Description
Circles is a new kind of money that anyone can create and use, without needing a bank or government. It is a system for universal basic income that operates on a blockchain, utilizing personal tokens (CRC) and a web of trust to create a complementary local economy. Instead of relying on a central institution, each person issues their own currency at a rate of 1 CRC per hour. Transactions are facilitated through a network of trust. The value of the basic income depends on the community it serves and its usage. Initially an act of solidarity, it can evolve into a living democratic economy. The idea for Circles dates back to 2013, initiated by Martin Köppelmann, and was launched in October 2020. The Circles Cooperative was founded in 2020 to manage the project, establish a pilot in Berlin, support communities worldwide, and handle communications. Circles is an open-source project, and the Circles SDK provides a comprehensive suite for building on top of its decentralized protocol.