Sunday, June 20, 2010

Currency of community

I have talked previously about the currency of favours (see here). Recently, the Mosaic Church in Coventry announced the launch of its Grout system - essentially a currency that can be acquired and spent within a community. Grouts are transacted for giving time or something more tangible. This is a true community currency and slightly different to the principle I mentioned which relies on the trading of actions without the need for a transactional, quantifiable currency. Nonetheless, as schemes like these appear and evolve (and they are excellent), I hope to see them move away from the reliance on a currency with guaranteed returns and mature to one that relies on passive confidence that acts of good will be reciprocated as I describe here.

1 comment:

  1. Jct: In 1999, under the UNILETS Time Standard of Money, I paid for 39/40 nights in Europe with a timebank IOU for a night back in Canada worth 5 Hours which I recorded on my public do-it-yourself timebank account: http://johnturmel.com/unilets.com
    I'll take your Grouts if you'll take my Hours.

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