Short Circuit on the Web. The LETSystem Design Manual. Contents Page 1.
Fundamentals of the LETSystem 1.1 The Community Economy 1.2 Currency and Values 1.3 Fundamentals 1.4 Definition and Account Holders' Agreements 2. Registries and multiLETS 2.1 The Registry 2.2 multiLETS - within and beyond the Registry 2.3 CapitaLETS, LETShare and other familial types. Local exchange trading system.
A local exchange trading system (also local employment and trading system or local energy transfer system; abbreviated to LETS or LETSystem) is a locally initiated, democratically organised, not-for-profit community enterprise that provides a community information service and record transactions of members exchanging goods and services by using the currency of locally created LETS Credits.[1] History[edit] Michael Linton originated the term "local exchange trading system" in 1983 and for a time ran the Comox Valley LETSystems in Courtenay, British Columbia.[2] The system he designed was intended as an adjunct to the national currency, rather than a replacement for it,[3] although there are examples of individuals who have managed to replace their use of national currency through inventive usage of LETS.
[citation needed] A number of people have problems adjusting to the different ways of operating using a LETSystem. Criteria[edit] Of these criteria, "equivalence" is the most controversial. Cyclos - Open source on-line banking software. Theory of LETS and Timebanks. An FAQ on the LETS system. This document was prepared by John Croft, of the Gaia Foundation. and edited by Warwick Rowell - warwick@bettong.EEPO.com.au .
It describes the why, the how and the what of Local Economic Transfer System (LETS) schemes. Q.1 What is a LETSystem? A LETSystem is a locally initiated, democratically organised, not-for-profit community enterprise which provides a community information service and records transactions of members exchanging goods and services by using the currency of locally created LETS Credits. The LETS Credit currency does not involve coins, paper money or tokens of any kind but rather acts as a scoring system, keeping track of the value of individual members' transactions within the system.
It is simply a community information system attached to its own market-place. Q.2 How does LETS work? LETS works a little like a baby-sitting club, where members earn credits by baby-sitting other people's children, spending whenever they need child minding. Q.3 Why start a LETSystem? The LETSystem Design Manual. Contents Page 1.
Fundamentals of the LETSystem 1.1 The Community Economy 1.2 Currency and Values 1.3 Fundamentals 1.4 Definition and Account Holders' Agreements 2. Registries and multiLETS 2.1 The Registry 2.2 multiLETS - within and beyond the Registry 2.3 CapitaLETS, LETShare and other familial types 3. 3.1 Organisation of the Registry 3.2 Organisation of the LETSystem 3.3 Software 4. 4.1 LETS and Government 4.2 Taxation 4.3 Social Security 4.4 Liability 4.5 Data Protection 5. 5.1 Development Strategy 5.2 Regional Development Funding 5.3 Development Organisation 5.4 Regional Development Plan 6 Landsman Community Services Ltd.
This material may be copied and distributed without restriction except that: the original source is identified any changes to the material are indicated any charges made for such distribution must only reflect costs and not personal profit copyright remains with Landsman Community Services Ltd Landsman Community Services Ltd (Canada) Version 1.3 August 1994.