History of LETS

Last update 2011-03-28 21:53:17 Creation date 2011-03-28 18:51:19
  • Editor
    public
    Viewer
    public
    Posted 2011-03-28 21:53:17 by HasardDuJour
  • Wikipedia
    http://en.wikipedia.org/wiki/LETS
    Founded
    1983
    Founder(s)
    Michael Linton
    Description
    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.
    Uses cryptography
    no
    API
    no
    Status of the project
    Local exchange trading systems now exist in many countries.
    Posted 2011-03-28 20:00:32 by HasardDuJour
  • Peer-to-peer topology
    no
    Description
    Local Exchange Trading Systems (LETS) also known as LETSystems 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.
    Posted 2011-03-28 19:19:46 by HasardDuJour
  • Mode
    70
    Name
    LETS
    Viewer
    unlisted
    Editor
    hasarddujour-f4dmks8
    Category
    finance
    Description
    Local Exchange Trading Systems (LETS) also known as LETSystems 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.[
    Single central authority
    yes
    Posted 2011-03-28 18:51:19 by HasardDuJour
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