Community Currency: Here Is What You Need to know

What is exactly community currency?

The community currency allows the locals to generate assets in their local economy by meeting their needs with their underutilized services and local resources like education, childcare, health care, infrastructure, and more. It goes further for the locally produced wealth to benefit the local people than the outsiders.

The community currency was created to counterfeit globalization and give importance to regional unity and community development. With that being said, Community currency can bring a lot of advantages including social, economic and environmental ones.

Social-wise; the reason I started with the social aspect is that the community currency is all about uniting and bringing people together for a common cause. This common cause will help build a strong network and a trustworthy environment. Not only that, but it will also serve as a rewarding model by which members of the society will be rewarded and recognized for their beneficial contributions to their communities.

Economic-wise, community currency can support local businesses by increasing liquidity. Consequently, this can offer a new way to boost the economy and seek macroeconomic stabilization at the same time. Not to forget, the main use of the community currency is to provide the unemployed individuals the chance to join and contribute to the formal economy and its growth. This will help create a self-reliance system where communities shift their focus on local trade and production. Let’s take Coinsence coins as an example to best showcase these advantages. When we talk about Coinsence.org initiative, we talk about the conscience digital community currency -Coinsence Coin- which has the same core values. The coinsence coins are used to generate more local transactions in the different social-economic spectrum, and it will also be used to reward and recognize community members of their contributions made to society. Moreover, the community will be able to invest in projects of different interests, like the recently conducted social project “Enfant Créateur”, and local small-medium businesses to ensure transparent and sustainable economic liquidity.

Now next to social and economic benefits, there exists also environmental advantages How? Projects based on the community currency usually aim to generate an alternative economy that leads to different consumption patterns like recycling for example. Consequently, more projects that support and raise awareness about environmental friendly consumption.

If you take a look at Coinsence.org, you will notice a sheer number of projects that raise environmental awareness and invite people to invest in it. And this is exactly what we look for, sustainable development.

Interested to know more about Coinsence.org initiative, join our platform and take action in our crowdfunding space and our marketplace, invest coins in projects that interest you and exchange your skills/products on a growing marketplace.