Circles: A cryptocurrency that pays everyone

Apr 19, 2018, 8:07 AM EDT

When Bitcoin burst onto the scene, many were optimistic it would disrupt economics and pass off the opportunities resting with financial elites to those left out; unfortunately, the rift widened further as this cryptocurrency shaped up as just another asset class.

A cryptocurrency, called Circles, is creating a new kind of small, local economy, a glimpse of which is visible at a community co-op in Berlin, writes Fast Company.

The idea is to reward every volunteer in the co-op with 100 Circles tokens instead of giving free or discounted food, and let them use it as per their needs generating more local trade. The model nurtures the ambitions of developing a basic income system, independent of government or fiat currency.