One week to go for Exeter Pound crowdfunder

The Exeter Pound have been running a crowdfund campaign over the last few weeks to prepare the way for the community currency to go digital.

The campaign will come to an end next Monday 4th April with all money raised going towards the systems needed to create the digital currency.

So far the ‘crowd’ have pledged more than £6,000 to the project and in return will receive unique rewards such as a locally designed t-shirts and shopping bags or even the ‘Exeter Pound Mystery Box’.

Exeter launched its own paper currency in September 2015 and its reach has been growing ever since. There are now 131 local, independent businesses where shoppers can spend the local cash and 9 exchange points across the city where the public can swap sterling for Exeter Pounds, at a 1:1 exchange rate.

Exeter Pound user Chris Dent said: "I’m an architect and planning consultant, and I’ve been signed up to accept the Exeter Pound since the launch. The scheme is great, but for businesses like mine it’s near impossible to take Exeter Pounds in their current form, as most transactions between myself and clients are via direct transfer online.

"Having a digital currency will mean that I can receive Exeter Pounds from clients straight to my account, without having to deal with the paper notes.

"In Bristol, a firm of Architects is currently working with the city council, and being paid about £1m in Bristol Pounds: proof that a local currency can really embed itself in the local economy, and that it can be a tool for change"

With the digital currency, individual users would get their own accounts and be able to top them up online, then go and pay for items using an app or a text message. Users would also be able to pay online. The aim is to make the Exeter Pound even more accessible, with the digital currency working alongside the paper notes to get a wider audience.

To find out more go to the Exeter Pound website, where you can watch the crowdfund campaign video and look at all the rewards available to people who pledge.

The Exeter Pound is a local currency run by the people of Exeter for the people of Exeter and works towards creating a monetary system which supports local jobs and livelihoods and the rich variety of businesses we have here today.

Go to www.exeterpound.org.uk for more information.