Value Exchange Agreement

= "links an individual’s work to a networked governance regime that connects the value exchanged by each individual to an off-balance-sheet record (a debt / sweat equity or ‘pay it forward’ labour / timebanking), a percentage of shareholding based on value and the ability to share dividends". [1]

Description

Robert Pye:

"We have created something called a value exchange agreement (VED). It links an individual’s work to a networked governance regime that connects the value exchanged by each individual to an off-balance-sheet record (a debt / sweat equity or ‘pay it forward’ labour / timebanking), a percentage of shareholding based on value and the ability to share dividends. There is also a debt-into-equity-bond possibility for the group to take in external cash at zero interest that will convert to shares and a value network monetisation system. Some of this is described in this (not public) powerpoint document. Another key element is here which talks about the need for an open-data individual ProFile.

We have modelled this VED in salesforce, Googledocs and elsewhere, and it works for us internally and increasingly on our projects; we run the whole Team Army charity from salesforce. The VED is still being refined. And of course we want to build an open-source community / linked open-data layer / personal open-data profile. But all of these are really just tech enablers for turning network membership (think P2P) into new economic systems of collaboration and exchange. They need to plug into real-world systems of work which need real organisations with new values inside. Not old values." (http://epp.ethosvo.org/profiles/blogs/can-you-help-crowd-source-the-ethos-foundation)