Editing Local currency (section)

==Purpose==
Local currencies aim at using money as a tool to achieve social or environmental objectives. According to the [[New Economics Foundation]] partner Community Currencies in Action:<ref name=CCIA>{{cite web|title= People Powered Money: designing, developing and delivering community currencies|url= https://neweconomics.org/2015/05/people-powered-money|publisher= Community Currencies in Action|access-date=31 July 2020}}</ref> 
{{pull quote|''... money is simply a social technology and the ways in which it is designed, produced and controlled – far from being neutral or predetermined factors – all influence the effects it has upon society at large.''|author=People Powered Money: designing, developing and delivering community currencies.}}

Some of the purposes for community currencies identified by Community Currencies in Action<ref name=CCIA /> include:

* Democratizing services and organisations: time credits for volunteering encourage people to actively engage in their community while making services, such as elderly care, more democratic. Zeitvorsoge,<ref name=CCIA/> Makkie<ref name=CCIA/>
* Supporting small and medium enterprises: Community currencies can serve as a means to promote independent shops over large corporations since they keep on circulating locally. They can also help SMEs support each other financially by lending and receiving credit, goods and services within the currency network. Examples are: [[Bristol Pound]], SoNantes,<ref>{{cite web|url=http://communitycurrenciesinaction.eu/curreny-pilot-sonantes/|title=Community Currencies in Action: SoNantes}}</ref> TradeQoin,<ref>{{cite web|url=https://tradeqoin.com/en/|title=TradeQoin is a network of entrepreneurs|access-date=2017-02-10|archive-url=https://web.archive.org/web/20170211082145/https://tradeqoin.com/en/|archive-date=2017-02-11|url-status=dead}}</ref> [[Chiemgauer]]
* Countering inequality and [[social exclusion]]: Specially designed currencies can address inequality issues by giving everyone the chance to get involved in their community; for instance by rewarding participation in voluntary programs. (Spice Time Credits,<ref>{{cite web|url=http://www.justaddspice.org/|website=www.justaddspice.org|title=We Create Meaningful Change In Communities}}</ref> Makkie)
* Addressing environmental impacts: Community currencies can play a role in better valuation of environmental resources and providing an incentive for more sustainable behavior. For example, the Belgian  Portemonnee rewards residents for environmentally positive actions such as composting. Reward currencies can also encourage businesses to adopt more environmentally sound practices.
* Maintaining the purchasing power, value preservation. Example: Convertible Minute / Minutes Bank