The Bristol Pound, £B - what a story! Dunedin Dollar, anyone?! Today I met with Stephen Clarke, one of the three acquaintances who, over a beer in a pub, resolved to look into a local currency for Bristol. That was back in 2009. Less than two years on from the formal launch there are a bunch of beautiful notes with designs crowd-sourced from the community; hundreds of thousands of £B in circulation; over 650 businesses receiving and trading in £B; the Mayor takes his salary in £B, local businesses can pay their rates in £B, and as a tourist in Bristol, I today managed to pay for everything (including my bus fare) in £B. Theyre under no illusion that its a job done, however - theres still a long way to go before this is the currency of choice for all local residents. But as local currencies go, its a hugely impressive first 18 months. The most innovative thing about the £B (and in Stephens view, the thing that has made the £B successful to date where other local currencies have struggled) is that theyve set up TXT2PAY. That means its entirely possible to trade in £B without needing physical notes, meaning ease of trading for individuals and businesses alike. Today Stephen paid for our coffees by text - an immediate notification was sent back to his phone and to the stores phone, saying the the transfer had gone through. Not content with the success of TXT2PAY, the £B team are in the Beta testing phase of an app that will enable a streamlined payment system as well as a £B directory/map/information service, all in one handy (virtual) location. As a visitor, the £B has contributed a lot to my Bristol experience. The first thing I did was pick up some £B and one of the newly launched £B Tourist Guides, which basically lists all the £B traders in the CBD, along with a handy map. Ive been jumping from one awesome independent local business to the next, and have a much more interesting experience because of it. And like a bunch of other visitors, Ill probably be taking some notes home with me too... There is so much to tell about todays meeting with Stephen - a FB post simply cant do it justice - but suffice to say he and the team at £B are keen to be as generous with their hard-won wisdom as they can be, to help other cities develop local currencies too. Over the next couple of years theyre intending to support pilots in several other UK cities, using a social franchise model (£B is a not-for-profit). The story as told by one of the other founders: bristolpound.org/blog/2014/02/11/the-story-of-the-bristol-pound/ Whats the point? bristolpound.org/whyjoin Sans reading: m.youtube/watch?v=QtGEby4ORGM A broader view on the value of local currencies: theguardian/local-government-network/2013/jun/17/bristol-pound-local-currencies
Posted on: Sat, 05 Jul 2014 00:00:39 +0000
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