- Why LETS?
- LETS currency does not have interest/inflation.
- There is no lack of money.
- There is no need or incentive to wast your time trying to hord it.
- It does NOT lend itself to greed and/or curruption.
- It builds and empowers the communities that use it.
- It is sustainable.
- Why WebLETS in particular?
In my studies of Local Exchange and Trade Systems, it seems that the most
common way to run a LETS in on paper. This requiers a staff of two or three
people min. working full time updating account records to support even a few
As I'm not a fan of paper work, I think an electronic system that automates
much of the 'paper work' and distributes the dataentry work such that it
becomes trivial, is a better way to go. And it seems to me that any
software that is used for public infestructure has to be Open Source. That
was the biggest failure of electronic voting machines, the software was
closed source and no one could varify that it worked correctly and that
elections were no being rigged. And lastly, there is just not a lot of LETS
software to be found, and no others that are Open Source that I found.
- Why not just use 'normal' money?
- It has interest and therefore inflation.
- One must spend the better part of ones life chasing it.
- One must have it in order to spend it, or pay interest, lots of
- It is what underlies to greed and curruption.
- It strains and disempowers the communities that use it.
- It leaves communities subject to economic down turns, even if the
cause was not local.
- In short, it is not sustainable.