Concept
Scrip
Related concepts (4)
Private currency
A private currency is a currency issued by a private entity, be it an individual, a commercial business, a nonprofit or decentralized common enterprise. It is often contrasted with fiat currency issued by governments or central banks. In many countries, the issuance of private paper currencies and/or the minting of metal coins intended to be used as currency may even be a criminal act such as in the United States (18 U.S. Code § 486). Digital cryptocurrency is sometimes treated as an asset instead of a currency.
Local currency
In economics, a local currency is a currency that can be spent in a particular geographical locality at participating organisations. A regional currency is a form of local currency encompassing a larger geographical area, while a community currency might be local or be used for exchange within an online community. A local currency acts as a complementary currency to a national currency, rather than replacing it, and aims to encourage spending within a local community, especially with locally owned businesses.
World War I
World War I or the First World War, often abbreviated as WWI or WW1, known contemporaneously as the Great War, was a major global conflict lasting from 1914 to 1918. It was fought between two coalitions, the Allies and the Central Powers. Fighting took place throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. The first decade of the 20th century saw increasing diplomatic tension between the European great powers.
Barter
In trade, barter (derived from baretor) is a system of exchange in which participants in a transaction directly exchange goods or services for other goods or services without using a medium of exchange, such as money. Economists usually distinguish barter from gift economies in many ways; barter, for example, features immediate reciprocal exchange, not one delayed in time. Barter usually takes place on a bilateral basis, but may be multilateral (if it is mediated through a trade exchange).