Today, I came across an article on Medium that was written 10 years ago in 2014, about community currency, and I couldn’t help but sigh: Over the past decade, blockchain has driven the vigorous development of community currency and has become a unique presence in this field, and there is still no one who can surpass it.

Nowadays, as long as there is no technology more advanced than blockchain in the field of community currency, speculating on currency through blockchain projects will always be the best investment method.

The emergence of Bitcoin is not accidental. It is the inevitable product of the world's exploration of community-based currencies. It is an excellent student that has reached the top in the field of community-based currencies. Therefore, it will continue to exist and will flourish.

Community currencies have a strong theoretical basis and social cognitive foundation - this made me even more convinced after reading an article on Medium from 10 years ago.

The original text is as follows:

(This is a direct translation because it is too long. You can just read it to get a general idea. What I want to say is that various community currencies, including community currencies such as Bitcoin, are definitely an irreversible trend in the world.)

Title: 6 Examples of Community Currencies That Will Change the Way You Think About Money

By Thomas Pichon

When I started talking about alternative currencies, I realized that most people only think about the Bitcoin experiment and underestimate the (revolution) that all other community currencies have created. Actually, the number of alternative currencies in society has grown exponentially since the beginning of the last century: 2 experiments started in 1984, and today there are 5,000 mature systems. Here are some selected excellent examples that I hope will reshape the way you think about what money is and what it does.

1. BERKSHARE in Massachusetts, USA

BerkShare is a currency issued by Berkshire County, Massachusetts, USA. It was launched in the fall of 2006 and may be the most successful experiment in local currency.

Locals can exchange 100 BerkShares for $95 at seven branches of four local banks. Within a network of 400 local participating businesses, alternative currencies can be exchanged for 1 BerkShare for $1 (with a 5% discount reward for every product or service purchased within the network).

The circulation of BerkShares encourages capital to remain in the region, thereby strengthening affinity among the local business community and citizens. Those who choose to use this currency make a conscious commitment to purchase local products and take a personal interest in the health and well-being of the community by laying the foundation for a truly vibrant, thriving economy.

BerkShares are issued by a nonprofit organization that works with participating local banks, local businesses and local nonprofits to strengthen the Berkshire regional economy through local currency initiatives. It envisions a diverse and resilient regional economy that supports and prioritizes responsible production and consumption, and where community members rely on the land and each other to meet basic needs for food, culture, clothing, shelter and energy.

The BerkShare initiative is part of the “transition towns” movement that launched in the UK in 2006 and quickly expanded to the US; the project aims to create stronger, happier communities and seeks to build resilience to peak oil, climate disruption and economic instability.

2. Japan’s “FUREAI KIPPU”

"Fureai Kippu" ("Caring Relationship Ticket" in Japanese) is a time-based cooperative currency created in 1995 with the goal of promoting care and services for the elderly.

These "tickets" are paid to individuals who choose to help the elderly with areas not covered by Japan's national healthcare system, such as helping with food preparation at home or assisting with daily bathing (a Japanese ritual), so that they can stay at home longer and not have to be admitted to a nursing home. Caregivers in turn can use these points to get help from other caregivers when they are sick, or they can choose to transfer their Fureai Kippu points to a parent or relative who needs help.

This complementary currency provides space to create a strong personal care service without increasing taxes or diverting funds from other programs that run in the traditional yen currency. In addition, the elderly prefer the services provided by these caregivers to those paid in yen: the relationship is different and more personal for both parties.

3. BUS TOKEN in Curitiba, Brazil

Garbage used to be a nightmare for the slums of Curitiba. Trucks couldn’t get there because the roads were too narrow and the terrain was rough; the city simply didn’t have the funds to deal with the crisis. However, locals realized that there were two resources that were widely available:

Large metal trash bins are placed on the streets on the edges of slum communities, and those who collect and sort the trash are given tokens to ride the local bus system. People use the tokens to travel to the city center, often in search of work. The bus tokens are soon accepted at local markets in exchange for food.

Just 62 poor communities exchanged 11,000 tons of trash for nearly 1 million bus tokens and 1,200 tons of food. Over three years, more than 100 schools exchanged 200 tons of trash for 1.9 million notebooks. Paper recycling alone is the equivalent of saving 1,200 trees every day! Between 60 and 70 percent of Curitiba’s waste is recycled on-site, a rate that may be the highest in the world. In human terms, the results—restored dignity and hope for a better future—are immeasurable.

Other programs have been developed to finance the restoration of historic buildings, the creation of green areas, and the provision of housing, all financed by a complementary currency system. More than 70% of Curitiban households participate in various programs.

4. TOREKES in Ghent, Belgium

Rabot is an immigrant district in Ghent, Belgium. It was once the poorest neighborhood in the entire region, with most of the population living in low-income apartment buildings, and is one of the most densely populated areas in Europe. Rabot has a high unemployment rate and symptoms of urban decay are common.

The survey was designed to understand what residents want for themselves and their lives. Many locals would like to have a few square yards of land for gardening, growing vegetables and flowers, and the city happened to own abandoned land in the neighborhood, which was divided into plots of 4 square meters each. The plots are rented out for 150 Torek (the local currency created for the project) per year.

To earn Torekes, a range of urban farming improvements and beautification activities can be performed. Participants can earn rewards by placing flower boxes on street-facing windowsills, planting and maintaining sidewalk planters, placing “No Ads” labels on mailboxes to reduce junk mail and helping clean up community sports fields after games.

Agreements have also been reached with local shops to exchange Torek for specific goods the city wants to promote: low-energy lights, green products and fresh seasonal vegetables. Torek can also be exchanged for public transport tickets and seats at cultural events or cinemas.

5. Time Bank in Blaengarw, Wales

Post-industrial Great Depression. 80% of the local population had previously been employed in some way in the mining industry, so when the industry collapsed, unemployment soared and the town was ranked 128th out of 1,800 communities on the Welsh Material Deprivation Index (a statistic based on factors such as anti-social behaviour, crime and unemployment).

A region and local NGOs have worked together to launch a time-banking currency: for every hour of service provided, one hour’s worth of credits can be redeemed. For example, people learn to cook healthy meals at the community food studio and serve them at the café (which prides itself on serving locally grown food from community and personal gardens). Entrance fees to events can be paid with the time currency: a two-hour bingo night or movie costs two time credits, and a three-hour cultural performance costs three time credits.

Now, with over 1,000 participants contributing 60,000 hours of service to the community each year, in addition to the economic benefits, people are interacting in new ways, building stronger connections with each other and the community. As a result, the project is helping to reduce crime rates, anti-social behaviour and general destitution.

6. Rewards in emergency situations

BONUS is an emergency cooperative currency created by the Social Trade Organisation (STRO) whose mission is to help local/regional economies thrive in a sustainable way.

Typically, in a typical disaster relief project, funds flow from donors to local NGOs and ultimately to individuals and businesses. However, goods and services are inevitably purchased from non-local sources, reversing the process of money flowing out of the community. Ultimately, almost all of the money flows out of the area, abandoning the local community.

BONUS is a local voucher that charges a small demurrage fee to facilitate its continued circulation. It is designed to maximize the efficiency and productivity of relief funds by encouraging them to remain in the local economy, which is critical to recovery and reconstruction of disaster areas. In this system, national currency is used to purchase resources that must be purchased from outside suppliers, but everything else is purchased with local currency within the community.

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