The Black-Coin Mobile Application will track and incentivise day-to-day spending with Black-owned businesses. The spending data will be used to document all spending and calculate ChathamCash reimbursements. Additionally, the Black-Coin Mobile Application will help create valuable and measurable research data about the Black consumer marketplace.
We define community as people who are held together by common self-interest and how they spend their money. The end effect of all community must be group self-sufficiency. Even though geographic boundaries generally are a primary indicator of community, we believe that common self-interest and economic inter-dependence are the real factors that define authentic community. In the Black (of African descent) community unemployment is at least 2x the national level (the official estimate is about 16.7%, but the real rate is closer to 30%). Black-owned businesses are 85% more likely to hire Black employees than non-Black-owned businesses. So the most efficient use of our consumer dollars to develop the Black community, increase Black employment and increase Black wealth is to support Black-owned businesses.