3FOOD

Third Industrial Revolution Consulting Group
safe” hosting the data and giving the citizen or the company the possibility to grant access to
specific parts of this “vault” to selected stakeholders (e.g. government, banks, insurance
companies, medical suppliers, etc.).
Data would only have to be uploaded once and changes could be made centrally, automatically
updating contractual relations for these specific areas in the vault for which stakeholder access
is granted. The deployment of such a centralized secure data vault seems to be a precondition
for a nationwide roll-out of “smarts contracts” in the financial sector and beyond.
A roll-out of such an ambitious project would imply:
Identifying and defining a first viable proof of concept
Providing the technical, secured environment,
Considering a secured interaction between smart contracts and big data related
concepts
4.3 B2C Regional Currency
The FWG is exploring ways to “Support the deployment of B2C regional currencies in
Luxembourg.” Luxembourg might investigate the necessary financial and legal mechanisms that
allow and enable municipalities to accept payments in regional currency. This can be further
supported by generating additional research and consultations to extend that capacity.
So far, practically every real economy transaction is depending on the smooth functioning of
one single currency. This “monoculture” may be very efficient, but not necessarily always
resilient. New currencies could increase the resilience of the economy.
Regional currencies favor regional exchange. Beyond the effects related to this, they also have
impacts directly related to the TIR process:
Encourage the use of regional renewable resources for energy production
Encourage the re-use of material in the region, hereby encouraging the use of reusable
materials, thus encouraging circular economy
Support regional production of food, by creating regional demand (“interlinkages”)
Regional currencies can be used to test TIR-related financial innovations such as blockchain on a
small scale meaning low risk, low costs and quickly feasible. Testing a “crypto beki” 274 quickly
would help to give rise to an adequate tool that could be used for the implementation of other
274 Beki is the name of an established Luxembourg complementary currency. See: http://www.beki.lu/. In January
2013, the association “De Kär” launched the only existing complementary regional currency in Luxembourg, the socalled
Beki. The Beki plays a key role in creating a regional and sustainable ecosystem.
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