Fundraising news, ideas and inspiration for professional charity fundraisers

Global social currency Spotlight to add financial dimension to promoting social good

Global social currency Spotlight to add financial dimension to promoting social good

, the Geneva-based social network for social good has created Spotlight,”the first global social currency”. It is designed to monetise social network interactions with the aim of promoting economic inclusiveness and fairness.

The currency will be circulated among the Horyou community, so it can be transferred to another member, whether individual or organisation. It will have a a daily exchange rate defined by its supply and demand, which will be published daily on Horyou’s website.

Yonathan Parienti, CEO of Horyou, said:

“It will be the first time when promoting social good on , sharing positive news and actions can be materialised into an impactful financial dimension”.

Horyou members will be able to buy, transfer and earn Spotlights. They will earn them based on how participative and communicative they are on the platform.

Why Spotlight?

Spotlight has been created to “address the challenge of… a fair capital circulation”. It is designed to avoid speculation by focusing on enhancing social interactions.

Parienti, who has a background in , explains:

“Spotlight is a way to promote meaningful circulation of money.

“Trillions of money are treasured in bank accounts with no activity related to the economic cycle nor value creation. Spotlight offers an alternative solution, stimulating people to convert money into a social currency and thus benefit the whole community.”

It is not designed to substitute but to complement other currencies.

Financing Spotlight

Spotlight is funded by its individual buyers as well as Horyou partners, such as CSR firms and corporate foundations. While supporting the community with their paid fee membership, partners will share their own social initiatives and use Spotlight directly to fund innovative projects, artists and causes.

It is “backed by real currency”.

Parienti believes Spotlight will “benefit over 300 million people on all continents by end of 2018”.

About Horyou

Social network Horyou “promotes meaningful and global interactions amongst its adherent organisations, members and personalities”, using technology, innovation and social entrepreneurship advocacy.

 

 

Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world's first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp.

Get free email updates

Keep up to date with fundraising news, ideas and inspiration with a weekly or daily email. [Privacy]

* We do not share your email or personal details.
" />