Other Towns That Have Launched Their Own Currency

Towns in other countries hammered by the pandemic have taken similar measures.

The Italian town of Castellino del Biferno (population 550) started printing a local currency called the Ducati in April.

In Mexico, the town of the Santa Maria Jajalpa (population about 6,000) has created a new currency, “jajalpesos,” that residents can use to buy local food.

Historically, there’s a strong connection between hard times and the emergence of “community currencies,” visiting Boston University professor Jim Stodder told the Washington Post. “Any time we have a serious downturn in which people are short of money, these things tend to pop up,” he said.

Usually, they stick around for a few years or less and then die out. But some live on. Most notably in the U.S. a community currency called BerkShares has been used in western Massachusetts since 2006.

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