Public or philanthropic support for currencies
Some complementary currencies receive support from governments, philanthropic organizations, or NGOs to help sustain and promote their initiatives. Here are a few examples of complementary currencies that have received backing from external sources: 1. **Bristol Pound (United Kingdom):** The Bristol Pound, a local currency in Bristol, England, has received support from the Bristol City Council and various local organizations. The council accepts Bristol Pounds for certain services and actively promotes the currency to stimulate local economic activity. 2. **Chiemgauer (Germany):** The Chiemgauer regional currency has received support from local governments, businesses, and cooperatives. This backing has helped establish and maintain the currency's acceptance and circulation within the community. 3. **Sarafu Network (Kenya):** The Sarafu Network in Kenya has received support from various NGOs and development organizations to promote financial inclusion and stimulate economic activity in rural communities. External funding has been instrumental in launching and scaling the Sarafu digital currency. 4. **WIR Franc (Switzerland):** While not directly backed by government or philanthropic organizations, the WIR Franc in Switzerland operates as a complementary currency established by a cooperative. Its resilience and success over the years have been attributed to the cooperative model and the support of its members. 5. **Time Banks:** Time banking systems, such as Time Dollars in the United States, often receive support from local governments, community organizations, or foundations to help sustain their operations and promote community engagement through time-based exchanges. These examples demonstrate how external support from governments, philanthropic organizations, and NGOs can play a crucial role in the success and longevity of complementary currency initiatives, enabling them to achieve their social, economic, and community-building objectives.