Time Banking
About TIME-BANKING:
What is TIME-BANKING?
Time Banking is a digital platform that enables individuals and organizational subscribers to earn, save, and exchange time-credits through personalized time accounts. These credits are accumulated based on TIME contributed to non-market activities, including pro bono work, open engagements, and unpaid labor in public service and volunteer initiatives.
The primary objective of Time Banking is to measure, convert, incentivize, and facilitate the exchange of TIME into a tangible economic value. By transforming time into a tradable asset, the platform empowers individuals and communities, providing economic relief while fostering a culture of mutual support and collaboration.
The platform is particularly impactful in addressing societal challenges such as unemployment, underemployment, and economic inequality. By incentivizing participation in non-market and volunteer activities, Time Banking not only recognizes the value of unpaid labor but also provides a mechanism for individuals to access services and support without the need for traditional monetary exchange.
Principles of Time Banking
Equality of Hours: Every person’s time is valued equally, recognizing that everyone has something valuable to contribute. Mutual Aid: People helping one another in a structured way that benefits the entire community, providing shared support and creating a sense of belonging among members. Community Building: By encouraging community members to exchange services, time banks foster stronger, interdependent communities where people can rely on each other for economic relief.
How Time Banking Works
In a time bank, the currency system is based on units of time, typically measured in hours. This system operates on the principle that every individual’s time holds intrinsic value, regardless of the nature of the activity.
Subscribers can earn time-credits by offering services such as tutoring, caregiving, or community and public interventions, and can later redeem these credits to access services from other members within the network. This creates a self-sustaining ecosystem where time becomes a universal currency, promoting social cohesion and economic inclusivity.
Key Messages / Feautures
- Earn Time-Credits: Accumulate credits by contributing time to non-market activities, pro bono work, and volunteer services.
- Save and Exchange: Store time-credits in personalized accounts and exchange them for services within the Time Bank network.
- Economic Empowerment: Convert time into tangible value, providing economic relief and opportunities for underserved communities.
- Community Building: Foster collaboration and mutual support by connecting individuals and organizations through a shared time-based economy.
- Inclusivity: Recognize and reward the value of unpaid labor, promoting social equity and economic inclusivity.
Time Banking is poised to transform the way society perceives and utilizes time, creating a future where every moment counts and every individual has the opportunity to thrive.
Target Audience
Community-minded individuals or Locals Retirees or seniors looking for purposeful engagement Young adults seeking skills development and networking opportunities People from diverse socioeconomic backgrounds
Partnerships
Collaborate with local community organizations, non-profits, and businesses to amplify the campaign's reach.
Join the Campaign
Join us and become a part of the Time Banking community today. Give an hour, get an hour. Everyone has something valuable to offer, and your time can make a difference.
With Time-Banking, we build stronger networks, make essential services more accessible, and empower everyone to contribute to a thriving community.
For further inquiries and participation, please email us at:
timebanking@voluntaryaid.org
Let’s Build a Supportive, Sustainable Economy!