ADSactly Daily
Tuesday July 25th, 2017.
"Berkshares" and Localized Economies
Part 1: An Overview
In Berkshire County, Massachusetts, a localized currency was created on September 29, 2006. The local currency, called "Berkshares” originally started out as a bit of a gimmick but has since seen adoption throughout the county and became a popular medium of exchange by everyday people in Berkshire County as a unique way to transact with the 400 businesses in the county who support the use of currency.
Photo of "Berkshares" being accepted at a local store.
Because of the innovative approach and support from the county, Berkshares has gained international notoriety and has received coverage by several mainstream news networks and journalists. The magic behind Berkshares is that it allows for wealth generated in the country to stay in the county and acted as a deterrent for Berkshire county consumers spend their money elsewhere in America. Although protectionist, the idea has been hailed as innovated by subscribers of both left and right wings schools of thought. This model of economic protection allows for small communities to flourish. It should be noted that a localized currency isn’t without downfalls, though. Because of the protectionist outlook it may affect nearby counties who have not yet adopted such a method of transactions, leading to a drain on nearby communities that relied on outside wealth. Berkshares could has many parallels to cryptocurrency. By allowing economies to have their own currency (or in the world of crypto; token) it can boost these communities, allowing for an almost self sufficient economy, not in need of federal oversight.
A Snippet from Fox Business News Covering Berkshares and interviewing the founder.
Therefore, it is important for all communities, both in the real world and online to take the leap of decentralization together, ensuring no one economy is left behind and ADSactly aims to be at the forefront of this change to a more liberty focused and community centered approach to the economy. In conclusion, a system of localized currency would ensure that money stays in the community.
Thanks for reading,
The ADSactly Team
- Please stay tuned as this is the first in a series I am doing on Berkshares and Localized Economies, which I will release a new article every Tuesday. Please note we are still going to be releasing daily posts on other topics throughout the week.
More information about Berkshares
- Berkshares official website: http://www.berkshares.org/
- Berkshares "Business of the Month": https://theberkshireedge.com/berkshares-business-of-the-month-prairie-whale/
- Investopedia - Berkshares: http://www.investopedia.com/terms/b/berkshares.asp
interesting post!
nice one!
This is a great article. I didn't people could just outright decentralized themselves like this if they wanted to. I guess Sovereign Nations can create their own form of currency and exchange. As long as the currency can't be easily counterfeited I don't see why not. If you have a good exchange program at each store to USD whenever needed. I would love to see something like this really take off where an entire major city takes part. I love how things spin out of control or take off just from a joke. Thanks for sharing and the support. #yunk
This is amazing and novel, and it reminds me of how the troubles in south america have led citizens to crypto currencies to continue to sustain themselves and do basic commerce. Just another example of the alternative to fiat. Very cool peace thanks sharing. Im gonna have to re #Yunk for my crypto fans!
The more I look into this the more that I see the use for crypto currencies. I just recently found out about some of those countries where the banks just completely failed them. Then bitcoin machines started to pop up and it truly helped them get away from their failed government and keep their money safer. Following you two will teach me a lot on here I believe. #yunk
The idea to save the country's wealth from flowing abroad made some good idea.Also yeah berkshares is a new concept but I read something about such campaign somewhere like one of those new trending #Yunk campaigns....that's also amazing!It's one of the top trending tags on steemit and based on a similar target and following .Aimed at taking the leap of decentralization together as you mentioned. #yunk
It starts from decentralizing! That's why no one person is the yunk. The #yunk is all things and everyone! <3
@Yunkzilla we need to make yunkcoin asap. Lol. I think we know a bit about jokes spiralling out of control lol!
The more I learn about decentralizing and major centralize banks I'm surprised this hasn't started sooner. If you think about it through history there's always a group or majority of people who want liberation. I think the birth of cryptocurrency such as bitcoin was just the perfect storm of activist and technology. I'm excited to see where this all goes and to learn more about it. There's people that have been glued to this since it was first a white paper. That's crazy to me that people find something that is nothing to support it until it becomes something more than they could ever have imagines. My favorite word is "L I B E R A T I O N!"
Resteemed
Great idea and great success inspires everyone.
The US government does not care?? Is uncle sam getting his cut? Who prints this fake money? I like how the people came together but just seems like there could be alot of problems with their made up currency. What is it backed by? The US dollar?
