= Local Exchange Trading System in Brussels, Belgium
LETS stands for Local Exchange Trading System. It can best be described as a platform where people exchange stuff, time, services and knowledge exchange on a totally voluntary basis. An exchange network that is centrally managed. What is useful about the swap transactions is that you do not have to do anything having to return for the person who just did something for you. You simply give a number of 'units' in return, that that person is in the system can get something else. You then do a service for someone else, which you will appreciate.