Editing Time-based currency (section)

=== Timebanking ===
'''Timebanking''' is a pattern of reciprocal service exchange that uses units of time as [[currency]].  It is an example of a complementary [[monetary system]].  A timebank, also known as a service exchange, is a community that practices time banking.  The unit of currency, always valued at an hour's worth of any person's labor, used by these groups has various names but is generally known as a time credit in the US and the UK (formerly a time dollar in the US).  Timebanking is primarily used to provide [[incentive]]s and rewards for work such as mentoring children, caring for the elderly, being neighborly—work usually done on a volunteer basis—which a pure market system devalues.  Essentially, the "time" one spends providing these types of community services earns "time" that one can spend to receive services.<ref>{{harvp|Seyfang|2004|p=63}}</ref> As well as gaining credits, participating individuals, particularly those more used to being recipients in other parts of their lives, can potentially gain confidence, social contact and skills through giving to others.  Communities, therefore, use time banking as a tool to forge stronger intra-community connections, a process known as "building [[social capital]]". Timebanking had its intellectual genesis in the US in the early 1980s.<ref>{{harvp|Cahn|2004}}</ref>  By 1990, the [[Robert Wood Johnson Foundation]] had invested US$1.2 million to pilot time banking in the context of senior care.  Today, 26 countries have active TimeBanks.  There are 250 TimeBanks active in the UK<ref>[http://www.timebanking.org/about.asp About Time Banking UK] {{Webarchive|url=https://web.archive.org/web/20081015034402/http://www.timebanking.org/about.asp |date=2008-10-15 }} Accessed March 23, 2012.</ref> and over 276 TimeBanks in the U.S.<ref>{{Cite web|url=http://community.timebanks.org/directory?quicktabs_directory_tabs=1#quicktabs-directory_tabs|title=Directory of TimeBanks|website=community.timebanks.org|access-date=2014-04-18|archive-date=2013-01-16|archive-url=https://web.archive.org/web/20130116013646/http://community.timebanks.org/directory?quicktabs_directory_tabs=1#quicktabs-directory_tabs|url-status=dead}}</ref>