Social Question

rexpresso's avatar

Do you know of any online time bank?

Asked by rexpresso (920points) September 1st, 2010

There are many time banks all over the world, where people give their own time e.g. painting rooms and receive time from others e.g. secretarial services — and the person giving and receiving don’t need to match. It’s a bank like others, but the currency is time.

Anyway, if you can help me you already know what I’m talking about… and my desire would be to find something like this but online. Somewhere you could go, provide a couple of hours of for example computer support, and get two hours credit, that you could later spend who knows, on assisted research or something.

But I didn’t manage to find anything like this online. Do you know anything? And if not, do you think setting up something like this online as a new web service is worth pursuing?

Thanks

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3 Answers

zophu's avatar

It’s worth pursuing. The only problem is, (and it’s not a critical problem,) that it would need a user base that had both the computer expertise to make themselves useful, the need for other users’ “time,” and a philosophy that would motivate them to take part instead of operating solely in the overwhelmingly conventional monetary fashion.

iamthemob's avatar

You would also need to consider the tax aspects of such trades. Anyone performing a service for another and receives remuneration will get taxed on it. Trading services for services means you have to value both, and income statements would have to be filed for both.

rexpresso's avatar

@iamthemob seriously? But would any tax be applicable? What if both services would be valued by the respective providers as having a 1$ value?

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