Welcome to the first Trustlines Update! A lot of exciting things are currently happening in the project, so we decided to introduce a new blog post format to keep you up to date. In these bi-monthly articles, we will be sharing a summary of various topics like ecosystem changes, development progress, chapter leader news and more.
In March and April, we successfully finished the third validator auction, launched a new app version, started a new pilot project in Rwanda and our core team got even bigger. Let’s dig into the details!
As you may know, the Trustlines Foundation offers grants and resource support to our pilot projects around the world. There are still a couple of spots left, so if you would like to become a chapter leader or use Trustlines for your project, apply here.
Our validator auction was successfully finished. However, the validator set change was not as smooth as expected. You can read about what went wrong and how we solved these issues in our previous blog post.
We launched a new 1.17.0 version of the app with multiple updates. The passphrase screens have been reworked, the fees can now be easily viewed, and the network slider in the contact details is now replaced with the same currency picker as on the dashboard.
The concept of People Powered money has proven to be an excellent alternative to traditional payments. That is why the Trustlines ecosystem is constantly growing. We currently have pilot projects in Germany, Venezuela, and Rwanda, and we are onboarding more. With over 5000 target users within these projects, we are getting valuable feedback and making our alternative financial system accessible to people in different parts of the world!
The following use-cases are being implemented and tested within our community: Bill splitting, Time Credits, People's ATM, Gift Vouchers, Community Currencies, and partly Circular Economy. You can read about all these concepts here.
The project in Venezuela is actively growing and last week they launched an Instagram account! They already started executing a social media outreach campaign with educational content in order to promote Trustlines and explore partnership opportunities. Besides, they are now conducting research and planning activities to execute pilots in different communities across the country. One of the major findings of this research is that small businesses have difficulty giving change for small purchases paid in cash, so they are giving their own credits on a piece of paper with a seal or a stamp and the amount owed. Trustlines can make this process much easier and faster.
Besides, the project is currently designing the first pilot trial in alliance with The Amondi Network. Amondi is a local networking community of entrepreneurs in Venezuela's major cities, which also serves its purpose as a geo-based marketplace.
Maingold is the first digital community currency supporting local SMEs in Frankfurt by encouraging citizens to spend their money with more solidarity and sustainability — using a democratic currency created by people for people.
Maingold is our first local currency project. We are delighted to let you know that they were accepted into the Social Impact GmbH and ING Diba scholarship programs. They are currently approaching local stores that might take part in the first pilot testing. The project has a customized version of the Trustlines app with a slightly different general setup, its own currency, and some new features.
The Maingold team is invited to our next community call to tell their story and explain the use case. You will be able to post your questions before the call. More details to follow shortly.
This project is at an early stage. The main focus remains on testing hypotheses about the local community. The chapter leader is currently carrying out research and identifying the most suitable use-cases. If you are from Rwanda and have some ideas on how Trustlines can be used there, you are very welcome to share them with us via our contact form on the Trustlines Network website.
Andreas participated in the podcast where he talked about the concept of financial inclusion and the role of Trustlines. Listen to it here and share your thoughts and feedback.
In May, we are planning to participate in the European Social Economy Summit — a digital conference broadcasted from Mannheim. We will share more information on our social media platforms shortly. Let us know if you will be there!
The main focus of the project remains on improving the app and bringing People Powered Money to more regions. We are always looking for new people to expand the network. If you would like to become a chapter leader, onboard your friends, or use the app in your community, do not hesitate to reach out to us on the Trustlines Forum or via the contact form on the Trustlines Network website! Don’t forget to follow us on Twitter and LinkedIn, as well as join our community-driven group on Telegram!