Ready for the NexChange
The Rogue Valley is a cornucopia of abundance which can support a self-sufficient local economy. As WebSpirit developed, over the last five years, it became clear that this region could benefit from a local form of exchange. The WebSpirit announcement system is currently used to increase prosperity, and a complementary currency exchange system is a natural extension of our on-line community and internet marketplace.
Trading technologies are making it possible to create new forms of complementary currency and track their movement through countless exchanges. On-line user accounts facilitate exchanges between individuals and businesses. A digital accounting system can track the currency acquired by each party to an exchange, and record income for tax purposes. The entire process could be regulated and facilitated through an online, multi-denominational, complementary currency model.
We're calling it OurNexChange.
The Concept
This new trading system will allow community members to make exchanges in locally-valued currency. In an on-line swap meet, publicized partially through the WebSpirit announcement system, members can make trades and sales to acquire complementary currency. Currency units give our community members buying power in our online Commercial Marketplace.
In addition to person-to-person transactions, local businesses can participate by making commercial trades in the Marketplace. The conversion to complementary currency will not be immediate, but will be regulated with low risk to the business sector, as all transactions occur in a combination of currency units and US dollars. Each party to the exchange must have their own OurNexChange account and their own PayPal account to transact in both currencies. A minimum ratio of units to dollars will be used in all transactions, until such time that the community feels ready to rely more heavily on a local economy.
Finally, community-oriented organizations, non-profits, and cooperatives can obtain assistance to continue their good work. OurNexChange will offer organizations a way to mobilize a supportive workforce. Registered organizations are given a large complementary currency credit line with which to thank and reward their supporters. Many community members are willing to "volunteer" their time to such organizations, by offering their services at less than market value. Organizations can then gift their supporters with complementary currency units, thereby increasing loyalty and boosting the economy.
OurNexChange will have many benefits for individuals as well as the community as a whole. Personal trades and offers of neighborly help will greatly increase. The exchange system facilitates giving, because volunteerism and generosity can be compensated easily through unit exchange. Giving and thanking become more common in the community, as favors can be rewarded by a quick on-line unit gift. The system also allows us to take up a collection for people in need, or pool our resources to reward community heroes. Finally, a conversion to complementary currency will encourage the self-sufficiency of our community, decreasing our reliance on outside influences in this complex and volatile age.