Currencies
SET UP A COMMUNITY CURRENCY
The ecosystem of local currencies is very diverse and dynamic. Here are some great ideas for a local currency that can drive your community.
Mutual credit systems
Mutual credit systems inject additional purchasing power into the community. Participating members receive an interest-free loan for purchases in the network and accept the local currency for their goods or services.
Local Exchange (LETS)
Promote the exchange of goods and services between people using a local currency.
Time Banks
Facilitate the exchange of services between people using time as a currency unit.
Business Barter
Organize the exchange of goods and services between local businesses.
Cash backed systems
National currency is converted into a local currency to incentive people to buy locally, boosting trade for participating businesses or people. Eventually, the local currency will be cleared with cash according to established rules.
Local wallets
Convert money to a local currency with additional benefits for buying at local participating shops.
Rewards
Reward people in your community for actions that make a positive and sustainable local impact.
Transfers
Assist people in the community with transfers for purchasing selected goods or services.
Technology
Local currencies can be issued or circulate in different forms. Choose yours:
Paper
Mobile wallet
e-Vouchers
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Cyclos is an award-winning payment and banking software with a proven track record in delivering security, flexibility, scalability, and quality. Cyclos supports hundreds of local currency systems around the globe.