The City of Light may soon become the 5001st local currencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More in the world as the association Une monnaie pour Paris (A currency for Paris) negotiates with City Hall about its launch. The currency, that could be called La Seine (as the river that crosses the French capital), would be launched in the Fall of 2017.
The association’s president, Lucas Rochette-Berlon, believes that local currencies are the best way to respond to unemployment issues as it gives people the power to boost the local economy in a globalized world.
These currencies are experiencing a growth in popularity. In the past five years at least 30 have come to life in France alone. Complementary currencies, as they are officially called, are not meant to overrun national ones but simply to work in parallel in a defined area or region. The purpose of these local monies is to encourage local production and consumption, feeding local economies and supporting artisans and small shopkeepers.
The movement is greatly supported by consumers who are increasingly concerned about the origins of their purchases. Through this local moneyFrom the Latin word moneta, nickname that was given by Romans to the goddess Juno because there was a minting workshop next to her temple. Money is any item that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular region, country or socio-economic context. Its onset dates back to the origins of humanity and its physical representation has taken on very varied forms until the appearance of metal coins. The banknote, a typical representati... More, they will be guaranteed products 100% Made in France.
The project will require good coordination and impeccable logisticsThe term originates from military language and refers to the movement and provisioning of troops at war. In today’s business vocabulary, it refers to the management in particular, the transportation, storage and distribution of finished goods. More as the Parisian territory covers 105 km2 for over 2,2 million inhabitants. The other challenge the initiative faces is the red tape of the French Administration, contrary to similar projects that have flourished in England and Germany.
Although Paris City Hall is currently collaborating and supporting Une monnaie pour Paris, the association is expecting to finance it through a crowdfunding initiative to preserve its full independence.
To read Télérama’s full article [in French], please click here.