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Complementary Currency Systems - Details

[text]t_ref,,United States[text] ([text]t_ref,,Merit Based Currency in Web Database[text])

Merit Exchange

[text]t_ref,,Administrator Information[text]
[text]t_ref,,Name[text]Alex Zorach
[text]t_ref,,E-mail Address[text]
[text]t_ref,,First Language[text][text]t_ref,,English[text]
[text]t_ref,,Second Language[text][text]t_ref,,German[text]
[text]t_ref,,Organization[text]Merit Exchange LLC
[text]t_ref,,Type[text][text]t_ref,,Private Enterprise[text]
[text]t_ref,,URL Address[text]
[text]t_ref,,Exchange System Information[text]
[text]t_ref,,Medium of Exchange[text][text]t_ref,,Electronic Transaction[text]
[text]t_ref,,Unit of Value[text][text]t_ref,,Units of Independent Value[text]
[text]t_ref,,Valuation[text][text]t_ref,,Non-Contract Agreement to Exchange Services[text]
[text]t_ref,,Cost-Recovery Mechanism[text]
  1. [text]t_ref,,Advertising Fee[text]
  2. [text]t_ref,,Liquidity Tax / Circulation Incentive / Demurrage[text]
  3. [text]t_ref,,Services Provided in National Currency[text]
[text]t_ref,,Source of Funding[text][text]t_ref,,External Funding[text]
[text]t_ref,,Purpose for Establishing System[text][text]t_ref,,All reasons[text]
[text]t_ref,,Year the System was Started[text]2008
[text]t_ref,,Size of Membership[text]61
[text]t_ref,,Population of Area Served by System[text]304,000,000
[text]t_ref,,Estimated Yearly Operating Budget[text]

[text]t_ref,,Internal Currency[text]: 100

[text]t_ref,,National Currency[text]: 2,500 USD (2,500 [data]d_ref,,MAIN_CURR[data])

[text]t_ref,,Yearly Volume of Trade[text]

[text]t_ref,,Internal Currency[text]: 420

[text]t_ref,,Additional Information[text]

Merit Exchange is a system that combines features of a social networking website, classified ads, and a community currency, called "merits", which is issued directly to members. Merits exist only as a record in a database, have no cash value, and cannot be loaned or borrowed. Merits are subject to a demurrage/holding fee, but as old merits are retired from circulation, new ones are issued continually and in equal proportion to active members. Members are free to use merits as a thank-you for free transactions, or they can offer to accept merits in lieu of national currency at a rate they are free to negotiate. Membership is open by invitation from existing members. Merit Exchange was launched for beta testing in April of 2009.

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