The Responsible Currency and Payment Coalition works to help digital currencies and electronic payment networks to develop environmental, social and governance standards that contribute to the global commons.
In the face of climate change and inadequate global accountability mechanisms, citizens need to come together and create new systems to ensure a healthy operating system for the planet. While the success of Bitcoin demonstrates the ability to decouple money from nation states and the rise of Facebook’s Libra suggests that such global currencies are inevitable, we are left without metrics and systems to properly manage supernational issues.
We seek to:
- Encourage all digital currencies and payment networks to implement meaningful transaction fees that help pay for issues of the global commons such as climate, oceans, refugee management, and more.
- Develop international, participatory, governance processes to manage transaction fee collection and payments in support of the global commons.
- Research and report about international standards for Know-Your-Customer compliance to help thwart activity of bad actors.
- Support auditing, quality control and other “watchdog” activities that monitor select cryptocurrencies and payment networks to ensure responsible behavior.
- Convene entrepreneurs, investors, and policy-makers to facilitate communication, collaboration and learning in service of responsible, trans-national currency and payment activity.
In 2020, the RCC will focus on conservation of the Amazon rainforest as a case study for responsible management of the global commons.