Bristol launches local currency

Local currency

The UK city of Bristol is launching its own currency, according to the BBC. Unlike similar local currency schemes, the Bristol Pound, as it has been called, can be used online and via mobile phones. The idea is to help local traders by issuing money which customers can only use in their shops. In turn, customers know that the shop must then buy its stock from a local supplier, or pay a 3% fee to convert the Bristol Pound back into sterling.

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