Local payment software for Governments
The Cyclos software contains a set of tools that allows business-communities, cities and regions to strengthen their regional economy.
At the Bristol Pound we encourage people to spend their money with local businesses in Bristol and the surrounding region, to stimulate and generate a stronger local to regional economy. Our target population is around 1m making us the largest scheme of its kind in the UK. We spent a year researching what system would cope with our ambitions, talking to many experts in the field. In the end Cyclos was the only contender.Ciaran Mundy – CEO Bristol Pound CIC
Impact Multiplier consortium
Cyclos contains innovations that cause purchasing power to circulate more often and effectively in a specific region, resulting in a distinctive growth of economic activities within the region itself. The innovations can also leverage (government) expenditures to have more impact on the regional economy. We call this the Impact Multiplier. STRO co-coordinates the Impact Multiplier consortium, where the average region or city participating in this consortium has over one million inhabitants. For more information and news, see https://territories4resilience.eu/.
Local and regional governments
Cyclos4Pro introduces innovations to help regional and local authorities to stimulate their economies. They can channel existing funds and expenses through a regional/local payment environment in order to increase the local economic multiplier. The software also provides tools to create more and cheaper credits for local SMEs. Cyclos is used worldwide by many NGOs and governments. Below some examples are mentioned.
The Bristol Pound is the UK’s first city wide currency. The local Credit Union, a formal financial institution, manages the Cyclos accounts. The Bristol City Council accepts Bristol Pounds for local taxes. During the first years, the Mayor made a strong statement of support by accepting no less than 100% of his salary in local Pounds. Unfortunately, Bristol has been struggling to finance itself with the business model they were using. Luckily a software company could provide a big financial contribution, this means that the Bristol pound will end the use of Cyclos and start using the software of the donor.
The B£ encourages people to think about where their money is going and commit to spending a proportion of it locally. It helps to maintain the diversity and uniqueness of Brixton’s shops and market and build pride in Brixton. On the environmental front, the B£ supports local businesses in sourcing more goods and services locally and reducing their carbon footprint.
The famous Calgary dollars established in 1995 as a paper currency is now using Cyclos as their local currency software.
Catalonia and Spain
Santa Coloma, a Catalan city close to Barcelona uses Cyclos to enable a local payment system. The city council of Santa Coloma channels subsidies through the payment system, in which the local economic multiplier has reached 3. Using the special Cyclos features the payment network provides local SME’s more clients. Various communities in Spain use Cyclos.
“Circuit Nederland” (Circuit Netherlands) is a platform of approximately 3 Dutch local currency groups, such as the Utrechtse Euro (businesses originating from Utrecht), United Economy (sustainable businesses with clients all over the country) and local group of entrepreneurs in Alkmaar (VIX). Participants mostly trade within their own community, but can also trade with members of other communities.
RolloN Normandy, Heol Brest, SoNantes
The Rollon participates in the Impact Multiplier consortium on behalf of the Normandy region. The region has liberated €1 million to provide people from the region who buy Rollons a premium of 10%. The region provides free accounts and a bonus of 10 euro to all youngsters between 19 and 26 who join the Rollon.
Together with our partners Cylaos ICT and SoMoney credit municipal Nantes developed their own Cyclos front-end. This beautifully designed front-end is used by multiple cities and regional currencies in France. For more information please visit: https://annuaire.normandie-rollon.fr/ and http://en.somoney.pro/
And more local currencies in France and Belgium
Many local NGOs encourage people to think about where their money is going and commit to spending a proportion of it locally. It helps to maintain the diversity and uniqueness of local shops and market and build local and trusted networks. Our partner Cylaos ICT has helped many initiatives in France to successfully use Cyclos: Sol Violette (Toulouse) , Gonette (Lyon) , Abeille (Lot & Garonne), Bou’Sol (Boulogne), Val’Heureux and Le Voltî (Belgium)
The Euskal payment network in Northern Basque country located in the south of France deserves special attention. This network continues to grow. Presently 1% of the population has joined the network.
The municipality of Sassarie (Northern Sardinia) partnered with Sardex to deliver a social pay program where social funds of the municipality are distributed through a local payment network that increases the impact of that money on the income of SMEs in the city. Several local governments have requested assistance from Sardex to deliver the same in their municipality or region.