Recently, neighborhood relationship is reducing, and many people “don’t even know their neighbors’ names and faces”. Especially, if you live alone in a condominium apartment, this trend becomes prominent. However, if people become less connected with local communities, the number of solitary deaths of the elderly will increase, and the local economy will go down.
Now, there is a way to introduce “Community Currency” for revitalizing regional communities. I will explain the details of Community Currency with this theme in this article.
Outline of Community Currency
Here I explain the brief overview of Community Currency, advantages and disadvantages. Please grasp the rough idea of Community Currency.
What is Community Currency?
Community Currency (Regional Currency) is a currency used in a limited area. For example, suppose you issue AA coin which is available only within A city. AA coin can be used at shops in A city, and you can get AA coin equivalent for 6,000 JPY by paying 5,000 JPY.
Then the tourists who visit A city will buy AA coin with 1,000 JPY benefit. And they will use whole AA coin for shopping since it can be used only within A city. As is shown above, the users of AA coin can get more value than they pay and A city can experience consumption growth.
Advantages and Disadvantages of Community Currency
The largest advantage of Community Currency is revitalization of regional economy just like the case above. The circulation of Community Currency will lead to circulation of regional economy. And if you use Community Currency for regional activities, regional community will be activated. The main theme of this article, “Community Revitalization” is related to this advantage.
On the other hand, the disadvantage of Community Currency is that it is easy to be forged because issuance and management are not as firm as the legal currency. And it is available for limited services within a limited area, which is also a disadvantage.
Community Currency Revitalizes Communities
Well, here I describe how to revitalize communities by Community Currency. This time, I use the case of PEACE COIN, a currency implementing Blockchain technology.
Use Case of PEACE COIN
PEACE COIN is Cryptocurrency which aims at creating a rich society by visualization, monetization, and fluidization of “the values that have not been evaluated in the past”.
If you introduce PEACE COIN as Community Currency, you will issue localized Community Currency adjusted to the region. For example, suppose you issue a currency in Chiba, Japan, name the coin “Chiba Coin (provisional)”, set increase/decrease rate suitable for the region, and you can use it within the region only. If you want to use “Chiba Coin” in Kamakura, for example, exchange Chiba Coin to general PEACE COIN, and buy “Kamakura Coin (provisional)” then you can use it in Kamakura. This is the unique system of PEACE COIN, which is different from existing Community Currencies. It can be used in more places and regions, more coins will circulate in the market, and it will be more convenient for use as a money.
An easy sample of “the values that have not been evaluated in the past” is household affairs. Housekeeping is heavy labor, but the “value” cannot be seen as it is not a paid work. For example, suppose you exchange a part of your salary to PEACE COIN and pay it to your wife in thanks for doing housework every day. It visualizes the value of housework, and PEACE COIN enriches the heart of his wife who receives it. This makes better and stronger family relationship.
Utilize PEACE COIN for Regional Activities
Well, utilizing PEACE COIN for regional activities leads to smooth constitution of regional community. For example, a local government or a local company recruits volunteers for the following activities;
- Volunteer activities for community cleaning
- Assist in the management of the festival sponsored by the local government
- Cooperation for events organized by the local company
Currently, volunteer activities like these are not paid for most of the cases. Management committees for regional festivals are not paid either. Of course, they are willing to do so but not many people can be involved in it.
・Benefit of Introducing PEACE COIN
For example, you pay PEACE COIN in thanks for doing these kinds of activities. The local government cannot pay the legal currency (JPY), as it is tax collected from the residents. In this case, PEACE COIN can change the event hosted by the local government, from a free event to an event paying consideration.
Then local community members who did not show interest in volunteer activities may also actively participate. Local people meet each other and become interested in regional activities. As a result, local community will be strengthened.
Additional Functions of PEACE COIN
From the viewpoint of community formation, the following features of PEACE COIN will be useful:
- Message function can support creating human relationship
- Low risk of fraud and forgery by using Blockchain
- More usage will bring you more PEACE COIN
・Message Function can Support Creating Human Relationship
You can attach a message upon sending PEACE COIN. For example, if someone participated in “Riverside Cleaning” hosted by a local government, you can send a message such as “Thank you for participating in the volunteer activity yesterday! Thanks to you, the riverside became clean and children can play around. Please join us again in the future.”
A message like this can please the receiver, even if it is a fixed message. It will motivate the receiver to gain more PEACE COIN, and also to participate another event in the future. As a result, it will lead to community formation.
・Low Risk of Fraud and Forgery by Using Blockchain
As written above, Community Currency has a risk to be forged. However, PEACE COIN is Cryptocurrency implemented on Blockchain, so fraud and forgery are almost impossible. Therefore, even a local government is able to utilize PEACE COIN safely.
・More Usage will Bring you More PEACE COIN
PEACE COIN has a mechanism that it increases when used (like a pointing system), and it decreases if it’s not used. In other words, PEACE COIN decreases when stored, so the more you use it, the more advantages you will get.
As described above, there are various possibilities in Community Currencies. PEACE COIN introduced this time includes all the benefits gained with Community Currency and resolved the disadvantages of Community Currency. Since PEACE COIN is a currency particularly suitable for Community Revitalization, it will become a standard to introduce this kind of currency as a means of revitalizing local community.