LETS (Local Exchange Trading Systems or Schemes) differ from currency schemes in one important way. The LETS philosophy deals with bartering of goods or exchange of time rather than money. Within a community, Janie might spend time babysitting at Kitty's to earn 'credits', and in return get some seedlings for her garden from Bill. Kitty might bring some home-baked biscuits to a swap meet and trade them for Bill to do some gardening for her. Jason might fix Bill's computer, and so the favours go around. LETS formalise a 'help-your-neighbour' philosophy. Many, many such projects exist around the world, and there are hundreds in Britain alone. Most deal by using centrally coordinated time banks or monthly swap meetings. Few have tried issuing notes to keep track of their projects, but the known schemes are covered on the following pages.
Many more unknown examples may exist, as these schemes are extremely localised. Should anyone know of printed notes please contact us, so additions can be researched.
The Chichester Transition movement has been active since the mid-2000s. In 2010 the group launched their new currency, the Chichester Tchi (Transition CHIchester). From the outset, this was a time-based currency, with one Tchi representing an hour's work. Alas like so many other schemes, the Tchi could not gain popularity having around 150 members at its height. Despite a last-minute move to use an electronic platform, the currency fell into disuse during 2015.
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