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2008-01-28

As a competition to CommunityWikiBank I would like to start an institution for non-quantitative capital. There will be no one exchange standard. For the start there will be just two rules: every transaction will be recorded and everything will be subject of open debate. The main idea is in helping each other in conducting our own private businesses - i.e. things that already have a real value for us (for example projects that we are paid for) - not in doing some common projects that can have some value in the future. I think this is exactly what the metaphor of BarnRising? suggests.

ZbigniewLukasiak

I also like these two rules and have assumed that they will be incorporated into both CommunityWikiBank and CwB (CommunityWikiBusiness?), ever since Lion and Alex suggested the use of the Ledger. “Open Source” accounting software.

As for “…no one exchange standard”, I think that multiple (foreign) exchange standards are essential since even the few current CommunityWiki participants span many countries. One practical example… I’ve been quite fascinated by the incredible changes that have taken place in the relative values of the loan made to Lion in $.us that were “purchased” in $.ca. Foreign Exchange transactions are nothing new, but the swings in these relative values during the 10 months of this loan have been very large! Managing this type of shifting value is one of the significant challenges of faced by each countries central banks in their international dealings.

Just imagine how much more complicated this will get when you can also “store” value in “horseshoe nails”, “chickens” “bread” or “BobDollars”, each of which is also certain to be affected by real market “supply and demand” considerations, as well as the “cost of living” in different countries and the real competition that arises from their different standards of living!

Hmmm…Hans, I definitely agree that supporting AlternativeCurrency could throw in un-needed complexity.

Yet, I also like the challenge that I think Zby is posing, which could let the best methods and currencies rise to the top, if it is managed carefully.

But, I agree with Hans that it would be most equitable if we would at least create a way to fairly track relative values based on different factors on an ongoing basis. This is tough task, but then again leaves room for us to evolve or improve upon existing solutions and conditions.

We need a new exchange rate system, that is based on our ecology, and should be open for debate along with everything else…

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