Seedstock is an instance of Open Money, a theory of money first formulated by the community currency pioneer and LETSystem founder Michael Linton. In a nutshell, Open Money says that if money is treated more as information than as a thing, no community need live in financial poverty; that for an economy to be impeded by a lack of money is as absurd a notion as a carpenter not being able to complete a house for lack of inches.
When money is treated as information, or a unit of measure, the implications are profound; it means that any group of individuals can create its own money for transactions amongst themselves simply by tracking what each one gives and takes on a simple ledger. Money thus created cannot be hoarded; it cannot be inflated or deflated; it cannot be stolen, and it cannot take flight from the community. Open Money is a currency of connection, relationship and flow; it is money that goes ‘round and ‘round in the community, that returns after it is spent.
Seedstock uses an adaptation of Open Money principles to create a low-risk entry point for businesses while generating significant advantages for non-profit community groups and projects. It is our hope that Seedstock will educate more people to the possibilities that Open Money presents, and encourage many other applications of these revolutionary principles in Vancouver and beyond.