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'Bristol Pound' currency to boost independent traders
The Euro is in trouble, the world's financial system is in turmoil. Is this the perfect time for cities to go it alone, and print their own money? A group of independent traders in Bristol are launching their own currency, with the backing of the council and a credit union. The "Bristol Pound" will be printed in notes, and also traded electronically. There are other local currencies in the UK, but this is the first which can be used to pay local business taxes. Ciaran Mundy, the director of the Bristol Pound, explained the concept behind the currency....Read more here--: BBC News - currency to boost independent traders
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It is a direct assault on global trade. The city of Bristol has launched its own currency, which cannot be used in Bath, never mind Berlin or Bombay. More than 350 firms in the city have signed up, making it the UK's largest alternative to sterling. Unlike previous schemes which have relied on paper, the Bristol Pound can be used online, even by mobile phone. But other local currencies have never really taken off, so can the Bristol scheme really fly?
Local 'locked in'
Ciaran Mundy has been working on the scheme for three years now. To him, this is much more than just a local curiosity. He said: "If you lock the money into the area, rather than it going into the international finance system then you keep more money actually working in the city here.".....Read more here: BBC News - Bristol Pound launched to keep trade in the city