| FairCoop

FAIR.COOP
FAIR.COOP MEMBERS
The open global cooperative which gathers together all the initiatives that aim to reduce economic and social inequalities between human beings, contribute to a new global wealth (accessible to all mankind as commons) and respect our planet and all its living creatures.
Anyone, individual or collective, who has registered themselves in the FairNetwork or participates in a local node.
FAIRCOIN
FAIRCOINS
The cryptocurrency that FairCoop has chosen on which to base their resource-redistribution actions and build a new global economic system.
All the existing coins, 50 million, were distributed at the beginning and, since then, a small percentage has been growing through savings. FairCoins are defined by the store value as well as the reference value for the pricing system. They can also be used as a medium of exchange for goods and services; however, for FairCoop members, the medium of exchange will be FairCredit.
FAIRMARKET
FAIRSAVING
This is a virtual market where all services and products are offered by FairCoop members and the currency used is either FairCoin or FairCredit.
This is a service offered by FairCoop for all those members who do not wish to keep and secure their own wallet. It also aims to promote savings.
FAIRCREDIT
FAIRCREDITS-CREDITSFAIR:
An evolved, global mutual credit system as a means for the exchange of goods and services. It is based on FairCoin (1fcd=1fc) and thus enhances FairCoin as value storage and FairCredit as the exchange medium. At the beginning of every account, the total balance of FairCredit is zero; therefore, within the community there will always be someone with FairCredits ( + balance) and others with CreditFair ( – balance).
Here’s an example:
FAIRCREDIT::The amount of FairCredit that you have (i.e. the account balance if it is positive). When you enter the mutual credit system, you have 0 FairCredits. If you exchange your own products or services, then you will have the amount of FairCredits equivalent to the price of the respective service or products. Thus, FairCredit acts as the coins or notes that you use within FairCoop, while FairCoins are the capital you have.
CREDITSFAIR: The amount of FairCredit if your credit account balance is negative (i.e. when you become member, your FairCredit balance is 0). If you purchase products with FairCredit, you will have x CreditsFair since you did not offer anything that provided you FairCredits to begin with. It is important to bear in mind that having a negative balance is not, in itself, negative at all (as long as exchanges are still taking place and the balance is not stagnating); it actually means that someone else has FairCredits. There is a maximum amount of CreditsFair that you can accumulate, and this depends on the trust you have built within the community, as well as your capital (i.e. saved FairCoins).
AVAILABLE CREDIT
CREDIT
Thee difference between your current balance and the agreed FairCredit expenditure ceiling, which is the maximum amount of CreditsFair that you can accumulate. This ceiling is calculated according to the degree of confidence that the community has in you, and this in turn depends on the community’s reliance on you, as well as the amount of FairCoins you’ve got.
The part of the available credit that can be used to increase someone else’s credit. It is the sum of your current credit balance plus the maximum amount of CreditsFair that you may accumulate.
FAIRFUNDING
FAIRFUNDS
This is the campaign that encourages growth of the FairFunds, which allows the financing of all projects that contribute to achieve FairCoop’s objectives.
Currently there are four funds: Global South, Commons, Technical Infrastructure and Ecosystemic. All of them, except the last one, are created by donations and with the objective of financing projects for the commons; therefore, these funds are a tool to re-distribute the economical resources, the FairCoins. The Ecosystemic Fund was created by a single donation and will survive from other forms of income that we will define, rather than by donations. This fund is to finance that organization and structure of FairCoop. Each FairFund has a council that has been elected by the community. Each council has the task of deciding how to best manage each FairFund.