Staff Reports On: 05:39PM / Monday December 12, 2011
ASHFIELD, Mass. — The nonprofit Common Good Finance has received a more than a $100,000 a year in free advertising and other services through a Google Grant.
The organization is set to launch its R Credit initiative next year in Greenfield. The "R" in R Credits stands for "Regenerative, Revolutionary, and taking Responsibility" for the local economy.
"It combines features from successful alternative credit systems, adding technology innovations and procedures to ensure a secure, profitable experience for everyone," said William Spademan, president of Common Good Finance, in a statement.
The system is somewhat similar to Berkshares in that it promotes the use of local currency but is designed to be far more reaching in terms of democratic participation in its uses and equal exchange with dollars.
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