The Sunshine Coast hinterland township of Maleny has created its own "stimulus package" by launching its own money.
The town has joined the ranks of places such as Massachusetts, USA, and Brighton in the UK by creating its own currency.
The suitably named "Baroon dollar" will come in denominations of one, two, five, 10 and 20 and will begin circulating within the Maleny community in late August.
The joint project of Sustainable Maleny and the Australian Institute for Community Currencies Inc is one of 1000 local currencies introduced around the world aimed at creating resilient local economies by encouraging people to shop locally.
The money will be legal tender at grocery stores, coffee shops and music and video hire shops at Maleny, Mapleton, Kenilworth, Nambour and Beerwah.
Creator Darren Mitchell said the Baroon dollars will have several security features which will restrict the possibility of counterfeit "Baroons".
Mr Mitchell said packets of the Maleny money will be purchased with Australian dollars, which will be kept in a central reserve.
"The core of the money will be used to underpin the currency in the event that if it has to be stopped, the Australian dollars will be repaid," Mr Mitchell said.
"The interest on the Australian dollars in the central reserve will go towards community grants."
Mr Mitchell said the idea first surfaced two months ago and was given the name of "Baroon" in reference to the historical Sunshine Coast meeting place and the dam which is the source of Sunshine Coast water.
He said the dollar currency will feature artwork showcasing Sunshine Coast landscapes and historic figures that will be created by Archibald Prize-nominated artists from the region.
"We are aiming to have close to 100 businesses on board by the time the money is launched in two stages," Mr Mitchell said.
"The idea has great capacity for people and communities working well together, while creating a recognisable symbol that shows ... |
