This is part one of a two-part series with Enric Duran, leader of the Faircoin project and founder of Fair Coop. Faircoin is a fascinating experiment in cryptocurrency: a LETS-style community currency which also functions as an exchange-traded token. With it, Duran’s Fair Co-op wants to power an international co-operative movement based on ideas and principles emerging from the Catalan Integral Co-operative: peer-to-peer organization, and horizontal governance by consensus.
We discuss how the Fair Co-Op project co-opted (!) the original Fair Coin for its own use; trust and reciprocity in small communities and how crypto can extend this into the wider world; and just how to think about the ‘ecological cost’ of Bitcoin as a means to create a truly trustless global exchange network.
Enric Duran raised around four hundred thousand Euros in 2008 by creating multiple overdrafts with fake solvency, and then invested this money into building the cooperative movement in Spain in 2008, leading to the creation of the Catalonia Integral Cooperative movement in 2010. Since 2014, Duran’s focus has been on working with FairCoop to generate the alternative ecological and post-capitalist ecosystem that FairCoin is based on.