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Alternative currency

An alternative currency (or private currency) is any currency used as an alternative to the dominant national or multinational currency systems (usually referred to as national or fiat money). They are created by an individual, corporation, or organization, they can be created by national, state, or local governments, or they can arise naturally as people begin to use a certain commodity as a currency. Mutual credit is a form of alternative currency, and thus any form of lending that does not go through the banking system can be considered a form of alternative currency. When used in combination with or when designed to work in combination with national or multinational fiat currencies they can be referred to as complementary currency. Most complementary currencies are also local currencies and are limited to a certain region. Barters are another type of alternative currency. Often there are issues related to paying tax. List of alternative currencies[edit] Advantages[edit] See also[edit]

http://en.wikipedia.org/wiki/Alternative_currency

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Local currency See Emissions Reduction Currency System for community based initiatives aimed at emission reduction In economics, a local currency, in its common usage, is a currency not backed by a national government (and not necessarily legal tender), and intended to trade only in a small area. As a tool of fiscal localism, local moneys can raise awareness of the state of the local economy, especially among those who may be unfamiliar or uncomfortable with traditional bartering.[citation needed] They encompass a wide range of forms, both physically and financially, and often are associated with a particular economic discourse. All are currencies that have different designs and serve different purposes than conventional money.

Complementary Currency Resource Center Please Note: To be added to this list, the software must be in use by an existing Complementary Currency System that is registered in the ccDatabase. Otherwise, it will be added to the bottom of the list. Community Accounting for Drupal An accounting module for popular content management framework, Drupal. Integrate your accounting with all your community’s other online activities! Powerful user-friendly interface gives you the tools to completely design the user experience without writing code.

Private currency A private currency is a currency issued by a private organization, be it a commercial business or a nonprofit enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies is severely restricted by law. Today, there are over four-thousand privately issued currencies in more than 35 countries. These include commercial trade exchanges that use barter credits as units of exchange, private gold and silver exchanges, local paper money, computerized systems of credits and debits, and digital currencies in circulation, such as digital gold currency. History[edit]

WIR Bank WIR Bank logo The WIR Bank, formerly the Swiss Economic Circle (GER: Wirtschaftsring-Genossenschaft), or WIR, is an independent complementary currency system in Switzerland that serves businesses in hospitality, construction, manufacturing, retail and professional services. WIR issues and manages a private currency, called the WIR Franc, which is used, in combination with Swiss Franc to generate dual-currency transactions. The WIR Franc is an electronic currency reflected in clients' trade accounts and there is no paper money. The use of this currency results in increased sales, cash flow and profits for a qualified participant. WIR has perfected the system by creating a credit system which issues credit, in WIR Francs, to its members.

Local Exchange Trading Systems 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]

Mark Boyle (Moneyless Man) Mark Boyle aka The Moneyless Man (born 8 May 1979) is an Irish activist and writer best known for founding the online Freeconomy Community, and for living without money since November 2008.[1] Boyle writes regularly for the Freeconomy Blog and British newspaper The Guardian. His first book, The Moneyless Man: A Year of Freeconomic Living was published in 2010.[2] Boyle currently lives near Loughrea, in the west of Ireland. Mark Boyle grew up in Ballyshannon, County Donegal, in north-west Ireland. Complementary currency Complementary currency describes currencies that exists as a supplement to our conventional (national) money. “A complementary currency (…) is an agreement to use something else than legal tender (i.e. national money) as a medium of exchange, with the purpose to link unmet needs with otherwise unused resources” (Lietaer & Hallsmith 2006: 2). Complementary currencies advocates thus don't claim a full Separation of money and state. Purposes[edit]

How to Start Your Own Private Currency - Derek Thompson - Business It's not as complicated as it sounds. All you need is a system other people can understand and, most importantly, trust. Here's a nightmare scenario shared by some mainstream investors, goldbugs and Ron Paul devotees: The year is 2013. Inflation has the U.S. economy in a stranglehold. International investors are fleeing to the far corners of the globe. The dollar is in a free fall, and Americans are scurrying to protect their wealth.

Learn Skills, share tools, save money and make great new friends Streetbank is very like Justfortheloveofit. It lets you share things and skills with your neighbours and join in with community discussions. If you'd like to move your Justfortheloveofit account over to Streetbank, just enter your email address below and we'll pull your details across. Mutual credit Mutual credit is a type of alternative currency in which the currency used in a transaction can be created at the time of the transaction. LETS are mutual credit systems. Typically this involves keeping track of each individual's credit or debit balance. Although the effect is like a loan, no interest is charged, and since mutual credit allows for trading and cancelling balances with others, debts can be paid off indirectly. The "IOU" is a common example of this. Advantages and disadvantages[edit]

Pretty much everything about the real identity of bitcoin’s mysterious creator will surprise you The mysterious, anonymous creator of bitcoin, whose identity has been sought by countless journalists, geeks, and hobbyists since the currency first appeared, has finally been uncovered. Update: Dorian Nakamoto told the AP that he did not invent Bitcoin, and only heard of it when his son mentioned a reporter had called him to ask if the elder Nakamoto had invented it. And now the whole affair is a meme. The most astonishing thing about the man behind bitcoin, who went by pseudonym “Satoshi Nakamoto” online, is that his real name is in fact Satoshi Nakamoto. But until journalist Leah McGrath Goodman, investigating for Newsweek, thought to search a database containing the registration cards of naturalized US citizens, no one had bothered to find out whether someone living in the US who is actually named Satoshi Nakamoto might be the guy who invented a cryptocurrency that is now worth billions of dollars. Between 2009 and 2011, Nakamoto corresponded with other coders who worked on bitcoin.

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