Cryptocurrencies attract a lot of attention at the moment and yet they are not the only ones to be in expansions. Local currencies are also experiencing a real boom.

The way Cryptocurrencies work is not that different from their cousins the Local Currencies and comparing them will help you understand what really is a cryptocurrency (and a Local Currency).

The objective of Local Currencies is to promote the development of local activities by creating a parallel economy where goods and services corresponding to a certain charter are exchanged against a unit of local currency. It has been demonstrated that 98% of the value created locally and paid in national currency (in euros for example) is recovered by Financial markets and markets speculation without benefiting to the inhabitants who have created it. By putting in place a local currency, the inhabitants of a locality (city or villages) decide to create an ecosystem separated from to the national economy which will retain the value created locally.