Crypto currencies have been around since 2009, operating in little know circles around the Internet. That is not what I am interested in on this post, in my research i have stumbled across the concept of complementary currencies that have been used in various places around the world. These might not be crypto currencies but they offer a window into the future of crypto currencies and their application and adoption on a practical level
https://en.wikipedia.org/wiki/Complementary_currency
"Complementary currencies are often designed intentionally to address specific issues, for example to increase financial stability"
This gives some clarity on one use case that has been tested with complementary currencies, with crypto we haven't reached this yet judging by the huge variations in price, the main question is what will stabilize the price and how can it be achieve...
"The 2006 Annual Report of the Worldwide Database of Complementary Currency Systems presented a survey of 150 complementary currency systems in which 94 respondents said that "all reasons" were selected, among cooperation, micro/small/medium enterprise development, activating the local market, reducing the need for national currency, and community development."
This is beginning to sound like the many articles that I have read on the use case of crypto currencies... Well this lead me to this website which i found very interesting
http://complementarycurrency.org/cc-world-map/
I seems like most of these CC are based in France, could this explain why the French have been more open to this idea, is this just a natural progression to opening up local economies to the world
here are some use case senarios
" lifeboat currencies
to increase financial stability.[5]
to reduce carbon emissions, by encouraging localisation of trade and relationships
to encouraging use of under-used resources[2]:2
to recognise the informal economy"
Not to make this post very long, but most of my ignorance has been lifted by this wikipedia post, and I now see the potential of crypto going into the future. They are still some unanswered questions though, especially the responses of most big players to a concept that clearly has been around for some time. One thing is for sure, if all of these CC were to list on exchanges they will be able to attract a lot of investment, they will have a stable hodler base which is always good especially when the currency is not doing as well, and they might open up alternative international trade routes for their locally developed products, it probably will feel like globalisation all over again
Hi, great post, worth a follow. Looking forward to some more of your stuff.
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