North Coast Community Exchange makes return to Ballycastle

A GROUP of like minded local people have come together to help revitalise the community as they set up a North Coast community exchange system (CES) which would see people exchange all kinds of goods and services with one another, without any money changing hands!
Pauline Hart, one of those involved in the exchange scheme, also knows as LETS (Local Exchange Trading System) told the Chronicle about the successful meetings already held across the Coleraine area and said she is really looking forward to introducing it in the Ballycastle area.

NO MONEY EXCHANGES HANDS

Pauline explained: “This is a marketplace where goods and services are exchanged. The system is based on mutual credit: if you get something from someone, you commit to provide something for someone else in the network.
“When there is a transaction between two people, there is an acknowledgement that something has happened, with a payment using the 'Waves' community currency instead of cash. No money will ever change hands, it's all about keeping items out of landfill and exchanging services where members of the community help each other out.”
So, how does it work?
The main object of the CES is to facilitate trade and exchange by providing a range of non-monetary exchange tools. This helps to build community by connecting people and providing a local support network.
Although the CES is internet-based, it also works for those who do not have computers or smart phones.
Each user gets an account number and a password, and this gives them access to their account on the CES web site. The site works like a true online banking service. Users can enter transactions, view their current balances and obtain statements of account. They can also keep track of the trading position of others.

For more see this week's Chronicle