Palace traders consider cashing in with their own currency

The local Chamber of Commerce is to discuss launching a special currency for Crystal Palace at its regular meeting tomorrow night.

Brixton has been using its own "currency" to keep trading local. Could a "Palace Crystal" work?

Brixton has been using its own “currency” to keep trading local. Could a “Palace Crystal” work?

The idea of a local currency for Crystal Palace would be to keep the money “sticking” in Crystal Palace. It is an idea which adapts and extends local trading and barter schemes and has already been introduced in other neighbourhoods, such as Brixton.

“It would be designed to help protect jobs and livelihoods of community members within Crystal Palace through developing a strong local economy,” a spokesman for the Crystal Palace Chamber of Commerce said.

“We are going to be discussing the possibility of Crystal Palace having its own currency – the Palace Crystal – along the lines of similar schemes in Brixton and Bristol,” said Paul Bartholomew, the chairman of the CPCC.

“It could raise Crystal Palace’s profile regionally and nationally and contribute to positive perceptions of Crystal Palace by drawing attention to its strong community, diverse economy and capacity for innovation.”

Guiding the chamber through the world of alternative currencies will be Leander Bindewald, a project manager on complementary currencies at the New Economic Forum.

Bindewald is involved with Community Currencies in Action, an EU co-funded collaboration project across north-west Europe. You can read more on this on the NEF blog.

Tea, coffee and sandwiches will be available at the meeting at the Phoenix Centre, Westow Street SE19 (to the left of Sainsbury’s) which starts at 6.30pm.

  • Guests are welcome to attend but are requested to email the chamber in advance so their name can be added to the attendance list:

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6 Responses to Palace traders consider cashing in with their own currency

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  2. mraemiller says:

    So who’s going to set the exchange rate and interest rates of all these “local” currencies financed by the EU? All that time and money they spent standardising everyone to the Euro now suddenly they want a whole new set of “local currencies”? Why? Getting us ready for the break up of the Euro? Trying to undermine the Pound? What gives? Someone with a lot of time and money has gone to a lot of effort to set up what looks like a lot more than a local voucher scheme to me. Why?

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  4. Oh dear! here we go again. Like putting make-up on a corpse, here’s another bunch of lifestyle traders who think they can save their shopping parade with a none-too-original loyalty scheme – launched at the start of the most important trading period of the year.
    The scheme coincides with the release of figures that show on-line shopping is rising by 16 per cent, year on year, with click and collect being this year’s big winner.

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