Phase B: Building – Piloting

Acknowledging that any project of the complexity of a currency will always require testing and improvements, this second phase is about the implementation of a pilot. To allow for enough time for execution and testing of all scenarios, depending on the rate of uptake and intended scale, a further six months to two years should be allocated for this phase. Here all project elements need to be fully developed, and the currency will actually be launched. 092 PEOPLE POWERED MONEY PEOPLE POWERED MONEY 093 PART 02 C/04 Stage 5: Building All operational elements now need to be set up for functioning. This includes the incorporation of an appropriate managing entity, signing of contracts and delivery against commitments. This stage ends with the launch of the currency, whether in a protected beta environment or publicly, with sufficient provisions for potential changes stemming from the next stages. Stage 6: Piloting Finally, the currency is in circulation. From here on, forward data-collection and monitoring of the chosen key performance indicator is crucial. During piloting, experience and feedback from participants and partners needs to be collected on a regular basis to understand the currency’s strengths, weaknesses and developments over time.