THE FUTURE OF MONEY Bernard A. Lietaer - library.uniteddiversity ...

system ledger for transparent accounting. The system ledger is
always in balance, providing accurate and transparent information
about the state of the system.
The Bia currency is intended to replace the Thai Baht for local
purchases, increasing possibilities for import substitution and local
production activities. For example, discussion with the villagers
revealed that a significant amount of money was being spent on nonlocally
produced snack food, whereas more healthy snacks could be
produced locally.
Through participatory and co-operative activities, a system has
been designed that reflects community needs, desires and most
certainly input. It uses a sound and simple accounting system that
suits the community into which it was introduced. It has the support
of important individuals in the community as well as broad
community interest. Although future developments of the system are
for the community itself to decide, the system even at this stage
allows for a substantial development in import substitution, interestfree
banking, micro-credits, and funding of health programs and
education through the Bia Bank.
The Bia Kud Chum Community Currency System is the first system
of its type in South East Asia. What is technically original here is the
combination of a paper currency technology with a group system of
mutual credits (each account Unit represents in fact a group of coresponsible
individuals). What is also significant is that this Thai
NGO project is a direct result of co-operation and cross-fertilisation
of Dutch, Canadian and Mexican complementary currency expertise,
funded by a Japanese non- profit. It symbolises thereby the rising
sophistication and globalisation of the complementary currency
movement.
Complementary currencies in the Information Age