The Hudson Valley Current Goes Beta!
The Current works by means of a mutual credit network. Each member is
given a modest credit limit to start, and transactions are recorded in the
secure online accounting system. For each sale, the seller receives a positive
credit and the buyer a debit. The unit of exchange is the Current, which is
defined as equal in value to a Dollar. Members set their prices, and account
for sales, just as they would for Dollar transactions. Other than the
equivalence of pricing, there is no other connection to the Dollar.
The system is starting in Ulster County, and we plan to expand first to
Dutchess County, and then to the counties to the north and south. The Current
is a local currency by plan, so it will always remain within the basic
geographical area of the Hudson Valley.
The benefits of such a system are many. For members, the network
represents both a new line of operational credit and a new set of marketing
opportunities. The businesses that participate will naturally make new contacts
and new clients through the membership of the network. For now, membership is
limited to business to business transactions, but after the beta test we will
add business to consumer transactions. We are actively working on point of sale
solutions for retail.
For the community, this is a powerful tool to strengthen local
businesses and deepen the connections that make for a vibrant local economy.
We have a few available spots as beta testers, and we especially would
like to find a few Dutchess County businesses that would like to give this a
try.
Some exciting and interesting trades were made in November. Check them
out to see if they give you any ideas about how you can use the Current.
Featured November trades:
• The Mac Works purchased a variety of ceramics from Shoichi Satoh.
• CW Caretaking paid Corn Cow Inc. for a laminated hanging sign.
• Country Wisdom News hired Melissa Hewitt Designs to adjust an
advertisement.
• Rinchen donated Currents to the community account that can be used in
the future to benefit our community in some way.
• The Mac Works was hired for two different Mac consultations.
Visit www.hudsonvalleycurrent.org for more information. We would love to
hear your questions, thoughts and ideas.
Posted by Chris Hewitt
on 5:38 PM.
Filed under
complimentary currency,
Feature,
Local Economy,
sustainability
.
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