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International expert group on social currency collaborates in the design of the currency model in the B-MINCOME project

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B-Mincome currency experts
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On Tuesday, May 9th, 2017, a working session was held in Barcelona to review the social currency model to be implemented in early 2018 in the framework of the B-MINCOME project as one of the innovative activities planned to promote Social inclusion of people in situations of vulnerability of the Ax Besós (Barcelona).

Novact, partner of the B-MINCOME project, organized the event by inviting renowned experts on social currency to discuss the model: James Stodder (known for his studies on the macroeconomic stability of the Swiss economy in relation to the complementary currency system WIR) , Joey Renert (founder of a social currency system in the Philippines called Wagan focused on promoting the development of the local economy and alleviating poverty), Will Ruddick (founder of the Grassroots Economics Foundation with which he has implemented 5 complementary currency systems in Kenya), Lachezar Dumanov (business development expert and co-founder of the Barter Club Bulgaria business exchange network), Massimo Amato (promoter of the SoNantes currency, which manages the municipality of Nantes -France-, and the Caja de Credit for the social and solidarity economy of Nantes), Ann Pettifor (macroeconomist specializing in finance and sovereign debt), and other currency experts such as Matthew Slate R, Sybille Saint-Girons, Franco Llobera, Lluis Muns, Jordi Griera and Esteve Badia.

In the session it was presented and discussed the model developed by NOVACT. This organization has designed an optimal currency model to implement in Besós, thinking that it is a sustainable and replicable model in other territories. This currency will be complementary, equivalent to the Euro (at parity) and with the support of the administration that will initially channel public spending. The social currency will be implemented through a part of the Minimum Emergency Income (RME) and as a reward for volunteering in community actions.

The different experts applauded the innovative proposal that combines the relationship between management, business and citizenship. It was considered relevant to identify and analyze the characteristics and circuits of the companies and businesses of the territory that can facilitate the implementation of the social currency, highlighting the need to have a good network of businesses and companies to ensure the circulation of currency.

The importance of ensuring the trust of companies and beneficiaries as the basis of social currency was pointed out. In this sense, it was considered the advice for companies and accompaniment to the Beneficiary population (taking into account that they are profiles at risk of social exclusion) to socialize with the currency, as a useful tool for their community life, personal, social and labor empowerment.