"FairCoin is the monetary base system for FairCoop-The Earth Cooperative for a Fair Economy (see https://fair.coop). At FairCoop we develop tools and transfer knowledge that enable everybody to participate in a fair global economy. FairCoin plays a central role within the FairCoop ecosystem and is constantly being developed to further our values…With FairCoin version 2 we create blockchain-based software that is fair, secure, resources-saving and decentralised. It is based on cooperation and not on competition, which creates better efficiency."
What we don't like:
It’s difficult to understand what Faircoin does differently than other spendable cryptocurrencies. The proof of cooperation mining gives the miner low incentives (.01 cents per block mined) as a way to keep the rich from getting richer. However, that decreases the incentive for people to mine. What would be worse is if people with little money were to unable to use their money because their FairCoin Blocks go unmined. FairCoin is accepted in few locations. This makes it difficult for the 99% to spend. They have a few items on their store which you can buy directly. Unless, you’re buying the exact items on the FairCoin store, other spendable coins would be more useful.
What we like:
The proof-of-cooperation mining is an interesting concept to lower the energy cost of cryptocurrency mining.