The use of a community currency helps to encourage the cyclical use of capital within a community. By using OAK, money can be generated, kept, and grown within Oakland.
OAK cuts big banks and financial institutions out, keeping more money in local businesses. Visa, Square, and others often take ~1/3 of profits in fees.
We’re building the OAK currency system by leveraging blockchain technology for efficiency, security, and community independence.
We utilize the latest digital tools to avoid the burdensome costs associated with paper vouchers, counterfeit risks, or plastic cards.
Every OAK created corresponds to an underlying asset that secures its value. Currently, that asset is a US dollar held in a bank account.
We plan to secure OAK with various assets in the future, inspired by community currencies that use a mix of assets and property like land trusts and cooperatively owned businesses.
Sign up to be contacted about project updates and community events.