Complementary Currency

From Exponential Entrepreneurship

Problem: Building a business with little money

Design Principles:

• Build trust in the community

• Compensate community administrative work

• Measuring attendance/interest/support of subgroup events

• 1 Karma = 1 hour

Assumptions:

• Any account holder can give Karma to another account holder for any reason, even as a gift certificate

• Every unit of Karma must be categorized so that payments for work can be visualized differently than tips or gift certificates

Policy Recommendations:

• Monthly Meeting Nonmember Fees cannot be paid for in Karma because Nonmembers are not account holders

• Subgroup facilitators should not charge Karma for events. However, attendees can tip (but must categorize as such)

• Membership Fees: New members should not necessarily be granted account holder status. Initially, either they pay cash or provide a service for some time to become oriented to the group. After some time, a new member can be approved as an account holder. At such time, the new account holder cannot pay membership with dollars and must either provide a service or pay membership to Bootstrap Administration with karma.

• From time to time, karma will be transferred from Bootstrap Administration to those who are doing internal administrative work

Notes:

• Tip jars don't work very well with dollars. They might work better with karma.