Services > Finance
2011-03-28 21:53:17
Local Exchange Trading Systems (LETS) are locally initiated, democratically organised, not-for-profit community enterprises that provide a community information service and record transactions of members exchanging goods and services by using the currency of locally created LETS Credits. LETS networks use interest-free local credit so direct swaps do not need to be made. In LETS, unlike other local currencies, no scrip is issued, but rather transactions are recorded in a central location open to all members. As credit is issued by the network members, for the benefit of the members themselves, LETS are considered mutual credit systems.
Comparatif des monnaies alternatives
Site web
J'aime 2
Avancement du projetLocal exchange trading systems now exist in many countries.
Topologie Pair à pair (peer-to-peer)Non
Autorité unique centraleOui
Utilise de la cryptographieNon
Date de création1983
FondateursMichael Linton
Réseaux sociaux
  • 2011-03-28 18:51:19
    2011-03-28 21:53:17
  • Finance
  • Publique
  • Creative Commons License CC-BY-SA 3.0 / GNU FDL


  • The "LETS" is a ready made system for recording transactions? Could an "outside" currency based alternative money system use this system for keeping accurate records of the transactions?
    English Posté 2016-07-15 06:56:34 par Dan 1
  • a voté pour ce Elément (J'aime)
    Lets seems promising as a medium of exchange if it is decided that a new currency is too hard to develop.
    English Posté 2016-07-15 06:47:45 par Dan 1
  • a voté pour ce Elément (J'aime)
    The great thing about the LETSystem is that it treats money as a unit of measure or a type of score-keeping system rather than a scarce commodity. As such, LETS credits are not articificially scarce, but always sufficient to the needs of the transacting parties.
    English Posté 2012-09-25 02:52:04 par Jordan Bober

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