ADSactly Daily

Tuesday July 25th, 2017.

"Berkshares" and Localized Economies

Part 1: An Overview

In Berkshire County, Massachusetts, a localized currency was created on September 29, 2006. The local currency, called "Berkshares” originally started out as a bit of a gimmick but has since seen adoption throughout the county and became a popular medium of exchange by everyday people in Berkshire County as a unique way to transact with the 400 businesses in the county who support the use of currency.

Photo of "Berkshares" being accepted at a local store.

Because of the innovative approach and support from the county, Berkshares has gained international notoriety and has received coverage by several mainstream news networks and journalists. The magic behind Berkshares is that it allows for wealth generated in the country to stay in the county and acted as a deterrent for Berkshire county consumers spend their money elsewhere in America. Although protectionist, the idea has been hailed as innovated by subscribers of both left and right wings schools of thought. This model of economic protection allows for small communities to flourish. It should be noted that a localized currency isn’t without downfalls, though. Because of the protectionist outlook it may affect nearby counties who have not yet adopted such a method of transactions, leading to a drain on nearby communities that relied on outside wealth. Berkshares could has many parallels to cryptocurrency. By allowing economies to have their own currency (or in the world of crypto; token) it can boost these communities, allowing for an almost self sufficient economy, not in need of federal oversight.

A Snippet from Fox Business News Covering Berkshares and interviewing the founder.

Therefore, it is important for all communities, both in the real world and online to take the leap of decentralization together, ensuring no one economy is left behind and ADSactly aims to be at the forefront of this change to a more liberty focused and community centered approach to the economy. In conclusion, a system of localized currency would ensure that money stays in the community.

Thanks for reading,
The ADSactly Team

• Please stay tuned as this is the first in a series I am doing on Berkshares and Localized Economies, which I will release a new article every Tuesday. Please note we are still going to be releasing daily posts on other topics throughout the week.

More information about Berkshares

• Berkshares official website: http://www.berkshares.org/
• Berkshares "Business of the Month": https://theberkshireedge.com/berkshares-business-of-the-month-prairie-whale/
• Investopedia - Berkshares: http://www.investopedia.com/terms/b/berkshares.asp