Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
According to "Time" it appears that Alternative Currencies Grow in Popularity

Alternative currency comes in many forms. In addition to time banking, there are Local Exchange Trading Systems (LETS), systems of mutual credit that vary by location. This model was developed by Michael Linton in Canada, though it seems mostly to have taken off in the British Isles; an estimated 40,000 people in the U.K. use these for at least some transactions. (See TIME's Top 10 Everything of 2008)

Similarly, the Community Exchange System (CES) is an online money and banking system and trading marketplace that tracks credits and debits. While LETS's function as clubs that set their own guidelines, CES is administered through an online program that connects local groups to create a global network. The CES website points to more than 100 exchanges in fifteen countries. According to Squires, the Internet has made alternative forms of exchange more viable, as databases can keep account of credits.

In the rarified world of monetary theory, think-tanks are abuzz with ideas about future forms of money. One visionary, Jean-Francois Noubel, the co-founder of AOL-France, foresees "millions of free currencies circulating on the Net and through our cell phones" as money follows the distribution path that media has over the last decade.

Bernard Lietaer, a Belgian economist and author who helped develop the Euro, has proposed the "Terra," a transnational currency backed by established commodities that would co-exist with conventional notes, the monetary equivalent of Esperanto.

In recent years, the impetus for alternative currencies in established economies has stemmed in part from localization movements. Periodically ditching the dollar (or the pound, or the yen) in favor of homegrown currency doesn't merely fortify the local economy, it also builds community: people have a stake in their neighbor's well-being because that neighbor represents both market and supply chain.

Some argue that such transactions are more secure than others because knowing the person you're dealing with (and his family and friends) serves as a kind of social collateral.

"The future is already here -- it's just not very evenly distributed" William Gibson
by ChrisCook (cojockathotmaildotcom) on Thu Dec 11th, 2008 at 04:08:31 PM EST
[ Parent ]

Others have rated this comment as follows:

afew 4
nanne 4
Cat 4
Loefing 4


Occasional Series