Delighted to find this post. It converges with ideas on “personal currencies” via gift certificates to good causes in the first comment on Douglas Rushkoff's talk here – http://j.mp/6Pokgm .

A further look at how cell phones (with Augmented Reality apps) could help personal currencies of this kind spread is here… http://j.mp/93An3F .

Look forward to your comments/ideas!

Best,

Mark Frazier
@openworld (twitter)

Statements such as “A bus company would accept to provide the service in exchange for these receipts.” are wonderful.

But I still have lots of questions. There are numerous articles on open money / currencies / complementary currencies on the Internet.

What is the practical way to use it? How to make sure the system “works”, fair, no cheating, etc.

What are the best practices?

How to decide how much money to “print” (i.e. issue credits, in whatever form)?

Who gets the authority to “print”/issue?

So far most of us has agreed to get rid of fractional reserve and interests.
Still begs the question, are new money created as “debts” or as “dividends”? Debts must be paid back (with no interest, that is the same value), dividends not (they're “lost money”?)

The last thing that's been bugging my mind is how to combine open money with co-operatives? They seem like match made in heaven to me..