There are several experiments with “local money” underway in Germany as described in the article from BBC News Germans take pride in local money where there are many new regional currencies.
This has always been a legal grey area.
But there are comparable financial schemes, like ‘air miles’.
‘Social money’
It’s quite simple. The money you spend stays in the region. Everyone who uses the regional currency develops a social network. People get to know each other.
The goal of organizers is two-fold: to boost the local economy, and to create networks of local business owners and entrepreneurs. via centralityjournal
Money is like an iron ring we’ve put through our noses.
We’ve forgotten that we designed it, and it’s now leading us around. I think it’s time to figure out where we want to go — in my opinion toward sustainability and community — and then design a money system that gets us there.
The origin of the word “community” comes from the Latin munus, which means the gift, and cum, which means together, among each other.
So community literally means to give among each other. Therefore I define my community as a group of people who welcome and honor my gifts, and from whom I can reasonably expect to receive gifts in return. -Bernard Lietaer, Beyond Greed & Scarcity at community currency
The Berliner, issued by a local environmental group, is one of around 20 local currencies that have begun circulating over the past five years in Germany. Concern about the impact of globalization and distant multinational corporations on their communities and locally owned businesses is one of the motivations behind making local money that will stay at home, community activists say.
Drain of fees
Three percent goes to local causes such as a children’s farm, a playground, and a church program for teens overcoming drugs – comparable to the slice taken by the fees bank and credit card companies charge.
‘The Regio’
The Regio is not legal tender or an “official” means of payment, which means that its acceptance is entirely voluntary. Initiators of Regional Currency believe that they can strengthen the region with its specific targets of exchange.
‘Time Dollar’ in the USA
Fourth Corner Exchange, near Seattle, are social entrepreneurs who recognize that our traditional money system creates serious social problems, which devastate our local economies by removing money from local communities.