History of WIR Bank

Last update 2011-03-28 21:53:18 Creation date 2011-03-28 21:14:56
  • Editor
    public
    Viewer
    public
    Posted 2011-03-28 21:53:18 by HasardDuJour
  • Mode
    70
    Name
    WIR Bank
    Viewer
    unlisted
    Editor
    hasarddujour-f4dmks8
    Category
    finance
    Wikipedia
    http://en.wikipedia.org/wiki/WIR_Bank
    Website
    http://www.wir.ch
    Description
    The WIR Bank, formerly the Swiss Economic Circle (GER: Wirtschaftsring-Genossenschaft), or WIR, is an independent complementary currency system in Switzerland that serves small and medium-sized businesses. It exists only as a bookkeeping system, with no scrip, to facilitate transactions.
    Founder(s)
    Werner Zimmermann, Paul Enz
    Founded
    1934
    History
    WIR was founded in 1934 as a result of currency shortages after the stock market crash of 1929. Both Zimmermann and Enz had been influenced by German libertarian economist Silvio Gesell; however, the WIR Bank renounced Gesell's "free money" theory in 1952, opening the door to monetary interest.
    Origin
    Swiss
    Status of the project
    Although WIR started with only 16 members, today it has grown to include 62,000, among whom is traded approximately CHF 1.65 billion annually (as of 2004). The available money supply (currency code CHW) was 839 million equivalent Swiss francs (as of 2005).
    Peer-to-peer topology
    no
    Single central authority
    yes
    Uses cryptography
    no
    API
    no
    Languages
    German, French, Italian
    License
    Private
    Posted 2011-03-28 21:14:56 by HasardDuJour
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