Brixton Pound Report

Goodmoneylab / 2025年3月2日

KENTA OTANI Good Money Lab Researcher

Acknowledgment:

This report was written with the support of Charlie Waterhouse of the Brixton Pound Project

Brixton, London

Brixton is an area in the Borough of Lambeth, in Southeast London, United Kingdom. Within London, it has been known as a trendy, cultural, and diverse neighbourhood of the city. Brixton is celebrated for its multicultural population, and in a 2022 census approximately 43% of the population of Lambeth identified as Black, Asian, and other ethnic minorities. Historically, post-war Brixton was known as one of London’s Afro- Caribbean communities that established its roots and culture in Southeast London.⁽¹⁾

Furthermore, Brixton is known for its live music culture. David Bowie has performed multiple times at the music venue, Brixton Academy throughout his career. Bowie is also featured on the 10 Brixton Pound note. Brixton Village is located in the heart of the Brixton Town Centre. The village is one of London’s iconic

markets operating since the 1870s, attracting both local residents and tourists.

Lambeth Council

COVID impacted many community-based non-profit projects in the United Kingdom, and COVID was disastrous for the Brixton Pound. The impacts of COVID and other factors have halted the Brixton Pound project. COVID has directly impacted the Brixton community with the closure of shopfronts that used to

accept the Brixton Pound.

Brixton Pound History

The Brixton Pound (B£) was founded in 2009, partially in response to the 2007-2008 global financial crisis that triggered a worldwide economic recession. In 2011, the Brixton Pound was incorporated as a Community Interest Company.⁽³⁾ The Brixton Pound was born out of the Transition Movement to address peak oil, reduce carbon footprint, and facilitate local food movements. In essence, the Brixton Pound has had both a countercultural and grassroots ethos since its inception. As explained by Charlie Waterhouse, Director of Brixton Pound, “(Brixton Pound) sends out an idea to the world that another, better way is possible.”

The Brixton Pound was founded as the first urban complementary currency in the UK.

Transition Town Movement

The Transition movement is a grassroots worldwide network of civic and local communities aiming to address the challenges of the climate crisis and peak oil. Beginning in 2005, the Transition movement aspires to transform the local economy with community-owned businesses, energy, food businesses, and local currency projects.⁽⁴⁾

The transition movement has spread to over 50 countries with thousands of groups aspiring to the transition culture. The Brixton Pound grew out of the Transition Town Brixton’s Business and Economy Group.⁽⁵⁾ Within Japan, there are many Transition Initiatives. Transition Town Fujino launched the Yorozu community currency

in 2008.⁽⁶⁾

COVID and the Brixton Pound

accept the Brixton Pound.

Money Creation & Use Cases

Great British Pound notes were converted to Brixton Pound notes at various locations in Brixton. These currency exchanges occurred at the Brixton Pound Cafe, Brixton Pound cash machine, local cash converters, and participating department stores. There was a 10% sign up bonus when the B£e (electronic British Pound) was active.

The Brixton Pound was accepted by around 250 businesses during the peak of circulation, in both paper and electronic forms. Also, Lambeth Council accepted Brixton Pound for business council tax payments.

When the Brixton Pound was a vibrant community in the 2010s, it incorporated innovative technologies that

experimented with payments, exchanges, and community development.

Innovation 1: B£e Pay-By-Text (Electronic Brixton Pound)

In 2011, the Brixton Pound incorporated the pay-by-text platform, an electronic method of payment through mobile phone text messages. The electronic Brixton Pound was called “‘B£e” and could be purchased through an online bank transfer to a Brixton Pound account.⁽⁷⁾

Explained by Marta Owczarek, Brixton Pound’s former Communications Manager, “It’s a pay-by-text system that doesn’t need internet. You just need a phone that operates text messages.”⁽⁸⁾ Electronic Brixton Pound users can send a transfer text message to a recipient (e.g. local business) via an e-bank intermediary phone number. This function was managed by the Cyclos Payment Platform developed by the Dutch non-profit, STRO, Social TRade Organisation.

There are two text message solutions to complete a transaction.

The customer would send a text message to the e-bank with the format “pay + customer pin + the business username + amount to pay”.

The recipient (local business) can send a text to the e-bank for the payment. Both customer and the recipient receive a text message confirming the transaction.

However, with the release of smartphone payment services like Apple Pay and Google Pay, the electronic

Brixton Pound technology was overtaken by the new forms of payment.

Innovation 2: Brixton Pound Cash Machine

The Brixton Pound Cash Machine was launched in 2016, making it the United Kingdom’s first local currency cash machine. It was located in Market Row in Brixton Village. The public could buy Brixton Pound notes with British Pound notes through the repurposed vending machine. It was a novel approach to engage with a printed local currency.⁽⁹⁾ It was also a symbolic statement against a society that was going cashless.⁽¹⁰⁾

Innovation 3: Brixton Pound Cafe

The Brixton Pound Cafe was launched as an accessible and community space in Brixton with a ‘pay-as-you- feel’ philosophy. Rather than a set price for products and services, a patron can decide on what they feel like paying. The ‘pay-as-you-feel’ experience provides an inclusive experience for patrons.⁽¹¹⁾

Through donations and surplus food from local establishments, the Brixton Pound Cafe was able to prepare vegetarian meals. Rescued food, food and vegetables that would have been thrown out, would be used to serve meals to the community. The Brixton Pound Cafe has saved over two tonnes of food, trying to contribute to the circular economy of London.

The Brixton Pound Cafe was a hub to exchange Brixton Pounds while enjoying a cup of tea.

The iconic Brixton Pound notes

What made the Brixton Pound an internationally renowned project was it’s iconic printed notes. The Brixton Pound notes are colourful and artistic, showing uniqueness through design. The notes capture the culture of Brixton by featuring prominent figures who are tied with the community. People include, Len Garrison, a black historian archivist, Luol Deng, a NBA basketball player, Violette Szabo, a World War 2 war hero, and David Bowie, an iconic British musician.⁽¹²⁾

The future of the Brixton Pound

While the COVID lockdown brought systemic changes to communities and non-profit projects, the Brixton Pound project is examining its values and identity in the post-COVID world. With independent businesses closing in the Brixton Village Market and high street, the development of a localised social economy is becoming vital for communities to thrive.

During COVID, a blockchain prototype was tested to establish a digital Brixton Pound. These sorts of new technological solutions may revitalise curiosity back into the community currency initiatives. Alternative economic models are becoming a necessity to meet the needs of society. What the Brixton Pound

represents is another approach to community resilience and the social economy.