Announcing an Increase to $2.50 in Value

Announcing an Increase to $2.50 in Value

Breadcoin Foundation, Ltd. announces that the value of its food token will increase to $2.50 on January 1, 2022. This is the first increase in the value of the token in five years. Accepted at more than 60 participating locations in DC and Baltimore, the Breadcoin food token provides food to those in need with the dignity of choice. The initial value of $2.20, in 2016, has stayed constant as food costs remained relatively steady between 2016 and 2019. Since the beginning of 2020, food costs have increased more than 9 percent. The change in the value of the token reflects the change in the cost of food. 

“Low-income and fixed income families in DC and Baltimore are experiencing higher food costs. The change in the value of the token ensures families can eat, and participating businesses can cover their higher costs,” says Breadcoin President and Ph.D. Economist Scott Borger. “Breadcoin provides a way for underserved communities to adjust to higher food costs.”

Breadcoin provides an inflation-adjusted token to address these higher food costs. It uses a variety of different measures to adjust the value of the token including the U.S. Bureau of Labor Statistics’ Consumer Price Index for Food in U.S. Cities. The index below was adjusted to have a value of 220 in 2016 to demonstrate the need to change the token value to $2.50.

Message from the Founder

Message from the Founder

Breadcoin’s founder on why Breadcoin was created for such a time as this:

Scott Borger is a Ph.D. economist who in 2016 partnered with Cary Umhau to create the Breadcoin food token that is feeding the community, supporting local food vendors, and providing loans to businesses that might not otherwise have access to credit.

In this video, Scott talks about how we can respond to the COVID-19 health emergency through a community response to hunger.

Breadcoin Microloans

Breadcoin Microloans

Investors help vendors grow their businesses with low-interest loans that are paid back in Breadcoins.

A unique feature of Breadcoin is our microloan program. We match investors with needs and desires that our vendors have to grow their businesses.

Vendors with whom we’ve established a relationship are eligible to apply for these micro loans. Preference is given to businesses in low-income areas where food choices are often more limited; that is where we are focused anyway. We also appreciate being able to create opportunities for those who would find traditional avenues for lending inaccessible or burdensome.

Our Breadcoin investors receive their money back with interest, paid in Breadcoins. This is an ideal scenario for those who are committed to giving over and over — helping a business grow and then feeding many more people with the returns on that investment.

Contact Scott Borger to learn more about this loan program.

 

Photo: grwview photography

Restorative Giving

Restorative Giving

Breadcoin is an organization established to return an upside down financial system right side up through the issuance of a giving token. Breadcoin intends to fuse global finance with the character of local barter and usher in a new era of restorative giving that meets people’s needs. It refocuses the foundations of finance toward feeding people and returns basic value to a medium of exchange.

If you believe in a network of people committed to the basic needs of people, to the distribution of daily bread, and to the idea of restorative giving, we ask that you join the Breadcoin movement. Volunteer within the distribution network; sign up donors and vendors within your community; invest in spaces that accept Breadcoin (e.g., food courts, bakeries, or pop-up restaurants); or commit to receiving an automatic allotment of tokens to give to those most in need.

We live in the upside down world of global finance, where interest rates turn negative and central banks purchase corporate bonds and equities, where policymakers concern themselves with global liquidity more than with the daily sustenance of their people, where lower long-term interest rates shift the incentive to save and untether the value of assets. It is a world where the resilience of the economy depends on household consumption. The same households that have been left without a capital cushion. A world where management protects themselves and their bottom line by ensuring their employees’ jobs are not protected. On which side of the line do you stand? Will your community fight for the hungry or the fed?

Photo: Yuri Borovsky