How distributed #technology can help regional currencies
▻https://hackernoon.com/how-distributed-technology-can-help-regional-currencies-2b8341c23b59?sou
Typically, the creation and use of regional (or local) currencies is initiated by their respective communities — that is, from the bottom up. Central governments, represented by central banks, facilitate (ostensibly) their systems. But they often prohibit the circulation of regional ‘certificates’, bills or other forms of money, arguing that these can devolve control over national monetary systems. At the same time, governments are often unaware of the economic effects of introducing local currencies.The use of a local #currency not only stimulates the local economy but also creates stronger ties within that community by increasing social capital. Generally, internal trade through the use of regional currencies is a resilience strategy. It can reduce the impact of national or even worldwide (...)