Crom Alternative Currency was officially launched on September 27, 2009. The Crom Alternative Currency is available as a single multinational alternative currency, an alternative currency to that which is issued by the world's central banks.
The leadership of the system are elected by the members, and the policy is decided by the members through the voting mechanism.
The idea of an alternative currency Crom was designed by Aljosa Duric, a free thinker and a self-taught researcher, who was elected the first president of the Crom Alternative Exchange Association.
Crom is an econometric symbol, in legal terms it does not have any material backing, its circulation is not imposed nor forced. Its value is determined by those who accept it strictly on a voluntary basis, generally as a symbol for activities objectified in a time interval of one hour.
It is issued into circulation through an electronic platform in an electronic form, its use has no territorial limits.
This alternative currency system can be accessed via the internet through computers or mobile devices.
The system operates within the Crom Alternative Exchange Association, and anyone may join it as long as they meet the condition of having an e-mail address, and they can join it in a form of a "Man", "Legal person from the public sector", "Legal person from the private sector" or "Virtual organization. Each "Man" receives 730 croms (24 hours x 30 days) from the system on the first day of each month.
Exchanges are made in the form of several types of electronic transactions. Within the system, there is a marketplace where supply and demand meet in a form of ads with pictures, deals can be reached through the internal messaging system.
Economic development :
A healthy global system consists of healthy local communities. The idea of this project is based on establishing relations of mutual cooperation instead of relations of competition, promotion and revitalization of local economic development through joint work on creating a network of small social communities that would altogether make up one large network without political coloring and allow the creation of a new collective awareness based on common sense, a future in which the value of new ideas would be decided by the free market.
Participants in the project are connected to the community from whose progress they benefit, they do not participate simply because of their own interests, benefits and wages, but rather because they have a common goal, the progress of the entire community.
One of the primary functions of the alternative currency Crom is, through the monthly income, to secure everyone a basic level of a dignified humane life. In addition, the goal is to give people economic and social security, as well as equal opportunity, and through an alternative currency to build bridges between individuals, businesses, communities, cities, states and their unfulfilled needs and objectives.
Since centralized money and centralized power are a symbiotic pair, in terms of achieving the highest form of democracy, the intention is to allocate the invested work required for the survival and the development of some community, and have as many of its members benefit from the fruits of its labor in order to decentralize wealth and simultaneously shorten the work week.
Crom Alternative Exchange Association is an organization founded upon the goal of enabling, those who are interested, in the exchange of intellectual, material and other goods outside the closed framework of the privatized global financial system with limited opportunities in which the conventional currencies circulate without any material backing, and thus offer a possibility of the removal of its negative effects whose cause are found in:
- the issuing of money in the form of debt,
- seigniorage (the difference between the intrinsic and nominal value of money),
- inequality of wealth distribution,
- fractional-reserve banking (credit multiplier).
The standpoint of the Crom Alternative Exchange Association is that the substance of the question whether a financial system works fairly and efficiently or not, is primarily determined by the way money is created and issued, who creates it and in what kind of a form. The starting point is that the monetary system affects our everyday lives more than the executive, judicial and legislative decisions altogether, that the fundamental source of power lies in the making of money and not laws, so according to that, the freedom based on monetary sovereignty and financial independence of the wider popullation is a fundamental condition required for the development of any kind of a civil democratic society.
The whole project is designed as an informational resource and a form of an offering of a wide range of services. It was initially launched in three different languages: English, Croatian, and Italian.
In its original form, its functionality consists of:
* Crom Website
* Crom Alternative Currency System
* Crom Alternative News
* Crom Forum
The founding assembly of association was held in Pula, Croatia on September 5, 2009 and in January 20, 2010 the Crom Alternative Exchange Association entered in the Register of Associations of the Republic of Croatia.
* Crom Alternative Currency - Official press release
* Croatian Nova TV coverage