Two weeks ago, I met a woman from the Burlington Currency Project. She explained an interesting endeavor designed to keep local dollars, local. I had to listen to more...

When talking with the representatives from the Burlington Currency Project (I believe it was Cara Taussig, the Executive Director) the project became crystal clear in my mind.

The idea is this: Local businesses participate in accepting a "local" currency called Burlington Bread. Consumers purchase "slices" or bills of this currency with the caveat being that only certain "local" businesses will accept them.

You can purchase "bread" and you can earn bread for your skills and labor. There is a very long list of participants, ranging from craft workers to optometrists. So you have the basis for a very powerful bartering system in place. The curency may not be nationally accepted legal tender, but within the confines of the Burlington community, it is backed by good will.

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DIRECTLY FROM THE WEBSITE (http://burlingtoncurrency.org):

Burlington has its own currency, affectionately nicknamed Burlington Bread. It is a tool for strengthening our local economy, supporting small businesses, and encouraging exchange between individuals in the community. Because the currency can only be used locally, it encourages people and businesses to patronize one another, keeping wealth and resources local. It is a way to expand the local money supply, promote local shopping, and build awareness of the interdependence of all members of our community.
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Since bread has no value outside of the participating businesses, it is an ideal way to keep local dollars local. The thought being that you earn this local currency, spend the currency locally, then repeat as often as desired. This is great for keeping the money "at home."

I like it in concept, but I think there is one major thing keeping it from exploding onto the scene... incentive. Is it easier to use than U.S. currency? Is it more valuable? Will it be around one year from now? What recourse do I have if it is no longer used and I have a ton of it? Can it be easily forged? While members are encouraged to offer "bread" discounts, I am not yet certain that they have to. I need to know the complete up side other than a good community building currency concept.

I strongly suspect that this approach to barter-networks give the contributor and consumer more control than that of a traditional barter network and that will definitely be more popular amongst the seriously civic-minded.

These folks have been around since the late 90's and have a decent list of participating businesses to offer.

Check out the website, decide for yourself whether the Burlington Currency Project is an interesting experiment or a sign of the times to come.

http://burlingtoncurrency.org/