Where does the idea for Loons come from?
The first Hours-based currency system was created in 1991 in Ithaca, New York. The Ithaca Hours system now has over 2000 individual and 300 business participants. There is the equivalent of about $70,000 in circulation, and about $2 million in transactions had been generated as of 2004. Ithaca Hours serves as a model for Loons and dozens of similar local currencies established over the last decade around the United States.
