Updated: Jun 15, 2022
Community wealth building refers to mechanisms that enable community-led investment decisions, and generate revenues from community-based assets. Why do we need this ? Traditional economic development practices and developer-led initiatives are failing to address the economic challenges of our time.
Community Wealth Building is a new people-centered approach to local economic development, which redirects wealth back into the local economy, placing control and benefits into the hands of local people. Local in this sense could be regional and/or endemic to a group of people across the globe with common attributes.
At the Cordial World Foundation, our attempt to build a decentralized human knowledge ecosystem, is an example of mechanisms that can accelerate the democratization of capitalism. Everybody should have the opportunity to unlock and benefit from the bounty of the 21st century knowledge economy.
We aim to do so by increasing access to human lived experience and the value of knowledge created through both personal insight and people in collaboration via an open sourced platform.
How would this work? In partnership with Crystalisr, a community and business growth platform for South London, we aim to connect the genuinely inquisitive with the lived-experience of the genuinely verified across government, business and local residents. This will increase the value of the knowledge economy and unlock human capital. We will build a diverse and inclusive ecosystem in which multiple perspectives of lived experience, local insight and deep expertise, can be owned and shared by choice, for fair reward.
This will develop the reputation of those who share and enhance decision making for those who inquire. Imagine the number of retired people in various fields that possess industry knowledge and experience that have nowhere or way to be fairly rewarded for what they know.
Here’s a good example: With what we’re building at Cordial World, a retired community of manufacturing experts could work together to create bundles of information. This could help new entrants with professional development in a magnitude of ways and create new revenue streams for themselves. The result could prevent people from being subject to the cons of austerity.
This trade of knowledge is a resource that is yet to be tapped into fairly. Through the use of AI and our launch of our DIAL utility
tokens, we aim to build this ecosystem/platform and deliver a minimum viable product that can be beta tested before an official launch.
Keep an eye out for further details regarding how we intend to use AI and Utility Tokens to build our knowledge ecosystem.