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Date: 12/16/15

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CrowdBucks Related Questions

    
 
Money for People
 
 
What is the main idea behind CrowdBucks ? 
CrowdBucks offers a new kind of digital currency system for managing transactions online, and is comparable in some ways to a typical banking system, with innovative features that encourage purchasing power to circulate more effectively within a given region or community. CrowdBucks is intended as an open, fair and inherently stable, complementary monetary system without the need for interest and continuous economic growth. 

How does the CrowdBucks Trade Network Work ?
CrowdBucks provides an easy to use Internet-based, social-business platform and marketplace that helps connect Buyers & Sellers, and includes a innovative way for anyone to trade with anyone else in the Network without using conventional cash.  The primary currency used to trade in the CrowdBucks network is based on interest-free "Mutual Credit" along with other types of self-issued credit and/or digital currencies, as opposed to being issued by a commercial banking institution at compounding interest.
 
What exactly is a “CrowdBuck” ?
A CrowdBuck is a kind of Voucher that is intended to represent value.  In its simplest form a CrowdBuck is a digital receipt that shows some type of transaction occurred.  The key difference between regular money and CrowdBucks currency, is that Instead of being issued in a top-down fashion by a Bank or a Government, CrowdBucks Trade Dollars and digital currencies are issued in a bottom-up fashion, by the people and businesses that use them to conduct every-day transactions.
 
One important advantage of CrowdBucks currencies is that they are backed by real goods and services provided by our members, whereas regular money and most crypto-currencies are essentially backed by nothing. CrowdBucks are also issued interest-free, which means that they are inherently less expensive to use than regular cash or credit.  
 
How will these new currencies be created ?
CrowdBucks will initially offer two types of trading methods that work in similar ways to conventional checks and cash. Both types of currencies are created by the trading partners when they buy or sell their goods and services.  
 
The amount of currency created will depend on the amount of business being conducted within the system, and policies for controlling the overall monetary supply will be decided using a democratic process with various types of input by members.
 
Will the CrowdBucks trading network be centrally controlled ?
The CrowdBucks trading platform can be used in a wide variety of trading scenarios, and can be effectivley replicated as needed to empower new types of trading networks.  Each CrowdBucks network is able to share trading information with other trading networks, so that the various systems can communicate as required with each other - in order to better serve Members through increased choice, etc.  Each network will offer optimal transparency for Members, and be setup in such a way as to encourage appropriate levels of trust among members based on reputation, historical information, ongoing collaboration and other key factors.
 
 
 
 
 
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