TOTNES POUND
Alternative local currency in Totnes, a town in Devon, United Kingdom, which is used to support the local economy. Initiated by the Transition Town Totnes Economics and Livelihoods group, its value is equivalent to one pound sterling. The currency was launched in 2007 and backed by the British pound held in a bank account. The launching group believes economic localization is a key aspect of the transition process, and providing a local currency can strengthen the local economy while preventing the money from leaking out.
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