A crash course in changing the world.
The future of money is such a vital topic for our ever changing world especially since 3 billion people currently live on less than $2 a day. One of the creative solutions that I read about was the Local Exchange Trading System. I really liked how it was a way that will change the world in terms of money. The basis of the LETS is that it's a locally initiated, democratically organized non-profit community enterprise. It provides communities ways to record transactions of members exchanging goods and services by using currency (locally created LETS credits).
There are some criteria used to determine what is a LETS credit. These criteria include the cost of service, consent, disclosure, no interest and equivalent to national currency. The aspect that I like most about the system is the way that people can barter. It reminds me of an older time in the American system where people helped one another through bartering. An example used is a member earning credit through providing childcare and spending that credit on carpentry later.
I liked how this systems allows those to use their skills in a way that can be used to provide for themselves or their families. I think that this system really gets back to basics and allows people the opportunity to use their skills in such a way. Although I know that this won't be the only way to help increase money, it's definitely an alternate solution.
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