Louis Pound – UK’s last living local currency – officially being closed after 16 years of circulation, between growing Card and digital payment As a result of a decrease in demand for cash, including local options.
On Sunday 31 August, the last day was the currency, which used to act as a voucher, was valid in the participating shops and businesses. East Sussex City, marking the end of a bold experiment in the community Economics,
Launched in 2008 as a reaction to global financial instability and environmental concerns, Lewis Pound was designed to encourage local trade support in Lewis. At its peak, more than 100 shops accepted the currency, and it became a symbol of flexibility and stability at the ground level.
Notes were available in £ 5, £ 10, £ 20 and £ 21 sects and philosophers were specially displayed Thomas pineAlso local site on design.
About half of the UK transactions in 2009But it had fallen to just a quarter by 2019. The team behind the Lewis Pound cited the decline in demand between logical challenges as important reasons to reduce the initiative along with the rise of digital payments and card transactions.
Susan Murray, a director of Lewis Pound, told Independent: “Lewis Pound was a local graceful currency that was established in Lewis to support the local independent business and the good thing about it to celebrate everything.
,[It’s demise] Really sad, “He said.” Yesterday was the date when the final issue was over, which meant that if we wanted to continue, we would need to go through the whole thing of design and printing and safety for a new issue. But it will not be worth doing for less than five years. We have been working on it since 2008, and we exit the steam. We looked really difficult to find some people to take it, but it was not possible, it was very sad. ,
He suggested that Kovid -19 also played a role in changing people’s relationship with cash and resulting in Lewis Pound. “During the epidemic I know that I was regularly using Lewis Pounds, will be in the market using the card, so it is definitely found to do something with it.”
He said that the remaining funds, around £ 10,000, would be donated to local organizations, “Share the philosophy behind the Lewis Pound in the hope that new things will come out of it”.
Last experiments with local currency have been performed in Totness in BRICSTON in Devon, Lake District, Bristol, Exeter, Straw and London, but currently no plans are currently operational in cash.
Louis residents are invited to exchange any remaining notes or to keep them as a memento of a unique chapter in British monetary history.