Why do Circles tokens (CRC) have value?

Think of money as a language. We agree on its meaning and that shared agreement is why money has the ability to claim things of value. It may not seem like it, but it works the same way with euros or dollars. The physical representations of money (banknotes, coins, or even virtual digits) we use to exchange goods and services are worthless by themselves.

What is important are the “promises” that back up the money, the promise that you will get value for your money. The value that banks and monetary politics assign to them. For example, a piece of paper is now worth 20 euros.

Circles’ value or values are based on what services and goods people offer to the community: what they give and what they take from their circles of trust. If your company accepts CRC for every 10th customer, or you sell your bike for CRC, or translate for someone in the jobcenter and they pay you with CRC, this value comes into the system, stays in the community, and circulates.

Instead of waiting for the state, you spend your CRC and give basic income to your community.