Launching the bank.. some ideas

Not many people are using these groups yet, but anyway I'll just put some thoughts down. Just some babbling. Hopefully we can get some dialogue going, probably slowly and as the website expands more people flow in.

I'm interested in Demurrage but I want to bring up some other possibilities while we are still in the theoretical stage...

In my mind, in order for this currency to be successful, it needs to occupy a niche at first, or serve a purpose that the present monetary system cannot. Based on the internet, I think that the currency should ideally be situated as a sort of marker for the free exchanges that occur on the internet and in real life (as well as being tied to transactions... but even tied to transactions the currency would be essentially a marker for just preferentially using that business... in other words a gift to the business).

I love the concept of demurrage but I think it has a serious disadvantage in overcoming traditional currencies... it takes a lot of extra incentive to accept a currency that goes bad and forces you to use it. I realize that investing in your community requires some sacrifices be made... but it doesn't seem like it would be enough of a hardcore incentive for most folks to actually use it. Anyway I'd appreciate further enlightenment on the subject.

For example, an artist or blogger puts some work out for free on the internet. A lot of people come back and forth to the site... but very few have the incentive to contribute to the website or buy the art. Now lets say that the website worked more like a street busker; they are out there for free, and x number of people pass by a day... but they inevitably get some change just as a result of the convenience of the transaction and the chance someone may have some change mulitplied by the number of people walking by. That's why on the web this would work best if it was just a click (this is sort of already happening in the form of web banners).

Now, it's an extra order of complexity to make a system where you can convert those clicks into cash (eventually it may be done), but to start you might have a system that plugs the clicks into a gifting system. Perhaps to begin with, these gifts may be pure information goods such as, advertising space on webpages, research, writing for blogs, design work, stock footage, user content, etc. Any kind of value that can be exchanged online. It would just be a system for volunteers to preferentially give to other people who are volunteering... and as the ecosystem develops create something where you eventually may get paid. The idea is that it only provides a marker for the energy circulation that is already occuring.

There are a lot of networks of pro-amateurs, who are not quite pro but essentially hobbyists (its not a dirty word). Anyway, its highly beneficial for these networks to use internal currencies (they do in a sense already), because everyone in the system is automatically there to learn from each other and not to compete with one another.

Unfortunately, I'm not the best coder at the moment, although I am pretty good with graphics. I'm more focused on the art right now. I had some education in programming java at UofT but need to brush up on it and take some more web design courses. (Right now I'm working up the money for a better computer and also dealing with immigrating to Canada).

I am in touch with a couple in Vancouver who are very interested in the whole alternative currency thing, but who are more based in reality and putting on events (they have dialup!). That scene is more like art bartering- and they want to be involved in some local currency stuff.

Cheers,

Meade