Mutual Credit Network

Welcome to the MUTUAL CREDIT NETWORK Project

The recent challenges we have faced globally are a useful reminder of the value of our local support systems and the fragility of the supply chains that come from across the globe.

Now, imagine such an anti-fragile community where people don’t have to choose between paying rent and buying food, a community without crushing debt (Statistics Canada, March 2019: “There was roughly $1.79 in credit market debt for every dollar of household disposable income.”).

Imagine a community where rent is affordable and essential purchases don’t come from warehouses half a world away and are dependent on fossil fuel burning and polluting delivery services that are driving climate change.

Imagine a local currency that only can be used in your local area and can’t be hoarded (which creates scarcity), a currency that puts money in the pockets of cash-strapped local businesses and also supports communities and the environment.

Such a currency, a mutual credit network (which is not a cryptocurrency!), already exists (opencredit.network, sardex.net are examples), and because we want to bring a version of it to Toronto to help businesses, communities and the environment, we are now partnering with Circlo.eco, an exchange platform for a circular economy currently in its alpha stage and based in Toronto.

We at the Transition Toronto Complementary Currency Group (transitiontoronto.org) want to help strengthen our local support systems by bringing to Toronto a homegrown currency platform, a community level solution to global inequality and environmental crises.

Our mission is to provide a local and complementary currency system that strengthens community connections by facilitating and encouraging local consumption and creating high-quality local jobs.

If you’re interested in this initiative and how you can contribute, reach out to us directly at tnotes.toronto@gmail.com.