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Baltimore Group Creates Local Currency

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An association in Baltimore wants to promote a currency that could be used instead of regular money at local businesses.
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An association in Baltimore wants to promote a currency that could be used instead of regular money at local businesses.

Inside of a yoga studio that was once a factory in Baltimore's Hampden neighborhood, people are talking about a new system of paper money for the city of Baltimore.

Jeff Dicken is with Baltimore Green Currency Association, the group behind what's being called the BNote.

"A BNote is a paper currency...money by the people, for the people, and it can be accepted by anybody in the community who feels like they can circulate it," he says.

So far, 25 businesses in Hampden have signed on to accept the BNote. In theory, it works like this: you buy 11 BNotes for $10, which you can spend at participating local businesses just like your regular greenback.

Dicken is hoping that the BNote will eventually gain enough momentum to continue on after a buyer's initial purchase.

"We have the restaurants buying from local food producers from local farms, we have the farms buying from local hardware stores...it will create these supply chains that can lead to permanent circulation of the BNote," he says.

The design for the BNote will be revealed on Friday. The currency is scheduled to launch in April.

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