Adventures in mutual credit

Theories of Change / theories of stasis

As part of a sustainable leadership course i've been given at IFLAS, I'm required to thing about my theory of change.

Postcard from the World Social Forum

Dear Community Forge,

Interledger for the credit commons?

Lucas Huber suggests that the Interledger Protocol would be a suitable technology for implementing the credit commons. This post is a space to explore that more fully.
Credit commons was originally conceived as a ledger between the all the ledgers on all the separate platforms of the complementary currency movement, and the actual function of the interledger protocol is the same, to ensure that one transaction in one ledger is equivalent to another transaction in another ledger, thus that money/credit are not created/lost by mismatches in ledgers.

Ripple, reciprocation and the Credit Commons.

For a long time I have marvelled at the elegance of the Ripple protocol, which allows members of a network to extend trust to one another and for payments, or at least virtual payments, to ripple through the resulting mesh along pathways it finds.

Ripple was originally designed as a sort of abstraction of mutual credit. Instead of people forming groups, each account extends a line of trust to several other accounts to form a mesh. Each account is then in its own virtual group.

Conversation with Vrillissia timebank, Athens

I sat down with Athens' newest Timebank, Vrilissia, and Luke Flegg to talk about cooperation in Austerity-riddled Greece.

Request for Information II (published at CES)

This was published at: https://www.community-exchange.org/docs/smalladsrfi.html
This request for information is seeking partners and friends to work on an open directory of ads to support grass roots economies. The requirements are almost exactly the same as my 2011 RFI, but now with the added weight of CES.

MOOC Alumni newsletter

Greetings Alumni of the Money and Society MOOC,

Jem and I decided to keep in touch with you with this new Biannual newsletter. It includes some headlines I found interesting, and other tidbits about what Jem and I are doing.

Our news

The MOOC will continue as long we get new people, and we think the best promoters are the people who have done it. Please have a think about which of your friends, colleagues and social networks should know about the MOOC, and send them to this link.

Resolving the paradox of monetary discourse.

Students of economics are taught that money has three main functions, a unit of account, a store of value and a medium of exchange. On closer examination we find that these three sit uneasily together. For example, a store of value should increase in value over time, while a medium of exchange works best when the value is decreasing. All the while the unit of account should stay the same value!

The scale of credit

My understanding of money came initially through LETS and the beautiful, simple mechanism of mutual credit. Working from the principle of balance, mutual credit accounting begins and ends with no debts and no money. Money is just an imaginary intermediary that keeps account between all the members of society, enabling them to 'split the barter', giving and receiving with different people at different times, but always in balance.

It is tempting to view all money in those terms.

Challenging the Business Barter industry

About four years ago I realised that my work with local exchange systems could be much more impactful if I concentrated on commercial business barter rather than on LETS and time banks.

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