CommonsHood is a “wallet app” designed to streamline and empower interactions among participants in the local economy.CommonsHood is a blockchain-based wallet application. Through an intuitive interface, it allows anyone to create and exchange digital tokens representing local values, resources, and financial tools. Its goal is to support social, collaborative, and sustainable economies, as well as participatory processes in local communities, by simplifying and augmenting stakeholder interactions.
The Project
CommonsHood
Sustainable Development Goals
CommonsHood aims to contribute to several UN Sustainable Development Goals (SDGs) outlined in the 2030 Agenda for Sustainable Development.
Goal 10
Reduce inequality within and among countries.
Goal 11
Make cities and human settlements inclusive, safe, resilient, and sustainable.
Goal 12
Ensure sustainable consumption and production patterns.
Inspiration
Adopt and adapt CommonsHood within your community to incentivize virtuous behaviors, promote financial inclusion, and enhance local economic sustainability. Foster creativity and awareness to drive a local multiplier effect.
Blockchain Technology
Enables anyone to securely and transparently create, distribute, or exchange digital assets of any kind as tokens (fungible and non-fungible – NFTs) and to program transactions structured to encourage collaboration. Every transaction is securely and transparently recorded on the blockchain. A token can only ever have one owner at a time.
Tokens for Local Economies
CommonsHood focuses on local communities at the neighborhood, city, and town levels. Tokens created within the CommonsHood wallet are tailored to support diverse social economies at the local scale, including recognition and incentive systems, crowdfunding and collective purchasing, time banks, libraries of things, social welfare and financial inclusion tools, local business promotion systems, and community currencies.
Towards an Internet of Value 2.0
While “Internet of Value 1.0” refers to interoperability across different blockchains to transfer value instantly without intermediaries, Internet of Value 2.0 seeks to go further—empowering anyone to issue and circulate novel types of tokens representing multifaceted dimensions of value.
Transparency and Funding
The application was co-designed and tested through several European projects: CO3 (H2020), CO-CITY (UIA), NLAB4CIT (Smart Local Administration), and CORPUS (DUT Partnership). This project has been funded by the Italian Ministry of University and Research (MUR) within the context of the Driving Urban Transitions (DUT) Partnership, co-funded by the European Union.
Commonshood
Simple, secure, innovative: CommonsHood is the wallet app that enables networks and communities to represent and exchange values without intermediaries, mitigating risks such as human error, third-party fraud, and disputes. Tell us about your context, and we will help enhance your community interactions!
