Business that are Taking Part

Countrty Garden

Moviemart

The smorgasbord

VillageOne








 


About Kamloops  Dollars 
Smorgasbord Deli 
225-7 th  Ave (downtown) Kamloops BC

Breaking News
http://www.liveleak.com/view?i=98b_1422999032
 

Our Goal:

To create a more sustainable and self-reliant local economy.

Next steps: Research the options for achieving this goal.  Is an alternate currency the best way to go?  If so, which model do we want to adopt?

Proposed Local Currency

 Why a local currency?

           We are proposing a local currency as a way of stimulating the local economy—small manufacture, agriculture and retail. Anywhere there is room for growth in our economy a local currency is able to provide a stimulus by encouraging people to shop in places which accept the currency rather than  trans national corporations where the currency is unlikely to be accepted as their purchases are not likely to be made locally. It is not proposed that  this currency replace Canadian currency, but rather that it supplement $Cdn  by stimulating local growth  whereas  $Cdn does the same on a national scale. Some of the European countries have held onto their country’s national currency for this reason while still using the Euro for regional transactions.

How does it Work?

The local currency will be, for all intents and purposes on par with the $. Its value is dependant on it being circulated continually and some places which use local currencies charge a fee for cashing it in rather than spending it back into the economy. Once the currency is in circulation we can count on a certain amount leaving the area or never being used, saved as collectors items, etc. which will finance operating costs.

Where does it come from?

Initially we will need to raise money to have it printed. (Possibly grants from the City?) We have done the research on costs and security features, etc. (see web page). In order to get it into circulation we will need to do considerable promotion to the public. Businesses will be offered an incentive (5%?) to purchase bills to distribute as change to customers— educating them at the same time on its benefits. We don’t expect this to happen all at once but the more businesses participating, the better. (UBC example)

What does it look like?

We envision denominations of $5, $10 and $20, at least initially. Their look would closely resemble the $ except that it would feature local scenes on one side and local historical figures on the other. The museum has indicated they would be pleased to help us in this area.

Who looks after it?

The Bank of Montreal and The Bank of Commerce are looking into holding accounts where the local currency will be stored. If this does not pan out other arrangements will have to be made for security of the balance and a non profit society will be set up to look after it. A web page will be dedicated to keeping the public informed and provisions will be made for future possible use of Cyclos software for electronic transactions.

Research
:
- Here’s a really good basic introduction to starting a local currency, with lots of great links: http://www.resilience.org/stories/2012-10-23/how-to-start-a-community-currency  

- Brixton Pound has a great website.  Here’s a link to the pay by text function:        http://brixtonpound.org/how-b-works/for-users/pay-with-be-pay-by-text/  

- Here’s a really good basic introduction to starting a local currency, with lots of great links: http://www.resilience.org/stories/2012-10-23/how-to-start-a-community-currency

- Here’s a video I watched tonight, that covers a really broad spectrum of “local first” initiatives.  It is over an hour long, but worth the time, in my opinion.  You’ll have to ignore the dated references (it is a few years old), but the content still seems very current to me.  http://fora.tv/2008/11/05/Michael_H_Shuman_The_Small-Mart_Revolution

- Courtenay Community Way model (see Video on the left)

- Cyclos software (used for Brixton Pound & others)

   http://www.cyclos.org/    Check out the demo on web page


- Cryptocurrencies (e.g. Aurora in Iceland and Scotcoin in Scotland)

   http://en.wikipedia.org/wiki/Cryptocurrency

   http://motherboard.vice.com/blog/bitcoin-how-it-works-how-to-use-it-whats-next

   http://auroracoin.org/
 
   http://www.bbc.com/news/technology-26083733

- Potential impact of a renewed "Shop Local" campaign

  http://www.filmsforaction.org/watch/coming_home_the_reinvention_of_localized_economies/

- Other ways to achieve our goal? 
 


Lets
local exchange and trading systems

Salt Spring Dollar   Community Way   Calgary Dollar   Time Banks  

 




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