Businesses in the Rio favela community of Cidade de Deus are aiming to reinvigorate the use of a local currency, first brought in three years ago, in a bid to boost trade and prevent money from leaving the area. © Asger Mow
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Businesses across the London district of Brixton are to be equipped with Bluetooth beacons that will allow residents to make mobile payments using the Brixton Pound, a local currency designed to encourage consumers to spend their money in independent local businesses. 
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The past decade has seen a resurgence of these boosterish bucks. But do they actually redirect spending to mom-and-pop shops instead of big box stores and online retailers?
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The Brixton Pound is becoming ever more popular. Did the rise of bitcoin help?
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1. A second national currency. The currency to be issued by Treasury, spent into existence to buy land. The new currency will have no other taxes than land rents, natural resource rents and taxes on bads. We aim to move to a tax system that taxes the monopoly use of the commons rather than labour and sales. Some revenue will be distributed as a Citizens Dividend to all citizens who have lived there for a year or more, the rest will be shared by all levels of government. We advocate a Land Rental Index to be set up in each area, with land rents being adjusted annually according to the index. Land rentals are relatively very stable over time. It is only when there is a major event like and earthquake that they decline or when a railway is put in or a labour intensive business arrives that they rise more than just a tiny bit.
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Bitcoin is not money like your local currency. There are three basic economic items in the economy:1. Monetary items, e.g., bank notes and coins, money loans and all other items in the money supply.2.
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“ A growing number of communities are using alternative currencies to stimulate their local economies and protect themselves from the nation’s broader economic woes. Via CNNMoney ” (Local currencies: 'In the U.S.
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HullCoin, a local digital crytocurrency, has huge potential but its backers must be prepared to work through problems, says Hannah Fearn (The joys of alternative currencies and our benefits system - fascinating story!
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In pursuit of supporting local economies, a new form of currency has evolved to strengthen community relationships.
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A pilot project of JP New Economy Transition (JP NET) to introduce community members and neighborhood businesses to a local currency, in coordination with Egleston Square Main Streets, Centre/South Main Streets, Hyde/Jackson Main Streets, JP Buy Local and JP Forum
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In this post, I am going to discuss what I presented in the Pecha Kucha session at EPIC 2013. My focus is on a specific complementary currency: the Brixton Pound in London. I have been conducting an ethnography on this local currency since March 2011. During the first year of my PhD in Marketing, I became interested on how consumers approach and stigmatise the mainstream financial system, especially during the last financial crisis. Local currencies represent a good context to show how communities try to build resilience to fight financial instability. Furthermore, the Brixton Pound was the first local currency to appear in a huge metropolitan area. In an era where cities are increasingly global and old bricks-and-mortar neighbourhoods have been substituted by new shiny buildings (Zuckin, 2009), it is quite unique for a neighbourhood to claim its own historical, cultural and economic identity through the creation of a currency.
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One of George Ferguson’s first announcements as mayor of Bristol was that he would take his salary of £65,738 ($108,000 U.S.) entirely in a local currency known as the Bristol Pound.
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It’s a new year, but the same old problems for the EU leadership. The most recent polls suggest a strong streak of disapproval at their performance among people across the Union.
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Wayne Walton is a leading proponent of local currencies. He is well-known as an expert on organic money.
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A new currency could provide a much-needed injection of cash to the local economy of Kingston. Here's how it will work.
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The authors talk about this thing called local currency. This is the currency which runs parallelly along with the major currency. Some local communities use things like credit notes, own currency notes to settle transactions among them. For instance, it is common in India to get such notes/coupons etc from shopkeepers for lack of change. Yes, we also get a lot of toffees/candies these days instead of small denomination change. Wondering whether candies be treated as local currency too?
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This is one of those stories. It’s got everything one of those stories has. It happens in an unlikely, out of the way place. It’s about people coming together in common cause for their own lives and their own communities. And the original spark comes from a couple visionary citizens who see what needs to happen and believe if they work hard for a few years there’s a good chance it will happen.
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Because of the way the currency is tied to the value of the U.S. dollar, anyone who uses BerkShares receives a five percent discount over those using U.S. dollars. Although users can buy 105 BerkShares for $100, “We take your BerkShares at the same value as U.S. dollars, and we spend them as U.S. dollars. And it stays in our community, because there’s a geographical limit to where you can redeem BerkShares,” said Brian Butterworth, director of sales at the local Red Lion Inn.
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Brixton, Bristol, Totnes, Lewis and Stroud all have a local currency working alongside sterling, while people in Hackney are also creating their own version.
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Time banking, business-to-business currencies, local payment schemes: community currencies such as these are rapidly rising to prominence in the wake of the financial crisis, in Europe and elsewhere.
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Bristol, Lewes, Brixton, Totnes and Stroud have all done it and now Oxford seems to be next to get its own currency. Local resident, Adam O’Boyle, is behind the idea to launch the Oxford Pound (£O) later next year.
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Curated by jean lievens
Economist, specialized in political economy and peer-to-peer dynamics; core member of the P2P Foundation
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