£B 1 | Bank Note | One Pound | Kae Kae | CurrencyStackerKK | Bristol | North America
1 Bristol Pound (New)
The Bristol Pound (£B) is a form of local, complementary, and/or community currency launched in Bristol, UK on 19 September 2012.
Its objective is to encourage people to spend their money with local, independent businesses in Bristol, and for those businesses to in turn localize their own supply chains.
The digital currency ceased operating in August 2020 and Bristol Pound accounts have reverted to sterling accounts at the Bristol Credit Union. The Bristol Pound CIC is now in the process of developing Bristol Pay, which seeks to both offer an e-money peer to peer payment platform that can generate income for charitable projects in the city, and to create a range of token systems to encourage a culture change in how people think about economic value in relation to social capital and environmental capital.
The final issue of the paper currency remains in date until 30th September 2021, but given that many businesses are trying to reduce the risk of fomite transmission of Covid 19, the paper currency is no longer being issued. Souvenir notes are still available through the Bristol Pound website.
Bristol was the first city in the UK in which taxes and business rates could be paid in a local currency. Bristol Pound account holders can convert £Bs to and from pounds sterling at a 1:1 ratio. Bristol City Council, and other organisations in the city, offer their employees the option to take part of their salaries in Bristol Pounds.
The former Mayor of Bristol, George Ferguson, accepted his entire salary (£51,000) in Bristol Pounds.
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