NEWS!!! New site for Ayrshire LETs online
Local Exchange Trading Systems (LETS) and Schemes are local, non-profit exchange networks in which all kinds of goods and services can be traded without the need for money. A LETS network uses an interest-free local credit or currency so direct swaps do not need to be made. A LETS member may earn local credit by doing childcare or computer work for one person, and spend it later on food, hiring equipment, plumbing, or carpentry with another person on the same network or another LETs network.
Local
Local community run and administered for the people by the people. Any person can trade with any other and also check on anyone elses's LETS account at any time. Administration Commitees are usually elected by all members annually.
Linking to a wider network of trade
United Kingdom: An estimated 20,000 people are now trading in over 400 LETS networks in cities, towns, and rural communities across the UK. LETS currencies have their own names, and often reflect local distinctiveness: Readies in Reading, Locks in Camden Town, Groats in Stirling, New Berries in Newbury, Berkshire, Piers in Southend-on-Sea, Hearts in Birmingham and Thistles in Ayrshire.
LETs Linkup: This site has make great efforts in pulling together links between other LETs in UK and world wide and the author has travelled the world extensively, and for practically nothing, using LETs linked up in different countries.
Open Source Software implementation set to widen the scope of local trading and make worldwide FREE trade possible:
The following open source and GPL (FREE) licenced software projects aim to allow local networks to join with other local networks so that a truly global economic system can be realised which will allow FREE trade and interest free exchange systems.
LETs Implementation - Ripple
LETs Administration - Cyclos
LETs Administration - CCLite
LETs Administraion - Letsam
