After almost 2 years, where all users of FairCoin, have been accustomed to an exchange rate of 0,05€ (20 Faircoin = 1 €), FairCoop’ assembly has decided to raise that to 0,0667 € (so now 15 Faircoin = 1 €).
This has been a consensus reached through an open, participatory process of discussion. Not the invisible hands of the market, neither the authoritarian control of a central bank. FairCoin has achieved for the first time the milestone of an open assembly process deciding its exchange rate. We are very happy about this achievement, which shows that there is a different way to self-organize the value of a currency.
So, everybody needs to take the new exchange rate into account when making transactions, using FairCoin, from now on. As you may easily understand, this shift will benefit the entire FairCoop ecosystem and reward all of us who support and cooperate towards a fair economic system.
However, most importantly, it greatly enhances our common reserve funds to support subversive and radical projects, as well as to expand the structures of the FairCoop ecosystem itself. Of course, our decision was not based solely on subjective criteria, nor was it rushed since it has been discussed for some time in the context of a more comprehensive strategy we are developing. Continue reading FairCoin is rising! linking integral Coops and Local Currencies