Editing Time-based currency (section)

===21st century===
According to Edgar S. Cahn, timebanking had its roots in a time when "money for social programs [had] dried up"<ref>{{harvp|Cahn|2004|p=xix}}</ref> and no dominant approach to [[social service]] in the U.S. was coming up with creative ways to solve the problem. He would later write that "Americans face at least three interlocking sets of problems: growing inequality in access by those at the bottom to the most basic goods and services; increasing social problems stemming from the need to rebuild family, neighborhood and community; and a growing disillusion with public programs designed to address these problems"<ref>{{harvp|Cahn|1999|p=499}}</ref> and that "the crisis in support for efforts to address social problems stems directly from the failure of ... piecemeal efforts to rebuild genuine community."<ref name="Cahn_1999_507">{{harvp|Cahn|1999|p=507}}</ref> In particular Cahn focused on the top-down attitude prevalent in social services. He believed that one of the major failings of many social service organizations was their unwillingness to enroll the help of those people they were trying to help.<ref>{{harvp|Cahn|1999|p=505}}</ref> He called this a deficit based approach to social service, where organizations view the people they were trying to help only in terms of their needs, as opposed to an asset based approach, which focuses on the contributions towards their communities that everyone can make.<ref>{{harvp|Cahn|2004|p=87}}</ref> He theorized that a system like timebanking could "[rebuild] the infrastructure of trust and caring that can strengthen families and communities."<ref name="Cahn_1999_507"/> He hoped that the system "would enable individuals and communities to become more self-sufficient, to insulate themselves from the vagaries of politics and to tap the capacity of individuals who were in effect being relegated to the scrap heap and dismissed as freeloaders."<ref name="Cahn_2004_5_6">{{harvp|Cahn|2004|pp=5–6}}</ref>

As a philosophy, timebanking, also known as Time Trade<ref>{{Cite web|url=https://www.awf.co.nz/|title=AWF: Blue Collar Recruitment Agency|website=www.awf.co.nz}}</ref> is founded upon five principles, known as TimeBanking's Core Values:<ref>{{cite web|url= http://www.timebanks.org/five-core-values.htm|title= The Five Core Values|url-status= dead|archive-url= https://web.archive.org/web/20070711035036/http://www.timebanks.org/five-core-values.htm|archive-date= 2007-07-11}}</ref>
* Everyone is an asset
* Some work is beyond a monetary price
* Reciprocity in helping
* Community (via social networks) is necessary
* A respect for all human beings

Ideally, timebanking builds community. TimeBank members sometimes refer to this as a return to simpler times when the community was there for its individuals. An interview at a timebank in the Gorbals neighbourhood of Glasgow revealed the following sentiment:

<blockquote>[the time bank] involves everybody coming together as a community ... the Gorbals has never—not for a long time—had a lot of community spirit. Way back, years ago, it had a lot of community spirit, but now you see that in some areas, people won't even go to the chap next door for some sugar ... that's what I think the project's doing, trying to bring that back, that community sense ...<ref>{{harvp|Seyfang|2004|p=66}}</ref></blockquote>

In 2017 Nimses offered a concept of a time-based currency Nim.<ref>{{Cite web|url=https://futurism.com/what-will-the-currency-of-a-workless-cashless-future-be|title=What Will the Currency of a Workless, Cashless Future Be?|website=Futurism|date=30 August 2017 }}</ref> 1 nim = 1 minute of life. The concept was first adopted in [[Eastern Europe]].<ref>{{Cite web|url=https://www.kyivpost.com/technology/ukrainian-tech-startup-turns-online-time-digital-cash.html|title = Ukrainian tech startup turns online time into digital cash - Jul. 21, 2017|date = 21 July 2017}}</ref>
The concept is based on the idea of universal [[basic income]]. Every person is an issuer of nims. For every minute of one's life,  1 nim is created, which can be spent or sent to another person, like money.