Today I Am going to focus on the Alternative Currency System (ACS) from Community Forge. Community Forge distributes free, open-source software for currencies and provides hosted websites.
They have helped 400 communities implement currencies, enabling them to:
- unlock under-used local resources
- increase social cohesion & volunteerism
- increase economic resilience
- promote local self-reliance
- & lowers environmental impact
The following story focuses on the ACS created and implemented in the informal settlement of Bangladesh, Kenya. It involves a small number of businesses organized into the Bangladesh Business Network (BBN). They created theBangla-Pesa, a unit of credit within this mutual-credit-clearing system. As such, it helps to stabilize the community in the face of monetary volatility by allowing Network members to trade with each other without using the national currency.
The BBN launched the Bangla-Pesa currency in May 2013. Credits are issued in the form of paper-vouchers that can pass from hand to hand as payment for goods and services. Toward the end of 2013, we hope to add the capability of using mobile phone technology as a means of transferring Bangla-Pesa.
The Bangla-Pesa gives them a way to save their national currency and use the local currency for daily spending. Businesses include services such as: clothes washing, tailoring, cobblering, manual laborer, house builders, salons, mechanical and electronic repairs, and porting. Other businesses include: Water, transportation, hardware, soap, general shops, food services, raw food (Including fish, meat, eggs, vegetables, fruits and grains), farming, charcoal, lamp oil, education (Primary and nursery school), clothes, medical clinics, drinks (including alcohol, soda, and fruit drinks).
Just think about implementing something similar to this for the One People that want to get involved in creating the One People Business Network and an alternate currency. We have the tools (listed below) required in which we can deposit our value, create a network,and recruit other business people into the One People Alternate Currency System.
Direct download versions of the documents that Bob Wright created:
- Bob Wright’s Certificate of Value Word version Click here
- Bob Wright’s Certificate of Value pdf version Click here
- Bob Wright’s Declaration of Being Word version Click here
- Bob Wright’s Declaration of Being pdf version Click here
- Bob Wright’s Intent to Deposit Word version Click here
- Bob Wright’s Intent to Deposit pdf version Click here
- Bob Wright’s Request for Documentation of Funding Word version Click here
- Bob Wright’s Request for Documentation of Funding pdf version Click here
- Secured Order of Reconciliation pdf version Click here
Documents posted from: http://i-uv.com/bob-wright-the-docs-bob-created-to-access-a-small-portion-of-his-value/
We can DO this people. Contact me ([email protected]) if you desire to help create this endeavor and to get involved into the One People Eternal Essence Network (OPEEN). Then we can start living abundantly through the exchange of our Eternal Essence Value!
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Bangla-Pesa
Bangla-Pesa is a program to strengthen and stabilize the economy of the informal settlement of Bangladesh, Kenya by organizing its more than 200 small scale businesses into a Bangladesh Business Network (BBN) through which its members can utilize a complementary currency to mediate trades. The Bangla-Pesa is a unit of credit within this mutual-credit-clearing (or multilateral reciprocal exchange) system which provides a means of payment that is complementary to official money.
As such, it helps to stabilize the community in the face of monetary volatility by allowing Network members to trade with each other without using the national currency. The local availability of credit also provides the community with a stimulus to local business incubation and social service projects. Koru has worked with the BBN on planning and baseline and survey data-gathering since November 2012. The BBNlaunched the Bangla-Pesa currency in May 2013. Credits are issued in the form of paper-vouchers that can pass from hand to hand as payment for goods and services. Toward the end of 2013, we hope to add the capability of using mobile phone technology as a means of transferring Bangla-Pesa.
The Bangla-Pesa flows from businesses, to membership fees, to community services and back to businesses.
Credit Clearing System (Multilateral Reciprocal Exchange)
Once accepted into the Network through a process of finding four guarantors, each business is allocated Bangla-Pesa. The businesses also pay a membership fee to the network in Bangla-Pesa, which is used for administration, marketing and community programs. By using the Bangla-Pesa to buy goods and services at fellow BBN member businesses, they also accept to sell their own goods and services for Bangla-Pesa. The amount of Bangla-Pesa in circulation is determined by the membership and targeted using baseline data, at an amount usable for daily transactions.
