The Hub is one of my favorite models for coworking spaces. They have their own currency: the Ven.
Stan Stalnaker’s TechCrunch article is Bitcoin, Ven and the End of Currency.
He provides an overview of virtual currency, and shares some facts about Ven.
I think it’s important to have local currency, on the scale of a city or smaller. And for companies, and departments within companies, to have their own virtual currency. Here’s why:
Very similar to virtual currency, although it’s regulated, is Class B stock in companies. Class B stock lets investors in a company trade the “currency” valuing that company’s reputation… without letting investors have decision-making power over the people doing the work in the company. That’s the way all stock should be.
Local currencies, especially when the value is not tied to another currency, are a valuable self-regulating feedback mechanism that benefit people and economies: read Cities and the Wealth of Nations by Jane Jacobs.
And listen to This American Life’s “The Invention of Money“, exploring: What is money?, a society that used giant stones as currency, how Brazil changed from one currency to another to stop enormous inflation, and what the Federal Reserve does.