Re: The potential of complemetary currencies

Melvin,

thank you for posting Lietaer's videos (which I didn't watch specifically
but I know Lieataers work pretty well and seen other ones),
and the reputation currencies one (which I did watch).

I have studied complementary currencies for a while,
allow me some notes:

- Many complementary currencies work on a local level.
This is of course intended but faces challenges due to the
global interaction we are used to today. Thus many schemes
start very motivated and enthusiastic, but then somehow stall
or linger a marginal existence (this changes currently in times
of economy turmoil).

- The key to currencies is acceptance. Whatever we do, we know
we can always convert dollars to anything. That's the reason for
the success of national fiat currencies, and with it the cartel
of banks which allow convertibility between national currencies and
thus global trade. It's imposed but, coupled with human innate
characteristics, very successful due to it's ease of use.

- New currency adoption starts with us. Are we willing to accept
some currency in exchange for a good or service which we may not
be able to spend anywhere?

I guess one way is to start thinking multi-level. There is no need
for only one currency ( It's funny how the very base of markets
is not based on a free market :). Currencies should be able to compete
with each other and let the users decide).

Some people argue for gift economies, others for gold backed
currencies, etc. I think we don't need to be so exclusive,
and go ahead with whatever we have.

An idea I had some time ago was to have an "open wallet", where
people would show off their currencies (e.g. virtual game currencies,
dollars, local currencies, bitcoins, etc.) and then maybe a protocol
for payments (I guess web-payments could be that?), which allows
exchange participants to negotiate with which currency to settle
(maybe that's exactly what you guys are doing).

Just wanted to drop some thoughts on your posts.

cheers



2012/10/22 Melvin Carvalho <melvincarvalho@gmail.com>

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> On 22 October 2012 21:43, Melvin Carvalho <melvincarvalho@gmail.com>wrote:
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>> http://www.youtube.com/watch?feature=player_embedded&v=5Zoud9tFEmw#
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> Perhaps a better presentation at TED
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> http://www.youtube.com/watch?feature=player_embedded&v=nORI8r3JIyw#
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