Tag: digital currency

New article: Digital CCS in Brazil

IJCCR

Mumbuca e-dinheiro and the challenges of requirements, codes and data digital community currency governance

Luiz Arthur S. Faria*, Fernando G. Severo**, Henrique L. Cukierman***, Eduardo H. Diniz****

*Fundação Getúlio Vargas and Universidade Federal do Rio de Janeiro, Brazil, luizart@gmail.com

** Universidade Federal do Rio de Janeiro, Brazil, severo@cos.ufrj.br

*** Universidade Federal do Rio de Janeiro, Brazil, hcukier@cos.ufrj.br

****Fundação Getúlio Vargas, Brazil, eduardo.diniz@fgv.br

Abstract

This paper discusses the governance process of digital complementary currencies (DCCs). Our reflections are based on contributions from fields such as the anthropology of economy and currencies, especially from the perspective of monetary plurality and governance of commons, and also on concepts developed in the field of Science and Technology Studies (STS). The research effort accompanies the material changes of the Mumbuca DCC (Maricá, Rio de Janeiro, Brazil), connected to the Brazilian Network of Community Development Banks (CDBs), which has accumulated more than one hundred experiences since 1998. We use three different approaches to investigate the Mumbuca digital platform: the processes related to the requirements of the digital platforms adopted, the tensions concerning its closed architecture model and finally the currency circulation data – now digital, and relatively traceable. The paper explores the impossibility to dissociate, on the one hand, the ‘social practices’ enunciated by the communities related to the local currency proposals (and connected to the idea of money as a commons) and, on the other, the materialities present in digitalization processes. Finally, calling for a sociotechnical approach, it outlines some of the challenges faced by the CDBs Network, towards treating the DCC as a commons.

Keywords

Digital community currencies; Social currencies; Commons; Governance

Article Faria et al.

To cite this article: Faria, L., Severo, F., Cukierman, H. and Diniz, E. (2020) ‘Mumbuca E-dinheiro and the challenges of a digital community currency governance: requirements, codes and data’ International Journal of Community Currency Research Volume 24 (Summer 2020) 77-88; http://www.ijccr.net; ISSN 1325-9547; DOI http://dx.doi.org/10.15133/j.ijccr.2020.013

Classifying non-bank currency systems using web data

IJCCR

This paper develops a new classification of non-bank currency systems based on a lexical analysis from French-language web data in order to derive an endogenous typology of monetary projects, based on how these currencies are depicted on the internet. The advantage of this method is that it by-passes problematic issues currently found in the literature to uncover a clear classification of non-bank currency systems from exogenous elements. Our textual corpus consists of 320 web pages, corresponding to 1,210 text pages. We first apply a downward hierarchical clustering method to our data, which enables us to endogenously derive five different classes and make distinctions among non-bank currency system and between these and the standard monetary system. Next, we perform a similarity analysis. Our results show that all non-bank currency systems define themselves in relation to the standard monetary system, with the exception of Local Exchange Trading Systems.

Ariane Tichit*, Clément Mathonnat*, Diego Landivar**

* Clermont University, Auvergne University, CNRS, UMR 6587, CERDI, F-63009 Clermont Fd. Email: ariane.tichit@udamail.f; Clement.MATHONNAT@udamail.fr; ** ESC Clermont, 63000 Clermont-Fd. Email: diego.landivar@france-bs.com.

Keywords

non-bank money, text mining, web data, downward hierarchical clustering, similarity analysis

Article Tichit pdf

To cite this article: Tichit, A., Mathonnat, C.,  and Landivar, D. (2016) ‘Classifying non-bank currency systems using web data’ International Journal of Community Currency Research 20 (Summer) 24-40  <www.ijccr.net>  ISSN  1325-9547. http://dx.doi.org/10.15133/j.ijccr.2016.002

The “commodity – money – commodity” Mutual Credit Complementary Currency System. Marxian money to promote community trade and market economy

IJCCR

Samo Kavčič

Šercerjeva ul.26, 4240 Radovljica, Slovenia. E-mail: kavcic917@gmail.com

Abstract

The Mutual Credit Currency System, this most radical form of endogenous money, was evaluated and compared with Marx’s Commodity-Money-Commodity requirement.  A simple simulation of a small community closed loop economy was used to illustrate the functioning of two types of mutual credit currency systems. The first, dubbed MCSG, behaved according to the specifications and recommendations of the mutual credit currency system’s founding fathers, Riegel and Greco. The second, dubbed the Komoko Monetary System, or abbreviated to KMS, was a sub-type of the mutual credit currency system with some additional restrictions and one additional liberty. The main restriction introduced in the KMS was that it almost exclusively supported the exchange of only newly produced goods and services. The liberty introduced is forecast-based credit allocation. It was shown that the MCSG has an inconsistency that could potentially lead to instability. The restrictions applied within the KMS can provide a remedy for this potential flaw, while at the same time rendering the KMS compliant with Marx’s requirement. The monetary control measures applicable in KMS were discussed, which guarantee robustness and stability and make KMS a true complement to the official fractional reserve banking.

