Abstract
The solidarity economy is an alternative economic arrangement recognized as capable of promoting sustainable development. In this model, community currencies are fundamental drivers for the circulation of local wealth and the creation of cooperative and solidarity relations among users. However, the very model of these currencies, based on social relations and territorial proximity, makes it challenging to scale and sustain their impact. Cryptocurrencies—and blockchain, the underlying technology—hold promise for scaling community currencies and creating a solidarity cryptocurrency. Some initiatives worldwide have experimented with the development of solidarity cryptocurrencies. However, this is a paradoxical process with risks not yet fully understood. In this study, we draw on the concept of tecnologia social and the design ethnography of an in-the-making solidarity cryptocurrency to propose six design principles and sixteen corresponding strategies for implementing a solidarity cryptocurrency. These design principles provide an initial guide for practitioners and policymakers who seek to create initiatives to scale the socioenvironmental impact of community currencies.
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Source: own elaboration
Source: own elaboration
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Managed by B Lab, which is a global nonprofit organization, the B Corporation Certification refers to a designation awarded to companies that meet high standards of social and environmental performance, accountability, and transparency. The certification process involves a comprehensive assessment of a company's impact on its workers, customers, community, and environment. Available at: https://www.bcorporation.net/en-us/movement/about-b-lab/. Accessed on: 22/12/2023.
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This work was partially supported by Fundação Getulio Vargas, Conexão Local Grant FY2021-2022 and Coordenação de Aperfeiçoamento de Pessoal de Nível Superior - Brasil (CAPES) - Finance Code 001.
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Sanches, B.H., Moraes, T.K.L., Santos, T.R. et al. Designing solidarity cryptocurrency: a path to foster borderless local development. Sustain Sci (2024). https://doi.org/10.1007/s11625-024-01485-7
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DOI: https://doi.org/10.1007/s11625-024-01485-7