So I thought I’d just give some armchair thoughts on this:
This, along with FairCoin, seems like an interesting project. In my view, co-operatives form a kind of market of their own - they tend to want to co-operate with each-other and tend to be pretty stable businesses but expanding the co-operative network is difficult largely because of a relative lack of liquidity as compared to other types of business wherein various financing options are more readily available (of course you can do a hybrid model to gain resources through the stock market, for instance, but then you water down the ownership of the business).
You could, in principle, have a system whereby housing cooperatives, energy cooperatives, shopping cooperatives, tech cooperatives and so on all agree that this coin has some value - at this point the coin would have a kind of implicit value. At that point, the coin would be far more than a single-use ICO mechanism (although in terms of raising GBP, which is important in and of itself, is important), but something that other types of business might start to accept it as well (particularly companies which, while private, still try and maintain a positive social image), which would be beneficial as the co-ops would have control over how this currency is initially distributed. i.e. in favour of co-ops. In principle this should be favourable to investors as well as they would stand to gain from the coin becoming more valuable.
I suppose the FairMarket is an attempt at giving the FairCoin some level of value in the way that I described, in a less formally organised way.
It’s somewhat high-risk, however, if this is successful because governments have a bit of a thing about competing currencies (see how China recently banned ICOs). Tax and such has to be taken into account. Decentralising the currency in the same way as Bitcoin to avoid it being clamped down on is difficult when you want to have a clear governing body. The currency crashing could end up in any co-ops relying on it to fail so that has to be hedged against somehow.