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Community currencies are local based exchanges, which do not replace but rather supplement the national currency system, designed to support local businesses and encourage local trade and production. The Brixton Pound, available to spend in over 250 local shops in the South London neighbourhood, is one such example of a local community currency flourishing.
The founders of the Brixton Pound wanted to do something to stop 80p of every £1 spent locally from leaking out of the area into the pockets of corporations, at the expense of small local traders. They printed a currency that would have the same value as the pound, but could only be traded in independent Brixton shops, where the shopkeeper would also have to spend it locally.
Brixton Pound was launched in 2009 as a physical paper-based currency and was followed two years later by the launch of the electronic B£ pay-by-text platform. The notes carry the…
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