Inspired by the Occupy movement and Bitcoin, Freicoin is a decentralized, distributed electronic currency designed to address the grievances of the 99% and correct the excesses of the 1%.
One criticism of Bitcoin is that it is designed first and foremost as a store of value, a kind of digital gold. As a result many users prefer to have Bitcoins sit in their accounts in the hope that they will appreciate in value rather than encouraging a healthy economy by spending them on goods and services. Freicoin aims to counter hoarding through the introducion of demurrage or negative interest.

From New Scientist –
“Freicoin, created by NASA engineers Mark Friedenbach and Matt Everingham and photographer Aaron Blumenshine, uses a version of the Bitcoin software with one key difference – all account balances are charged a 4.4 per cent annual fee, which is distributed to all of those running the software.
The upshot is that it becomes very expensive to store large amounts of cash – $1 million would be eroded to less than $800,000 in just five years. Those who have regular income and expenditures would see little change though, as money enters and leaves their accounts too regularly to be reduced by much. The rich then have a choice – turn your Freicoin into a tangible asset such as gold or real estate and risk theft or other accidents, or loan out your money at low interest rates to the 99 per cent.”
– from “Freicoin: Occupy’s online currency for the 99 per cent” by Jacob Aron – http://www.newscientist.com/blogs/onepercent/2012/06/freicoin-occupys-online-curren.html

The developers have been working on Freicoin for over a year and are currently crowdfunding on Indiegogo to take Freicoin to the next level.
You can support them by making a donation at http://www.indiegogo.com/freicoin or get involved in Freicoin development at http://www.freicoin.org/

See Also – Why Bitcoin is flawed from a monetary reformers point of view