Challenge and Goal
Our vision is for the LocalPay systems to become a day-to-day experience for millions of people regardless of location worldwide. Connecting and paying with self-generated currencies will become easy, free, and secure. The general public will understand and use their own monetary power, rather than relying on scarce national currencies or speculating on volatile cryptocurrencies.
Local currencies have been held back by a lack of cutting edge technology, standards, information and training. The goal of the LocalPay Technology Project is to support infrastructure development, build the IT systems that will allow us to significantly grow our current user base and ensure an open-source future for the non-money payments system of the post-industrial, abundance economy.
In this upgrade, we are determined to help people benefit from local currencies without them becoming dependent on platforms provided by corporations that seek to create commercial monopolies. If you are a donor or investor, then this principle is key. We see major investment going into systems that are often small by comparison to our user base, or speculate on user uptake, or seek to establish monopolies and extract fees. If that continues, then donors and investors in this field could be counterproductive to the future scaling of community exchange. As the largest providers of free software for grassroots community currency systems, led by UN-published internationally-recognised experts, we suggest donors and investors to talk to us as part of their due diligence before funding activities in this field.
After mapping technical trends against our user needs, we have develop a three year project proposal with eight workstreams. The full plan and provisional budget is available upon request. The plan covers the following:
- Establish Collaboration Systems and Common Software Architecture
- Migration to common platform
- Community Development
- New Web Services
- Scaling Up
- Decommissioning the platforms
The LocalPay Technology project will choose and deploy the best option for enabling intertrading between local currencies, after examining a range of distributed ledger technologies such as Ethereum, Ripple, Stellar, and Holochain.