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WIR Bank

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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.
Alternative currencies, monetary systems
Name
WIR Bank
Webseitewww.wir.ch
Details
Status of the projectAlthough 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 topologyNein
Single central authorityJa
Uses cryptographyNein
APINein
SprachenGerman, French, Italian
LicensePrivate
Founded1934
Founder(s)Werner Zimmermann, Paul Enz
OrigineSwiss
Wikipediawikipedia.org/...
HistoryWIR 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.
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2011-03-28 21:53:18
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