It came from the 10 Besós neightbourhoods at the end of Maig 2018. 

It is a citizen exchange system that allows transactions between people, entities and businesses that accept it.

• To buy and sell among them
• Only in a specific area, for production, for work and proximity shopping
• Complementary to the Euro

The rec is an exclusively digital currency, can be used with an app.

Rec, Social Currency. Inspired by the Comtal Irrigation Channel that is born from the Besòs aquifer. For more than a thousand years it has fertilized the Besòs neighborhoods, the plain and the city of Barcelona. He has provided the mills with strength, he has watered the orchards, given service to the craftsmen and the industries, driving the water to the inhabitants, to the laundries, fountains and gardens.

The history of the Comtal Irrigation is the history of Barcelona and what are now its neighborhoods.

The rec means “Real Economy Currency”, a currency at the service of the productive economy. In short, a social economic resource at the service of people and local business.

The social currency Rec symbols’ is a letter R with a left trace that allows the simultaneous reading of an R and a + symbol. For its daily use the character Ɍ can be used (Unicode Uno + 024C), is available in a wide variety of fonts.

The rec is part of the B-MINCOME social innovation pilot project through which a part of public spending on social money is channeled in the area of the Besòs Axis of Barcelona. Specifically, in the neighborhoods of Meridiana, Vallbona, Torre Baró, Roquetes, Trinitat Nova, Trinitat Vella, Baró de Viver, Bon Pastor, Verneda – La Pau and Besòs-Maresme.

The social currency is born from the merger between initiatives of the city’s organizations and Barcelona’s City Council’s commitments. It is materialized in the B-MINCOME urban innovation pilot project, the objective of which is to promote actions to combat poverty in the Besós Axis (Barcelona). The B-MINCOME is co-financed by the EU’s Urban Innovative Actions program and it is leaded by the Social Rights area of Barcelona City Council.

To develop the B-MINCOME, the City Council is collaborating with other collaborative organizations: Young Foundation, Novact (International Institute for Nonviolent Action), Ivalua (Catalan Institute for Public Policy Evaluation), IGOP-UAB (Institute of Government and Public Policies of the Universitat de Barcelona) and the UPC (Universitat Politècnica de Catalunya), which are responsible for the design and the monitoring of the various active policies. Specifically, Novact is the entity that promotes and manages the social currency.

The project is based on the values of a social currency, to be a means of digital payment complementary to the euro, with a social orientation and ethics at the service of the needs of the population (community currency) and the strengthening of the economy of proximity (local currency). It is, obviously, a currency complementary to the euro, which wants to avoid the risks and uncertainties that derive from globalization and financial speculation.

Shopping centers, large supermarkets and online sales (e-commerce) are affecting local businesses which are in decline.

The streets in the neighborhoods, without local businesses, get deserted. The feeling of insecurity increases and social relations decrease. Through the rec, the money stays at the area to promote the economy and the proximity relations, the neighborhoods are economically and socially vital.

This initiative aims to promote the empowerment of citizens in a topic of general interest, how is money created and the impact on our neighborhoods. Promote that the neighborhoods are economically and socially vital, favoring that the money stays in the area to facilitate the economy and proximity links. Betting on social, technological innovation and offering an alternative to the globalized economic and monetary system.

Every time we pay with recs we are supporting, we are voting, the economy of proximity, and therefore a real economy, more socially, economically and environmentally sustainable. In addition, we are helping to consolidate the recs network.

The more money circulates, the more the collective local wealth increases. It allows the citizens to recover a certain control of the currency through participation in the “Taula de Canvi” generating the public capacity, the citizenship, monetary creation. In short, the Social Currency seeks the benefits of people and the environment, and not only the profit of big capital.

The social currency has several advantages for each type of user:

Individuals:

• It is a safe, instant and cost-free form of payment: payments to businesses, organizations or other people have no cost and are made easily, safely and quickly.
• Allows access to offer: the map of the rec (Ɍ) app shows the shops in the neighborhood that have exclusive offers.
• Revitalizes the neighborhood: money circulates in the neighborhood, fosters local occupation and economically and socially supports trade, organizations and projects of proximity.
• It promotes the real and responsible economy: a sustainable economy at a social, economic and environmental level. The recs do not go to tax evasions countries.

