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Frequently Asked Questions


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Where do the businesses get the cw$ that they donate?

By virtue of their ability to earn cw$, businesses can issue cw$ into circulation by donating cw$1000/fte (full time equivalent worker) and paying fees to the cc project and for the smart card equipment. It is simply an entry in their account ledger with the community currencies accounting service (ccas) that amounts to a line of credit in cw$.

Is it legal?

Yes, very. The government expects to collect taxes on any payment made in cw$...gst, pst, income tax.

When a business commits to donations and payments in cw$, it is undertaking a legal obligation to provide goods and services for cw$. However, the business sets its own terms, conditions and rate of acceptance.

What is a community currencies accounting service (ccas)?

A counting house which provides cc transaction recording services similar to a bank or credit union. Transactions are phoned, mailed, faxed, and interneted to an office where busy beavers enter the information into a database, a primitive multi-currency LETS software which puts it all together and generates account statements on demand that get delivered to account holders.

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