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UK City Launches Own Currency: Smart or Silly?

JMCC 2012/09/19 12:00:06
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It is a direct assault on global trade. The city of Bristol has launched its own currency, which cannot be used in Bath, never mind Berlin or Bombay.

More than 350 firms in the city have signed up, making it the UK's largest alternative to sterling.

Unlike previous schemes which have relied on paper, the Bristol Pound can be used online, even by mobile phone.

The idea is to help local traders by issuing money which customers can only use in their shops. In turn, customers know that the shop must then buy its stock from a local supplier, or pay a 3% fee to convert the Bristol Pound back into sterling.

The new notes feature holograms and gold foil with security numbers etched in by laser

Ciaran Mundy hopes to hit the £6m turnover level soon: "We should reach that next year, and go well beyond it. We're ambitious for the Bristol Pound."
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  • 3052457 2012/09/19 19:55:06
  • Swampdog PWCM 2012/09/19 13:47:20
    Undecided
    Swampdog PWCM
    +1
    Good for them. Anything to encourage individual freedom and liberty.
  • Beat Magnum True Hero 2012/09/19 13:27:48
    Silly...
    Beat Magnum True Hero
    +2
    Their loss. The pound is one of the strongest and most powerful currencies in the world.
  • actionjksn 2012/09/19 12:40:41
    Smart...
    actionjksn
    +2
    Smart; silly I don't know but I would like to see quite a few currency's start getting ignored. Plus I love to see anybody stick it to the man.
  • sickofpolitics 2012/09/19 12:33:48
    Silly...
    sickofpolitics
    +1
    Now that is just plain silly.
  • BritPunk 2012/09/19 12:17:30
    Undecided
    BritPunk
    +2
    Do they have a picture of a nice pair of Bristols on them ?
    bristol cities
  • JMCC BritPunk 2012/09/19 12:22:29
    JMCC
    +2
    Hahaha - that would make them popular...
  • TheR 2012/09/19 12:07:49
    Silly...
    TheR
    +2
    Why silly? Because the UK doesn't use the Euro anyway. So this City is making it's own currency in refute to the British Pound? But I will say it would be smart if a City in the USA did this to refute the QE-3 printing presses.

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