Putting mutual credit into practice
Along with the use of MercadoPAR, MonedaPAR’s digital marketplace, communities have found that the organization of trade fairs is an effective way of setting the wheels in motion. In these 2.0 markets, prosumers of a given node come with their products and exchange them using their PAR wallets.
For example, on Saturday 8 September 2018 the node of MonedaPAR based on the city of Mar del Plata held its third market 2.0. It involved 30 prosumers who completed 130 transactions amounting to almost 14,700 PAR (equivalent to the same amount or Argentinian Pesos) within a few hours.
These 2.0 markets represent the starting point of a community empowerment process, which after several months of hard work has allowed the organizations that make up the Mar del Plata Node to achieve their first goal. That is, to set in motion their community’s economic activity using their own money and without depending on the liquidity conditions of the economy and the banking system. In Argentina’s current context, this has made credit inaccessible for the majority of businesses and entrepreneurs due to its high monetary policy interest rate. But this milestone is only the first step toward. There is potential to provide all the network’s prosumers with greater levels of autonomy and resilience in the face of the hardships generated by the growing financialization of the national economy.