Editing Local currency (section)

== Modern local currencies ==
[[Image:Salt Spring Island Dollar - One Dollar.jpeg|thumb|[[Salt Spring dollar]]s are a community currency issued by the [[Salt Spring Island]] Monetary Foundation. The currency is used by both tourists and local residents of Salt Spring Island.<ref>{{cite web|url=http://www.saltspringdollars.com/ |archive-url=https://web.archive.org/web/20030408110919/http://www.saltspringdollars.com/ |url-status=usurped |archive-date=April 8, 2003 |title=Salt Spring Dollars |publisher=Salt Spring Island Monetary Foundation |access-date=2011-04-27}}</ref>]]

Modern local currencies can be classified into the following distinct types:

# Transition currency based on the local currencies used by the [[Transition Towns]] movement in the UK. They include [[Brixton#Brixton Pound|Brixton Pound]] and [[Bristol Pound]] in the UK, [[BerkShares]] in the USA, and [[Salt Spring dollar|Salt Spring Dollars]] in Canada.<br/> Transition currencies are payment voucher-based systems that are exchangeable with the national currency. Between 2002-2014 many experiments in local currency took this form. Such currencies aim to raise the resilience of local economies by encouraging re-localisation of buying and food production.  The drive for this change has arisen from a range of community-based initiatives and social movements. The [[Transition Towns]] movement originating in the UK has used local currencies for re-localisation in the face of energy descent from [[peak oil]] and [[climate change]]. Other drives include movements against [[clone town]]<ref>{{cite web|url=http://www.publicnet.co.uk/news/2009/04/15/measures-aim-to-tackle-problem-of-empty-shops/ |title=Measures Aim To Tackle Problem Of Empty Shops |publisher=Publicnet.co.uk |date=2009-04-15 |access-date=2010-08-14}}</ref><ref>[http://www.neweconomics.org/press-releases/clone-town-britain-survey-results-reveals-national-identity-crisis Clone Town Britain survey: results reveals national identity crisis] {{Webarchive|url=https://web.archive.org/web/20121108013337/http://www.neweconomics.org/press-releases/clone-town-britain-survey-results-reveals-national-identity-crisis |date=2012-11-08 }} The new economics foundation, 6 June 2005</ref> and [[Big-box store|big-box]] trends.
# Rewards currency based on the frequent flyer model. Consumer spends cash with participating businesses who issue rewards points in a local currency. These rewards points can be used to offset cash prices in future purchases. An example is Oakland Grown in Oakland, CA.<ref>{{cite web |url=https://www.oaklandgrown.org/ |title=Oakland Grown |access-date=2014-01-15 |archive-url=https://web.archive.org/web/20140108131925/http://oaklandgrown.org/ |archive-date=2014-01-08 |url-status=dead }}</ref>
# Mutual Credit currency based on the [[mutual credit]] system. This can be further sub-divided into two:
## [[Time-based currency]] also known as Time Banks that use time as a measure of value. An example is Dane County Time Bank.
## Trade exchanges and LETS ([[local exchange trading system]]) that use price as a measure of value. An example of local currency implemented as a trade exchange is Bay Bucks in the Bay Area of California, USA.<ref>{{cite web|url=http://www.baybucks.com/ |title=Bay Bucks |access-date=2014-01-15}}</ref> LETS were originally started in Vancouver, Canada, there are presently more than 30 LETS systems operating in Canada and over 400 in the United Kingdom. Australia, France, New Zealand, and Switzerland have similar systems.