One of the priority objectives of FairCoop is to build a new global economic system based on cooperation, ethics, solidarity and justice in our economic relations.
We explain in detail below, first here’s some news on how Faircoin is already being used:
Extending the seeds of FairCoop through Europe | BERLIN, OPORTO, LISBON, MADRID…
After Barcelona and London last month FairCoop has also been presented in Berlin, Lisbon, Porto and Madrid.
The first date of the month was in the German capital on April 8 in Agora Collective (http://agoracollective.org) a co-working space that facilitates creative ways to exchange, develop and innovate with a social background. There, individual attendees and members of different groups were very interested in the project for unifying collaborative initiatives in economy and technological development, with Faircoin as crypto-currency spearhead. The result of this meeting, was the start of creating a local node in Berlin.
The following presentations were in Portugal: the first in Lisbon on April 18 in RDA69 (https://rda69.wordpress.com/ ) and the second in Porto on April 25 in SEE. Lisbon The presentation was attended, among others by the Collective 1,000,101 and ReCo – Rede Cooperation – Aldeia das Amoreiras. Attendees at this presentation were excited about the principles and values promoted by FairCoop and therfe was an interesting discussion on technological issues concerning both crypto currencies and Faircoin as commons issues plus other tools that are being developed and will soon be available for use. A result of this presentation is the node that is being built in the Portuguese capital.
Continuing in Portugal, a week after the meeting took place in Oporto, a city that already has an active node. There was much interest among attendees in common tools being developed in FairCoop and how to introduce them on a global scale. Faircoin again generated a rich debate both for its technological innovation and its extensive and diverse possibilities.
Our next presentation was in Madrid in the MediaLab Prado (medialab-prado.es) a national laboratory for production, research and dissemination of cultural projects exploring new forms of experimentation and collaborative learning with emerging digital networks. The event – broadcast by streaming through spanishrevolution.tv– was well attended and FairCoop integration projects and the social solidarity currency economy generated great interest . The next day stakeholders were met up again in the Tabacalera space to coordinate and start to implement the Madrid node.
We’re building a series of coins and resources that play complementary roles, instead of trying to get a single currency to fit all needs at once. To do this, we are focusing on the following :
- Faircoin for the value storage role, starting now and with the long term objective of using it as a price reference.
- Faircredit, a worldwide mutual credit system as a means of exchange of goods and services, supported by Faircoin.
And the following resources:
- Fairfunds: Faircoin funds for donations to various types of projects. The Global South Fund will be used for local collective empowerment projects at various levels, while the Commons Fund and the Technology Infrastructure Fund will fund global projects, which may also include globally coordinated networks of local projects.
- Fairsavings as a source of Faircoin savings for those members who aren’t security experts.
- Fairmarket, FairCoop’s virtual market that will allow members to use Faircredit, and anyone to use Faircoin.
- Fairbag as a resource to support backup encrypted savings and wallet management for advanced users who want to keep their savings in case of an emergency.
- Coopfunding as a permanent platform to raise donations in any Faircoin-convertible currency, which feed the Fairfunds.
These, together with other projects presently in discussion which will be announced and launched in the near future, will serve to build the fundamentals of the FairCoop economic system. This system is meant to be fractal, i.e., from the experience in the root platform it can be moved and replicated to different regional and local scales around the globe, with interoperability at different levels for the entire FairCoop ecosystem. Next, we will explain the plan’s three phases as we envision them.
1st phase: Increase Faircoin price and prioritize savings, in order to increase capital of FairFunds
The key concept for understanding the project’s potential to generate economic resources is the market cap, or market capitalization, which equals the amount of existing coins times the value of one unit. Some of the activists promoting this project bought large quantities of Faircoin at a very reduced price with the intention of redistributing to FairFunds projects and revalue by generating real value in a cooperative way through FairCoop. As explained on the Funds page, a primary goal of this phase is for Global South collectives and important pro-commons projects to receive Faircoin capital which could be useful to their development, together with the free knowledge resources and other types of support they will find in the social network (link). That is, to generate exactly the opposite dynamic as with that of the global financial power, which devalues people’s goods in order to keep their resources. Initiatives to prioritize at this stage will be: – FairSaving. FairCoop’s multi-signature digital wallet, which forces a minimum saving period of 6 months. – FairCoop wallet. Linked p2p multi-sig wallet. – FairBag. FairCoop wallet service that will allow a trustworthy encrypted backup which can be recovered in an emergency situation. – FairFunds. At the starting phase, it is important to spread the word and get projects to begin joining and feeding the various funds. In this sense we already have Coopfunding (link) for crowdfunding campaigns for FairFunds, exchangeable for Faircoins. Coopfunding will soon have a mixed option: 50% grant + 50% Fairsavings.
In this second phase, when the market cap reaches an amount that makes Faircoin generate commercial interest, and while the growth curve of this market cap becomes more moderate, it will grow in importance, creating economic activity both among FairCoop members and worldwide. Its important to understand that the community’s ability to purchase products and services depends on the total market cap of the currency it holds, and therefore trade expansion depends largely on the success of the cryptocurrency vehicle used as a store of value.
The projects to be prioritized in this phase will be: – FairFunds: This will be the time to start distributing funds in the form of already-available Faircoin capital, to support participation of projects in the coop’s economic activity during the first year, and to be used freely from the second year on. – FairCredit: Global mutual loan system, supported by Faircoin, the currency to promote its use for production and consumption in the FairCoop ecosystem. – FairMarket: Virtual market that will accept Faircoin and FairCredit, allowing FairCoop members to open their shops with the technological support of the entire platform.
– Other projects underway related to generating an autonomous banking system, and facilitating exchange processing tools and the ability to exchange other currencies to Faircoin and FairCredit.
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3rd phase: A fair economic system consolidated worldwide (January 2016 – ……..)
This third phase, of course still further ahead, will be characterized by the consolidation of the ecosystem and its expansion to as many levels as possible. It is important to note that for this to happen, the value of Faircoin should consolidate so it can serve as a reference value, allowing us to stop depending on the prices drawn by fiat currencies.
This may be the most difficult priority to achieve. In order to generate the reference value, it will be necessary to create very broad collaboration dynamics among many different people who can build large cooperative networks to defend the value of Faircoin as a benchmark of our ecosystem.
Regarding other FairCoop objectives, we will try to increasingly multiply the cooperation and solidarity dynamics in every sense, leveraging the shared knowledge and the projects implemented at FairCoop, as well as the collectives that were part of it.
It will be, at the end of the day, about spreading the seeds for cooperation, common good and fair economy so they can expand to as many corners of planet Earth as possible
Extendiendo la semilla de FairCoop por Europa | BERLIN · LISBOA · OPORTO · MADRID