Beneficial Intelligence for a Stronger Community (BISC): A New Era for Co-operative Business Development

I came away from this year’s Cooperative Congress in Birmingham having realised that it is time to commit to writing what a Platform Cooperative that serves the community, should look like. So here it is.

The Beneficial Intelligence for a Stronger Community (BISC) system is the name we are giving to a social finance platform designed for co-operative business development. Combining the legal structure of a Community Benefit Society (CBS) registered with the Financial Conduct Authority with cutting-edge digital token technology, BISC aims to commercialise the social value of community to deliver significant investment returns.

The Structure of BISC

Community Benefit Society

At the heart of BISC is the Community Benefit Society, a consortium of providers specialising in regeneration, communications, and technology. This consortium will serve a national market through a proprietary network of affiliates. The value creation process turns waste into wealth by unlocking the economic and social value of co-operative business practices.

Tokenisation for Value Creation

The voluntary work involved in developing the BISC platform network is measured before being tokenised, allowing collective benefits and joint savings to be commercialised via an eCommerce trading platform that packages and promotes co-operativism . Savings, in the form of a token dividend, are distributed back to members as a financial investment that funds further growth. The tokens, called Community Benefit Tokens (CBTs), quantify the work needed to develop and maintain the platform, store the value of that work so that through their sale, can be used to make payments.

Membership Structure

BISC members are categorised as follows:

• Issuer Organisations: Charities and good causes that organise and coordinate volunteer activities, validating and publishing proof-of-work claims.
• Redeemer Organisations: Entities like food stores and bus companies that back the value of CBTs with their excess stock and spare capacity.
• Supplier Organisations: Technology and service providers responsible for developing the platform and expanding the network.
• Supervisor Organisation: Oversees community leaders in issuing CBTs, maintains business standards, and manages the value of the tokens.

Technical Functions of the BISC Platform

The BISC platform offers several key technical functions:

• Market Access: Provides access to various markets.
• Market Data: Supplies valuable market data for informed decision-making.
• Facilitating Trade: Simplifies the process of trading.
• Settlement and Payments: Manages financial transactions smoothly.
• Training and Education: Offers training programs for skill development.
• Risk Management and Accounting Services: Provides risk management and financial accounting services.
• Dispute Resolution: Resolves conflicts efficiently.

Principles of the BISC Platform

Democratic Governance

• Member Ownership: Members own the platform on a one-member, one-vote basis, ensuring equal participation.
• Elected Leadership: Leaders are elected by members, promoting transparency and accountability.

Shared Revenues

• Revenue Distribution: Revenues are distributed among members based on their trading contributions measured in CBTs.
• Reinvestment: Part of the revenue is reinvested into system and network development.

Technological Infrastructure

• Digital Platform: The core of BISC is a digital platform offering membership, payment, and rewards services, as well as facilitating communication and collaboration.
• Software Strategy: BISC is technology agnostic, exploring options for open-source or proprietary software.

Economic Participation

• Member Contributions: Issuer members contribute volunteer hours, Redeemer members contribute excess stock or spare capacity, and Investor members contribute financial capital.
• Job Creation: Volunteer labour is valued at 15 CBTs per hour, recognising and rewarding a new approach to citizenship. Apprenticeships and full-time employment opportunities are also provided.

Social & Community Focus

• Community Engagement: BISC is deeply rooted in the communities it serves, often those considered economically inactive or left behind.
• Mission-Led: BISC’s mission is to inspire participation in eliminating waste and encouraging community support.

Legal Structure

• Co-operative Legal Entity: BISC is a legally incorporated co-operative registered with the Financial Conduct Authority.
• Compliance and Regulation: Adherence to cooperative values, principles, and legal requirements ensures legitimacy and trust.

Education and Training

• Member Education: BISC offers education and training programs on cooperative values, principles, and governance.
• Continuous Learning: Promotes ongoing learning to adapt to technological advancements and market changes.

Conclusion

The Beneficial Intelligence for a Stronger Community (BISC) system is more than just a platform for co-operative business development. It is a new approach to citizenship, leveraging technology to unlock social value, empower communities, and create sustainable economic growth. Through democratic governance, shared revenues, robust technological infrastructure, and a strong social focus, BISC is paving the way for a new era of cooperative business development.