Time Banks
Hello readers, this blog is dedicated to interesting concepts and theories around the world and to share an idea or just a thought for you to use these in your daily lives. Today’s concept is time banks. During my architectural thesis days, I came across an intriguing concept of time banks. A concept which treats services as method of currency exchange. SO, What is this concept & who started it? Officially the term “Time Bank” was coined and trademarked by Edgar Cahn, an American law professor and social justice advocate. But the concept has been there since ages. In simple words, when you barter your time or service which you can provide in return for time or service you cannot perform yourself to be credited at the same time or in future is taken care by the time banks. It is considered a social way of transactions for community building. This type of transactive value is also called community currency where monetary gain or lose is not involved. There are 5 core prin...