As a people-powered currency, Grantcoin gains its legitimacy from the voluntary activities of people — people choosing to acquire it, persuading businesses and organizations to accept it as a form of payment, and spending it in their communities.
As Grantcoin’s Basic Income grant program grows, two things will happen:
- Distributing Grantcoin to participants will become a bureaucratic headache for the Grantcoin Foundation, unless the process of verifying that signups are real human beings and sending out the grants is decentralized.
- Cities and localities around the world will start to have multiple residents who own some Grantcoin and regularly receive it as a Basic Income subsidy, which will make the currency more appealing for merchant adoption.
We encourage Grantcoin supporters to form local chapters of the Grantcoin Foundation to help with the verification and distribution process in your area, and to visit local businesses and ask them to accept Grantcoin coupons or e-currency.
Local groups now forming:
If you would like to start a Grantcoin group where you live, please contact the Grantcoin Foundation and we’ll add your group to the list!
“Grantbanks” and non-profit finance
As the Grantcoin movement grows, we hope that local chapters of the Grantcoin Foundation can evolve into something called Grantbanks — nonprofit financial institutions like credit unions or peer-to-peer lending clubs, with a socially responsible and philanthropic mission, using Grantcoin as the currency.
This is a long-term goal which requires widespread adoption and use of Grantcoin, at least in a community where such an institution would operate.
Forming a Grantcoin group in your community is the first step toward making this vision a reality. Let’s build a better financial system together!