Category Archives: Developing Alternatives

Living the New Economy. Thomas H. Greco to speak at October conference

Living the New Economy is a major event slated for Oakland, California October 23-26.

LNE Oakland is designed to be different from any event you’ve attended before. Drawing inspiration from hackathons, conferences, networking events, festivals, and jams, the result is a unique event that has components of each. More than a conference, this is a convergence.

The first two days will be provide opportunities for you to “hear about thriving New Economy projects, identify gaps and opportunities, and find out how you can plug into the New Economy on a personal level.” During the second two days the New Economy principles will be explored and “participants will collaborate in teams to develop a business idea, program, art project, or anything that supports the transition to a New Economy.”

I am one of several speakers who will be presenting at the conference. Program and other details can be found at the conference website.

Get tickets NOW to receive substantial early bird discounts available until August 15. Register and get tickets here.

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Phone-to-phone payments already bringing massive changes to Kenya

Try to imagine what your life would be like if you had no bank account, no credit or debit cards, and no cash, and on top of that, you lived in a country where poverty, crime, and corruption were rampant. I’ve never been there, but by many reports Kenya is just such a place. How do people cope?

As in other places, like India and Thailand, that I have visited, it seems that the majority of people in Kenya are micro-entrepreneurs who eke out a living by producing and selling products or services of some sort. And, like everywhere else, having a means for exchanging those goods and services and “paying” each other is crucial to survival.

Ultimately, as private currencies and moneyless exchange mechanism proliferate, we all will have numerous payment options.  The Bangla-Pesa project operating near Mombasa is one such model that is now being replicated in Nairobi and other parts of Kenya. But even technologies that only provide new ways of paying with national currencies are proving to be beneficial in many ways.

Kenya’s Safaricom company has led the world in implementing phone-to-phone payments with the M-pesa. All it takes is a text message from the buyer’s phone to the seller’s phone to make a payment. Almost everyone in Kenya has access to mobile phone service and they may draw cash from their accounts at any of the 45,000 independent agents scattered around the country.

A recent Business Week article documents the ubiquity of this payment mechanism and its positive effects in such diverse areas as security, renewable energy, crowdfunding, and economic development . You can read it here: Ten Days in Kenya With No Cash, Only a Phone.

When mobile phone payment systems include complementary currency options, the beneficial effects will be multiplied manifold. — t.h.g.

Revolutionary aid project set to spread in Kenya

On the heels of the successful Bangla-Pesa community currency project, the NGO, Koru Kenya has been asked by the government to create similar programs in other poor neighborhoods around Nairobi and Mumbasa. Unfortunately, no significant funding is being provided by the government, so private contributions are being solicited through a Crowdfunding campaign at Indiegogo: Fight Poverty in Africa by Redefining Community Development.

This is a revolutionary approach to aid, one that empowers people to sustainably provide for their own needs. I strongly endorse this project and encourage all to make a financial contribution. Even small amounts can make a big difference. –t.h.g.

Qoin launches B2B exchange

Community Currencies in Action (CCIA) has announced the launch of TradeQoin , a business-to-business trade exchange in the Netherlands.

As their website describes it, “TradeQoin is a trading network for SME entrepreneurs to do business with each other and pay with their own digital form of payment: the TradeQoin. Entrepreneurs can use TradeQoin to purchase and sell quality products and services. By selling products and/or services the entrepreneur can earn TradeQoin. These can then be spent on making purchases within the network, which reduces Euro expenditure.”

The video below features members describing the benefits of the exchange.

http://youtu.be/7VuIpFO7zZM

You can read more about it here, http://communitycurrenciesinaction.eu/sme-tradenetwork/

 

Money, debt and the end of the growth imperative

My latest article, Money, debt and the end of the growth imperative, was published today (March 3) in the online journal, Transformation. Read it here. –t.h.g.

Free Community Capital Toolkit

The Business Alliance for Local Living Economies (BALLE) is offering a Community Capital Toolkit that can be downloaded free of charge from the BALLE website.

In case you’re not familiar with BALLE, here is a brief description of the BALLE vision and mission from their website:

Within a generation, we envision a global system of human-scale, interconnected local economies that function in harmony with local ecosystems to meet the basic needs of all people, support just and democratic societies, and foster joyful community life.

At the Business Alliance for Local Living Economies, BALLE [bawl-EE], our work is focused on creating real prosperity by connecting leaders, spreading solutions that work, and driving investment toward local economies.

BALLE equips entrepreneurs with tools and strategies for local success, and we provide the national forum for the most visionary local economy leaders and funders to connect, build their capacity and innovate. …more…

Toolkit includes: The 20-page Guide to Community Capital
Seven FREE past webinar recordings
Access to a community capital library of resources

You can download it here.

Success stories

Every day brings new stories about the successful application of new exchange mechanisms that are helping people to survive and thrive in the face of monetary dysfunctions and misguided government policies that are becoming ever more prevalent.

This report from Kenya is a moving and inspiring account of one aging woman’s efforts to keep her family fed and housed.

Maciana Anyango’s husband died a long time ago, leaving her with 5 children to care for alone. Even though she is 64 now, and most of her children are grown, she still bears the burden for caring for her family. Her oldest son, who might have taken on this responsibility, also died, and her oldest daughter is disabled from a bout of TB. Her surviving son was trained as a driver, but he’s been unable to find work, so he, his wife, and his two children live with Marciana, along with Mariciana’s disabled daughter and youngest daughter (17 years). Marciana didn’t have the money to send her youngest daughter to secondary school. And, although she received some training as a tailor, she is also unemployed.

So, Marciana supports this household from the sale of porridge and a bean and maize soup. The porridge sells for 15ksh ($0.18) and soup for 10ksh ($0.12). She usually makes around 600ksh ($7) a day to feed a family of 7. Technically, this puts her above the international poverty line based on the lower cost of living in Kenya, but, as she leaned her forehead against a pole, looked down at her worn red flip flops and dust covered feet, and told us about her life, we could feel the exhaustion caused by her efforts to keep her family fed and housed, and some sadness at being unable to keep her daughters in school and in good health.

Things are improving for Marciana now. She became a member of Koru’s Bangladesh Business Network in December and started trading the Bangla-Pesa voucher with fellow members. More…

And a world away in the United States, commercial trade exchanges (sometimes called “barter exchanges”) are continuing to proliferate and develop in ways that promise to make moneyless trading mechanisms ever more effective and accessible. Trade Authority is an entity that is promoting the proliferation of member-owned trade exchanges and plans eventually to network these exchanges together to enable members to spend their trade credits over a wider area. View their introductory video here.