Fairo Rates

Unit of measure for purchasing power with consensus based exchange rates

We have a bi-weekly open assembly on the second and fourth Monday of the month at 18:00 in the Fairo Telegram group where we look for consensus to adjusting the Fairo rates. You are invited to participate.

Fairo rates may be used voluntarily in the web-of-trust of the translocal fair economy.

1000 Fairo

Units of purchasing power

1 month

of basic cost of living

1 FairCoin

Fair ecosystem currency

1.2 Fairo

Units of purchasing power

1 Fairo

Unit of purchasing power

0.833 FairCoin

83'333'333 Fairero

What is the Fairo?

The Fairo is a unit of measure for purchasing power. The value that 1 Fairo represents is equivalent to one thousandth of the mean future basic cost of living for one month, which was the purchasing power of 20 FairCoin at the end of the year 2016.

Who creates Fairo?

Nobody. Since Fairo is a unit of measure, that would be like creating grams or meters. Fairo is a quantity of a medium of exchange or store of value, not the medium of exchange or store of value itself.

What is FairCoin?

FairCoin is the proof-of-cooperation crypto-currency that serves as medium of exchange and store of value in the fair economy.
https://fair-coin.org

What is the fair economy?

The fair economy is a global grassroots movement that embraces intergral revolution, peer-to-peer culture and hacker ethics to make the transition to a new world, reducing as much as possible economic and social inequalities among human beings, and at the same time contributing to a new global wealth, accessible to all mankind as commons.
https://fair.coop

What purpose does the Fairo serve?

  1. It serves as a stable price indicator.
  2. It makes no reference and has no dependency on any money created by central banks.
  3. It is not affected by deflation or inflation of the medium of exchange.

What are Fairo rates?

The Fairo rates are conversion rates for different mediums of exchange, adjusted for the inflation and deflation since year-end 2016. Fairo rates are currently set based on FairCoin.

Why are Fairo and FairCoop rates set above the value of FairCoin outside the fair economy?

They account for the value of the level of trust in the economic reality for different tiers of the local, translocal and global fair economy. At each tier, they help to keep value from being extracted from the fair economy by external trading partners.

How are Fairo rates set?

The conversion rates for Faircoin and the Swiss Franc are set by periodically reviewing and adjusting these rates to deflation and inflation based on consensus in an open assembly of all Fairo stakeholders.

How is the Fairo used?

Most commonly, Fairo is used to measure the quantity of FairCoin to be transfered in a trade transaction. It can also be used as reference when making transactions with another medium of exchange such as a mutual credit system or other local and social currencies.

Are Fairos backed with FairCoins, Euros or Swiss Francs?

When making a transaction in Fairo, you back them with the medium of exchange, such as FairCoin or some other form of ledger. Such mediums of exchange, like a paper note, can then be backed by assets.

What is a Fairero?

Fairero is what we call the equivalent of a Satoshi in FairCoin, the smallest fraction of a FairCoin.



Exchange rates based on FairCoop's consensus Euro/FairCoin rate for our global fair economy:

Currency 1 FairCoin Value in FairCoin
EUR--
USD--
CHF--
GBP--
PLN--
MXN--
DKK--
NOK--
SEK--
SYP--


Find out more: https://fair.coop



Current fluctuating FairCoin value outside the FairCoop web-of-trust:



Find out more: https://fair-coin.org