This idea of the "towncoin" is good one, and if the technical issues
can be overcome, I see a huge potential. Small towns all over
American (and the world) could effective implement this as way
to keep the economies viable even with the collapse of the dollar.

If a town were to issue their own "bitbills" it could become a
local system of exchange among the merchants.

LETSystems often have all of the problems confronting any voluntary,
not-for-profit, non governmental, community based organisation. LETS
organizers often complain of being overworked, and may suffer burnout.
Many schemes have ceased operation as a result. Many of these problems
can be overcome through the use of Bitcoin. Moreover, the value of local
money is greatly enhanced if it can be converted and spent elsewhere.

I could see a day when various communities issue "Towncoins" in the
form of physical "bitbills" and then individuals can use this money in
the local economy or over the Internet. If the idea were to catch fire
we would see a rapid adoption the of the Bitcoin worldwide.

I, for one, would like to see this move forward.