more than just some quick returns. That’s where I think that community credit like this could play a very valuable role. It doesn’t just enable the startup, it provides incentives for community members to work with the business, and helps distribute the financial upsides so that they’re not ducked out of the community and concentrated onto the hands of the few.

  7. Yeah, Zara Altair​, some of those sites served fairly small time.

  8. Gideon Rosenblatt​ financing is key to business startup, expansion, entering new markets, and ongoing operating costs. There’s also the market research angle. With community financing, the commons becomes like a startup accelerator business becomes subtly like a product. Business models cutomized rapidly (as platforms akin to Uber), to dynamically target people’s demands as they fluctuate through time and digital planning. (Voting with digital tools)

  9. Gideon Rosenblatt What actions do you see necessary to increase the viability?

  10. Absolutely, Andrew Carpenter. Imagine a community credit organization of some sort financing cars for a driver-owned version of Uber. We’re talking about a commons accelerator. 

  11. Zara Altair, I’m not sure, to be honest. This is kind of a new area for me, but it’s one that I’m starting to dig into…

  12. Gideon Rosenblatt Increasing awareness, such as this post, is one way to start. Investigating the current possibilities is another. The next step, in my view, is broadening the base to increase viability. Thank you so much for this post.

  13. Thanks Zara Altair. Agreed. Info is a good place to start. I feel like contacting the author of this piece, actually. She seems quite bright. 

  14. Gideon Rosenblatt She does. I will be following any new information you post on this subject.

  15. Here’s a really interesting report by David Korten and the New Economy Working Group: 

    http://www.yesmagazine.org/blogs/david-korten/liberate-america

    The report, which is linked to in this article, is a very in-depth look at what’s happened here in the U.S. and has some very insightful recommendations for reforming our financial sector. 

  16. Gideon Rosenblatt Thank you.

  17. Gideon Rosenblatt The report does have some insightful recommendations. Something like this, a little less emotionally loaded, would be powerful.

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