Once accepted into the Network through a process of finding four guarantors, each business is allocated Bangla-Pesa. The businesses also pay a membership fee to the network in Bangla-Pesa, which is used for administration, marketing and community programs. By using the Bangla-Pesa to buy goods and services at fellow BBN member businesses, they also accept to sell their own goods and services for Bangla-Pesa. The amount of Bangla-Pesa in circulation is determined by the membership and targeted using baseline data, at an amount usable for daily transactions.
This currency forms a buffer against fluctuations in the money supply due to remittances, weather, holidays, sending children to school, political turmoil and so on. The fundamental driver of this economic stability and increase in trade is due to the BBN member’s ability to trade their excess capacity. For instance a bicycle operator may have the capacity for 20 customers, but in general only has 10. Now he can give rides to those businesses in exchange for goods and services they have in excess, such as a woman who has extra tomatoes to sell. This increases the overall efficiency of the market and helps the community weather poor economic periods.
Membership
The BBN membership consists of 75% women businesses owners who regularly fall below the international poverty line. Generally they work several jobs and find no way to save money from month to month. They are also often sending any spare money back to extended family living in rural areas. The Bangla-Pesa gives them a way to save their national currency and use the local currency for daily spending. Businesses include services such as: clothes washing, tailoring, cobblering, manual laborer, house builders, salons, mechanical and electronic repairs, and porting. Other businesses include: Water, transportation, hardware, soap, general shops, food services, raw food (Including fish, meat, eggs, vegetables, fruits and grains), farming, charcoal, lamp oil, education (Primary and nursery school), clothes, medical clinics, drinks (including alcohol, soda and fruit drinks).
The BBN membership consists of 75% women businesses owners who regularly fall below the international poverty line. Generally they work several jobs and find no way to save money from month to month. They are also often sending any spare money back to extended family living in rural areas. The Bangla-Pesa gives them a way to save their national currency and use the local currency for daily spending. Businesses include services such as: clothes washing, tailoring, cobblering, manual laborer, house builders, salons, mechanical and electronic repairs, and porting. Other businesses include: Water, transportation, hardware, soap, general shops, food services, raw food (Including fish, meat, eggs, vegetables, fruits and grains), farming, charcoal, lamp oil, education (Primary and nursery school), clothes, medical clinics, drinks (including alcohol, soda and fruit drinks).
The BBN Committee holding network diagram.
Network Meeting with over 165 businesses owners
Bangla Business Network (BBN) Organization
The BBN has a board of directors consisting of representatives from: youths, elders, women business owners, men business owners and community health workers. These directors have the task of accounting, administration, registration, Networking, care taking and organizing community service work. In order to join the BBN local business must have 4 other local businesses as guarantors in case of default. Thereby if a BBN member spends their credits at other stores and then refuses to accept a minimal level of Banglas in their own store, the guarantors must resolve the issue, accept those credits at their own businesses or loose membership. This occurrence is minimized with good networking and communication among members. Koru-Kenya holds a non-voting advisory role on the board.
The BBN has a board of directors consisting of representatives from: youths, elders, women business owners, men business owners and community health workers. These directors have the task of accounting, administration, registration, Networking, care taking and organizing community service work. In order to join the BBN local business must have 4 other local businesses as guarantors in case of default. Thereby if a BBN member spends their credits at other stores and then refuses to accept a minimal level of Banglas in their own store, the guarantors must resolve the issue, accept those credits at their own businesses or loose membership. This occurrence is minimized with good networking and communication among members. Koru-Kenya holds a non-voting advisory role on the board.
Bangla on Mobile Phones
By using mobile phones, BBN members hope to trade their Banglas digitally without the need for printed bills.
By using mobile phones, BBN members hope to trade their Banglas digitally without the need for printed bills.
Bangla Art
Bangla Vouchers are in four denominations. See their backs and fronts here.
Our Artist Karol Opondo.
The Bangla artwork was done by Karol Opondo. Born in 1979, Karol Opondo is the Head of Art Department at The Mombasa Academy, Kenya. Karol finds that the communities around her are her greatest inspiration. The security printing and graphic design for Bangla-Pesa was done by the Punchlines Security team in Nairobi under the artistic direction of Saul Nassilah.
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