The essence of a CAV is to develop a contractual promise that can be offered and exchanged. Ex: If you create a CAV, say called HUGS you could specify 1 HUG is redeemable as payment by either by you or an association you represent for 1 hour of coaching. Another CAV called WAVE could be redeemable as payment for $10 USD of your shops vegetables. Some CAV issuers will sell their CAVs while others will give them as gifts, loyality points or exchange them in-kind. Note that anyone holding your CAV has a right to trade them to someone else or redeem them as payment for your goods or services.
The CAV's ultimate aim is community improvement. When planning it, listen to everyone that may be effected by it.
Here's the process for creating a CAV:
- About you: : Who's the Issuer creating and publishing the CAV?
- Naming & Purpose: What's your CAV's name and what can it be redeemed for?
- Valuation & Amount: How much is the CAV worth and in what terms (e.g., USD or Eggs)? How many CAVs will you produce and what's their total worth?
- Expiry: When do CAVs expire, and where are they renewed?
- Customization: Any special features for your CAV?
- Finalization: Here, you'll sign and publish your CAV on the blockchain.
Warning
This guide and lessons learned described in our documentation here are based on practical experience in Kenya. This does not constitute financial advice and there are no warrneties implied. Use at your own risk. Also note that by issuing a voucher you are obligated to redeem the voucher as specified in this process.
Grassroots Economics Foundation has no liability or obligation in relationship toward the usage or access to your voucher. You are publishing your voucher on the CELO blockchain which is public and all transactions and usage of your voucher will be transparent to the public. All information you enter on this website / tool should be considered public. Do not enter private or confidential information. Only enter information that is crucial for people to know about your CAV and how to contact you.
If you are considering issuing or using a CAV, it is important to weigh the risks and benefits carefully. Here are some additional things to keep in mind about CAVs:
- Please check within your legal jurisdiction for local regulations.
- They are only guarenteed to be accepted by the issuer (you or your association) and may not be accepted by other businesses or individuals.