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My organization would definitely accept Gresham Dollar for most transactions. I don't know what the organization would be called though. Any ideas? I can cer
by Suncho 11y ago
My organization would definitely accept Gresham Dollar for most transactions. I don't know what the organization would be called though. Any ideas?
I can certainly imagine a poor community transacting in Gresham Dollar among themselves. Since a large part of their incomes will consist of GD, they'll probably want to save their USD (if they even have any) for when they absolutely need it.
One potentially tricky part is that we need to come up with a straightforward way for poor people to transact in GD among themselves. It's easy if you have a debit card (or similar) and you buy from a merchant who's set up to process that debit card. But it's not as simple if you're dealing with a friend who doesn't have a payment system set up. They could transact online through an app, but we'd have to ensure they had smart phones and a way to keep them charged. More and more poor people are getting smart phones, so this is a hurdle that's probably shrinking with time.
Even if the poor people with basic income accounts trade among themselves, GD will still, on average, flow out of the poor community and into the hands of our merchant partners. The GD will then be continuously replenished through people's basic incomes.