the bristol £

cm1179

cm1179

cm1179

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http://www.bbc.co.uk/news/uk-england-bristol-19627592

how do you feel about this? pointless or a good idea.

i think it's a good idea as i'm all for keeping money in a small community and it will be interesting to see how it will work in a city. i think it could be flawed though as it surely has a limited life span once the appeal wears off as it's not exactly convenient.
 
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replaced link with a bbc link

tl;dr. the bristol £ is essentially a unique currency that can only be used in small, independent shops in the city of bristol.
 
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.

But other local currencies have never really taken off, so can the Bristol scheme really fly?

Local 'locked in'
Ciaran Mundy has been working on the scheme for three years now. To him, this is much more than just a local curiosity.

He said: "If you lock the money into the area, rather than it going into the international finance system then you keep more money actually working in the city here."

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.

Bristol has a proud history of independent thinking and, like many cities, there are plenty of shops who claim to use local suppliers. But how do you know? Now if a cafe accepts your payment in Bristol Pound, you know they are either going to buy local or pay the penalty.
Click to expand...

Here ya go.

Can't see it ending well myself.
 
Interesting but whether it'll be anything much more than a curiosity is another matter. Having links to online options might help but one of the major benefits to (and indeed a large point of) a standardised currency is the ability to use it anywhere rather than being limited to a geographical area. I'm happy to support my local shops where I can but to be locked into purchases with them isn't especially appealing.
 
People should choose to use local businesses based on the products/services that they offer, not because their money won't be taken elsewhere.

Stupid idea.
 
I saw the report on the news at lunch. I assumed there was a benefit to use it at local shops, ie £1 = B£1.20 or something. I don;t see the point if there's no incentive.
 
I'd use it if you got more for your Bristol £ than sterling but it just seems like a bit of a novelty at the moment.

I don't like carrying money around anyway, let alone two types.
 
unless you get items/services cheaper in bristol using this currency what is the point?

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.
Click to expand...

This just sound like punishment for local shop owners who dont conform to the new currency
 
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