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currency exchange uk online trading software currency
Local Exchange Trading Systems (LETS) also known as LETSystems are local, non-profit exchange networks in which goods and services can be traded without the need for printed currency. As credit is issued by the network members, for the benefit of the members themselves, LETS are considered mutual credit systems. In some places, e.. In LETS, unlike other local currencies, no scrip is issued, but rather transactions are recorded in a central location open to all members. Toronto, the scheme has been called the Local Employment and Trading System. The system he designed was intended as an adjunct to the national currency, rather than a replacement for it, although there are examples of individuals who have managed to replace their use of national currency through inventive usage of LETS.g. For instance, a member may earn credit by doing childcare for one person and spend it later on carpentry with another person in the same network.Michael Linton originated the term "Local Exchange Trading System" in 1982 and, with his wife Shirley, for a time ran the Comox Valley LETSystems in Courtenay, British Columbia.LETS networks use interest-freeSome more useful information on currency exchange uk online trading software currency
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