many Spanish towns are doing just that, creating alternative currencies based on hours or whatever metric they deem sufficent. Mr. Bernanke and the FED should take note of this as it has even started springing up here in the good ol'
US of A.
Personally I would be a little hesitant to accept a communitys script since it would be hard to exchange it with businesses and organizaitons outside said community. Though that could admittedly change as in the 19th century local cities and banks issued their own 'dollars' with their own exchange rates to other competing currencies. But until that happens I'll accept the greenback, while secretly wishing I was paid in silver or gold.