Dr. Cecilia Wee held a lecture where she discussed many examples of digital currency projects. From time-based currencies, complementary currencies to cryptocurrencies. There was a lot of information to take in. Leaving the lecture, I realised there were so many routes I could explore for this project. In this blog I talk about a few of these projects I found most interesting.
One particularly interesting project was 'Echo - Economy of hours'. This is a marketplace without money. 'Individuals buy and sell their skills, services and resources.' (Echo, 2018) It provides a platform for people looking for help in something, such as DIY. Booking someone’s time so they can help you, bringing them together. This is an intriguing project as it develops a its own currency, Echos, within an environment where there is already a dominant currency - Pound Sterling. The aim of this currency is for those who trade within it, continue to do so as an Echo cannot be converted to a pound.
An example of a currency with a medium of exchange is the Rich Air project, 2002 by Shu Lea Chang. Driving around in a vehicle, the side reads 'GET GARLIC GO WIRELESS!'. This is offering people a Wi-Fi connection in exchange for garlic. I find this totally amusing as the item being exchanged is very unusual. If you wish to use the Wi-Fi, you must first buy garlic, which does seem economical since they are inexpensive, however, it’s amusing how someone may need to take this weird route of buying garlic to have an internet connection. Remembering that this was done in 2002 meaning individuals where connecting through their laptops rather than mobile phones. This project aimed to 'change the legal tender from the dollar bill to a garlic bulb.' (Cheang, 2015). In the video, someone is trading three months free webhosting for 20 garlic. This makes no sense!
I picked this project as an example because it's interesting to see a form of currency focused on exchanging something so unusual, garlic. What could my currency exchange? Unicorns?
Reference list:
Cecilia, Wee. (2018) Making money. [PowerPoint presentation]. Available at: https://artslondon.sharepoint.com/:b:/t/LCC_IID/EbF83ybuKPVCtVLk7ry49jQBk2GIA75a3N4nfRbuC5Iaxg?e=EVaIxp (Accessed: 6 November 2018).
Echo. (2018). Economy Of Hours | Banking Time. Available at: https://economyofhours.com/ (Accessed: 6 November 2018).
Cheang, S. (2015). GET GARLIC GO WIRELESS. Available at: https://vimeo.com/138715760 (Accessed: 6 November 2018).
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