Community Currency sets out on the goal of making the world more sustainable through the monetary and economic system. Community currency is shows to be a grassroot innovation shows to be efficient in nature because it boosts sustainable development because it recognizes that natural resources are being depleted on an increasingly large scale by the economic system, while also fostering the well- being of society and stabilizing local run markets. By doing so, community currency seeks the engagement of local populations by utilizing a system that brings economic stability in which reinvents the way money flows in that community. The functionality of community currency detracts from the conventional monetary system in that physical money is not always readily available and puts individuals in debt due.
The basic vision of sustainable development indicates that the decision we make should bear in mind the interconnection of the economic, social and environmental spheres. With the aim to realize these objectives, new economics organizations and academics attempt to create new institutions or parallel infrastructures that comprise more sustainable systems of production and consumption.
The utilization of a community currency system exists in many forms and all over the world. Community currency can come in various forms such as service credits, mutual exchange, local currencies, and even a barter market. This video shows a visual conceptualization of the flow of a community currency and one of the many ways in fostering sustainable development through economic groundwork.
Group 7 –
Mayra Rodriguez (Mayrod23)
Sean Hardin (shoryukenpizza)
Keaton Fisher (keatonfisher)
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