This post follows on from a previous post: Alternative currencies – Simbi and the Flying Brick. Thinking about how alternative currencies can be designed to suit the particular circumstances they are intended to improve, I suddenly realised that it should now be possible to implement LETS in any part of the world where people generally have access to feature ‘phones – which nowadays includes many places where access to hard cash is extremely difficult.
LETS Stands for Local Exchange and Trading Scheme. LETS systems exists to enable groups of people who for any reason at all find trading with traditional ‘hard’ currencies difficult.
For instance: people without enough money, people denied access to markets, people who want to be sure that the results of their efforts benefit their community as much as possible.
LETS systems must be able to do four simple things: