Tag: community currencies

Was this the most expensive degree in the history of Universities?

jembendell2 Comments

Ten years ago today, the first payment of public university fees in Bitcoin was processed – and live on stage at a festival in Paris. Bitcoin is currently around 60,000 dollars each. Back then, on May 7th 2014, it was around 430 dollars each. Would that make it the highest fee ever paid for a degree? Is the Bitcoin worth 400 or 60000? That’s a philosophical argument one could debate forever – or at least in a PhD thesis.

The payment of 1 BTC (as an instalment for the full course fee) was made live during a panel on the future of currency. The PhD student was Leander Bindewald (on the right in the picture above) and he went on to complete his thesis on the discourse of money (see below for a close up of the payment screen).

I was Leander’s supervisor, and had arranged for the University of Cumbria to be the first public University in the world to accept cryptocurrency for payment. One can only wonder what might have been if the University had decided to retain the Bitcoin rather than convert it immediately into pounds. At least I’d have met my income target (finally). At 6 BTC for a graduate certificate (see below), that would be 360,000 dollars at current market rates. Wow… although studying with me might have been priceless 😉 Today I am happy to keep teaching a similar course after leaving academia (quick plug: ‘Leading Through Collapse’ happens online in September and in person in California in October).

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Job Creation Without Austerity or Debt

jembendell5 Comments

In the face of financial crisis and mass unemployment, do you believe we have to choose between either austerity or debt-funded economic growth? Its a false choice, based on false assumptions. My video-keynote at a forthcoming conference in Denmark, explains how we can achieve job creation without austerity or more debt, by redesigning our monetary systems.

If you are near Denmark, go join the conversation at Rebuild21.

Want to learn more? Access more materials.

Collaborative Consumption and Beyond

jembendell2 Comments

Do you have a car pool at work? Car-sharing revenues in North America have been predicted to reach US$3.3 billion by 2016. There are many start-ups in this field, including Zipcar, which floated last year for US $174M. Enabling the more efficient exchange and sharing of products and services, in order to increase human well-being while reducing the consumption of natural resources, is a key dimension to the sustainability transition. The increasing penetration of the internet means new systems of exchanging and sharing products and services, are growing, in many areas. Facebook’s CEO has even emphasised the potential for developing new sharing enterprises as key to its future financial success, after floatation.

These developments in “collaborative consumption” bring a new dimension to the existing forms of alternative exchange systems, such as business barter networks or countertrade agreements, and community currency systems that help connect underused assets with unmet needs. Countertrade accounts for around 20% of world trade, while one national barter network now involves 1 in 5 small or medium sized companies in Switzerland, amounting to over US$1.5 billion a year. The new sphere of peer-to-peer financial-lending has taken off, and predicted to reach US$5 billion next year. It appears to be a time of disruptive innovation through new forms of sharing, exchanging, renting and co-owning.

Some of these activities are important to sustainable development, and, therefore, to the broad field of responsible enterprise (whether we label our work corporate social responsibility, sustainable business, social enterprise, shared value, responsible or impact investment, or some other term). For business executives to contribute to a positive sustainability outcome from these developments requires enhanced understanding of how to explore ways to become involved, including by adapting their own business models.

Which means there is an educational need, for those of us interested in enabling the sustainability transition. Lifeworth Consulting is conducting research on these developments, for presentation in July at the EABIS colloquium at IMD (in Lausanne), and in September at the Necessary Transition conference at GBS (in Brisbane). So, if you are currently employed, and would like to receive the results of this research, please participate in our 5 minute survey, it would really help:

http://www.lifeworth.com/survey-responsible-enterprise-collaborative-consumption

Please, click that link!

Thanks, Jem Bendell

Lifeworth founder and Adjunct Professor @ GBS