From Wikipedia, the free encyclopedia
Alternative currency is a term that refers
to any currency used as an alternative to the dominant national or multinational currency systems (usually referred
to as national or fiat money). Alternative currencies can be created by an individual, corporation, or organization, they
can be created by national, state, or local governments, or they can arise naturally as people begin to use a certain commodity
as a currency. Mutual credit is a form of alternative currency, and thus any form of lending that does not go through the
banking system can be considered form of alternative currency.
used in combination with or when designed to work in combination with national or multinational fiat currencies they can be
referred to as complementary currency. If the use of an alternative currency is limited to a certain region, it is called a local currency.
there are issues related to paying tax. Some alternative currencies are considered tax-exempt, but most of them are fully taxed as
if they were national currency, with the caveat that the tax must be paid in the national currency. The legality and tax-status
of alternative currencies varies widely from country to country; some systems in use in some countries would be illegal in
Examples of alternative currencies
Category:Electronic currencies, such as digital gold currency.
United States Private Dollar a unique currency backed by the total net worth of the TUC - The United Cities network.
Calgary Dollars and Ithaca Hours are two local currencies.
Toronto Dollars are an example of a backed local currency. Also GobeGold a new approach with currency unit backed
up by trees GobeGold
LETS, an example of Mutual credit, is a type of local currency used in a number of small communities worldwide.
the Great Depression, people and corporations used gift certificates as a form of currency.
Time Dollar is a state-sponsored alternative currency in the U.S, designed to encourage the independence
and productivity of welfare recipients.
Liberty Dollar is a private currency backed by silver, and is designed to be the nationwide alternative currency in the United States.
Millennium Dollars are a private currency backed by US Treasury bills and cash investments, designed to have a constant "real" value and
hence act as a hedge against inflation or deflation.
clubs or corporate barter organizations are an example of alternative currency systems.
Fourth Corner Exchange