Economic activists in Brixton, South London have created the Brixton Pound, a “currency” designed to support the local community.
There are around 500,000 Brixton Pounds in circulation and it’s accepted in over 200 businesses across Brixton.
“If you spend £5 on a cup of coffee in a chain store, the majority of that money just flies straight out to whoever owns the shares in the coffee chain,” Brixton Pound Director Charlie Waterhouse told Business Insider.
“If you spend 5 Brixton Pounds with a local, independent coffee shop, that money stays circulating in the area. It’s about empowering people to be able to make positive, economic decisions in their everyday lives.”
The notes have famous people from Brixton printed on, like David Bowie.
Customers can also set up a Brixton Pound account and pay via text. Shop owners can either reinvest they Brixton Pounds or change them to Sterling.
The Brixton Pound is a part of the Brixtopia movement. They run workshops, poetry readings, and music events.
The founders hope to widen the circulation of the “currency.” They believe it’s the best way to keep money within the community.
Produced and filmed by Claudia Romeo
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