NEO Magazine Issue 2 - Page 32

we may retrace our steps. Banking and exchange within the New Earth The NEX will operate through two primary interfaces; the first will serve as a foundation for New Earth Members, Micro-nations, Communities, Retreats, and other participants to operate through, and will be accessible to those participants only. All transactions taking place within this first interface will employ only Zero Point Economic (ZPE) principles. This primarily takes the shape of a Barter Economy using a currency which we call the New Earth Promissory. The New Earth Promissory is a medium of exchange that is created by the user and exists for the length of the transacting period, after which it is extinguished. The value proposition of the currency is purely for system/technological purposes, from a real life perspective the purpose of the currency is to make sure neither the buyer or seller are financially indebted to each other and the transaction becomes a no strings attached exchange. transaction, in which case the promissory will take on a new 10 orange value. The reason for this is to eliminate the notion of debt within the community and its residents. Once properly grounded within a stabilised community group, individuals will not need to keep track of their promissories in terms of balance or units available. According to the level of community stability (as determined by the community itself), the NEX will become little more than a transparent account management tool where balances are maintained automatically and promissories are made available to any individual during the event of a transaction enabling a true currency-less or cashless style of living – banking and accounting will be a thing of the past! And ultimately, so too will the promissories themselves! Exchanging with old-earth The second interface of the NEX is purposed for transactions between those within New Earth and those in the legacy system. This interface is e