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LETSystem Trust
Did you know that 'LETSystem' is now a trade mark and, along with the LETSystem design, will be intellectual property held in trust by the LETSystem Trust. The LETSystem Trust is being created to hold and protect the LETSystem design and other related materials for the common wealth. As the LETSystem is a clearly defined design this will at last bring clarity to the world of LETS. The property lodged with the trust will be available to be used by all the trust beneficiaries and licensees.
Possible threat to Oz LETSystems?
The Australian Securities Commission proposal to legislate in order to control the commercial barter system and this may have some negative spin-off for Australian LETSystems. The proposal concerns Electronic Commerce in the Financial Service Industry which LETS might fall under. If they do then contacts in Australia say 'the possible implications for LETS range from LETS being made illegal, through imposing what would be a defacto upper limit on growth, or it may have no effect whatsoever.'
We will have to wait and see.
Heard about the Eku?
The soon to be formed East Kent Registry has the Eku (East Kent Unit) as its primary currency.
There are at present three LETSystems in the East Kent area and several more in the pipeline. By using the same accounts base provided by the Registry people in neighbouring systems will be able to trade with each other using the Eku. This facility will preserve the essential independent features of all the systems and their integrity. Administration for all the systems will be greatly simplified and remain quite straightforward for individual users.
Once established, the registry will enable new LETSystems in other parts of East Kent and elsewhere to develop autonomously with their own identity whilst maintaining harmonious social and economic links throughout East Kent.
Gloucestershire Artists try LETS
A pilot project involving linking together artists, suppliers, venues etc. throughout Gloucestershire is to use the LETSystem design.
The project called the 'Arts Training Cake' hopes to utilise the many skills and talents that lie untapped and hidden because of a shortage of cash. By using the LETSystem they intend to establish a sustainable network which will provide greater access to the arts for all.
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Last Revised 19 July 1996 by Nigel Stewart