Last local currency in UK comes to an end after 17 years

Lewes Pound, Britain’s last survival local currency, is officially stopped in the midst of the increase in cards and digital payments, including 16 years of circulation, including local alternatives.

Sunday, August 31, was the last day when the currency, which works like a coupon, was valid in participating stores and enterprises in the town of East Sussex, and pointed out the end of a bold experiment in the community economy.

Lewes Pound, which was initiated in 2008 as a response to global financial instability and environmental concerns, is designed to promote the support of the local business in Lewes. At the summit, he accepted more than 100 shop currencies and became a symbol of the flexibility and sustainability of the base.

The notes were available in £ 5, £ 10, £ 20, and £ 21, as well as sects and philosopher Thomas Paine, as well as local ground signs in design.

Cash that constitutes about half of the UK transactions in 2009However, until 2019, it had fallen to only one quarter. The team behind the Lewes Pound showed a similar decreasing demand between logistics challenges as the main reasons for reducing the initiative as well as the rise of digital payments and card transactions.

Susan Murray, Director of Lewes Pound Independent: “Lewes Pound was a local free currency established to support local independent jobs in Lewes and to celebrate Lewes and everything that was good.

“[It’s demise] It’s really sad, “he said.” Yesterday was the date of the last issue expired, which meant that if we wanted to continue, we had to solve the designs and security and security for a new problem. However, it is not worth doing this for less than five years. We’ve been working on it since 2008 and we’ve done steam. It seemed really hard to find some people to take it, but unfortunately it was not possible. “

He argued that Covid-19 plays a role in changing the relationship with Lewes Pound as a cash and consequently. “I know they used Lewes Pound regularly during the pandemic people I know, using cards, so it definitely has something to do with it.”

Authorized, “about 10,000 £ funds” Lewes Pound behind the philosophy behind the hopes of new things will be donated to local organizations, he said.

Lake District in London, Bristol, Exeter, Stroud and Brixton in London with the local currency in Totnes, but none of the schemes are currently in cash.

The inhabitants of Lewes are invited to change the remaining notes or to keep them as memories of a unique part of the British money.