I often find it quite difficult to explain Sardex. Even to highly educated investors and I understand their feelings since it took me literally months to understand it. It’s difficult to grasp since each time I explain how it works, pretty much anyone gets it. But at the end of my explanation the question always arised. “I kind of understand how it works, I just don’t understand why it does”. In this lecture (in Greece, which could benefit a lot from this experience) Peppe Littera, founder and CTO describes how and why Sardex works.
In a nutshell its a social currency that enables to build a sustainable and resilient local monetary system to support communities of trust. A system that can grow in a stable and orderly way, but which is also compliant to law and resilient to financial crisis. The founders came from Serramanna, the poorest area of Italy. They design the currency to address issues such as wealth and unemployment for their community.
This comes pretty evident when Peppe shows the social graph of transactions among member through time.