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Digital currency and Refugee assistance

created:
22. April 2019
last edit:
22. April 2019
hits :
1 (during the last 30 days)
Tags: ideas & suggestions | announcements | Greece: Lesvos | General

Monetary support vs. free food/goods

Giving money to people in need instead of free meals has many advantages. It leads responsibility, reduces waste, gives choice and choice fosters dignity. In addition, it supports the local economy as any player can step in and offer services (food).

Digital currency instead of Money

These advantages can be further extended using digital currencies (DC) instead of cash or bank cards. Even when the use of digital currencies usually needs electronic equipment, the advantages are substantial as even small amounts can be distributed to an almost unlimited number of receivers with practically no effort. E.g. handing over an amount of € 3 in cash to each of ten thousand people would need about 80 hours of work but the same process done with digital currency would just be a few clicks on a computer.

FairCoin

The current proposal suggests the use of Faircoin (FC), a crypto-currency that has a fixed exchange rate to the Euro for monetary assistance for Refugees (called recipients) and whenever DC is mentioned FC is assumed. As a sample case the situation in Lesvos will be used.

Download pdf here