bankien

Bankien is a term used in discussions of alternative financial systems to describe a community-based currency and governance model that combines elements of local currency, mutual credit, and digital ledger technology. It is not a widely standardized term, and its exact definitions vary by project.

In the conceptual model, a local bank or cooperative issues Bankien tokens, which participants earn through reciprocal exchanges or community service, and spend within a defined local network. The unit is typically backed by a basket of local assets or by the promise of future economic activity, and recorded on a transparent ledger to ensure traceability.

Governance is usually participatory, with token issuance, redemption rules, and community projects voted on by members. The objective is to strengthen local demand, reduce leakage to external economies, and promote cooperative finance, while encouraging savings and responsible lending within the community.

Implementation varies widely. Some proposals emphasize digital wallets and smart-contracts; others maintain physical notes. Supporters argue that Bankien can increase resilience in economic downturns and foster social cohesion. Critics raise concerns about regulatory compliance, value stability, accessibility for marginalized groups, and the potential for misuse or financial risk.

See also Local currency, mutual credit, community banking.