Ecosimia

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ECOSIMIA (Spanish) Ecosistema es Responsabilidad Mia, formerly known as SINTRAL, is a Local Exchange and Trade System (LETS), an alternative currency system in Ecuador. He founded under the Fundación Educativa Pestalozzi in 1992 as an alternative university project in Tumbaco. For this system, many groups from across Ecuador have created a national network for the exchange of goods and services.

ECOSIMIA allows exchange of goods without the use of official currency and is currently available in 13 provinces of Ecuador. Transactions are made with a certain numerical value on the checks. A copy of the check goes to a local bank, which serves as the group's social memory. Transaction value is purely statistical. There is no debt in the system and you can not claim the value of the check.

Starting in 2000, the economic situation of most people in Ecuador has deteriorated following the dollarization of the introduction of the US dollar as a local currency. During the crisis, Mauricio Wild (co-founder of Fundación Educativa Pestalozzi) proposed the creation of a decentralized network of trade groups across the country. These groups have developed in particular in rural areas. There are currently about 140 groups in the ECOSIMIA system.

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