New community currency to be launched in Vancouver this August

The Seedstock Project plans to introduce a community currency in Vancouver to strengthen local economic activity and support nonprofits working in food security, the arts, and health and wellness.

Participating businesses issue the Seedstock, then put it into ciruclation by donating it to a local nonprofit. Businesses agree to accept partial or full payment in Seedstock money, via paper bills or electronically.

Jordan Bober, a project organizer told the Georgia Straight:

Right now we have a monetary system that doesn’t really serve people, you know? Money’s created by the banks and it serves their purposes and then it generates some pretty destructive patterns including our growth imperative that makes us think we need to be fracking and putting pipelines to the coast and all that kind of stuff.

I think that a community currency is just the best way that I’ve ever seen as an economist to actually create a strong, local economy.

Encouraging to see this project underway in my own city. I’ll follow which local businesses and charities get involved and how use of the currency actually benefits their work.