LETSjärjestelmät

LETSjärjestelmät, or Local Exchange Trading Systems, are community-based mutual credit trading networks. These systems allow members to exchange goods and services without using traditional money. Instead, a local currency is created and managed within the LETS group. When a member provides a service or good to another member, they earn credits in their account. Conversely, when they receive a service or good, credits are debited from their account. This creates a closed-loop system where the total amount of credits in circulation is always zero.

The primary goal of LETSjärjestelmät is to foster local economies, build community resilience, and provide a means for people to access goods and services that might otherwise be unaffordable. They encourage the utilization of skills and resources that might be underused in the conventional economy. Transactions are typically recorded and tracked by an administrator or through a shared ledger. Participation is voluntary, and members define the range of goods and services they are willing to offer and accept. LETS systems can vary in size and scope, from small local groups to larger regional networks.