The Local Currency Areas are the voluntary association of individuals (members) which form a currency union based upon the principles of an Optimal Currency Area. The currency area issues is own Local Currency Units as the most liquid of all commodifies supporting deferred payments within the currency area by the voluntary acceptance for payments by the members of the currency area. The monetary policy of the currency area is determined by the currency area articles of association. The local currency units value is determined solely by the equity based claims upon the economic production of the currency area peoples. Hence the Local Currency Units are created exclusively by the people for the people.

Local currency units (LCU) exist as digital coins with intrinsic value, circulating within the currency area, as legal tender based deferred payments with payment finality. The LCU's exist as the most liquid of all commodities in circulation within the currency area, via human acceptance within a deferred payment across space and time by its members.

Local Currency Unit Flows