hands rapidly, satisfying both consumption and production needs." ROSCAs are essentially a group of individuals who come together and make regular cyclical contributions to a common fund, which is then given as a lump sum to one member in each cycle. For example, a group of 12 persons may contribute US$35 per month for 12 months. The US$420 collected each month is given to one member. Thus, a member will 'lend' money to other members through his regular monthly contributions. After having received the lump sum amount when it is his turn (i.e. 'borrow' from the group), he then pays back the amount in regular/further monthly contributions. This explains the name rotating savings and credit associations' for such groups. Depending on the cycle in which a member receives his/her lump sum, members alternate between being lenders and borrowers. That is, there is a mutual give-and-take involved in ROSCAs. There is also a growing interest in peer-to-peer lending and neighbourhood service systems: rather than consumers renting services from businesses, platforms are emerging to facilitate shared usage with each other. Collaborative lifestyles This system is based on the sharing and exchange of resources and assets such as space, skills, time and money. Such a system, while on-trend and sensible, will further dampen demand for and purchase of new products making economic growth very difficult. Category examples Local currency Peer-to-peer lending Complementary currency Microfinance Electronic money Collaborative consumption Rotating Savings and Credit Association Time banks LETS Virtual currency Mutual credit Global Resource Bank See also Peer-to-peer (meme) Reputation capital Reputation systems Sharing economy Social collaboration Social commerce References Collaboration Social networks