With Open-Transactions servers (especially once Fellowtraveler implements federated/no-trust server protocol) individuals should be able to issue their own currencies, backed in bitcoin (for things like commodified trust-tokens) or whichever consumable/commodity they choose
For example, if I have involvement in my community, and people know the amount of fruits/veggies that I bring to the farmer's markets during summer/fall, then I can issue a currency backed in my produce (and dried/canned goods during the off-season). For larger, non-geographically-local communities, it can be backed in bitcoin (since the blockchain is publicly auditable, the reserves can be verified, but because OT uses blinded tokens, all transactions are untraceable. Only when one goes to the issuer to redeem the currency token for bitcoin does the exchange show in the blockchain again)