Tuesday, July 17, 2012

Alternative Currency Systems and Open Source Banking

(Thomas Dishaw)  Below is a comprehensive  list of alternative currency systems from around the world. As the economy continues to be propped up by fiat currency and fake data numbers, more and more people are using alternative ways  to buy sell and trade for services. View the complete list here.

A Community Currency is often used as synonym for complementary currencylocal currencyregional currencyalternative currencyauxiliary currencies, and private currencies. The debate is not easy to solve, since the words have different meanings to different people. All are currencies that have different designs and serve different purposes than our conventional money. They depart from the notion that money is essentially a human invention and instrument to influence the relations between citizens and organizations. A solid theoretical framework legitimizes this idea and in the past hundred years a lot of experimentation and experience was picked up with realizing social goals by the implementation of community currencies.

Cyclos is a project of STRO, a leading organisation on monetary innovations. Cyclos offers a complete on-line payment system with additional modules such as e-commerce and communication tools. The Cyclos platform permits institutions such as local banks and MFI`s to offer banking services that can stimulate local trade and development. Cyclos is also used by manyorganizations and communities to provide community currency services. 

With the latest version it is possible to roll out mobile banking services such as SMS banking and apps for smartphones. Cyclos is published under the GPL (open source) license meaning that it can be downloaded for free and used at no cost. Cyclos is currently available in ten languages and new languages are added with each release.