Local Exchange Trading System

Overview
A Local Exchange Trading System (LETS) is

{{Quote|a locally organised economic organisation that allows members to exchange goods and services with others in the group. LETS use a locally created currency to denominate units of value that can be traded or bartered in exchange for goods or services. Theoretically, bitcoins could be adopted as the local currency used within a LETS. (Examples: Ithica Dollars; Mazacoin).