Using reward points as money

One economy, two currencies: one for us mortals (consumers/employees), one for going concerns (business entities).

Posted by Ash George August, 07, 2021 14 likes

My proposal involves an economic system involving two currencies. One for us mortals (lets call it reward points), one for going concerns including corporations and sole traders (that's the fiat currency as we know now). Even though going concerns are managed or owned by people, we need to look at limitations of both using the same currency, as is the case now.

Our current economic systems do not provide the motivation to incorporate elements of the Doughnut economics framework. Separation of currencies not only provides that motivation, but also looks at reducing the extremes of our current economic systems. It also provides some sort of income protection for times when automation is involved across our economies on a grand scale.

Transactions including share trading and ownership, wages and social benefits, retail and wholesale spends or purchases, taxation or land valuation can be structured to ensure issues raised by Doughnut Economic framework are looked at. The switch to this dual currency system can be managed just like how European countries managed the switch to a unified currency.

This system lets us incorporate elements of the Doughnut economic framework twice - once when people are allocated reward points (e.g. social issues), once when business entities are reimbursed for their work (e.g. climate issues), thereby addressing the contributer of the relevant issue.

The concept is provided below:

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