Community Currencies
Within community economies producers are forced to compete with outside producers that are subsidized, enjoy political privilege, or are not required to play by the same rules.
Often terms of trade are dictated by outside buyers or sellers who dominate markets and money that comes in, goes quickly out again, with resources and wealth siphoned off by absentee owners.
The solution to this has been the development of the community currency, or non-nationally printed, cash equivalent currency.
Community currency itself circulates in various ways:
- As paper notes or tokens (the most popular form as community currency is generally used in poorer communities who lack technology infrastructures)
- Checks which, unlike paper notes or tokens, require a central authority to maintain record-keeping for each members account
- Swipe cards -- Debit cards
- Smart cards or electronic wallets
- Online transfers
Community currencies may be geographically or socially defined and range in size anywhere from 10 to over a million participants.
