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After the Crash, or ....
what to do when the core group finally go home!

What is A Registry?

First and foremost, it is a way of meeting the diversity of local needs using multiple local currencies.
A registry does this by providing operational support for:

Registration: A record of account holders through registration of their unique name-tags, identifiers, I.D.'s.
A primary community currency, via a LETSystem i.e. one that can be used by all account holders in the registry.
Access to multiple special LETSystems (multi-LETS)
A competent accounting base for the account holders.

In a LETShell it is a very effecient part of the LETSystem design which allows account holders to participate in as many LETSystems as they wish, or indeed to start new systems as and when they are needed, in a cost effective, practical and intelligent manner, which is sustainable from the outset.

What is multi-LETS?

Multi-LETS, quite simply, refers to the many LETSystems that will be seen to spring up if local diversity of need is to be met, within a registry/community.

Every account holder in a Registry will be a member of the registry LETSystem, this system provides the primary currency, one which may be used throughout the community by all in the registry. This allows for trading across town, or city or even across a county, without any intertrading, and generally for one fee.

In addition to this you may also hold an account in any or all of the other systems that are participating in the registry in that community. You also have the option of starting your own system.

By registering this system you will be able to use the registry administration to have your systems accounts done for you.

Why do we need registries /multi-LETS?

Much energy has been given to discussions about the RIGHT way to operate a local currency.

This seems to derive from a belief that one local currency can in itself correct the problems caused by the dependence of an economy on a single national currency. When you think about it, this is totally unreasonable. There is absolutely no reason to suppose that any one formulation of a local currency will optimally meet everyone's various needs.

The task at present then is to open channels through which all sorts of systems can co-exist in the same community with the minimum confusion and maximum benefit. A registry/multi-LETS, has been specifically designed to accommodate this situation in a manner that respects the integrity of the individual and therefore ultimately the community as a whole.

Registries/multi-LETS allow for a broad spectrum of systems ranging from the mainstream, sterling based, tax accountable systems serving large and small populations, to equal hour networks, and others, almost totally informal but very friendly, to live together under the same roof of the accounts base.

How much of our energy we circulate through each of our accounts will depend only on our personal needs and interests.

We now have an opportunity, through the design and implementation of what has been termed "multi-LETS", which includes the introduction of registries, to meet the diversity of needs within the community.

Whether we initiate them or not, registries will happen in one shape or form or another. Our recommendation is simply; that we prepare for the inevitable. There is only one issue of practical interest : the quality of the accounting services emerging to meet the needs for maintaining multiple accounts.

Adapted by J. Winkworth
from: LETS DESIGN Manual v.1 Feb 1994
by Michael Linton & Angus Soutar

A typical registry

With multi-LETS it will be seen that account holders are able to participate in several systems within the registry, without intertrading, and for just one account opening cash fee. This is a one off fee to pay for the paper, printing, and postage of your statements.

Cheque processing charges are made on a cost of service basis which means you pay only for what you use and you pay in local money, not cash. This is usually 0.10 - 0.20 of a unit per cheque, and is to pay the people who do the work. All account charges are made in the primary system. If you would like to know more or have any queries contact us at LETS-Connect.