Supporting each other through a local network and currency

So not sure if any of you know about LETS (are local community-based mutual aid networks in which people exchange all kinds of goods and services with one another, without the need for money) and Transition (

I have always been really interested in a different way of earning & utilising income/credits.
How does it work?
e.g. X has a skill as teacher and offers personal tuition for £18 per hour she offers A the service of 6 hours of her tutoring = 6 x £18 and therefore has a banked credit of £108.00 to utilise in some form or other with another member of the community. She wants to exchange a partial amount of her credit with B who offers massage therapy and therefore uses £40 of her £108.00 leaving her a balance of £68.00 to utilise as she needs to.

These are grassroots initiatives they are open to everyone – people of all ages, skills and abilities; local clubs and associations; voluntary groups, charities, community initiatives; housing co-operatives, small businesses and local services – helping everyone to give and take, connect to new resources, and find a genuine community identity.

It would offer equal opportunities to all – whether employed or unemployed, financially secure or on low income, black or white, able or disabled. It would use a system of community credits, so that direct exchanges do not have to be made. People earn Community credits by providing a service, and can then spend the credits on whatever is offered by others on the scheme: for example childcare, transport, food, home repairs or the hire of tools and equipment.

Would anyone be interested in a system like this? It would need to be managed etc and transactions recorded. If there is any interest please respond in the thread below. Cx

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