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The New Economy – still mostly a concept, lots of people have a different vision for the kind of economic environment we are all moving into.  What was the vision for the Impact Economy Whistler, event held in October attended by CCEC Board Members, Tammy Lee Meyer and Marty Frost?  If there was a common word that could be applied to all the visions that were present, it would be “open” as in “open-source” technology - hardware and software; and “open value networks” as a way of organizing groups of people who choose to work together. 

The people who showed up all saw themselves of members of an emerging economy.  They were computer software and hardware engineers, community developers, co-op advocates.  And if there was a common word that could be applied to all the vision that was present, it would be “open”.  The computer people were all working on developing new generations of computer operating systems, applications, communication protocols and hardware, all open source.  Open Source is a concept applied to developments (computer hardware and software primarily at this point) that have no ownership applied to them.  A piece of open source software, for example, carries no license, no proprietary rights attached to it.  Anyone has a right to download a piece of open source software, modify it and put it back up on line for open sharing.  The same principles are being applied to hardware as well. 

Some of those present were also employing “open value networks” as their form of organization.  No incorporation, no legal “rights of a natural person” applied.  Simply a group of people who choose to work together, share projects, share any resulting revenue that may be produced, well, openly.  A couple of examples that people may wish to check out on line would be Sensorica, in Montreal (www.sensorica.co), or 99% Media, also in Montreal ( www.99media.org). Neither has a legal structure, they are networks of workers who get together on a project-by-project basis, and share facilities, tools and revenue. 

The other significant “group” of people were the community development folks, most of whom are involved with local, non-State currencies.  Among these was BC’s own Michael Linton, founder of the LETS system that some of us will remember from its 40 year or so history in and around the Comox Valley on Vancouver Island.  The Mutual Aid Network was represented as well, and profiled for us their highly successful time-banking system they have developed under a co-op umbrella in Madison Wisconsin.  Time-banking is in some ways another form of local currency, certainly a local trading system. (www.mutualaidnetwork.org)

In this video podcast, Michel Bauwens chats with Art Brock, Michael Linton, and Matthew Slater about money and new currencies: accounting systems, "open money", current-sees, exchange in the post-monetary economy, trust, and value exchanges.

Is this to be an aspect of the “New Economy”?  An escape from individual ownership – or any form of ownership at all – into an economic paradigm based on sharing?  If you have a need it will be there for you, if you have something to offer you have ways to offer it, and all free of state-based currency transactions?  To people like me, who has spent most of my life assisting people to work in more sharing – but certainly “legally” structured – forms of economic relationships, it raises all sorts of questions:  how scalable can these organizations be?  How are disputes – those that are now “settled” through the market – be settled?  how would “value” of goods and services be determined?  These are questions that need to be answered as we move forward.  For my part I am thankful that there are people out there who have the passion and nerve to just get out there and do it.  Test these models in the crucible of the capitalist economy in which we live, find the challenges and develop solutions. 

Marty Frost

For more information: 

http://www.impacteconomy.io  and other podcasts  https://soundcloud.com/impact-economy

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Is bitcoin the future of money, privacy and payments, the end of greedy banks and the fall of government fiat currencies; or is it an elaborate scam, the currency of cyber villains, and a threat to sovereign states?  

Drew of BitNational, a CCEC Member, says: “We all cherish money deeply, but most don’t truly understand what it is or from where its value is derived. Researching bitcoin and cryptocurrencies enables you to understand a lot more about how fractional reserve banking and quantitative easing only benefit the extremely wealthy, while constantly devaluing every dollar you earn. Bitcoin is honest and transparent at the lowest level.”   

Could bitcoin prevent a future global currency crisis like the ongoing Greek example? Earlier this year, there was a freeze imposed on fund transfers out of Greece and a daily limit placed on how many Euros that Greeks could withdraw from their own bank accounts. If all Greeks used bitcoin, their funds could not be frozen or rationed. We know that Fort Knox doesn’t have enough gold to support the paper currency in circulation, and lots of people are unaware that gold has not been tied to fiat currency since 1971. Is bitcoin, a currency created by the people for the people, the answer?

