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BRIEF DESCRIPTION OF PROGRAM

The new service operates as a market in a different form, which is designed for the exchange of goods and services among the participants. The service "Social Solidarity Program" is based on the principles of solidarity, justice and equality and exclusively operates for the benefit of citizens, excluding consumerism, competition and speculation.

The new service concerns trade and exchange of goods or services between citizens without using real money. The value of the services and goods which the residents exchange between each other is measured in To.M. units (Local Unit) instead of Euros.

These units are a kind of ''local currency'' that is used only by registered members of the service.  For example, if a member of the Program who is a graduate of English literature agrees with another member of the Program to provide private English lessons to his or her child, then, instead of being paid in Euros, he or she will be paid (compensated) in an amount of To.M. units which would have been predetermined and agreed among them. After that, the English literature graduate will be able to exchange the To.M units (that he or she has earned from tuition delivered) for acquiring goods or services by any other member of the Program, depending on his or her needs. If, for instance, the English literature graduate needs a plumber to fix something in his/her house, he/she may use his/her available To.M. units.

Exchange or trading of goods or services is not subject to any taxation because it is realized without the use of real currency.

As mentioned before, members of the "Social Solidarity Program" can only become residents of the municipalities that are members of Nicosia Development Agency. All citizens have the opportunity to become members under any capacity or specificity (i.e. a plumber, builder, butcher, teacher, producer of fruit or vegetables, doctor, engineer, etc.).

The monitoring for the exchange of services or products (i.e. the "transactions" and "payments") is managed by the present website ("web platform"). The website has the ability to create a separate space for each one of the members of the Program, which is accessible only by the member using the code (username & password) provided. In this online space, the member may be informed about his/her activities in the framework of the program (i.e. a record of what services or products he/she has exchange with other members), as well as about the remaining balance of To.M. units in his/her account at any time, in order to know what kind of services or quantity of products that are offered by other members of the Program he/she can buy.

Another important service offered by this website, is the common area where available services and products may be advertised. More specifically, in this public space, a member of the "Social Solidarity Program" who produces oranges is able to inform the other members that he/she (for example) offers 3 kilos of oranges at the price of 6 To.M. units, or, another member of the Program who owns a car wash business may inform the other members that he/she offers to  wash the car of another member for the price of 11 To.M. units. Namely, it is an online space where advertisements by any member of the Program may be hosted and published without any cost.