Business:

• Multiply billing: the recs only circulate among the traders of the territory attached to the network.
• Make your business known through the rec app and attract more customers.
• Customer loyalty with offers: the rec mobile app allows to publish offers that users can view and approach the establishment.
• It is easy to spend: it allows you to buy goods and services from any company that accepts it.
• It’s free: during the pilot phase, using recs has no cost, its benefits add up.
• It is an innovative system: it places the business as a pioneer in social innovation and increases its notoriety.

Organizations:

• It favors the social life of the neighborhood: it generates social cohesion in the neighborhood through the relations that are born with the rec network.
• Reduce costs: fees or activities are free of charge and are easy, safe and fast.
• Allows for the compensation of trainers or professionals: to pay professional services or training in an agile, safe and without costs.
• It is a new channel of communication: it allows the organization and activities to be made known through the rec app.
• Loyalty of the member: it favors the loyalty of the partners through the publication of promotions in the app. It is an innovative system: it situates the entity as a pioneer in social innovation in neighborhoods.

In the pilot phase of the project, the rec is issued by Novact through a monetary authority that guards the euros and guarantees the process. After this initial phase, the currency will be governed by a citizen entity “Taula de Canvi” that will manage the recs with the support of Novact and the Barcelona City Council.

It is a social currency; therefore, it is governed by the citizenship. Initially the currency is governed by Novact with the aim of constituting a governance space, the Lead Group of the “Taula de Canvi”, an organization formed by citizens committed with social and commercial organizations of the neighborhoods, group of experts, with municipal support.

Novact will promote an organization, with a solid base of citizenship and experts, to launch the citizen currency in the pilot project of the Besòs Aix and finish the B-MINCOME, having the ability to extend the management of the currency to the entire city.

It is formed by three sectors:

Economic sector:

• Groupings of market standes
• Traders associations
• Organizations of the cooperative, social and solidarity economy

Social sector:

• Neighborhood Associations
• Social and cultural organizations

Municipal sector:

• Service addresses to the people of the 3 districts
• Social rights
• Services Management of cooperative, social and solidarity economy and consumption
• Barcelona Activa – Proximity development
• Trade services/ markets management
• Presidency and Economy

The main functions of the Lead Group of the “Taula de Canvi” are:

• Encourage the launch of the social currency in the pilot project of the Besòs Aix area and do the follow-up and continuous evaluation
• Prepare its own operating regulations as a lead group
• To become an entity with the most appropriate legal personality (association, cooperative, foundation, etc.) that can assume the management of the social currency in its extension to the city
• Provide for self-financing modalities

The model of organization that is proposed for the rec as a social coin of the Besòs Aix area is to promote collective intelligence integrating horizontality (legitimacy) and verticality (effectiveness), in a framework of total transparency. The decisions in each area always seek the maximum consent (agreement with the minimum of objections).

For the years before the start of the pilot project, the funding comes from the European project B-Mincome (EU). But it will be supported by the contribution of citizens participating and with the resources generated by the same use of the social currency.

It is a digital currency, therefore, it only works through the “Rec Barcelona” mobile app or the rec card with a QR code. To be able to use it, you need to download and register in the app.

To become a person or user of the rec you must download the app “Rec Barcelona” in the Play Store, register and accept the conditions of use.

Private user: To get recs you have to be registered to the Rec Barcelona mobile app, press the button with the rec (R) symbol that appears on the main screen, to the right of the balance. Then write the amount of recs you want to change, select a trade from the list, press the bank card where you want to withdraw the euros that will be converted to recs and enter the PIN code to confirm the operation.

Shops: shops can receive recs for goods or services and, in addition, can request to be exchange point of euros to recs. If they are exchange points, they will receive an advance in recs from the managing entity because private users can exchange euros for recs. In addition, traders can also purchase recs.

Circuit of creation and recs creation: The businesses that adhere to the recs network and that are activated as an exchange point, each month will receive a few advances of recs facilitated by the managing entity (Novact). The individuals that request it will exchange with these shops of euros to recs.

Once individuals have recs, they can spend them buying goods and services at local businesses that accept them. In turn, as businesses have the recs that individuals spend, may use them to purchase goods and services between them to expand the use and circulation of recs.