Bitcoin is not an easy concept to grasp, but at the moment, it’s the only currency without borders. There are many people who are now buying bitcoin in an attempt to learn more about digital currencies that are, for the most part, completely misunderstood.  According to Drew, of the DDP & BitNational, “People are infatuated with saving money, but they don’t really know what it is. The ‘money’ in bitcoin is stored fully in your control, on your cellular phone, in paper (cold storage) wallets, and now many hardware wallets are also coming into the market. There are however still risks in this fledgling industry, if you don’t know what you are doing. For example, the ‘address’ you use to transfer bitcoin must be correct or your funds could be sent to a different person and not returned. Bitcoin is a push system, rather than a pull system like credit cards and traditional banking. You are in full control of your money, if you want to be.” 

So, how are businesses using bitcoins? CCEC Member, the Decentralized Dance Party (link to blog) is selling “Peace Bonds”, exclusively using decentralized currencies, such as bitcoin, to complete The Global Party Pandemic AKA The Grand Unification Tour. The DDP’s recent European Tour was 100% financed by crowdfunding (see blog article on CrowdGIFT) using bitcoin.

So, how does it work? It is said that the blockchain technology behind Bitcoin could be a game-changer in the world of finance. It is virtually unhackable. The blockchain is the systematic ledger that keeps track of all bitcoin transactions. It can never be erased and is constantly growing as more transactions are added in chronological order. Because blockchain technology appears to remove the need for the middlemen of finance — banks, governments, notaries and even paper currency — it is thought that its system of decentralized consensus could be applied elsewhere. "Think about digital signatures, digital contracts, digital keys [to physical locks, or to online lockers], digital ownership of physical assets such as cars and houses, digital stocks and bonds and digital money," noted venture capitalist and bitcoin booster Marc Andreessen in a 2014 op-ed for The New York Times. He continues, "All these are exchanged through a distributed network of trust that does not require or rely upon a central intermediary, like a bank or broker."

Drew wants CCEC Members and their peers to be open to change. He says, “We all know that something is wrong with the current system and that we need to do something. Bitcoin is honest money… We all need to take more control of our finances and put in the effort to understand money. People don’t realize the power that they hold, and they need to understand that they can truly vote with their money.”

BitNational currently has 13 Bitcoin ATMs in Canada, 6 in Waves Coffee Houses in Vancouver and due to consistent transaction growth, will be expanding aggressively in the coming months.

For more information visit bitnational.com, bitcoin.org OR coinmarketcap.org

CCEC will be featuring more articles on decentralized currencies and bitcoin. Be sure to leave your comments on our Blog.

Contact Drew: drew@bitnational.com

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A CCEC member goes beyond the Forbes top 15 Fintech startups to watch for this year.  CrowdGIFT is a values based crowdfunding platform with a philosophy of unconditional generosity.  Their clients tend to be groups with a mandate for social responsibility or political justice.    So, who uses CrowdGIFT?  Turns out our CCEC members do! 

Ben West (TankerFreeBC, the Great Climate Race) worked with CrowdGIFT to sell his book on Fossil Fuel and more recently to fundraise for the Great Climate Race .  Last month we featured The Decentralized Dance Party ,  who also uses this platform.  Why this platform and not the others?  And why enter a market that seeds to be crowded?

Scott Nelson, a Director for CrowdGIFT says, “We are living in interesting times as we are in a world where there is dissatisfaction with the current crowdfunding platforms and a general dissatisfaction with our mainstream banks.”  The better known crowdfunding models are exclusive, use Paypal or other ‘invasion oriented’ payment methods, and the campaigner is penalized with higher service fees or non-payment if you don’t reach your target.

A key differentiator with CrowdGIFT is their use of digital currencies.  Scott says, “People have the right to economic privacy.”  As our foundation is unconditional generosity this includes anonymity and privacy for the gifter.  He believes in digital currencies for two main reasons:  they operate on the principles of decentralization, where no one is a controlling agency as is the case with our current paper money; and privacy.  Read more about digital currencies in the blog (insert link).  Scott has been a strong advocate for digital currencies since 2010 which is aligned in his following of Austrian Economics.  The quote from Julian Assange (Wikileaks) rings true for him,

 “Transparency for the powerful, privacy for the weak.”

