A community-digital currency for North Staffordshire has been officially launched in an event at Keele – with researchers at the University playing a key role in the project’s development.

The Potteries Pound is part of an ambitious plan to regenerate the area, allowing people to bank a wide range of actions, such as volunteering at community projects, caring for elderly relatives, getting involved in health and fitness activities, work to improve the local environmental, and cultural activities. One hour of community work is equal to one Potteries Pound, which can be spent with local companies who sign up to the scheme.

The approach has been developed by a community benefit society called #BeKind as part of a wider project called The Stoke Model. Researchers at Keele have been working with #BeKind to develop the digital currency scheme, and today they presented a White Paper, 'The Potteries Pound: A Community-Driven Digital Currency', at a launch event at Keele Digital Society Institute to business and community leaders.

Dr Colin Rigby, Director for Business Engagement, Keele Business School, said: "We have been working with #BeKind for around six years to develop this digital currency, with the White Paper developed over the summer by one of the Business School's Masters Students, Yash Gavali. It's been fantastic to officially launch the scheme at Keele and see how much energy and passion there is for the initiative.

"The idea is that the Potteries Pound will be used to reward volunteers and community engagement, and encourage people to be play an active part in the local area. The circulation of the Potteries Pound in the local economy would stimulate local spending, support small businesses, and encourage the development of new enterprises. By keeping the currency within the community, it will help build a more sustainable and resilient local economy.

"Keele is celebrating its 75th anniversary this year and we’re as committed as we’ve ever been to supporting our local communities, and playing our part in driving innovation, growth and opportunities across the region."

#BeKind is run by experienced community and regeneration professionals, Mike Riddell, Annette Francis, and Dave Proudlove, who say the Potteries Pound can be the start of a cultural revolution to support communities throughout the UK and beyond.

Mike said: "The Potteries Pound is a genuine innovation – as yet there is no other digital local currency in operation anywhere in the world. The launch is a call to action – we want partners and collaborators to join us. It is a community-driven digital currency at the heart of a revolutionary economic model."