[Social Talk] Time Dollar and Time Bank

[Social Talk] Time Dollar and Time Bank

Have you heard about Time bank issuing Time dollar? Launched in 1983 as a Friend to Friend program in Miami, Florida, USA, the local currency system started with the view that all exchanges are time based and the hourly service value in this system is the same.

The system is now spread across most states in the United States and has thousands of members. For example, when a long-term inpatient does not have a story partner, a member who is in the Time Dollar system will go to the patient and talk to the patient for 1-2 hours. I can say that.

He will receive 2 Time Dollars for 2 hours volunteering. If you need to repair your home, you can ask someone who is good at repairing your home to repair your house and pay the time dollar for the time you are in. I enjoyed myself and talked to the patient. In return, I earned a Time Dollar and got the effect of covering the cost of repairing the house with the same local currency.

When Edgar Cahn first launched a local currency called Time Dollar, he did not think of the same currency as the dollar. He initially had the intent to reduce the need for nursing homes by reimbursing older people for volunteer work.

The Time Dollar idea arose from a terrible feeling that Edgar Chan was left to a useless human being in his own hospital in 1980. He felt that all the patients who were admitted to the hospital, whether young or old, were abandoned as useless human beings, and he started with the intention to connect people in terms of social necessity.

As the social security system paid him less money, he began to take action. After studying local currency at the London School of Economics (LSE) for one year and returning home, he spent three years in Miami, St. Louis, San Francisco, Boston, Brooklyn, Washington DC We started studying Time Dollar introduction for 6 cities including the city.

Time Dollar is a kind of volunteer bank. Regardless of the type of service, 1Time Dollar is paid for 1 hour service. If you register at the registry and create your own account and send and receive services to the registry, the records will be recorded in your account.
With the Time Dollar service, participants can get the services they need.

There are various types of Time Dollar system.
In Chicago, for example, a college student gives a lesson to a young student and collects 110 hours to get a recycle computer for free.

This program, which has given more than 1000 PCs to undergraduates, is making a big difference for both undergraduates and young students. Time Dollar was used to buy food in Virginia and Time Dollar was used in hospital in Miami.
Time Dollar is exempt from transactions by limiting its use to work related to social service system.

MORE (Member Organized Resource Exchange) Time Dollar helps thousands of residents in 10 low-income towns in St. Louis, Missouri.
Started in the early 1980s by the George Eberle Grace Hill Social Welfare Representative, the MORE system does not use printed currency.
My 1 hour is basically the same as your 1 hour car dealings, child caring, house cleaning, car repair, notices, and extra lessons.

Grace Hill runs the Time Store to further activate MORE. This time shop displays a variety of donated items such as clothes, toys, school supplies and various used home appliances. A lot of things are from Time Dollar members.
The value of the goods in the time shop is collected according to the time spent securing and exhibiting the goods in order to meet the purpose of the Time Dollar. At this time shop, you can only buy things with Time Dollar. This time shop is playing a very important role for the poorest person in the world who has difficulty falling off toilet tissue.

Time Dollar was excluded from taxation because US domestic tax authorities accepted Edgar Chan 's claim that he should not be subject to taxation because he is a social - policy - minded person who helps social underprivilege rather than economic policy.

This can be seen as recognition of the purpose of Time Dollar and the publicity for the socially disadvantaged.