Nesting

The credit commons is an open infrastructure for community currency groups to make multilateral exchange agreements. Those groups are private and voluntary associations of individuals who may invite others to join them. Thus newcomers could not automatically join a private group but could form their own group.

There could be many networks there which are not connected at all and there could be hierarchies of groups. For example all the time banks in UK could form a group to manage hours liquidity amongst themselves and Timebanks UK could be part of another group of all the national timebanking associations, also using the same unit of account, hours, which is the defining feature of timebanking.

At each level of organisation there would need to be a governing process comprising all its members. Similarly the business barter networks could have their own arrangements in the same credit commons without touching timebanking, or as long as exchange rate mechanism is agreed, it could touch timebanking.

Thus payments from user to another might be registered at several levels depending how far in network space, the payment is going. A payment to a timebank in another country would have to obey the balance limits of both groups concerned at each level.

The concept of nesting credit clearing systems has also been discussed in the International Journal of Complementary Currency research