Michel Bauwens: DIY Currencies for DIY Communities

Money, P2P / Panarchy
Michel Bauwens
Michel Bauwens

Trend 7: DIY Currencies For DIY Communities”>DIY Currencies For DIY Communities

The economic downturn of recent years has led to a decline in confidence in the financial markets. The renewed focus on local communities, ‘DIY’ and alternative ways of city-making go hand-in-hand with the rise of the peer-to-peer economy. Increasing numbers of people start to take matters into their own hands. If money fails, why not introduce your own currency?

In one of our trend reports of last year we mentioned the peer-to-peer economy. The global economic situation stimulates us to rethink what we already have and how we can use it in a more profitable way. Thanks to the Web, marketplaces for peer-to-peer services have grown immensely — think of initiatives such as AirBnB, Deskwanted and Zipcar. Peer-to-peer culture has become one of the assets of community regeneration as the majority of offline peer-to-peer activity takes place in local, mostly urban settings. Over the last years, more and more communities have realized that also money can be organized peer-to-peer, which has resulted in the increase of so-called Complementary Currencies, currencies that lie outside the realm of legal tender and are issued into circulation by groups or organizations other than governments or banks.

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See Also:

  1. Trend 1: Spotify The City
  2. Trend 2: Secret Urbanism And New Exclusivity
  3. Trend 3: The Reinvention Of The Post Box
  4. Trend 4: The Factory Moves Back Into Our Houses
  5. Trend 5: Local Urban Culture Goes Global
  6. Trend 6: Online Stores Revitalize Shopping Streets
  7. Trend 7: DIY Currencies For DIY Communities
  8. Trend 8: Urban Farming Becomes Serious Business
  9. Trend 9: Want To Claim Your City? There’s An App For That
  10. Trend 10: The Rise Of Indie Architecture