crco:credit_commons

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crco:credit_commons [2026/03/01 16:59] – [Credit commons and the commons economy] Simon Grantcrco:credit_commons [2026/04/20 19:42] (current) – external edit 127.0.0.1
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-# Credit commons+This topic is part of [[gt:economy|Economy & finance]]. 
 +====== Credit commons ======
  
  
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-## What's a credit commons?+===== What's a credit commons? =====
  
 It's the 'money system' for the commons economy, if you like. Money in the modern world _is_ credit, and from a commons perspective, that credit should belong to all of us, in common, not the banking system. _[Thomas Greco](http://lowimpactorg.onyx-sites.io/posts/future-of-money-thomas-greco) coined the term credit commons to describe a global system of mutual credit networks linked via a protocol._ It's the 'money system' for the commons economy, if you like. Money in the modern world _is_ credit, and from a commons perspective, that credit should belong to all of us, in common, not the banking system. _[Thomas Greco](http://lowimpactorg.onyx-sites.io/posts/future-of-money-thomas-greco) coined the term credit commons to describe a global system of mutual credit networks linked via a protocol._
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 A global credit commons can be built by federating local trading groups together (but with autonomy for local groups), and the tool for doing that is the Credit Commons Protocol (see below). So we can talk about credit commons as a concept, but use capital letters when we talk about a town's network, the global network or the protocol. A global credit commons can be built by federating local trading groups together (but with autonomy for local groups), and the tool for doing that is the Credit Commons Protocol (see below). So we can talk about credit commons as a concept, but use capital letters when we talk about a town's network, the global network or the protocol.
-### Global Credit Commons+==== Global Credit Commons ====
  
 We need scale to challenge the current money system, but starting at scale involves massive cost and risk (of failure or corporate takeover). Credit commons is about federating small, local schemes to get to scale. We need scale to challenge the current money system, but starting at scale involves massive cost and risk (of failure or corporate takeover). Credit commons is about federating small, local schemes to get to scale.
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-### Credit Commons Protocol+==== Credit Commons Protocol ====
  
-_Matthew Slater and Tim Jenkin introduced the Credit Commons Protocol via a [White Paper](https://creditcommons.net/assets/credit-commons.pdf) in 2016._ It's a set of standards and rules that govern how transactions are recorded and managed within a network. It utilises digital ledgers, similar to blockchain, to ensure transparency, security, and accountability. However, it differs from blockchain in emphasising mutual credit rather than cryptocurrencies.+_Matthew Slater and Tim Jenkin introduced the Credit Commons Protocol via a [White Paper](https://creditcommons.org/assets/credit-commons.pdf) in 2016._ It's a set of standards and rules that govern how transactions are recorded and managed within a network. It utilises digital ledgers, similar to blockchain, to ensure transparency, security, and accountability. However, it differs from blockchain in emphasising mutual credit rather than cryptocurrencies.
  
 A protocol is a bit like the rules of chess. To exchange with each other, we have to agree about how we keep score, otherwise there'll be free-riding, disagreements etc. With chess, if someone has a different idea about what chess is, you're not going to be able to play with them. A protocol is a bit like the rules of chess. To exchange with each other, we have to agree about how we keep score, otherwise there'll be free-riding, disagreements etc. With chess, if someone has a different idea about what chess is, you're not going to be able to play with them.
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-## What are the benefits of credit commons?+===== What are the benefits of credit commons? =====
  
 - **Democracy:** it's clear from the name that the means of exchange is credit (a relationship) rather than a commodity or token (a thing), that can be hoarded, accumulated and lent at interest, which concentrates wealth, creating inequality and [preventing real democracy](/demo/democracy). - **Democracy:** it's clear from the name that the means of exchange is credit (a relationship) rather than a commodity or token (a thing), that can be hoarded, accumulated and lent at interest, which concentrates wealth, creating inequality and [preventing real democracy](/demo/democracy).
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-## What can I do?+===== What can I do? =====
  
 The main route to a global Credit Commons is via [credit clearing](/crcl/credit_clearing) and [mutual credit](/mucr/mutual_credit) – tools that can be used by networks of trading businesses. Credit clearing networks are growing in places like [Liverpool](https://localloop-merseyside.co.uk/), in ways that will be replicated everywhere. Local mutual credit networks can be generated from clearing schemes, or started by a group of small businesses that trade with each other regularly. [Contact us](http://lowimpactorg.onyx-sites.io/about/contact/) if you're part of a group that may be interested, and we'll put you in touch with specialists who can help. The main route to a global Credit Commons is via [credit clearing](/crcl/credit_clearing) and [mutual credit](/mucr/mutual_credit) – tools that can be used by networks of trading businesses. Credit clearing networks are growing in places like [Liverpool](https://localloop-merseyside.co.uk/), in ways that will be replicated everywhere. Local mutual credit networks can be generated from clearing schemes, or started by a group of small businesses that trade with each other regularly. [Contact us](http://lowimpactorg.onyx-sites.io/about/contact/) if you're part of a group that may be interested, and we'll put you in touch with specialists who can help.
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 _A ‘commons economy app’ will be developed with 3 accounts – a wallet for shopping, using discounted vouchers bought with cash; a mutual credit account for trading – i.e. where you do your business; and a future use vouchers account, for savings / pension, where vouchers for essentials can be aggregated. The three accounts are connected, and eventually, all transactions can be via mutual credit rather than bank money._ _A ‘commons economy app’ will be developed with 3 accounts – a wallet for shopping, using discounted vouchers bought with cash; a mutual credit account for trading – i.e. where you do your business; and a future use vouchers account, for savings / pension, where vouchers for essentials can be aggregated. The three accounts are connected, and eventually, all transactions can be via mutual credit rather than bank money._
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-### Credit commons and the commons economy+ 
 +==== Credit commons and the commons economy ====
  
