Description

A LETS system is essentially a local, interest-free network where accumulating a currency is not considered a merit or achievement. It is a locally initiated, democratically organised, not-for-profit community enterprise that provides a community information service and records transactions of members exchanging goods and services by using the currency of locally created LETS Credits. Social and economic activities are interwoven: a balanced exchange between people who are both consumer and producer.

Examples

NOPPES

Author: Lorna Muddiman - Published At: 2013-05-22 07:44 -

NOPPES, based in Amsterdam, is a 20 years old LETS (Local Exchange and Trading System). NOPPES's goal is to contribute to a more prosperous (social and economic) life of its members, who exchange talents, services and goods for ‘noppes’, a symbolic currency (noppes means ‘nothing’, no money).

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