Alternative idea: The Multiple Value Economy

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I am playing with this idea of The Multiple Value Economy rather than the single JoyCoin. This approach offers alternatives and yet moves our economy away from the “(I have a hammer and) everything looks like a nail” mentality that our traditional single-value economy centred around “money” gives us.

I will eventually rewrite this site around this idea.

The Multiple Value Economy could offer an alternative to traditional, money-centric capitalism by recognizing a broader range of contributions to society, incentivizing social and environmental good, and fostering collaboration over competition. By creating tokens that reward specific domains like health, sustainability, community service, and creativity, we could create a system where wealth is multidimensional and rooted in diverse social values. This approach would empower individuals to contribute according to their passions and values, promote local economies, and reduce corporate monopolies by enabling more flexible and domain-based token exchanges. Ultimately, such an economy could support well-being and purpose-driven actions alongside financial gain, creating a more inclusive and resilient society.

Ideas for such tokens

Included in the mechanisms for each coin are evolving suggestions for their use, as this is a foundational concept still under development. A critical aspect of this multi-value economy is the universality of tokens—not limited to use within isolated communities but designed to enable interaction and collaboration across all communities. Some coins will naturally have cross-purpose relationships, fostering interconnectedness while retaining their distinct domains.

One of the most transformative ideas is ensuring that these tokens are not interchangeable into a single “universal token” for all transactions. Such a design would risk replicating the pitfalls of our current single-value economy, where the centralization of value distorts priorities, fosters inequity, and promotes exploitation. Instead, this multi-token system respects the unique value of each domain—whether love, sustainability, health, or creativity—encouraging a diverse and balanced economy that better reflects the richness and complexity of human and planetary needs.

These are also just suggestions to guide our thinking.

Joy Coin (for Love and Community)

Purpose: Rewards acts of kindness, community engagement, and positive social interactions.

Mechanics: Individuals could earn Joy Coins by participating in community service, volunteering, or even being rated highly for positive interactions in their networks. Coins could be used for discounts in social enterprises, access to wellness programs, or transferred to others as a sign of appreciation.

Eco Token (for Sustainability and Environment)

Purpose: Rewards eco-friendly practices and sustainable contributions.

Mechanics: Earned through actions like recycling, sustainable shopping, using green energy, or supporting environmental causes. These tokens could be redeemed for discounts on eco-friendly products or services or invested in environmental projects or green startups.

Health Coin (for Wellness and Healthcare)

Purpose: Incentivizes healthy behaviors, preventive healthcare, and wellness.

Mechanics: People could earn Health Coins through activities like exercising, attending medical check-ups, or maintaining certain health benchmarks. Tokens could be used for discounts on health services, gym memberships, wellness apps, or as part of insurance premiums.

Learn Coin (for Education and Skills)

Purpose: Promotes continuous learning, skill development, and knowledge sharing.

Mechanics: Earned by completing courses, gaining certifications, or teaching others. This could then be used for access to further education programs, books, software, or to subsidize skill-building resources.

Green Miles (for Travel and Transportation)

Purpose: Rewards sustainable and frequent travel, aiming for a greener travel economy.

Mechanics: Travelers earn Green Miles for choosing sustainable travel options like public transit or eco-friendly airlines. Miles could be redeemed for travel perks, sustainable travel services, or interchanged with Eco Tokens for carbon offset programs.

Creation Coin (for Creative Contributions)

Purpose: Values original content, art, design, music, and other creative expressions.

Mechanics: Artists, musicians, and creators earn Creation Coins based on viewership, engagement, or direct peer-to-peer transfers from admirers. Tokens could be redeemed for gallery spaces, design tools, or as an alternative to traditional currency for buying creative services.

Purpose: Rewards contributions to research, data sharing, and intellectual property.

Mechanics: Earned by participating in surveys, sharing anonymized data, or contributing to public knowledge platforms. Tokens could be used to access exclusive insights, research papers, or data services, fostering a rich open-data environment.

Purpose: Recognizes contributions to caregiving, elder support, and social services.

Mechanics: Individuals providing or requiring care could earn and spend these tokens within caregiving communities. For example, earned Care Coins could be used for subsidizing elder care, community housing, or support services.

In such a system, tokens could ideally be interchangeable or bridgeable across domains to allow flexible use and broader economic flow, encouraging individuals to engage with various sectors. If built on interoperable blockchains, tokens could flow seamlessly between wallets and ecosystems, enabling people to spend Joy Coins in social settings, redeem Eco Tokens in health contexts, and so on.

This token-based economy could redefine value by rewarding positive, sustainable, and socially beneficial activities while breaking down traditional silos—offering a pathway to a more equitable, dynamic, and purpose-driven economy.

Benefits of The Multiple Value Economy

Here are a few ways such an economy might help reduce the necessity for traditional, money-centric capitalism:

Decentralized Value and Wealth Representation

Traditional capitalism relies on money as the ultimate representation of value, which can lead to a narrow view of wealth that overlooks social, environmental, and personal well-being. Multiple tokens would decentralize what “wealth” means by letting people earn tokens for specific contributions (like community service or sustainable actions) that traditional economies rarely reward. This approach provides a richer, more personal valuation that recognizes diverse contributions beyond financial productivity.

In a money-driven economy, activities like community service, caregiving, or environmental conservation often lack financial incentive, as they don’t directly contribute to profit. However, with tokens designed to reward these activities, individuals and organizations would be motivated to pursue them without sacrificing income or well-being. Over time, this could create an economy that promotes the common good alongside traditional productivity, recognizing a variety of social, ethical, and environmental contributions as valuable assets.

Reducing Scarcity Mindset and Competition

Money-based economies often thrive on scarcity and competition, with everyone vying for a limited pool of financial resources. Multiple tokens, however, could foster a more collaborative, abundant mentality. For instance, people could earn Joy Coins or Care Coins through cooperation and mutual support, rather than direct competition. This diversified approach can empower people to pursue different avenues of fulfillment without the stress of having to monetize every action.

Empowering Communities with Localized Economies

A token system based on specific domains enables communities to develop localized economies. For example, a neighborhood could encourage sustainability by issuing Eco Tokens for community gardening, recycling, or sustainable commuting. These local tokens could be exchanged within the community, strengthening bonds and increasing resilience while reducing reliance on traditional financial institutions.

Reducing Corporate Monopolies and Lock-In

Under capitalism, large corporations often dominate by centralizing economic power and fostering dependency through lock-in. Domain-based tokens would encourage competition by being tied to specific types of contributions rather than corporate loyalty. For example, instead of a single, proprietary loyalty program, travel or retail services could offer Green Miles or Eco Tokens that are interoperable across multiple businesses, giving users more freedom and reducing corporate power.

Creating Alternative Pathways for Self-Worth and Success

Money-centric economies can often tie people’s self-worth to financial success alone, which can be limiting and even harmful. Tokens for domains like health, creativity, knowledge, or social engagement would open new avenues for people to feel fulfilled and valued, allowing for personal growth outside of traditional economic constraints. This multidimensional approach could empower people to pursue careers and lives that align with their passions rather than purely economic gain.

Flexibility in Economic Choices

With tokens representing different domains, individuals could decide which areas to prioritize based on their values and needs. For instance, someone focused on personal health might prioritize Health Coins, while an environmentalist might aim to collect Eco Tokens. This flexibility shifts economic agency to the individual, enabling them to engage with the economy on their terms and reducing the pressure to pursue purely financial gain.

The Multiple Value Economy could cultivate a society that values purpose-driven actions, community, and sustainability on par with financial gain. By broadening the definition of wealth, it could inspire individuals to contribute in ways that genuinely enrich society and the environment—moving towards an economy that prioritizes well-being over profit.