How Money Systems Work Publications Payment Methods Glossary of Terms The Money Conference

 

Currency Systems
Backed Currencies Transaction NetIthaca HOURS
LETSNational Currencies
ROCSTime Dollars
Complementary Currencies

Time Dollars Service Exchange

Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

Benefits of the Time Dollars model:

Backed by an hour of community service and created via mutual credit, Time Dollars are the simplest currency system to implement: the only infrastructure needed is a central registry, which can be as simple as a notepad or blackboard, to record account balances.

Time Dollars are always sufficient, so they tend to encourage a "favor economy" of cooperation and trade among participants.

Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

How Time Dollars are issued:

Time Dollars are created via mutual credit: Each transaction is recorded as a corresponding credit and debit in the accounts of the participants.

Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

Time Dollars are measured in hours of service.

One hour is measured the same independently of place and circumstances, so Time Dollars are immune to the fluctuations in value of commodity-backed and fiat currencies.

Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

Time Dollars exchanges are fixed.

In most adaptations of the Time Dollars system, each participant's time is valued equally, whether s/he is a novice or an extensively trained expert. For that reason, the Time Dollars model works best in very narrowly defined communities (retirement homes, for example), where everyone's time, skill, experience, and effort is regarded as equal.

Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

Structural incentives in the Time Dollars system:

Time Dollars

Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

Applications of the Time Dollars model:

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Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

Related Resources

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Benefits How Issued Unit of Account Exchange RateIncentives Applications Related ResourcesInteract

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How Money Systems Work Publications Payment Methods Glossary of Terms The Money Conference


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