Exploring the Relationship Between Complementary Currencies and Sustainable Development: A Comparative Study
Abstract
:1. Introduction
- How do complementary currencies support sustainable development in a regional context, and what is their significance for local communities in economic, social, and environmental dimensions?
- What benefits and concerns regarding the use of complementary currencies are expressed by users of barter systems?
2. Materials and Methods
3. Results
3.1. The Role of Complementary Currencies in Sustainable Regional Development
- Individual well-being-Ensuring conditions for a dignified life, personal growth, and access to resources;
- Social cohesion and inclusion-Encouraging cooperation, inclusiveness, and equal opportunities for all societal groups;
- Protecting the future-Creating equal opportunities and safeguarding the environment for future generations.
- Combatting poverty and social exclusion;
- Promoting sustainable production and consumption;
- Reducing waste through prevention, reduction, recycling, and post-use management;
- Promoting inclusive, stable economic growth and ensuring full and productive employment;
- Developing sustainable industry and fostering innovation;
- Enhancing the sustainability and livability of cities and populated areas;
- Ensuring access to stable, sustainable, and modern energy sources
3.2. Challenges and Limitations of the Functioning of Complementary Currencies
3.3. Benefits and Concerns of Joining a Complementary Currency System from the Users’ Point of View
4. Discussion
5. Conclusions
- Supporting the local economy (complementary currencies encourage purchases from local businesses, which can contribute to regional turnover and job creation);
- Building community ties (the use of complementary currencies fosters relationship building by promoting cooperation and solidarity in the community);
- Strengthening regional identity (complementary currencies can become a cultural element of a region, which helps to build the identity of the local community).
- Promoting aspects of sustainable development.
- Legal regulations-ensuring compliance with tax regulations as well as anti-money laundering and counter-financing of terrorism laws. Defining the legal framework for the functioning of the currency in circulation.
- Issuance management-developing rules for the issuance of complementary currency, linked to local resources or services, in order to ensure system stability and prevent inflation.
- Transparency and education-implementing educational activities to raise user awareness about how the currency functions. Ensuring transparency regarding the rules for exchange and use.
- Integration with the traditional financial system-ensuring the ability to easily exchange complementary currency for the national currency, as well as cooperation with financial institutions and payment systems.
- Monitoring and evaluation-regularly monitoring the system’s effectiveness and collecting user feedback, which will allow for continuous adjustments to the operational rules of the currency in response to changing market conditions.
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
Abbreviations
LETS | Local Exchange Trading System |
PHH | Pollution Haven Hypothesis |
NGO | Non-governmental organization |
SME | The small and medium-sized enterprise sector |
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Country | Name of Complementary Currency |
---|---|
Argentina | Argentino, Patacón |
Austria | Wörgl |
Belgium | Blés, Buurtijd, Carol’Or, Eko-Iris, LimbU, Zinne, Res, Talento, Torekes |
Brazil | Banco Palmas, Curitiba Bonus |
Canada | Calgary Dollar, Canadian Tire, Kawartha Loon, LETS, Toronto Dollar, Unity |
Czech Republic | Křižánecka koruna |
Denmark | Artmoney, Løn |
El Salvador | Punto |
France | Abeille, Cairn, Doume, Eusko, Gonette Pêche, L’Abeille, Roue, Sol-violette |
Germany | Bethel-Euro, Chiemgauer, Donautaler, Rössle, Sozialmarkt, Sterntaler, Wära |
Greece | Ilios, Kaereti, TEM |
Hungary | Balatoni Korona, Bocskai Korona, Soproni Kékfrank, Tokaji Dukat |
Italy | Banca del Tempo, Ecoroma, Simec |
Japan | Fureai Kippu |
Kenya | Bangla-Pesa, Eco-Pesa, Sarafu-Credit |
Luxembourg | Beki |
Netherlands | Duif, Gelre |
New Zealand | Wairarapa |
Poland | Alterka, Dobry, Barterowy, Piast, Pula, Zielony |
Romania | Convertible Minute |
Russia | Kolion |
South Africa | K’Mali, Ora |
South Korea | Gyeonggi |
Spain | Axarco, Demos, Ekhi, El Real, Exproncedas, Puma, Zoquitos |
Sweden | Øresund |
Switzerland | Bonobo, EulachTaler, Farinet, NetzBon, Reka-Check, Sel du Lac, WIR |
Ukraine | Nim |
United Kingdom | Bristol Pound, Brixton Pound, Eko, Lewes, Stroud Pound, Totnes |
United States | Bay Bucks, BerkShares, Equal Dollars, Ithaca Hours, Time dollars |
Venezuela | Lionza, Panal |
Name | Country | Date of Creation | The Area of Sustainable Development: | Economic Outcomes |
---|---|---|---|---|
Buurtijd | Belgium | 2014 |
|
|
Chiemgauer | Germany | 2003 |
|
|
Eco | Great Britain | 2002 |
|
|
Euskal | Spain | 2013 |
|
|
Křižánecká Koruna | Czech Republic | 2017 |
|
|
LimbU | Belgium | 2017 |
|
|
NuSpaarPas | The Netherlands |
|
| |
Pula | Poland | 2023 |
|
|
TalentO | Belgium | 2018 |
|
|
Torekes | Belgium | 2010 |
|
|
Wörgl | Austria | 1932 |
|
|
Area | Characteristics |
---|---|
Economic |
|
Social |
|
Ecological |
|
Questions | Answers |
---|---|
‘What benefits you get from barter?’ | ‘Convenience.’ ‘Much greater ease of disposition of funds.’ ‘Increases the amount of business.’ ‘Don’t have to have money to purchase goods, services.’ ‘What is best is quality and relationships.’ ‘Ease of transactions and speed.’ ‘The speed of establishing a business relationship, building trust, later already gold business and recommendations.’ ‘Convenient solution, does not require the commitment of financial resources, allows the use of other resources.’ ‘Ease of decision-making, spending resources that I wouldn’t spend elsewhere.’ ‘I like the fact that I didn’t have to commit financially.’ |
‘What concerns do you have about barter?’ | ‘I have no concerns.’ ‘No concerns-the people working together are committed.’ ‘There are no concerns-I decide what service and up to what amount I exchange.’ ‘Tax inconvenience (especially when you are a VAT payer).’ ‘I have no concerns, while there is a limited opportunity (number of participants) in expending the funds earned.’ ‘Limited supply of products that interest me-not everyone is ready for barter.’ ‘There is no concern with direct exchange, with multilateral there is a risk whether the creators, i.e., for example, the management and the board of directors will see what has been said before.’ ‘For me it’s new, so I don’t quite know how to approach it.’ |
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Konieczna, P. Exploring the Relationship Between Complementary Currencies and Sustainable Development: A Comparative Study. Sustainability 2025, 17, 3627. https://doi.org/10.3390/su17083627
Konieczna P. Exploring the Relationship Between Complementary Currencies and Sustainable Development: A Comparative Study. Sustainability. 2025; 17(8):3627. https://doi.org/10.3390/su17083627
Chicago/Turabian StyleKonieczna, Patrycja. 2025. "Exploring the Relationship Between Complementary Currencies and Sustainable Development: A Comparative Study" Sustainability 17, no. 8: 3627. https://doi.org/10.3390/su17083627
APA StyleKonieczna, P. (2025). Exploring the Relationship Between Complementary Currencies and Sustainable Development: A Comparative Study. Sustainability, 17(8), 3627. https://doi.org/10.3390/su17083627