DigiPay4Growth= Digital Payments channeled through a business network to stimulate local/regional economic Growth.
The DigiPay4Growth project applies an innovative Digital Payment System, Cyclos, to channel inflows of purchasing power from various sources towards SME’s in the regional/local economy. DigiPay can be used to:
- Condition (government) expenditures in order to have a positive increase of the local /regional multiplier effect of such expenditures.
- Provide counter cyclicalcredit to SMEs, called Social Trade Credit. Those economic actors that benefit from the inflow of credit within a specific supply chain, contribute to the cost of credit risk.
This purchasing power is “trapped” locally for a specific amount of elapsed time so that it creates economic activity and income for local businesses while it remains in the network of businesses .
Digipay4Growth will demonstrate the use of Cyclos in 3 pilot projects:
- Catalonia (Spain): In Digipay4Growth Catalonia the municipality of Santa Coloma de Gramenet and the county Berguedà implement a the DigiPay method to channel public expenditures.
- Bristol (UK): In Bristol the current Bristol Pound scheme will introduce credit to the Bristol Pound business members, called Bristol Prospects.
- Sardinia (Italy): In the region of Sardinia the Regional Authority of Sardinia works together with Sardex to introduce and test the DigiPay method in their local context.
Read more about Digipay4Growth on http://www.digipay4growth.eu/