Sunday, April 19, 2009

First Complementary Currency for Australia

The Baroon Dollar ($B) is a local currency launching in June 2009 in the Sunshine Coast Hinterland in Queensland. It is Australia's first paper-based community currency that is backed by the national currency. The Baroon Dollar is the brainchild of the Australian Institute for Community Currencies Inc. and Sustainable Maleny.

The Baroon Dollar is a creative yet practical way for local people to make money work for the Sunshine Coast Hinterland. Money spent locally circulates within and benefits the local economy. Money spent in national chains doesn’t. The Baroon Dollar encourages demand for local goods and services. In turn this builds resilience against the rising costs of energy, transport and food.

How does it work?
· Buy Baroon Dollars at distribution centres
· Spend Baroon Dollars with participating businesses
· Ask for Baroon Dollars in your change
· Accept Baroon Dollars yourself for gifts, goods and services
· Keep them circulating!

Community currencies are a simple but effective strategy to GO LOCAL by:

  • strengthening the local economy by increasing local buying
  • keeping your money working and circulating locally
  • creating new opportunities for employment and innovation
  • supporting community projects from a central fund
  • bringing decision-making back into the community
  • growing our sense of community and well-being

1 comment:

  1. Go Baroon Dollars! A great idea we really need this.