Community currencies, based on coins (medallions), paper hours, or other chits are accepted by merchants. This keeps the currency within the community.
Enable them to move from physical paper/coin currency to electronic.
Online trading exchange to trade community currency for dollars or metal.
Bank currency, so it can be spent - Mobile app to spend banked currency. Present QR code to merchant, or buy online at website.
Banking paper currency + mobile app + backend infrastructure will require funding. Charge a check-in fee when banking paper currency. Charge a transaction fee for online/mobile app.
To gain members, use MLM. Recruit new user and get a part of their transaction fee. Go several levels deep.
The transaction fee can also be split with a local non-profit, which the user chooses. Optionally send user a yearly donation statement for tax deduction.
For local merchants, have the mobile app / email provide coupons & specials. Merchant ads would have the $$$ sign (like facebook or twitter symbol often seen in print ads.)
Monday, June 04, 2012
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