Listening to Nigel Topping speaking about Totnes currency. In Totnes, Devon, they have issued their own community currency, with a view to keeping their money in the community. All sorts of challenges, and issues, but it is receiving growing acceptance.
The Totnes Pound was launched as an initiative of Transition Town Totnes Economics and Livelihoods group in March 2007[2]. The group argues that “Economic localisation is considered to be a key aspect of the transition process, and local currency systems provide the opportunity to strengthen the local economy whilst preventing money from leaking out”[3].
Their near term plans are interesing, yet large in potential:
- Issue a totnes 5 pound note, including full security features
- move from being sterling backed, to being carbon backed
The notion of community, yet with such scale, brings new meaning to think globally, act locally. in fact, it makes me wonder if there is not a direct application to social lending, social investing, by encouraging the same goals of keeping in the community, yet offerring greater scale.
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Guillaume’s blog » Blog Archive » The Bankwatch: "Community currency enhances community value" // Wednesday, 23 April 2008 at 11:30
[...] Bankwatch: “Community currency enhances community value” The Bankwatch has a post about a community currency this morning. The benefits described are in line with my earlier post on community currencies. This [...]
John Rogers // Thursday, 24 April 2008 at 07:01
Community currencies are a 25 year old global movement that is beginning to mature as we learn and apply the lessons from thousands of experiments on every continent. Many systems have not sustained themselves over time, a few have. As we begin to apply the principles of better design, planning and organisation we will begin to see these systems move into the mainstream to provide some of the answers to financial instability, community breakdown and unsustainable practices.
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