Asset Based Community Development and Community-Led Local Economic Development

GRA activities in this area are informed by a set of research hypotheses about the value of building local sharing economies to address local needs and challenges that are urgent, but are not expressed by money-backed demand and so often go unaddressed. These can be revealed by using community currencies and addressed by mobilising mostly under-deployed local assets and spare capacities. Digital community currencies for social impact (digital social currency) hold a strong potential to enable novel solutions to local challenges to be developed. Using a digital currency will also appeal to social impact and interest investors, especially in a future environment of social impact bonds and pay-for-success instruments. Digital social currencies for local economic development can be developed alongside supporting institutions and infrastructures for governing the flow of community currency to ensure this supports outcomes that benefit community, for governing the data that the digital currency generates, and for earning and spending digital social coin within extended mutual aid networks. Using digital currency can help local initiatives to become self-sustaining and can support the development of social enterprises.