Broad Street Wrington Web Archive
Living Lightly 
by Colin Hudson
How the HOPES EXCHANGE CO. works

We offer an alternative to "projects" seeking "funding," where much time is spent "applying", "waiting", , . . . And the needs have changed by the time the money comes. . . funds run out just as the project is achieving something.

Instead, the upliftment of the inner city is viewed as an entrepreneurial activity, empowering Community Builders.

Wellwishers, both inside and outside the community, buy into the upliftment of the inner city through the Hopes Exchange Company. Each R7.50 buys a voucher representing a basic hour of work called a HOPE. R5.00 goes to a "Redemption Account", (held by First National Bank) and R2.50 is put into an Organising Account to ensure effective use of the HOPES.

HOPES can only be issued for acts of upliftment in the community.

Businesses, and others, within the community who wish to encourage this community building strategy, are called "Redeemers", agreeing to accept HOPES for goods or services with a value of at least R5.00.

Alternatively the recipient can claim the R5.00 in cash. It is in everyone's interest to keep the vouchers in circulation (rather than cashed), first because the Redemption Account then earns interest (to be invested in entrepreneurs who can further uplift the eco - nomy of the community), secondly because, world-wide, thousands of alternative currency schemes reaffirm that "Exchange creates community; whilst money makes us strangers".

There are four denominations - 1, 2, 4, and 8 HOPES, since a typical day's work is 8 hours.
Although the HOPE is regarded as a "basic" hour, some tasks will deserve more than one HOPE per hour.
The vouchers can be personalised by children, especially elaborating the Smiley face in the top left corner. The serial number (bottom left) adds to security by being linked to other aspects of the design which can change slightly from time to time.

The Company also intends to eventually link these numbers to a Draw to further encourage entrepreneurial ideas for community-building. At bottom centre the original buyer of the HOPE is acknowledged. Individuals can buy HOPES in the name of family members, good causes, memorials, etc.

The currency can only be validated for an act of upliftment. The Issuer writes on the back
of the voucher the date, the uplifter's name, the act of upliftment, and then signs it. Acts
of upliftment would include contributing to security, maintaining an area clean, bringing joy, giving care, providing training, beautification, etc.
Local businesses, hawkers, professionals, etc. who wish to share in this community upliftment, display a sign undertaking to exchange the vouchers for either R5.00 per unit, or for goods or services valued at least R5.00. We hope that professionals especially will ofter generous rates of exchange!

Redeemers will be given specimen signatures of the issuers, as well as a current list of other Redeemers, and their offers of increased value. Reeemers will also have access to the status of the Redemption Account.

When a voucher is eventually redeemed for its face value, the validation is cancelled and the voucher becomes a receipt, shown to the well-wisher to thank / reassure him.

It can be reissued again when backed by another R5.00. Up to three issues can be made with a voucher. At all times the Redemption Bank Account contains at least the face value of vouchers in circulation.
HOPES Project is being promoted through a series of Strategic Alliances with stakeholders who share the vision. Several linkages are also being developed with the World Summit in August. Initially the scheme will be operated on a small scale, expanding only when fully understood and eagerly embraced by Well-wishers, Actors and Redeemers. Directors are elected from the Organising and Issuing Sections marked ** in the following Organogram: