NEW YORK – A group working with Occupy Wall Street is proposing a global alternative currency system to replace the currencies of individual nations.
An online group calling itself "OWS Currency" is working to devise an "alternative currency system for participants at Occupy Wall Street," according to the group's charter.
"Occupy Wall Street and subsequent occupations prove that the people are eager for a new system," states OWS Currency. "Let's help them build it."
The online working group is being coordinated by the Foundation for Peer-to-Peer Alternatives, or P2P Foundation, which writes its mission is to "produce free/opensource technologies that help people create their own alternatives to the Federal Reserve Note and the system upon which it derives it's strength."
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"Achieving this ... simply requires us to construct an alternative system that does a superior job meeting people's needs," adds the foundation.
The currency project seeks to utilize several conceptual organizations already in existence that are attempting to create an alternative currency, including something called BitCoin, an experimental "digital currency ... that enables instant payments to anyone, anywhere in the world."
Also under consideration is PermaBank, which was created for the anti-Wall Street movement and seeks to develop and deploy a "set of technologies that align 'financial services' with the principles of permaculture."