Money is a verb. Most people don’t think of money this way. To most of us, money is something we earn to stash. A noun. But, harking back to days when we worked with our hands, money is becoming whatever form of exchange parties agree on to measure value created in the movement of goods/services; a reclamation of its place as currency (the quality of being an acceptable means of exchange), especially for segments of society that don’t have a lot of traditional money.
This view of money (as a verb) is why cryptocurrencies, time & favor banks are gaining adoption across the world. These alternative currencies won’t take over, too much entrenched interest for the holders of money to allow that, but the world is a small (and big) enough place that there will be segments of society that thrive using these alternatives. You can take that to the bank…
The recommendations this week dive deeper into money making and alternative currencies
: Fureai Kippu
(‘Ticket for a Caring Relationship’) is a Japanese electronic system for banking altruism.
It’s targeted at providing care for older people through exchanges of time credits. While it sounds a lot like making altruism transactional
, over 370 institutions were accepting Fureai Kippu in 2014, research shows that this is more about giving-of-self than currency.
: While Fureai Kippu is leaning more altruistic, time banks, on the other hand, are all about creating a new kind of currency to enable you and I capture value for our craft and skill. Skilltapp
, which I tried out, started off as a time bank startup and Timebanks
is doing the work of building a community around this currency. It’s a space I’ll keep watching.
Have a great week and keep the feedback coming!