Tag: seniorage
A Plain English Explanation of Local Currency and How it Works
As a companion piece to our article on Bitcoin ATMs and Colorado’s new local currency, the COjack, here is a fantastic, plain English local currency definition and explanation of how local currency works, provided exclusively to the Internet Patrol by Dr. Stephen J. Schmidt, Professor of Economics at Union College in Schenectady. A huge thank you to Prof. Schmidt for this!