Currency -- the bills and coins you carry in your wallet and in your bank account -- is founded on marketing, on the belief that banks and governments are trustworthy.
What I most enjoyed of this talk is to witness how we are finally realizing that decentralization has gotten to the monetary system. We can create our own and actually they already thousands of currencies out there. Paul mentions several like airmiles, loyalty points, sweat, and how companies are using it as a disruption to our relationship to money.
Answer (1 of 7): What do we mean exactly by currency ? In resource allocation information systems, what is a currency, and what is not ? Do we mean exchangeable tokens ? I am tempted to answer that contextualization is, and can become currency.
Very good insights about how to design a currency (and I would say currencies) for the commons.
Between the endless Euro drama and the Bitcoin brouhaha, currency has been much in the news of late. Most people would probably name the US Dollar as the dominant currency in this day and age.
Five Reasons Content Is the New Currency:
Content has meaning beyond the data it contains. It can be shared and exchanged with others to acquire additional knowledge—much like a traditional currency.Financial transactions used to buy status. Now, content buys earned trust.In the sharing economy, bonds are formed through content and utilitarian exchange.Content creates equity much like stocks and bonds. The more subject matter expertise a brand brings to the table, the more business they can create. This expertise is displayed in the form of content.The definition of the term currency is anything that is used as a medium of exchange. Content acts as that catalyst because it brokers an exchange between people with similar interests and goals.
What have we learned from bitcoins that won't be repeated with Freicoins? Very interesting is that WE become aware that WE can design whatever currency we choose to generate, manage, exchange, wealth together. WE can decentralize the currency!
"Freicoin is a decentralized, distributed electronic currency designed to address the grievances of the 99% movement and correct the excesses of the 1%. Whereas inflationary currency like the U.S. Dollar or Euro are controlled by central bankers under rules that benefit the establishment, Freicoin would be completely decentralized and self-regulating, with fees on stagnant or hoarded money (demurrage) paid in proportion to those community members who contribute work to secure the currency. It is an opt-in alternative currency to be used first by Occupy-supporting businesses and supply chains, then spread to the surrounding community"
I've been collecting URLs related to "Sharing Economy" for nearly ten years at http://delicious.com/hrheingold/sharing_economy -- and now we're seeing it kick into high gear. Technology lowers barriers to collective action (smart mobs) and also lowers barriers to sharing (sharing economy). -- Howard
"As the sharing economy picks up momentum, its reach has become global. In cities and towns around the world, people are creating ways to share everything from baby clothes to boats, hardware to vacation homes. There are also groups emerging that consciously identify with the big-picture sharing movement. These groups focus on education, action and community-building, and advocate for a cultural shift toward widespread sharing.
From neighborhood-level cooperatives to global organizations, these groups work to bring sharing into the mainstream. They see sharing as a new paradigm; a means to a more democratic society, and they understand that sharing is not a new fad but an ancient practice that technology is reinvigorating."
As long as businesses are set up to focus exclusively on maximizing financial income for the few, our economy will be locked into endless growth and widening inequality. But now people across the world are experimenting with new forms of ownership, which Kelly calls generative: aimed at creating the conditions for all of life to thrive for many generations to come. These designs may hold the key to the deep transformation our civilization needs.
by Marjorie Kelly
Read a 30-page excerpt of the book, including the Foreword by David Korten, Prologue, and first chapter.
Closing keynote of the OuiShare Fest by Michel Bauwens, founder of the Foundation for P2P Alternatives, who introduces four prospective scenarios for the col...
Loved this video. My two favorites are that @mbauwens brings a great perspective on issues lwhat good and bad currency design is and uses the case of bitcoins and the last part on how we can create peer to peer businesses for a thriving economy. Good 20 mins watch.
I love the way in which Kevin connects the new economy with the power of the networks. The only rule I would change is #8 where he states 8.No harmony, all flux ...I think I would go for no order, all flux ...or somethin' ...here are the rules for a taste...
1. Embrace Swarm
2. Increase returens
3. Plenitude, no scarcity
4. Follow the Free
5. Feed the web first
6. Let Go at the Top ( I don't really get this one. Can anyone translate?)
From the roots of the word Economy as the 'Rules of the household' into a whole fluent explanation of how we should look at nature's cero waste economy to design or economic system. She says -We never really had a science of economics-
She ends with speaking about a gift currency of how money is issued to make the transaction happens but disappears afterwards. Highest evolution is a gifted currency.
On Oct 29, 2012, the European Central Bank (ECB) released an official (and very nicely prepared) report called “Virtual Currency Schemes.” The 55-page report looks at several facets of what virtual currencies are, how they’re being used, and what they can do.
ºººº I personally don´t use bitcoins but I am very interested on the experiences of people that do and the social fenomena. It is opening path for other currencies. From what I read in the article the ECB is still in a very narrow definition of what currencies are but broad enough to make a good research ººº Do you use bitcoins? Tell me about it.