Keywords

Mutual credit system  , Commodity – money – commodity, Cash flow forecast, Currency circuit,  Monetary control,  Endogenous money

Article kavcic pdf

To cite this article: International Journal of Community Currency Research 20 (Summer) 41-53. <www.ijccr.net>  ISSN  1325-9547. http://dx.doi.org/10.15133/j.ijccr.2016.003

Vol. 20 (Summer) pp. 24-40

IJCCR

Classifying non-bank currency systems using web data

Ariane Tichit*, Clément Mathonnat*, Diego Landivar**

* Clermont University, Auvergne University, CNRS, UMR 6587, CERDI, F-63009 Clermont Fd. Email: ariane.tichit@udamail.f; Clement.MATHONNAT@udamail.fr; ** ESC Clermont, 63000 Clermont-Fd. Email: diego.landivar@france-bs.com.

Abstract

This paper develops a new classification of non-bank currency systems based on a lexical analysis from French-language web data in order to derive an endogenous typology of monetary projects, based on how these currencies are depicted on the internet. The advantage of this method is that it by-passes problematic issues currently found in the literature to uncover a clear classification of non-bank currency systems from exogenous elements. Our textual corpus consists of 320 web pages, corresponding to 1,210 text pages. We first apply a downward hierarchical clustering method to our data, which enables us to endogenously derive five different classes and make distinctions among non-bank currency system and between these and the standard monetary system. Next, we perform a similarity analysis. Our results show that all non-bank currency systems define themselves in relation to the standard monetary system, with the exception of Local Exchange Trading Systems.

Keywords

non-bank money, text mining, web data, downward hierarchical clustering, similarity analysis

Article Tichit pdf

To cite this article: Tichit, A.; Mathonnat, C.; Landivar, D. (2016) ‘Classifying non-bank currency systems using web data’ International Journal of Community Currency Research 20 (Summer) 24-40 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2016.002

First Micro-Simulation Model of a LEDDA Community Currency-Dollar Economy

IJCCR

Results are presented for a first-in-class microsimulation model of a local-national currency system. The agent-based, stock-flow consistent model uses US Census income data as a starting point to project the evolution of local currency (community currency) and dollar flows within a simplified county-level economy over a period of 28 years. Changes in the distribution of family income are tracked. The community currency system under investigation is the Token Exchange System (TES), a component of the larger Local Economic Direct Democracy Association (LEDDA) framework under development by the Principled Societies Project. The model captures key design features of a TES, and results suggest parameter ranges under which the simulated TES is capable of achieving stated aims. Median and mean take-home family income more than double during the simulation period, income inequality is nearly eliminated, and the un- employment rate drops to a 1 percent structural level. The need for more sophisticated modeling of a TES, and avenues of future research, are discussed.

John Boik

To cite this article: Boik, J. (2014) ‘First Micro-Simulation Model of a LEDDA Community Currency-Dollar Economy’ International Journal of Community Currency Research 18 (A) 11-29 <www.ijccr.net> ISSN 1325-9547 http://dx.doi.org/10.15133/j.ijccr.2014.002

IJCCR 2014 Boik

Appendix

Is A Global Virtual Currency With 
Universal Acceptance Feasible?

IJCCR

As digital goods and services become an integral part of modern day society, the demand for a standardized and ubiquitous form of digital currency increases. And it is not just about digital goods; the adoption of electronic and mobile commerce has not reached its expected level at all parts of the globe as expected. One of the main reasons behind that is the lack of a universal digital as well as virtual currency. Many countries in the world have failed to realize the potential of e-commerce, let alone m-commerce, because of rigid financial regulations and apparent disorientation & gap between monetary stakeholders across borders and continents. Digital currency which is internet-based, non-banks issued and circulated within a certain range of networks has brought a significant impact on the development of e-commerce. The research and analysis of this paper would focus on the feasibility of the operation of a digital currency and its economic implications.

Sowmyan Jegatheesan, Sabbir Ahmed, Austin Chamney and Nour El-kadri

To cite this article: Jegatheesan, S., Ahmed, S., Chamney, A. and El-kadri, N. (2013) ‘Is A Global Virtual Currency With Universal Acceptance Feasible?’ International Journal of Community Currency Research 17 (A) 26-44  <www.ijccr.net>  ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2013.004

IJCCR 2013 Jegatheesan

Bitcoin: The Political ‘Virtual’ Of An Intangible Material Currency

IJCCR

This paper concerns the open source software project Bitcoin, which is often described as virtual cash. The paper investigates what ‘virtual’ signifies when applied to ‘cash’ and in turn what ‘virtual cash’ says about Bitcoin. Bitcoin is the latest cryptographic effort to create digital cash-like tokens, where Bitcoin’s designer Nakamoto argues that users now no longer have to trust a third party, traditionally the bank. Paradoxically, for Bitcoin it is key that nodes in the network agree on the status of the shared block chain database. Trust remains to be established, albeit in a different manner. Power is not destroyed, but transferred from banks to Bitcoin’s protocol. The paper concludes that ‘virtual’ refers to Bitcoin’s model of how cash appears to function in everyday exchange, allowing user privacy. Bitcoin does not model another aspect of cash, its function as a credential referring to debt. Bitcoin discontinues the concept of debt.

Mark Jansen

To cite this article: Jansen, M. (2013) ‘Bitcoin: The Political ‘Virtual’ of an Intangible Material Currency’ International Journal of Community Currency Research 17 (A) 8-18  <www.ijccr.net>  ISSN  1325-9547 http://dx.doi.org/10.15133/j.ijccr.2013.002

IJCCR 2013 Jansen