Time-Based Currency

AAA

DEFINITION of 'Time-Based Currency'

A currency whose value is based on one man-hour of labor. A time-based currency is an alternative form of currency most often found in communities that place value on volunteerism and social capital. It has no monetary value.

INVESTOPEDIA EXPLAINS 'Time-Based Currency'

Time-based currencies are found in time banks, which are groups of individuals and businesses that use their "earnings" of the alternative currency to get others to help them with projects. Because time-based currencies have no value outside of man-hours, individuals and organizations are unlikely to hoard them.

RELATED TERMS
  1. Fiat Money

    Currency that a government has declared to be legal tender, but ...
  2. Barter

    The act of trading goods and services between two or more parties ...
  3. Stroud Pound

    A local, private currency launched in the British town of Stroud, ...
  4. Phoenix Dollars

    One-ounce silver disks introduced in October 2005 by an individual ...
  5. Medium Of Exchange

    An intermediary instrument used to facilitate the sale, purchase ...
  6. Currency

    A generally accepted form of money, including coins and paper ...
Related Articles
  1. The History Of Money: Currency Wars
    Forex Education

    The History Of Money: Currency Wars

  2. History Of Coinage In The U.S.
    Forex Education

    History Of Coinage In The U.S.

  3. The History Of Money: From Barter To ...
    Forex Education

    The History Of Money: From Barter To ...

  4. What Is Money?
    Economics

    What Is Money?

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center