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 the Bangla-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…
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