The collaborative finance model integrates 5 elements. Some of them are already fully functional and others are in development.
- A complementary currency: NEXOS
- A system to articulate collective financing and investment in community projects
- A basic/collaborative income
- A system of attribution/recognition of value
- A cooperative ethical bank
Complementary Currency NEXOS
The complementary currency serves 5 main functions:
- Currency for local exchanges
- Currency to stimulate and incentivize markets and practices that fit the purpose of the Model.
- Currency to measure the value to be attributed or recognized to (developing) individuals, communities and territories
- Currency to articulate a basic/collaborative income
- Currency to implement a system of mutual credit between companies (under development)
Project financing system
Still under construction, the system of financing community projects will include:
- A crowdfunding platform for project financing
- A matchfunding mechanism based on potential alliances with public administrations
- A tool for the financing of internal projects of the different communities (in study the development with Cobudget)
- The creation of an investment fund for community projects (medium/long term)
Through the complementary currency, an unconditional and monthly basic income is articulated for the participants in the Model.
This income has three components:
- A fixed component that is credited to all attendees
- A variable component that is modulated according to the contributions made to the community
- A temporary solidarity component to resolve extraordinary situations of need or support
The complementary currency is the tool with which the attributable value is measured, according to its contribution to the community, which corresponds to individuals, communities and territories.
A calculation algorithm is initially proposed in which the following variables are used in a non-exhaustive manner:
- Number of advertisements published in COMMUNIFY
- Volume of transactions in Euros weighted according to the markets (food, mobility, etc.) in which we have intervened
- Volume of transactions in NEXOS with equal weighting system
- Number of projects promoted weighted according to the results obtained.
- Number of collaborations in other projects
- Ratings received from other members
Cooperative ethical banking
The bank provides:
- Infrastructures and services
- Payment and exchange services at NEXOS
- A mechanism for integration with the additional currency