Isle of Dogs, London Borough of Tower Hamlets
The dream: to regain public trust in banking – the catch: they’re your business partner. Straddling the polar economic worlds of the Canary Wharf and Cubitt Town, Local Capital’s long-term plan is to make wealth inequality a thing of the past.
Our relationship with money has shifted from having a strong link between the physical and emotional to being almost wholly virtual with no emotional connection. All the while, commercial banks promote themselves on liberal values to cover their backs and invest your money in overseas projects that do not directly impact you.
Local Capital proposes a radical reimagining of banks’ interaction with its customers, where your money is invested into vital space for business-start ups and other services where you can go to get financial advice and support.
A fiscal building that exchanges ground rent to businesses for shares in their business profit is an ambitious idea that all office buildings could implement, if we wish to see a future of perpetual economic success.