Henk van Arkel, CEO of the Dutch foundation Social Trade Organization (STRO) and coordinator of the European project Digipay4Growth, will be  paying a visit on 13 (to the School of International Trade, ESCI), 14 and 15 April to UPF’s Ciutadella campus. During his visit, he will meet different lecturers from the departments of Law and Economics and Business at the University, who are involved in the project in order to study the legal part and the economic impact.

The main goal of Digipay4Growth is the activation of local markets and trade, the generation of employment and the improvement of the competitiveness of small and medium-sized enterprises by means of a conditioned digital payments system (local currency). It is funded by the European Commission in the framework of the CIP (Competitiveness and Innovation Framework Programme) 2014-2017, under the leadership of the STRO Foundation.

The Digipay4Growth digital payment system is a tool which increases circulating capital liquidity and stimulates the internal demand, at the same time allowing the exploitation and optimization of underused productive capacities.

In Catalonia, in addition to Pompeu Fabra University, taking part in the project are Learning by Doing , an organizational consultant; Ubiquat Technologies, a company specializing in digital payments systems; Santa Coloma de Gramenet town council and the Berguedà Development Agency. On a European scale other entities of the public sector in Sardinia and Lombardy (Italy), the United Kingdom, Poland and Austria are participating.

The local currency will soon start to circulate in Santa Coloma de Gramenet

The project plans for the local currency to begin to circulate in a couple of months’ time in Santa Coloma de Gramenet. “A portion of some of the grants awarded by the Town Council will be paid in local currency. Later it is planned that a percentage of the remuneration of the workers of the Council may be paid in this currency, on a voluntary basis”, says Ester Oliveras, lecturer of the Department of Economics and Business at UPF, which will examine the economic impact of the project on the town, in terms of increased sales volume in small businesses, the creation of jobs and differences in the rate of circulation of money.

The lecturers of the Department of Law at UPF involved are Joaquim Castañer, Montserrat Ballarín, Marie Antonieta Fernández and Ester Marco, who are studying the legal regulations which must be taken into account in order to channel public spending, in the form of subsidies to entities or in payment of part of the wages in complementary currency. Also participating from the  Department of Economics and Business, in addition to Ester Oliveras, is professor Eduard Gironella.

A promoter of innovation in social trade

Henk van Arkel dedicates his life to contributing to creating a different monetary structure that provides better opportunities for the poor and for the environment. He is the founder and general manager of Social Trade Organization (STRO). This Foundation has become one of the most important organizations in the world in complementary currencies and financial innovations using technological networks, and has turned social trade into an increasingly active field in research, development and practical application.

Van Arkel is a generalist, both insofar as his education (trained in subjects ranging from the social sciences to geography) and his publications, which include environmental matters (1970s) the economy, money, and since the 1980s, philosophy.

He inspired the development of Cyclos, world leader in online mobile banking software for exchange networks. In addition, he developed the Social Trade Circuit method and several of his innovations are in use currently in different parts of Europe.