A local PayPal to save nearby businesses

Technologies

By CAPosts 19 January, 2021 - 01:04am 63 views

Paula Daniëlse / Getty Images

In 2013, a Bilbao cooperative put its own currency into circulation to “regain control of money”. With this local currency, they intended to strengthen small businesses in the Old Quarter of Bilbao and, in the words of Miguel Ángel González, one of the promoters of the project, to achieve "that the economy could function in a more cooperative, not so competitive way" . But those tangible bills baptized as Ekhi bonds fell short of them: they prevented them from reaching new territories, establishing new forms of exchange and, ultimately, growing more ambitiously. “The quantity ...

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Source: Elpais

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