Ordu

Currency Idea

Ordu – Local Currency Concept

Ordu is also the plural. One Ordu, give me some Ordu.

LOCAL COUNCIL
Gives all staff 2% of their pay in Ordu, whether they like it or not. They can choose to have up to X% in Ordu (say 20%)
1 Ordu is the equivalent of one hour’s pay at council’s lowest rate / minimum wage.
As an incentive, and as a means of regulating flow, council gives a better exchange rate if they feel like it. Get 20% of your wage in Ordu and we will give you 15% more Ordu than the current rate.

COUNCIL WORKERS
Incentivized to spend Ordu locally (it cannot be redeemed outside of the local city/shire). Can also use it to pay for council services, especially taxes and rates.

REGULAR USERS
Anyone who is local or has local dealings can apply to use Ordu

MERCHANTS
Incentivized to accept Ordu, no fees and they get a bonus from the council, say 2%

 

THIS COULD BE THE LOGO:

ordu

CARD-BASED
Every user has a micro-chipped card. It has their name (and face?) on it. Purchases are “tap and go” up to say $200. Beyond that, and for person-to-person transfers, a PIN number is needed. Merchant cards need double (triple?) authentication.
Transactions are anonymous using a system like PGP or BitCoin or whatever. The merchant stores the user’s name, the pay device uses the user’s encrypted number. Only a police warrant, the mayor and the IT guy working together can access historical transactions.
4 Card Types: Worker, merchant, local person, non-local person – written on the card
Card Limits: for example, $1000 per person, $2000 per worker, $10,000 per merchant.
Card balances can be checked on a smartphone.

REDEMPTION
Person-to-person transfer. Just requires a smart phone app, and each person entering their PIN
Council – in the form of a direct deposit to the card owner’s nominated bank account (via App)
Council, in the form of rates (via App).
Redemption can also be incentivised if the Council feels there is too many Ordu out there.

BENEFITS
Drives local spending
Value and flow can be manipulated by Council and market forces, like a mini version of the state treasury.
Pride in having a card
Not a tax dodge