Local Exchange Trading Systems

Local exchange trading systems are what they sound like: they’re local, systemic, and a place where people trade goods and services.

Local exchange trading systems aren’t limited to the barter economy setup; they can opt for a currency of their own used to trade in the local exchange trading system. Those in local exchange trading systems are all about ways to support local communities.

Every local exchange trading system has its own rules, but since they’re more about the community and people than they are about being hoity-toity or maximizing profits, they can include more lax rules than exist in the general economy, like IOUs. Even though they seem casual, most local exchange trading systems are very organized, tracking members, any dues if there are any, and all transactions and IOUs.