Scott sees crowdfunding as an expanding market as more fundraising will go this way.  CrowdGIFT is about showcasing generosity. 

There are five key reasons to choose CrowdGIFT:

1.       We never hold your funds. All contributions flow straight through to you, almost instantly.

2.       You keep all funds you receive, whether you meet your funding goal or not.

3.       Our "offline direct payment" option allows your supporters to give via cash, wire transfer, money order or any other method you can figure out. This offers greater privacy and eliminates PayPal and credit card processing fees.

4.       You can easily accept modern digital currencies including Bitcoin, Dash, Litecoin, as well as Dogecoin.

5.       With crowdgift.ca, you choose how much to gift back for our service: anywhere from 0% to 20%.

So, what’s next for Scott?  While currently he is playing in the field of converging technologies:  web, mobile and alternate currencies, he sees the next wave as machine learning and its’ application to personal growth and development. 

For more information visit https://crowdgift.ca/
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Chef Laura
“Culinary alchemy is my specialty: the art of combining food and mood in a way that bonds people together and elevates a gathering into a celebration.” 
CCEC Member, Chef Laura,  believes that food should reflect the mood. “I really make an effort to think ahead about how each dish should be prepared to really titillate the senses and add meaning to an event. Food gives life, true, but food also influences mood.” 
Memorials, she says, can be just as special as the person was during their life.  Chef Laura creates a nurturing environment for a monumental life event.  Catering for memorials is one of the more rewarding areas of her business as, she says, “It is ceremonial and we don’t have a lot of celebratory events in our lives.”  She recently organized a memorial with over 200 people for a family that did not live in the area.  The family was grateful to Chef Laura as she elevated the celebration of life to a final send-off that was a memorable tribute.
Laura calls her style, ‘upscale (Italian) comfort food’.  As Vancouver has grown into a cosmopolitan city, she feels we have a lot of fusion offerings that reflects our cultural diversity.  The trend for local, fresh food is all good.  Having worked in a high end fishing resort as the Executive Chef, she loves the seafood options we have and is a proud member of the  Vancouver Aquarium’s Ocean Wise Program  and the Green Table Network.


Being a small business owner, wearing many hats can be challenging.  In the past few years, she’s noticed that social media, online reviews and testimonials are driving more of her business.  With this, she needs to have some technical skills to do things on her own and also the knowledge to ask the right questions of her technology partners.
For nearly 2 decades, Chef Laura has been pouring her passion for fashion, entertainment and the culinary arts into her life and career.  She’s worked as a chef in restaurants, on movie sets, and at high-end resorts; & toured with bands like Duran Duran and Red Hot Chili Peppers.  She says, “I’ve always been inspired by the impact food has on living, on loving, and on life.  I get really excited about turning simple events into celebratory experiences. There's never a place that isn't perfect for a sensory celebration that people will remember for years to come.

“Food is the bonding element of people ... I am simply the alchemist.”

http://cheflaura.ca/about/    (604) 916-5253

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The Ministry of Finance is now reviewing credit union legislation, a process that will proceed over the next year.  Every ten years there is a review and consequently an opportunity to think critically about how financial services are regulated.  In BC, the two principal statutes are the Financial Institutions Act and the Credit Union Incorporation Act.

The last decade has seen some big changes in technology and also in the way international banks are regulated. Technology has changed the way credit unions do business (new service channels online, and mobile), process transactions (paperless payments), and communicate generally.  In addition, technology has introduced a host of new non-traditional service providers; virtual banks, online lenders, private payment services, digital currencies, and more. The failure of some large banks has prompted scrutiny of large scale financial engineering arrangements and of the role of regulators.

CCEC has made a submission to the Ministry in September that attempts to ensure the potential for communities to continue to organize and provide themselves with financial services; using the co-operative model. CCEC is vocal in asserting that the credit union model, at the local level, is to be facilitated and not burdened with regulation. CCEC substantially endorses a consistent legal framework for all credit unions with transparency and accountability among the government authorities.    

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