These days, a growing number of social entrepreneurs are adopting blockchain, tapping the ability of the technology to create safe and transparent networks. For example, COMMON, a social entrepreneurship accelerator and collaborative community, has recently introduced a cryptocurrency known as COMMON Cents. The aim is to encourage collaboration and reward its members who are located in 21 countries.
Initially, COMMON was launched in 2011 by four marketing veterans as a social enterprise accelerator. That included help with pitch events and strategy. Under Mark Eckhardt’s leadership, the enterprise grew to become an affordable, accessible online enterprise. It uses such sites as project management platform Trello and collaboration site Slack. COMMON also helps entrepreneurs with functions such as strategic consultancy and advertising agency.
COMMON members tap virtual services such as accounting and finance advice, as well as networking with each other. To join the enterprise, you have to make an application and go through a vetting process. Members also pay a monthly fee.
The basic concept of COMMON Cents is to provide a universal basic income to members. It is a centralized digital currency for the COMMON community, aimed at encouraging over 200 community members to continue participating as they develop. COMMON is looking forward to keep members engaged by offering g monthly distribution of the currency to individuals who meet at least such minimum conditions as participating on a regular basis.