How does Local Currency Work?

Frome Exchange is a mutual-credit, local exchange tradng scheme. It supports a gift economy which is fundamentally different from a cash economy. The system is based on human capital - your skills and energies - and on trust.

Unlike the cash economy your capital is not restricted to the numbers on your bank statement. So long as you have something to offer another person (and everyone does), you have capital. Since participants don't need to compete for scarce resources, it is a fundamentally co-operative trading endeavor.

The goods and services you can obtain are not limited to a single trading partner, as with barter, but rather encompass the offerings of the entire trading network. You can see the goods and services currently available in our Members Directory. You must become a member in order to trade.

The possibilities are limited only by your imagination and energy.

Next: What does Local Currency Do?