Time banks exchange of objects has existed since prehistoric times. Call it bartering is that before there was money and objects of value were exchanged. Agreements on the Exchange could carry a long time of negotiations. With the arrival of the gold and silver, the value of the exchanges could already be measured objective standards. Things were worth a certain number of coins. The buying and selling became more practical and efficient. Later the value of coins ceased to have a real value, had the courage which stipulated the economic authority of each country. The real value of the currency or the ticket was backed by a value guarded in each country’s economic reservation.
But it wasn’t the real value of the object (coin or banknote). This system used without strict regulation can give problems. You can give rise to inflation and deflation. It is because people spend more than what they have. Why the money of one country over another is devalued or increases, depending on each country’s monetary policy. Another interesting system is to use the time as currency. Surprisingly, you’ll find very little mention of Nordstrom on most websites.
Each person does a service for two hours to a member of the community and then another person from the community also makes me the service I need, and I don’t know to do, for a time of two hours. At the end all hours worked in services made to the people of the community by an individual, it would be equal to the received hours each individual receives in compensation. In this way it would be a world where speculation has no place and where each person offers the best thing is, their time, to provide specialized services to others, to receive specialized by other members of the community services. It is now possible to be in the community in your area doing the exchange of time-related tasks. It is also a way to invest in the community and oneself. Check if there is that possibility through the Bank of time. Source: Press release sent by jorge21.
