The features of local currencies and their social benefits

Abstract

Nowadays no one disputes the role and the significance of local currencies. We can find local currency and types of local currency initiatives in many places throughout the world. Local currency works similar to vouchers but is transferable and has secondary circulation. Local currency complements the trade in national currency andt does not seek to replace it. The role of a local currency is to connect economic and non-economic stakeholders, protect the local economy and also be used as an anti-crisis resource. Local currency systems have several advantages but during their configuration difficulties can occur. A local currency can only be operated through regional co-operation and for this the collaboration of the local governments, entrepreneurs and individuals is needed.