BBC.com ran an interesting piece on September 18 by Dave Harvey on the recent creation of a new local currency in Bristol, England: the “Bristol Pound.” Notes Harvey:
“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.”
The article goes on to note:
“Alternative currencies have certainly done well abroad. A German currency called the Chiemgauer has been operating in Bavaria since 2003. Last year, 550,000 Chiemgauer were in circulation, with a turnover of 6.2 million. With a 1:1 exchange rate with the Euro, that’s serious business.