WHAT IS IT?
The REC (Real Economy Currency) is Barcelona’s social currency, a type of social or local currency. It is a citizen exchange system complementary to the euro, allowing transactions in a community between individuals, institutions and businesses that accept it.
Social currencies favour local businesses and the profits revert to the community.
The REC (Ɍ) is an exclusively digital currency and can be used with a mobile app.
WHAT IS IT?
The REC (Real Economy Currency) is Barcelona’s social currency, a type of social or local currency. It is a complementary form of payment to the euro, allowing transactions in a community between individuals, institutions and businesses that accept it.
Social currencies favour local businesses and the profits revert to the community.
The REC (Ɍ) is an exclusively digital currency and can be used with a mobile app.
THE CURRENT SITUATION
Large stores, supermarkets and e-commerce are having an effect on local trade, which is in decline. Without local shops streets become deserted, there is a greater feeling of insecurity and social relationships deteriorate.
THE IMPACT WE HOPE FOR
Money stays in the district and circulates locally
Local trade is reinforced and streets do not become deserted
Networks involving residents, businesses and institutions are reinforced, creating social cohesion
The Eix Besòs Pilot
The social currency has come about as part of the socially innovative B-MINCOME pilot project, in which part of public spending is channelled through the social currency in the Eix Besòs area. It operates in Ciutat Meridiana, Vallbona, Torre Baró, Roquetes, Trinitat Nova, Trinitat Vella, Baró de Viver, Bon Pastor, Verneda – La Pau and Besòs-Maresme.
The name
The inspiration for the name comes from the Rec Comtal irrigation channel, as both water and currency have been and are essential for the life of the city and its districts. The Rec Comtal has its source in the Besòs aquifer and for over a thousand years it has irrigated the Besòs districts, the plain and the city of Barcelona.
The history of the REC (Ɍ) is that of Barcelona and the city’s district.
The objectives
The objectives of REC are the following: to increase the economic and social vitality of the districts; further develop the local economy through the retainment of funds; improve relations within the local community; to support social and technological innovation and offer an alternative to the globally dominant financial and monetary system.
The symbol Ɍ
The symbol for the rec social currency is the letter R with a line to the left which combines the R with a + symbol. For everyday use the Ɍ character (Unicode U+024C), available in a wide range of fonts, can be utilised.
The Eix Besòs Pilot
The social currency has come about as part of the socially innovative B-MINCOME pilot project, in which part of public spending is channelled through the social currency in the Eix Besòs area. It operates in Ciutat Meridiana, Vallbona, Torre Baró, Roquetes, Trinitat Nova, Trinitat Vella, Baró de Viver, Bon Pastor, Verneda – La Pau and Besòs-Maresme.
The name
The inspiration for the name comes from the Rec Comtal irrigation channel, as both water and currency have been and are essential for the life of the city and its districts. The Rec Comtal has its source in the Besòs aquifer and for over a thousand years it has irrigated the Besòs districts, the plain and the city of Barcelona.
The history of the REC (Ɍ) is that of Barcelona and the city’s district.
The objective
To make it easier for money to remain in the area with a view to developing the local economy and relations between the local community and increasing the economic and social vitality of the districts. To support social and technological innovation and offer an alternative to the globally dominant financial and monetary system.
The symbol Ɍ
The symbol for the rec social currency is the letter R with a line to the left which combines the R with a + symbol. For everyday use the Ɍ character (Unicode U+024C), available in a wide range of fonts, can be utilised.
