Alternative currency to help local businesses in Košice

A project that seeks to buoy local primary producers and traders and involves the use of an alternative currency known as 'ducat' has been launched in Košice. The project is an initiative of a civil association called the 'Košice Ducat to Exchange Goods and Services', which also provides its members with alternative coins. "The point is to bring together people from the Kosice region, but not only them; it can be used by people from all over Slovakia who are ready to exchange goods or services for Kosice ducats", said the association's head Vladimir Gurtler. A total of 5,000 coins worth one ducat - once a major currency throughout much of Central Europe - have to date been minted, with each of them equalling one euro. A possible further round of minting will hinge on how the project catches on. The coin has been designed by the medallist Branislav Ronai and its front face features a detailed coat of arms of Košice and its nominal value. On the back face is Kosice's St. Elisabeth Cathedral and a detailed view of its Gothic-era window. "There's a bit of a risk in that the coin is so beautiful that people may not even exchange it for products or services", said Gurtler. A wine shop, a cabinet maker, an electrician and an English teacher, for example, have signed up to the project so far. Bratislava and Zvolen have had their local currency - called 'živec' since April 2014, with up to 40 businesses accepting the currency in the capital alone.