The challenges that must be overcome toward the establishment of the International Cooperatives Bank are enormous.
Even within each country, urban concentration of population and financial strength is increasing, making mutual understanding between cities and rural areas, agriculture and commerce and industry even more difficult. Those who have gained power and wealth are becoming more powerful over weak people and regions. The oligopoly of information platforms by giant IT companies is progressing at the planetary level, making it difficult to disperse and accumulate information that should be independently managed by country or region. There is concern that international organizations will deviate from the ideal of establishment and will be influenced by the intentions of some certain countries and powers. The international financial and monetary market starts to depend on AI, and there is a risk that financial market would repeat rapid fluctuation beyond human knowledge and control ability. Under these circumstances, The International Cooperatives Bank shall have a mission to healthily maintain voluntary & democratic “helping each other” of independent “small & medium producers and residents” of each country, so as to maintain life defense system and local economy independence. For it, The International Cooperatives Bank, while staying neutral to competition and conflict between nations and blocks, with heartfelt respect and kindness, needs to continue to strive to connect people and regions that could be torn apart or dominated if nothing is done.
To overcome these challenges, it is necessary for more people in each country to exchange opinion about the issues as follows;
- Philosophy and vision of The International Cooperatives Bank (neutrality against conflicts between nations, etc.),
- Possible founding processes (necessity of international treaty or relation with United Nations etc.),
- Organizational / financial structures (capital adequacy and rating measures, etc.),
- Membership (opening the door to non-cooperatives, etc.),
- Headquarter location (Geneva etc., emphasis on neutrality),
- IT infrastructure including databases (decentralized FIWARE, etc.) to be built,
- Challenges that will arise between countries, the strategies and operations, and the risk management that should be taken.
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