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  • 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 hundred people.

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 interest!
  • 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.