Michel Bauwens: Creating Sustainable Currencies with Open Source Software – No Printing, No Banks, No Government Abuses…

Money
Michel Bauwens

Your thoughts: Helping sustainable currencies to scale

For the forthcoming International Social Transformation Conference on energy currencies, Community Forge is preparing a paper on grass roots strategies for sustainable currency implementation.

2012-05-18 Helping-Sustainable-Currencies-to-Scale 1.0

Phi Beta Iota:  Good ideas overly complicated.  The core idea is that software eliminates overhead — no printing of money, full transparency (end to end accountability, e.g. “your” money can be tagged to never fund prisons, wars, or political action campaigns…).  The authors fail to review the Open Money source literature, do not link to the many examples they do provide, and completely miss the vital fact that with software, you have both a Global to Local Range of Needs and Gifts Table, and a Global to Local sparse matrix of mixed forms of currency–labor, reputation, location, time convergence, etcetera.  While critical of gold, the authors do not make the point that you cannot eat gold, and that the ultimate sustainable currency is one that is immediately and without risk exchangable for goods and services that support a sustainable life.  Precious metals do not do that.  Right now the money system is optimized for the concentration of wealth, the allocation of funds to pay for wars, weapons, prisons, and many other things that are not needed, and the blockage of needed capabilities such as honest locally-engaged agriculture, energy, and health.

See Also:

The End of Money and the Future of Civilization

The Lost Science of Money: The Mythology of Money, The Story of Power

Mini-Me: US Dollar Out, Yuan, System D, and Open Money In + Meta-RECAP

Open Source Anonymous Banking….Here Now!

Open Source Governance, Open Source Funding — End of Earmarks, Fraud, Waste, and Abuse