Grassroots Economics Foundation

Almost a decade ago— when bitcoin was mostly a niche discussion topic on cryptography forums—Grassroots Economics Foundation was challenging the idea that banks should have a monopoly on currency.

- Amber Baldet

G Sector _ Community Development

Location _ Nairobi, Kenya

Founded _ 2010

The Kenya-based nonprofit began helping small communities create their own currencies to address what happens when economic instability in a national currency creates chaos in local markets. By bringing together small businesses to build a web of trust, such community currencies are able to foster microloans, which ignite trade and end up benefiting all. The national currency is still vital for larger investments and savings, but the day-to-day use of money is separated from crises caused by distant political decisions.

People use these currencies to pay for food, education and health care.

“We operate under the fundamental assumption that the goods, resources and human capacity exist in these communities—the only thing that’s missing is money,” Grassroots co-founder Will Ruddick says.