Daily Archives: June 12, 2012

Cyclos, worth another look??

I Just received a message from one of my advisee groups on the west coast. They are seriously considering Cyclos as the platform for their local exchange system.

Here is what they say:

Cyclos offers a complete Open-Source on-line banking system with additional modules such as e-commerce and communication tools. Check this out at http://project.cyclos.org/

The objective of the project is to develop open source complementary currency software that is easy to use and maintain, flexible, secure, and highly customizable. The Cyclos structure is entirely dynamic.

This means that it is possible to ‘build’ a monetary system from scratch. Organizations that want a standard system can use the default database that comes with basic configurations and can be easily enhanced. Cyclos is used for mutual credit systems like LETS, Barter systems, administration of Micro credits or remittances, Time banks and backed currency systems such as a C3 (consumer and commerce circuit). Cyclos just started to be used as a back-end for mobile banking services in Africa, and various Universities are studying the possibility to use Cyclos as a campus payment system.

It seems that the newest version of Cyclos may have the functionality, ease of use, and customizability that we have been looking for.

I’d be interested to see or hear expert reviews and people’s actual experience with using the Cyclos platform. Please send them as a comment to this post.