The idea of a local currency, such as Berkshares is good, because it prevents draining of local resources and forges community ties. However, as a lay person, I can't help but wonder if we're not going back to the dark ages, by encouraging internal trade, and restricting trade with others. Just sharing my thoughts. :) Look forward to reading more of your posts on crypto.
Nice I like your post @adsactly
wow @adsactly - this is amazing. I have never heard of "Berkshares" - I'm floored right now. Especially since I'm from the East Coast USA, this is completely a new concept to me.
I wonder when the digital Berkshares are coming...
I remember reading about Berkshares years ago, It actually inspired me to look into the economic benefit of keeping wealth within the community. Open the rabbit hole actually for me about how corporation siphon wealth from local commerce to forward the Globalist agenda
Great Article! If I lived in Berkshire id definitely give it a go! I will start Leedscoin (UK) :P
@ashleypeat, I also want to see more folks like You on this channel. Damn cryptos :^)
I am currently curating inteviews with blockchain people and also steemians.
So question:Who would you like to see approached in a life conversation?
Hey @qed,
There is a guy on here called @Jerrybanfield who is pretty clued up on all things Crypto.
Very good illustration in history of the Berkshares. I'll be watching next Tuesday
@adsactly
In South Africa we have a small whites-only town in the Northern Cape province called Orania, they adopted their own currency called Ora. However it is not accepted nationwide.
(Getty images)
Wait what? I'v heard of Orania but never knew they had their own currency!! Doubt this is for the same purpose though :(
They have their own sort of sub-economy. So much that you need to sign up for approval to live there.
Wow!! Think I'm gonna have to read up on that man...
Another fellow South African :) Awesome.
Awe cuz! Lol
Hoe gaan dit bra! :P
TOP
very good
i will remain stay tuned for your next Berkshares info tonic on tuesday @adsactly
Wow - never knew that!! Must admit, it kinda makes sense to keep the money in the county - in a strange way though...
Next they can start their own crypto ;)
Very interesting information. A very nice post. It's something I do not know. Thanks to this article I learned. Thank you.
Seems great. But, is it legal to make and use a new currency this way?
What's up brother. Nice post on Berkshares. It's an interesting concept.
You should interact with your audience.. Otherwise they'll just be gold-diggers coming after that 600K SP :D Know what I mean?
Have a fantastic day further!
Thanks for your reply
My pleasure. Nice to see a reply from you man! Always awesome :)
And hey.. Today is actually milestone day for me. Here's that post: My first 30 days on Steemit! Over 3000+ posts!
Talk soon.
Well, I surely never heard about this. I believe if people decentralised the economy, the world would be much better off. Awesome info about this parallel currency, thank you. Cannot figure out how is this legal but hey who can tell them what to sell for :D Please check out my blog. I'm more of an artist and traveller but also more than that ;)
@ adsactly the use of Scrip is an effective way to keep money circulating locally.
It's even been in use in my small community long enough to have changed it's name from "Holland Dollars" to "West Coast Cash"
I'm glad to see the title didn't lead to some connection with Warren Buffet.
Très bon article qui est très bien fait de votre part. Merci.
Est ce que vous pouvez faire un tour sur mon blog @zeryius s'il vous plaît merci. Car j'aurais vraiment besoin de votre aide vous qui êtes très généreux et très bon écrivain. S'IL VOUS PLAÎT AIDEZ MOI.
So they were printed, oh my... It is something unbelievable! How innovations change the world.
This is a great addition to anyone's portfolio to look forward to.
Thank you so much for teaching me on this topic!
Great info here and I love how you are aiming to be at the forefront my friend :)
Lovely post!
Following you for sure. I'm very interested in the emergent crypto-economy and its exciting to see so much information and activism on this site. I wasn't aware that there was an instance of a localized currency in the US. Just goes to show how feasible decentralization really is.
A very good innovation, I think the local currency system is very profitable for the people and can make people go forward
Thank you for your interest, If you are interested in learning more about what we are proposing to do with ADSactly please contact us in our Discord
http://discord.me/adsactly
I want to learn more, I have joined in discord
You can see my name in the discord list
Just read this article also:
https://themerkle.com/south-african-town-creates-its-own-digital-currency/?utm_medium=push&utm_source=onesignal&utm_campaign=traffic%20boost&utm_content=extended%20%traffic%boost
Wow.. Nice 😊