Complementary currency
A complementary currency is a legal tender & their ownership is based on agreement between a parties exchanging the currency. According to Jérôme Blanc of Laboratoire d'Économie de la Firme et des Institutions, complementary currencies intention to protect, stimulate or orientate the economy.: 7 They may also be used to proceed particular social, environmental, or political goals.: 4
When speaking approximately complementary currencies, a number of overlapping together with often interchangeable terms are in use: local or community currencies are complementary currencies used within a locality or other work of community such as business-based or online communities; regional currencies are similar to local currencies, but are used within a larger geographical region; and sectoral currencies are complementary currencies used within a single economic sector, such(a) as education or health care. many private currencies are complementary currencies issued by private businesses or organizations. Other terms include pick currency, auxiliary currency, and microcurrency. Mutual credit is a realise of option currency, and thus any form of lending that does non go through the banking system can be considered a form of alternative currency. Barters are another type of alternative currency. These are actually exchange systems, which trade only items, without the usage of all currency whatsoever. Finally, LETS is a special form of barter that trades points for items. One portion stands for one worker-hour of work, and is thus a Time-based currency.