C7 Local Currency to Support Local Economies[]
Currency which is only useful locally supports local exchange and economic activity. It can allow people to trade goods and services in their region regardless of what’s going on elsewhere. It becomes a more practically valuable to the extent there’s enough local industry that people’s basic needs can be met by local production, and enough buy-in from local producers to represent a viable medium of exchange. Its strategic use can help stimulate local entrepreneurship in meeting people's basic needs. Local currency becomes a lot more critical if national currencies are in crisis.
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