 Tom Woodroof of [MCS](https://www.mutualcredit.services/) and [Local Loop Merseyside](https://localloop-merseyside.co.uk/) explained how various aspects of the commons economy can be connected via the CC Protocol:  Tom Woodroof of [MCS](https://www.mutualcredit.services/) and [Local Loop Merseyside](https://localloop-merseyside.co.uk/) explained how various aspects of the commons economy can be connected via the CC Protocol: 
  
-> “_the vision is that you’ll have a wallet app on your phone. If you’re a business, you can add your invoices so that you can do credit clearing. You’re also part of a mutual credit network within that larger clearing network, so you have a mutual credit balance. In other parts of your life, you’re a consumer, so you have a balance showing how many local retail vouchers you have, and then you also have a balance that shows your rent credit obligations as a tenant of the local housing commons or your energy vouchers in the local energy commons. This will be one app with different modules/accounts, all interoperable_".+> “the vision is that you’ll have a wallet app on your phone. If you’re a business, you can add your invoices so that you can do credit clearing. You’re also part of a mutual credit network within that larger clearing network, so you have a mutual credit balance. In other parts of your life, you’re a consumer, so you have a balance showing how many local retail vouchers you have, and then you also have a balance that shows your rent credit obligations as a tenant of the local housing commons or your energy vouchers in the local energy commons. This will be one app with different modules/accounts, all interoperable".
  
-### Credit Commons Society+ 
 +==== Credit Commons Society ====
  
 The [Credit Commons Society](https://creditcommonssociety.org/) (CCS) has been set up to to foster an ecosystem of groups and networks supporting the Credit Commons, and will be involved in its governance. You don’t want the same people running the system and providing governance oversight. A body with experienced 'elders' will provide governance. It's intended to function as a foundation (like the [Linux Foundation](https://www.linuxfoundation.org/), for example, or in the case of the chess analogy above, like the World Chess Federation), helping build a global Credit-Commons-enabled economy. The [Credit Commons Society](https://creditcommonssociety.org/) (CCS) has been set up to to foster an ecosystem of groups and networks supporting the Credit Commons, and will be involved in its governance. You don’t want the same people running the system and providing governance oversight. A body with experienced 'elders' will provide governance. It's intended to function as a foundation (like the [Linux Foundation](https://www.linuxfoundation.org/), for example, or in the case of the chess analogy above, like the World Chess Federation), helping build a global Credit-Commons-enabled economy.
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 <caption> <caption>
-_Matthew Slater and Tim Jenkin introduced the Credit Commons Protocol via a [White Paper](https://creditcommons.net/assets/credit-commons.pdf) in 2016._+_Matthew Slater and Tim Jenkin introduced the Credit Commons Protocol via a [White Paper](https://creditcommons.org/assets/credit-commons.pdf) in 2016._
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 +===== Forum =====
  
-## Further resources+This topic belongs to the section [[gt:economy|Economy & finance]]. You can ask questions or add information on the corresponding [Forum section](https://forum.growingthecommons.org/t/economy). 
 + 
 +===== Further resources =====
  
 - Tom Greco, _[the End of Money and the Future of Civilisation](https://beyondmoney.net/welcome-to-the-new-2024-edition-of-the-end-of-money-and-the-future-of-civilization/)_ - Tom Greco, _[the End of Money and the Future of Civilisation](https://beyondmoney.net/welcome-to-the-new-2024-edition-of-the-end-of-money-and-the-future-of-civilization/)_
  
-- [Credit Commons Protocol](https://creditcommons.net/)+- [Credit Commons Protocol](https://creditcommons.org/)
  
 - [Credit Commons Society](http://lowimpactorg.onyx-sites.io/posts/introducing-the-credit-commons-society/) - [Credit Commons Society](http://lowimpactorg.onyx-sites.io/posts/introducing-the-credit-commons-society/)
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-## Specialist curators of this topic 
  
 +===== Related topics =====
 +
 +- [Mutual credit](mucr:mutual_credit)
 +- [Commoning](comg:commoning)
 +- [Commons economy](coec:commons_economy)
 +- [Use-credit obligations](ucos:use-credit_obligations)
 +- [Collaborative finance](cofi:collaborative_finance)
 +- [ROSCAs - rotating savings & credit associations](rosc:roscas)
 +- [Housing commons](hoco:housing_commons)
 +- [Credit clearing](crcl:credit_clearing)
 +
 +
 +===== Specialist curators of this topic =====
 +
 +  * [[user:matslats|Matthew Slater]] of 
  
  • crco/credit_commons.1772384341.txt.gz
  • Last modified: 2026/03/01 16:59
  • by Simon Grant