Re-imagining money to broaden the future of development finance: what Kenyan community currencies reveal is possible for financing development

This paper argues that it is important to understand the nature of money and its impacts to be able to engage better with currency innovations for sustainable development. The paper focuses on the case of Bangla-Pesa, an alternative currency used in poor urban areas in Kenya, to demonstrate how currency innovation can work for poor people. The Kenyan non-governmental organization, Grassroots Economics, is helping to create business networks in the poorest urban areas. Vouchers, issued and honoured by every member of the network, function as a form of currency. This has led to an increase in turnover of more than 20 percent and corresponding economic growth, as well as a reduction of waste and unemployment. This model requires very little investment. However, despite an excellent and documented track record, Grassroots Economics was unable to secure any institutional funding. The authors suspect that this lack of support arises from a lack of understanding among development professionals about the nature of money, how new currencies can be created and which innovations are useful. This paper therefore seeks to inform policy makers about the nature of money, offering a new typology of money called the Value-Sequence Typology, which categorizes “monies” based on the process and justification for issuing new units, or in this case, vouchers. The authors propose a new definition of money as a system of agreements and symbols which influence the creation and exchange of value and power. The agreements, whether explicit or implicit, about the relationship between the symbols of money and when the actual value of what was monetized changes hands, (before, during, or after) are the most important signifier of money types. Grassroots economics, in a context of a community of micro-entrepreneurs, uses a Collaborative Credit System (CCS) in which members issue interest free credit to each other. This is similar to how most national currencies are created, yet it is done peer-to-peer, without the involvement of banks. The authors feel this is particularly important in a time of declining official development assistance. Creative insight into the nature of money could enable a new era in development cooperation through promotion of collaborative credit systems

Complementary currencies for sustainable development in Kenya: the case of the Bangla-Pesa

This paper is a report on the development of a complementary currency system that allows Kenyans in informal settlements to trade goods and services and meets sustainable development objectives. The system in this report, Bangla-Pesa, uses a mutual-credit model through a network of local business, including many whose owners fall under the extreme poverty line. The paper documents the reasons for its creation, how it was launched, the immediate positive benefits upon launch, and some of the difficulties faced. Bangla-Pesa is shown to facilitate exchanges of roughly 50 Euros in value per day among 109 businesses, which should raise living standards in the community primarily through the utilization of excess business capacity. After only a week of circulation – Bangla-Pesa helped community members increase sales an estimated 22% through capacity trading. This system’s implementation and governance model are detailed with the aim of improving upon and replicating the model for future sustainable development programs

Mothers construct fathers: Destabilized patriarchy in La Leche League

This paper examines changing masculine ideals from the point of view of women homemakers through a case study of La Leche League, a maternalist organization dedicated to breastfeeding and mother primacy. We suggest two reasons for studying the League: first, an emerging literature suggests that changing norms are seeping into many such seemingly conservative groups, and second, the League continues to be highly successful among white, middle-class, married women. The paper looks at two aspects of masculinity, examining changes in the League through fieldwork, interviews, and content analysis, and finds that new norms of increased father involvement and decreased rights over women's bodies have both influenced League philosophy. We conclude that while in some respects a measure of the decline of men's patriarchal privileges, the League's changes also may contribute to a “restabilization” of male dominance in a modified, partial form.Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/43548/1/11133_2004_Article_BF00990071.pd

Creating endogenous growth: introducing community inclusion currencies within rural communities

Although economic cooperation has significantly enhanced countries’ development, the countryside remains an economically underprivileged region in Africa. The scarcity of mainstream financial resources is mentioned as a contributing factor to difficulties experienced by rural communities. This research explores mechanisms for introducing blockchain based community currency in African rural areas to mitigate social and economic challenges. To achieve the objective of the study, extant literature was scoured to distil past studies and expand on a theoretical framework. The results reflect on the intricacies of financial systems in the continent’s economies, including the necessity to pinpoint key areas that drive willingness to embrace alternative financial instruments. The study’s findings will be invaluable for financial institutions and organizations engaged in economic cooperation and lay a crucial theoretical basis for future research

Sarafu Community Inclusion Currency 2020–2021

Measurement(s) Payment Technology Type(s) Monitoring Sample Characteristic - Organism Homo sapiens Sample Characteristic - Environment Complementary currency system Sample Characteristic - Location Keny

Branching fraction and CP asymmetries of B0→KS0KS0KS0

We present measurements of the branching fraction and time-dependent CP-violating asymmetries in B0→K0SK0SK0S decays based on 227×106 Υ(4S)→BB decays collected with the BABAR detector at the PEP-II asymmetric-energy B factory at SLAC. We obtain a branching fraction of (6.9+0.9−0.8±0.6)×10−6, and CP asymmetries C=−0.34+0.28−0.25±0.05 and S=−0.71+0.38−0.32±0.04, where the first uncertainties are statistical and the second systematic

Improved Measurement of the Cabibbo-Kobayashi-Maskawa Angle α Using B0(B¯)→ρ+ρ- Decays

We present results from an analysis of B0(B̅ 0)→ρ+ρ- using 232×106 Υ(4S)→BB̅ decays collected with the BABAR detector at the PEP-II asymmetric-energy B factory at SLAC. We measure the longitudinal polarization fraction fL=0.978±0.014(stat)+0.021/-0.029(syst) and the CP-violating parameters SL=-0.33±0.24(stat)+0.08/-0.14(syst) and CL=-0.03±0.18(stat)±0.09(syst). Using an isospin analysis of B→ρρ decays, we determine the unitarity triangle parameter α. The solution compatible with the standard model is α=(100±13)°

Improved measurement of the Cabibbo-Kobayashi-Maskawa angle α using B0(B)→p+p- decays

We present results from an analysis of B0(B¯¯¯0)→ρ+ρ− using 232×106 Υ(4S)→BB¯¯¯ decays collected with the BABAR detector at the PEP-II asymmetric-energy B factory at SLAC. We measure the longitudinal polarization fraction fL=0.978±0.014(stat)+0.021−0.029(syst) and the CP-violating parameters SL=−0.33±0.24(stat)+0.08−0.14(syst) and CL=−0.03±0.18(stat)±0.09(syst). Using an isospin analysis of B→ρρ decays, we determine the unitarity triangle parameter α. The solution compatible with the standard model is α=(100±13)°