Time banking Time banking is a pattern of reciprocal service exchange that uses units of time as currency. It is an example of a complementary monetary system. A time bank, 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 dollar in the USA and a time credit in the UK. Time banking is primarily used to provide incentives 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. Origins and philosophy
mancunian green: Boon - or Bobbins? As the banking crisis continues, alternative or complementary currencies are back on the agenda, as evidenced by George Monbiot's last piece in the Guardian , and a feature on Lewes Pounds on BBC's radio 4 in the last couple of days. The idea of an alternative currency is not new, and back around 15-20 years ago, LETS schems (Local Exchange Trading Systems)were seen as a key part of the move to a sustainable society and there were close links between Green party activists and LETS schemes in various places around the country. The scheme in Manchester used a currency called 'bobbins' after the cotton industry and for a while local Green Party membership could be paid for in bobbins, though hardly anybody ever did.
Peer-to-peer lending Peer-to-peer lending (also known as person-to-person lending, peer-to-peer investing, and social lending; abbreviated frequently as P2P lending) is the practice of lending money to unrelated individuals, or "peers", without going through a traditional financial intermediary such as a bank or other traditional financial institution. This lending takes place online on peer-to-peer lending companies' websites using various different lending platforms and credit checking tools. Overview The interest rates are set by lenders who compete for the lowest rate on the reverse auction model, or are fixed by the intermediary company on the basis of an analysis of the borrower's credit. Borrowers assessed as having a higher risk of default are assigned higher rates. Lenders mitigate the individual risk that borrowers will not pay back the money they received by choosing which borrowers to lend to, and mitigate total risk by diversifying their investments among different borrowers.
An Unconventional Billionaire Is Revolutionizing Philanthropy By Closing His Foundation Some people are into extreme sports, others extreme eating. You could call self-made billionaire Chuck Feeney an extreme philanthropist. Feeney, the 83-year-old co-founder of the pioneering retail business Duty Free Shoppers (the company that sells the tax-free alcohol and perfume in airports), is practically unknown as a public figure.
Learn More In August 2012 the Center for a New American Dream presented a free webinar about how to start up a new tool library in your community. Topics included obtaining funding, finding a location, tracking tools, navigating through legal issues, and more. The webinar featured speakers from successful tool libraries around the country. Guest speakers: Mike Froehlich - Founder, West Philly Tool Library (Philadelphia, PA)Jason Hatch - Founder, North Portland Tool Library (Portland, OR)Pete McElligott - Founder, Berkeley Tool Lending Library (Berkeley, CA)Ty Yurgelevic - Founder, Temescal Tool Lending Library (Oakland, CA)
What You Need to Know About Bitcoins: EBSCOhost WHAT ARE BITCOINS, YOU ASK? Bitcoins are digital currency -- and, yes, lawyers are beginning to accept them from clients. They are also known as virtual currency or cryptocurrency since cryptography is used to control the creation and transfer of bitcoins. They use peer-to-peer technology with no central authority or banks. The issuance of bitcoins and the managing of transactions are carried out collectively by the network. The system was introduced as open-source software in 2009 by Satoshi Nakamoto.
How to Start a Tool Library It might seem a little risky to lend out a bunch of power tools to those who probably don’t know how to use them. After all, tools can be dangerous, people can be idiots, and we live in an exceptionally litigious society. For some strange but very understandable reason, those concerns alone have been more than enough to effectively end many community tool libraries before they even start. As the sharing economy continues to blossom, however, more communities are overcoming that inherent fear and establishing lending libraries to embrace the beautiful benefits of sharing with neighbors. Through Google groups, starter kits, and incubator workshops, new tool libraries now have the ability to overcome their inherent concerns by learning from the experiences of many who have come before them.