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What is a Parallel Economy

A community currency for uk communitiesAt EEESafe we’ve designed a full community platform that will also house a Digital Currency which is not a Crypto-Currency.

This is because we are doing something new to reach key objectives like tackling Poverty, our Environment and put jobs and money back into the local communities where you live. Our model could soon be presented to all UK Member states and feed into Government Policies.

Crypto Investment is a gamble because you can win and lose large sums of money, and that is something we cannot condone when we set our vision to meet the objectives briefly outlined.

The EEECoin is designed initially put a common currency in all UK LocalitEEE Communities, to bring those who are the poorest of our communities together in partnership with those who can afford a lot more and want to help their own community thrive in a local and global sustainable way.

From a simple perspective the term “parallel economy” could be understood in a slightly different way than what is commonly described on online websites. While the common understanding of a parallel economy refers to an informal or underground economy that exists alongside the official or mainstream economy, there are nuances and additional perspectives that citizens should consider:

Local Barter Systems: Some communities or neighbourhoods might have their own parallel economies based on barter systems or local exchange networks. In these cases, people trade goods and services without involving official currency. This concept might not always align with the idea of an underground economy but can still be seen as parallel in the sense that it operates alongside the conventional monetary system.

Digital Parallel Economies: With the rise of cryptocurrencies and virtual economies within online games or virtual worlds, some individuals might perceive these digital economies as parallel to the physical economy. People can buy, sell, and trade digital assets, and even earn a living within these virtual spaces, creating a parallel economic system that exists in a purely digital realm.

Informal Sharing Economies: In certain societies, informal sharing of resources and services might be considered a parallel economy. This could involve sharing tools, vehicles, or even skills within a community without any official transactional framework. While this might not fit the conventional definition of an underground economy, it still represents a form of parallel economic activity.

Local Informal Services: There are instances where individuals provide services without formal registration or tax reporting, such as odd jobs, small-scale repairs, or informal tutoring. While not necessarily illegal, these activities might operate on a small scale and parallel to the larger formal economy.

Community-Based Initiatives: Grassroots initiatives that focus on local production, consumption, and sustainability could also be seen as a form of parallel economy. Community gardens, cooperatives, and local craftspeople working outside mainstream markets might be considered parallel economic endeavours.

Time Banking: In time banking systems, individuals trade services based on time rather than currency. Each hour of work is considered equivalent and can be exchanged for an hour of another person’s work. This could be seen as a parallel economic system that values human effort and skills in a unique way.

Community Currency from EEESafe and LocaliteeeIn essence, the term “parallel economy” doesn’t have a fixed definition and can be interpreted in various ways depending on the context and the perspective of the individual. It’s important to consider that the traditional understanding of a parallel economy often involves illegal or informal economic activities, but the concept can also extend to encompass other alternative economic arrangements.

So in our Model we are the Creators of the EEECoin, well you are in fact because it’s created from the money we donate to people in your community, as long as you participate in the model and you create at least one Digital Twin of your Household Appliances. See an example Community Set of Metrics here.

We donate up to 75% in £100 blocks of our Various Profit streams to your community and we will share any Carbon Trading Money between the consumer and Repair Stakeholder.  Our donations create the EEECoins.  Our special algorithm will ensure we will always create it and you spend it where you live or if it’s exchanged into other LocalitEEE Communities in the UK who participate.

The currency could be used by Social Prescribers, Businesses some Public Services and even the Dept of Work and Pensions to help evidence the activities of citizens in their local communities who are actively seeking work or volunteering.  Citizens are in charge of what they share with full observance of GDPR regulations.

To engage you simply have to Register at least one Household Electrical Appliance using the EEESafe Appliance Safety Register.

It is the intention to educate consumers that this currency is clearly linked to Environment, Tackling Poverty, Local Job Creation, Circular Economy and Safety in all of our homes. Citizen Profiles and Business Directory Entries will better inform everyone who is doing what to do help your community, giving you a choice in whom you choose to place your business with whilst allowing those who can ill afford the basics to be an active participant in the community where you live.

It gives everyone a chance to evidence they are engaged with helping People, at the Place where they live and anywhere on our precious Planet.

Bookmark this page as we will update it again shortly. Did we say Award Winning… SEE HERE

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