ucos:use-credit_obligations

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ucos:use-credit_obligations [2025/12/14 10:51] – [What can I do?] daveucos:use-credit_obligations [2025/12/23 13:22] (current) – dave
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-Store of value: we’ve been promoting the idea of [mutual credit](/mucr/mutual_credit) as a means of exchange for a few years, explaining that if the exchange and store-of-value functions of money aren’t separated, the means of exchange will be extracted from communities and concentrated. If mutual credit is the means of exchange, use-credit obligations are used to save / store value.+_Store of value: we’ve been promoting the idea of [mutual credit](/mucr/mutual_credit) as a means of exchange for a few years, explaining that if the exchange and store-of-value functions of money aren’t separated, the means of exchange will be extracted from communities and concentrated. If mutual credit is the means of exchange, use-credit obligations are used to save / store value._
  
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-The market currencies that Paul Grignon talked about in ‘[Money as Debt](https://www.youtube.com/watch?v=2nBPN-MKefA)’ were really UCOs – that were eventually banned by the state.+_The market currencies that Paul Grignon talked about in ‘[Money as Debt](https://www.youtube.com/watch?v=2nBPN-MKefA)’ were really UCOs – that were eventually banned by the state._
  
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-Chris Cook came up with 2 inventions to reduce the risks of investing in UCOs, and to avoid regulatory capture (below). He explains more [here](http://lowimpactorg.onyx-sites.io/posts/storing-value-in-a-mutual-credit-world-chris-cook).+_Chris Cook came up with 2 inventions to reduce the risks of investing in UCOs, and to avoid regulatory capture (below). He explains more [here](http://lowimpactorg.onyx-sites.io/posts/storing-value-in-a-mutual-credit-world-chris-cook)._
  
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-Regulatory agencies are open to being influenced or corrupted by wealthy corporations that they’re supposed to be regulating – so big energy companies, for example, who may not like energy supply being brought into common ownership, might try to influence regulators to move against it. The fact that issuers of UCOs are membership organisations with registers of member-investors makes them less vulnerable to this.+_Regulatory agencies are open to being influenced or corrupted by wealthy corporations that they’re supposed to be regulating – so big energy companies, for example, who may not like energy supply being brought into common ownership, might try to influence regulators to move against it. The fact that issuers of UCOs are membership organisations with registers of member-investors makes them less vulnerable to this._
  
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-Tally sticks were UCOs used by Kings of England from Henry I to allow subjects to pre-pay taxes at a discount. Notches were made on hazel sticks that were then [split in two along the grain](https://en.wikipedia.org/wiki/Tally_stick#Split_tally) – one half for the taxpayer and the other for the state / tax authorities. When the two halves were put together, the notches had to match. It was an early form of very natural encryption!+_Tally sticks were UCOs used by Kings of England from Henry I to allow subjects to pre-pay taxes at a discount. Notches were made on hazel sticks that were then [split in two along the grain](https://en.wikipedia.org/wiki/Tally_stick#Split_tally) – one half for the taxpayer and the other for the state / tax authorities. When the two halves were put together, the notches had to match. It was an early form of very natural encryption!_
  
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-Deli owner Frank Tortoriello wanted to move his deli to a new premises in Great Barrington, Massachussetts, in 1989, but couldn’t obtain a bank loan. He issued ‘deli dollars’ – vouchers for future produce that were a roaring success, and allowed him to make the move.+_Deli owner Frank Tortoriello wanted to move his deli to a new premises in Great Barrington, Massachussetts, in 1989, but couldn’t obtain a bank loan. He issued ‘deli dollars’ – vouchers for future produce that were a roaring success, and allowed him to make the move._
  
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-[Island Power](https://www.island-power.net/) are helping set up renewable energy systems on islands, from the Pacific to the Channel Islands, using energy-credit obligations (ECOs).+_[Island Power](https://www.island-power.net/) are helping set up renewable energy systems on islands, from the Pacific to the Channel Islands, using energy-credit obligations (ECOs)._
  
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-It’s been difficult to challenge the current housing system via housing co-ops, community land trusts and various other mutual-ownership approaches, because of the need for groups to go into debt to get started. Rent-credit obligations allow community-based housing to grow without debt.+_It’s been difficult to challenge the current housing system via housing co-ops, community land trusts and various other mutual-ownership approaches, because of the need for groups to go into debt to get started. Rent-credit obligations allow community-based housing to grow without debt._
  
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 ## Further resources ## Further resources
  
 +- [Growing the Commons Forum](https://forum.growingthecommons.org/categories) - post queries on the commons
 +- [Growing the Commons Blog](https://growingcommons.substack.com/) - subscribe for commons news
 +- [Split tally sticks](https://www.core77.com/posts/67600/A-Medieval-British-Anti-Counterfeiting-System-Split-Tally-Sticks) - medieval anti-counterfeiting system
 +- [Mutual Credit Services](https://www.mutualcredit.services/) - designing commons models via UCOs
 +- [Deli Dollars](https://www.independent.co.uk/news/business/delidollar-offers-route-to-business-funding-1071370.html) - a type of UCO used in Massachusetts
 +- [Island Power](https://www.island-power.net/) - installing renewable energy using UCOs
 +- [Stroud Housing Commons](https://stroudcommons.org/housing-commons/) developing housing using rent-credit obligations
  
  
-## Specialist(s)+ 
 +## Specialist curators of this topic
  
  
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  • Last modified: 2025/12/14 10:51
  • by dave