Community Currency

Anything, to be used as money, must satisfy money’s 3 requirements:

money is…

…a Medium of Exchange: currency must be transportable & easy to use in commerce.

…a Unit of Account: currency must be divisible without destroying its value.

…a Store of Value: currency must have a stable value and not subject to decay.

After a thorough evaluation of HOURS, Timebanks, Local Exchange Trading Systems, BerkShares and the American Open Currency Standard, the GoLocal Dallas team decided that only the AOCS Community Currency model satisfied the key metrics of money AND the requirements of a monetary system that promotes local economic development. While the alternatives promote local spending, none did anything to create a stable system that could be flexibly used in an American capitalistic environment.

The GoLocal Dallas Community Currency uses old-fashioned tokens minted from investment-grade .999 fine silver. Silver is a store of value, an equivalent of wealth produced, regarded by civilization for thousands of years as “money”. Our tokens, called many different names, can be either earned or bought. They can not, however, be created from thin air and will never be worthless. Further, the tokens are AOCS Approved and can be exchanged with other local trading systems.

Acceptance of the Community Currency is not a requirement of GoLocal Dallas Merchants. We welcome anyone to our team that has a willingness to barter, either directly or through the local currency.