Global Network of Policy Makers for Freedom

Global Network of Policy Makers for Freedom

Ma r c h  2 0 2 2 | V o l . 1 , N o . 3

#LGDC

The Global Network of Policy Makers for Freedom DAO provides technical services to

politicians interested in using crypto for human development.

THE LATEST:

Lugano, first freedom City with Theter alliance



Local currencies, economic and social development

EDITORIAL

All developments of digital local money or LGDC, for its acronym in English, requires 3 elements, such as: technology, legislation and convertibility.

In this sense, the Global Network of Policy Makers for Freedom, GNPF, is a DAO (Decentralized Autonomous Organization) registered in Wyoming, which offers technical services to politicians.

These technical services offered by the GNPF, favor the development of digital local currency and include fostering relationships with relevant LGDC technology providers,  advising on legislation that allows an optimal LGDC, topic feature of the upcoming April magazine, and encouraging the participation of one or more cryptocurrency exchanges, which ensure not only the LGDC convertibility, but the remote financial training services, which facilitate the informed participation of the inhabitants.

All this is based on two fundamental pillars, such as financial literacy and the use of technology to access cutting-edge financial services. Historically, LGCs, or coins promoted by local governments, preceded CBCs, or coins issued by a Central Bank. LGCs are also predecessors of LGDCs, digital currencies issued by local governments, and of cryptocurrencies. In the #LGDC March magazine, an international local currency expert, LGDC, shares his experience and vision, including the benefits of simultaneously using 2 currencies,  and the incorporation of one or more Crypto Exchanges that facilitate the development of the LGDC.

Lugano is the first Local Government, to announce using 3 currencies, Bitcoin, Tether and their own LGDC. Tether CTO Paolo Ardoino is a freedom maximalist and Switzerland human rights development make Lugano ‘Plan B” an initiative to support.

gnpc.lgdc@gmail.com
Twitter: @polforcrypto

#lgdc

In this section we will find initiatives that promote economic and social development through tickets, tokens and the like.

LOCAL CURRENCIES, MORE THAN SOMETHING ECONOMIC

Local currencies, like the new Lugano LVGA, sometimes known as social currencies, can be considered as a tool to stimulate the economy in a community; however, these can also become an instrument that allows the social and cultural development of an entire society.

According to Erick Brenes Mata, an expert in projects involving local currencies, these types of assets constitute “a methodology that can contribute to a local development strategy.”

And it is that every local currency project, whether digital or not, implies the elaboration of a local development strategy that generates a high impact in the community and that allows combating the problems that affect it. But how does a local currency work?

An example can be found eighteen years ago, in Honduras, and consisted of  “a social organization in a rural area supporting the issuance of a currency, that is, its production, and that asset helped local circulation, boosting its economy, so that when people arrived in the area, they participated in its economy through currency”.

And that is one of the main advantages of local digital currencies, the low associated costs and the implementation of security systems, as a result not only of technological advances, but also of the adoption of those advances by society. In Lugano the scope is bigger because includes Bitcoin and Theter previous to the LVGA deployment.
Ph.D. Brenes Mata comments on the “Punto Transacciones” project, which consists of “a network of SMEs exchanging products and services, without money and in a completely virtual manner: “And it is thanks to the blockchain, that the potential of social or local currencies has increased, mainly as a result of monitoring what can be made to the transactions and the articulation of the entire productive process that communities can do”.

“The software is nothing more than a tool that makes it easy to keep records of transactions and provides traceability to what is done. In terms of monetary theory, the wealth that is created in a place is measured according to the number of times a bill circulates, which can be easily determined thanks to the implementation of the blockchain”.

The Exchange or Compensation Fund is strategic, since currencies are an agreement, and the “software helps parameterize that agreement established by society”. The Exchange or Compensation Fund define the rules for the exchange of local currencies, like LVGA.
According to the expert: Once that monetary mass has been created, one can begin to articulate social or environmental projects. The “Las Turutas” project in Barcelona stands out, where there are high levels of migration of people with very low economic levels, for which the municipality identified several vacant lots in which organic gardens were articulated and whose labor was provided by migrants, in exchange for payment in local currency.

But who should support these projects? Do they arise as a private initiative, should they be from the community or should the State be in charge? Although nothing is written in stone, those projects that are supported by the state or by a municipality have great legitimacy and allow exponential growth.

Among the proposals discussed by Ph.D. Brenes Mata and which may or may not involve an economic issue, time banks per school stands out “They do not generate the slightest wealth measured in material terms, the child who is bad at math, but good at soccer and the boy who is bad at soccer, but good at math, can be found through the time bank and one teaches the other”;.

“All these projects can be adjusted to what the community wants and needs, but it is essential to break the paradigms, so that it is understood that economic relations can go beyond what the currency we use every day allows us to do”.

To see the full interview and obtain more information, you can visit the website:  https://youtu.be/SB-fFnKFIns

CRYPTO #LGDC NEWS

This section has the most important news about the implementation of local digital currency and its different uses.

MIAMI COIN AND ITS UNUSUAL PRICE

A few months have passed since the city of Miami launched Miami Coin, the digital asset aimed at breaking the taboo on the use of crypto assets in public administrations. However, today it is quoted at a
relatively low price, despite which, Mayor Francis Suárez indicates that they will not abandon cryptocurrencies and that thanks to Miami Coin, they have raised more than $20 million, which have been invested in… see more

New York Coin lags behind compared to Miami Coin

Although New York Coin seeks to position itself as the city that never sleeps and the capital of crypto assets, there is a limitation, New York cryptocurrency cannot be exchanged. Citizens can only extract digital assets, they do not have the possibility to buy or sell them, since more than 3,000 million coins have been extracted, which are valued at $0.0019 each. For its part, the city of Miami has achieved that Miami Coin can be exchanged for an amount of …see more

Mayor of New York bets on cryptocurrencies despite loss

In November 2021, New York City Mayor-elect Eric Adams said he would cash his first three checks in
bitcoin. However, given the declines in the value of Bitcoin and Ethereum, he could have lost around $600.
Despite the above, the New York mayor has indicated that he does not regret his investments and that in the future he will continue to make investments in … see more

Austin TX and Web3

Steve Adler, Mayor of Austin Texas, seeks to promote equity, diversity, accessibility, and inclusion through the adoption of blockchain technology. They have developed research in different areas such as smart contracts, supply chain, insurance, fundraising and even verification of identity. It should be remembered that in 2020 a proposal was made for this city to use smart contracts in … see more

Miami-centric NFT's?

ReserveBlock Foundation RBX Network, will open its blockchain so that interested people can develop NFT’s focused on Miami, all tending to increase the use of Miami Coin, the city’s cryptocurrency that is expected to provide the necessary impetus for it to become the capital of crypto assets. It seeks to democratize participation in the network and thereby reduce the burden of existing networks, while …
see more

Contact Us

If you want to be part of this initiative or appear in the magazine reporting on a specific project, write to us at: gnpc.lgdc@gmail.com
Website: https://gnpc.info/
Twitter: @polforcrypto