AÑO
2015
CATEGORÍA
Trabajo
OBJETIVOS
Sistema financiero innovador
PAL. CLAVE
poverty reduction, Innovation, trade
PAÍS
United States of America
CRÉDITOS
Elise Guinee Cooper is a designer from Stanford University who believes that extreme poverty is a solvable problem, and who is intent on working towards solutions. She has traveled extensively trying to understand the roots of poverty, and was inspired to create CommonCoin after contemplating how people could be poor in communities that produced massive abundance.
LINK
http://elisegc.wix.com/commoncoin
CommonCoin
Digital currency that empowers those in poverty while maintaining incentives for innovation
Common Coin is a revolutionary new monetary system that rewards the generation of value regardless of who consumes the value. It is a way to end starvation, support education, and empower the most vulnerable in our society while maintaining market incentives for innovation and hard work.
The currency functions around a digital debt ledger. When any transaction is made, the seller's account is credited, and the purchaser's account is diminished. This creates a system whereby vendors are incentivized to cater to the poor as well as the rich, and where poor people can buy what they need to survive, thrive, and contribute. Furthermore, it creates incentives for people within poor communities to work for each other rather than being dependent on external funds.
With proper precautions to prevent fraud and empower alternative debt repayment, Common Coin can end the effects of extreme poverty and make the world more productive for everyone.