Features of The Global Square

Currently under development and searching for coders at the Berlin Biennale The Global Square, a social network for the new-age protestor, has some intriguing features. In my last two posts, I told you about the Renaissance and Evolution Forums and the News Commons. Now I’m going to tell you the final and most unique feature that The Global Square will offer – the Global Market.

Eli Gothil wrote a blog post about how the spirit of Zucotti Park inspired him. He said,

“In the middle of all of this activity, I noticed a woman who was enacting a quiet revolution by herself. Leaning over a chair, she was giving free haircuts to anyone who wanted one. Perhaps you had to be there, standing between large skyscrapers dedicated to a financial system predicated on greed, to appreciate the significance of this simple gesture. It seemed to me that this was the spirit of the Occupy movement: not just protesting one world, but experimentally leading us to a new, better one with a different premise”

(Gothil). His idea is called #PunkMoney, and the idea is that Twitter users can create their own currency by tweeting promises and using the hashtag #PunkMoney to keep record of this money. This is only one of the influences behind The Global Square’s Global Market.

The Global Square recognizes that people have needs, but the Global Market will help to meet those needs without contributing to, “Current banking and wider systemic crisis such as usury and accumulation of capital” (The Global Square, 2012).  This system will use barter, trade, and open-source software to transfer currency to eliminate the need for banks, and therefore eliminate banking fees. Some of the other projects like #PunkMoney that The Global Sqaure is promoting are Opentabs, and Community Exchange.

This feature comes down to one of the true goals of the Occupy Wall Street Movement, by not just rebelling against the current system but instead creating a new one based on trust and donation rather than greed.

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3 responses to “Features of The Global Square

  1. This idea of forming a new currency is an interesting notion, but I wonder how much effect it could possibly have in the long haul. Who knows? But I love the story you shared by Gothil. It is inspiring to know that people still have some “human” left in them. When so much of the world is focused on nothing but themselves and getting things they want, it is great to know people are still willing to give. Brownie points for OWS!

    Sarah

  2. As a Finance Major who has been studying the role of banks, hard currency exchange ect. This presented an entirely new perspective of how to change individual consumer buying and saving habits. This article was extremely interesting (Sorry professor Andersen) to me because it presented a combination of a new unique system (Social media, bankless currency transfers, peer to peer debt holdings ect.) combined with ideas of age old systems (bartering, currency-less trade, ect.)

    My only hesitations on the systems are I question the real implementation of the system into current society. While this may actually have practical use among OWS members, I feel the current economic system is too reliant among banking institutions and currency for a large scale usage of this type of system.

    Another question I raise for the tab system is since this is not the nationally accepted means of currency what is to stop people from taking advantage of this system. Although no actual money is changing hands what is to stop an individual from gradually incurring an incredibly large “tab” and not paying it back?

    I definitely liked the idea behind this system as it is one of the first logical solutions I have heard purposed by the Occupy Wall Street Movement. The concept is great and creative in ideal and it definitely provides practical and possible attempts to become less reliant on banks and hard currency however I will be interested to see if this can catch on and the bumps it experiences in its actual market implementation.

  3. Pingback: Occupy Wall Street is Opening Doors | Occupy Wall Street Analysis

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