We explore ideas of how community currencies can stimulate circular flows via Local Exchange Trading Systems new free digital money paradigm called Open Money, an ecosystem approach to local digital currencies. We will play a physical version of Open Money using the Community Way model.
LETS founder Michael Linton describes Community Way this way:
Community way is a new tool for locally based fund-raising and economic development. Donations in community way dollars (cw$) connect non-profits and businesses in a mutually beneficial support cycle.
Any individual or group can readily initiate this fund-raising program, which is designed to recover all start-up costs. It will work best when many local businesses and organizations participate, but it can also finance a single project or cause.
We will explore if this model could work in Woodstock, Cape Town, to stimulate more local economic activity AND create more jobs for work from local NGO's that supports building a green economy.
OSCEDays Perth, Australia is going to be running a more extensive trial of this system and we may check in with them to see how they did with it during our event.
OSCEDays Capetown will explore this on June 11 morning session