Money Talk #1: coinsence.org
Money Talk #1: coinsence.org
Join us for our first Money Talk: in this series of events we will explore alternative money systems, community currencies and sustainable cryptos. In this edition, we will present Karim Chabrak, founder of coinsence.org.
Coinsence is non-profit platform for strengthening the civil society, empowering social and ecological engagement and supporting building a collaborative, inclusive, fair and sustainable economy.
Coinsence is building an open source social collaboration tool which enables communities and projects to create own coins which can be exchanged and distributed for individual value contributions. The coins which can represent community currencies, shares in specific assets or vouchers for dedicated benefits can be used between community members as an mean of exchange and accounting. To keep the focus on the creation of commons, the coins can have a limited store of value functionality using high demurrage and transaction fees. The extracted fees are replaced by visible engagement points in the individual accounts. All the fees can be democratically re-invested into selected community projects.
On top, Coinsence plans to introduce new payment and multiple asset transaction solution which can enable social business to offer discounts, social loyalty points or asset shares to better engage their customer.
Social entrepreneurs, impact investors, foundations and all kind of social organizations can join the network under http://community.coinsence.org to connect with other changemakers, to create own currencies, to leverage synergies or to address specific challenges with different groups. They can propose projects, invest and contribute directly into projects or can use the participative process and open value creation ecosystem for better decision making, co-funding and co-creation.
Ilustration of the asset flow:
More about Karim Chabrak:
Karim is born in Tunisia, after his school he went to germany to study engineering. He has a long experience in telecommunication industry, where he is working as senior expert for network strategy and innovation and as a delegate in 3GPP standardization group. His focus topics beside technology and blockchain are open innovation, co-creation, participative governance and future decentral organizations. In his private time, he is promoting alternative financial and collaboration models enabling more fair, social and sustainable economy. His current project is coinsence.org which is about building an open source collaboration platform which enables communities to address their intrinsic needs and build commons by taking transparent and collective decissions and by creating own coins which can be used as a compensation and as mean of exchange for individual value contributions.