WEBCAST: The Bristol Pound and How to Create a Local Currency
The Bristol Pound is unique. An alternative currency designed to keep money within the local economy that's the most successful local alternative trading system in the world. The Mayor of Bristol is paid in it. You can buy a house, travel on buses, eat in cafes. In fact it's possible to do just about everything using the currency. Ciaran Mundy is manager of the scheme. He talks here about what it is that's made it so successful and gives tips on how to set one up in your location.
- the advantages of the scheme to the users;
- the advantages to the businesses involved;
- how Bristol pounds are exchanged with sterling;
- how many members it has and the value of the currency in circulation;
- how one can use a mobile phone to pay;
- the relationship with the local Credit Union;
- how the taxman feels about it;
- if there is more red tape - eg dual accounting - for businesses;
- how they got the Mayor on board'
- whether grants were needed to set it up and where they came from;
- whether and how any of the managers is paid;
- how long it has been running;
- why has it been so much more successful than schemes in other cities;
- advice for people in other cities wanting to emulate the scheme.