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06/10/2016

Complementary Currencies on the Ethereum Blockchain

Note: This currency ‘X’ will be used to only supplement the local fiat currencies and not replace them entirely as it is only to be used to meet basic needs in mainly developing economies.

Directed By : Joshua Ndolo

Here at Amani we believe we have been given a shot at redesigning the internet from that of information to the internet of value. Now we have to redesign the means of value that first took advantage of this technology, money(bitcoin) by redesigning the monetary system through putting complementary(community-based) currencies on a blockchain platform as cryptocurrency to be used a global medium of exchange across communities that are struggling to meet basic needs through the lack of a well-functioning trickle down economy. This will be enabled by a single public ledger, a feature of the blockchain that allows for peer to peer transaction without intermediaries.

This community cryptocurrency will help to stop wealth and energy being drained out of the local community, ensure money circulates locally by going to local businesses and local community regeneration and also protect the community against the destructive instability of global markets just to name a few.

References

Complementary Currencies strengthening the Social and Solidarity Economy

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