Editing Time-based currency (section)

==Timebanking and the timebank==
Timebank members earn credit in Time Dollars for each hour they spend helping other members of the community. Services offered by members in timebanks include: Child Care, Legal Assistance, Language Lessons, Home Repair, and Respite Care for [[caregivers]], among other things.<ref name=autogenerated3>[https://web.archive.org/web/20080930083016/http://www.mainetimebanks.org/bank/Services.htm?v=A&n=&l= Exchanging Services – Banking Time – Strengthening Communities] Hour Exchange Portland, Accessed May 30, 2008</ref> Time Dollars AKA time credits earned are then recorded at the timebank to be accessed when desired. A Timebank can theoretically be as simple as a pad of paper, but the system was originally intended to take advantage of computer databases for record keeping.<ref name="Cahn_2004_5_6"/> Some Timebanks employ a paid coordinator to keep track of transactions and to match requests for services with those who can provide them.<ref>e.g., the [http://www.hourexchangeportland.org/ Hour Exchange Portland]</ref> Other Timebanks select a member or a group of members to handle these tasks.<ref name=autogenerated4>e.g., the [http://www.capeanntimebanks.org Cape Ann Time Bank] {{Webarchive|url=https://web.archive.org/web/20190630122316/http://www.capeanntimebanks.org/ |date=2019-06-30 }}</ref> Various organizations provide specialized software to help local Timebanks manage exchanges. The same organizations also often offer consulting services, training, and other materials for individuals or organizations looking to start timebanks of their own.<ref>In the U.K.: [http://www.timebanking.org/ TimeBanking UK]; in the U.S.: [http://www.timebanks.org/ TimeBanks USA], [http://www.portlandtimebank.org/ Portland Time Bank] {{Webarchive|url=https://web.archive.org/web/20141218004535/http://portlandtimebank.org/ |date=2014-12-18 }}</ref>

'''Example services offered by timebank members'''<ref name=autogenerated3 />

{| class="wikitable"
|-
| Child care
| Legal assistance
| Language lessons
|-
| Home repair
| Respite care
| Account management
|-
| Writing
| Odd jobs
| Office/business support
|-
| Tutoring
| Driving instruction
| Delivery
|}

The mission of an individual timebank influences exactly which services are offered. In some places, timebanking is adopted as a means to strengthen the community as a whole. Other timebanks are more oriented towards social service, systems change, and helping underprivileged groups. In some timebanks, both are acknowledged goals.<ref>{{harvp|Seyfang|2001}}</ref>

===Time credit===

The time credit is the fundamental unit of exchange in a timebank, equal to one hour of a person's labor. In traditional timebanks, one hour of one person's time is equal to one hour of another's. Time credits are earned for providing services and spent receiving services. Upon earning a time credit, a person does not need to spend it right away: they can save it indefinitely. However, since the value of a time credit is fixed at one hour, it resists [[inflation]] and does not earn [[interest]]. In these ways it is intentionally designed to differ from the traditional [[fiat currency]] used in most countries.<ref>{{harvp|Cahn|2004|pp=59–77}}</ref> Consequently, it does little good to hoard time credits and, in practice, many timebanks also encourage the donation of excess time credits to a community pool which is then spent for those in need or on community events.