Ğ1 is a worldwide currency empowering parallel, local and circular economies
as community-level exchanges are encouraged by design. Decentralisation gives you access to Ğ1 currency wherever you are located (city or countryside), without dependency on centralised infrastructure.
Ğ1 transactions are encouraged by design
Ğ1 co-creators are encouraged to use their UD
s sooner rather than later, to benefit from their current high value. This is because, as the Ğ1 currency co-creation mechanism includes a UD value re-evaluation at every equinox, the UD reaches a higher value, in Ğ1s, every six months. So older UDs will be worth less value as time passes by. As a consequence, you won't find much benefit in saving your Ğ1s and will feel more inclined to circulate them in the community by exchanging them for goods and services.
Ğ1 is self-contained, not available for currency trading, and completely independent from other world currencies, so it is isolated from the impact of monetary policy, trading and speculation in and out of debt currencies ($,£,€,...), avoids boom and bust debt cycles, and instead provides a stable unit of value as a practical tool for life.
Value decided by Ğ1 users
When users trade a national currency for Ğ1, they are free to apply the exchange rate they want at the time. To acquire Ğ1, one may sell goods or services, but can also become a Ğ1 currency co-creator
It is completely up to the seller of the goods or services what price they put on their product. And then it's up to the prospective buyer to choose whether they value this product enough to exchange it for their Ğ1s.
Empowering parallel and local economies
Ğ1 is a worldwide currency empowering parallel and local economies.
- Decentralisation gives you access to Ğ1 currency wherever you are located (city or countryside), without dependency on centralised infrastructure. Ğ1 currency solves regional inequalities – all you need is physical or virtual neighbours to exchange with.
- Ğ1 currency is not necessarily a local currency as you can potentially exchange your Ğ1s for products and services with someone on the other side of the world. Although its global expansion is limited by the Web of Trust (whose rules may evolve), this has the advantage of encouraging people to meet each other in person, which strengthens the network of Ğ1 co-creators. As a consequence, it increases social interactions and creates a strong feeling of belonging to the Ğ1 community with a shared responsibility for maintaining the security of the currency.
- Ğ1 currency could be local if a local community creates its own local currency and backs it by the Ğ1 currency (instead of by fiat currency). Such a currency would be local only in name, as it would be easily convertible into Ğ1, which is theoretically an international currency.
Learn more in these FAQs