The modern history of community currencies truly began in the early 1980s with the advent of information technology and in response to the economic hardship of the 1970s. Michael Linton, in British Columbia, Canada, originated the currency concept of Local Exchange Trading Systems (LETS) and designed a networking computer programme to support them.
Linton’s software allowed community members to easily log and share their offers and wants, as well as record transactions between them. This innovative model took hold around the globe, most prominently in the 1990s. LETS have since become the flagship community currency for many
- LETS - Time-based currencies - Trueque
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