Blacksburg ,Va, February 20th, 2015
This past week was an exciting one. Despite the snow, our team worked hard, conducting due diligence as we analyzed our competition and began research on our market. We have found that we have the opportunity to fill a unique niche, a time bank system that unlike existing systems, will not be limited to a specific region, but available to any location where people are willing to participate. There are other systems similar to what we want to do but they are plagued by a few things, including but not limited to restricted effective area, unorganized leadership, subject to taxes, etc.
Here are some interesting facts about time banking that you may not have known.
● Time banking provides a sense of comradery to a community.
● The United States government cannot tax time.
● Alternative currency provides a sense of security that conventional currency does not.
● Brings a sense of equality to all people diminishing the wealth gap that can be prominent in communities.
As we finish our due diligence and research so that we can develop the most appropriate service possible, we will take our beginning steps to design and structure, in turn bringing us one step closer to the release of Pass It On!
In the coming weeks we plan on having our primary design set up, and then conducting usability testing to assure that our design is intuitive and appropriate. If you are interested in participating as a usability tester, please send an email to our contact, Alex Ciccone, whose email is listed at the top of this release.
We will soon have a mailing list to receive updates, as well as a facebook page.
“The idea is called time banking, and it is based on the simple notion that time is equal for all people. In this system, services can be exchanged based on how long it takes to complete them, rather than on a market value determined by supply and demand. Raking the local massage therapist’s leaves for one hour can be traded for a 60minute Swedish massage, in other words.”
USA News
Time Banks provide New Way to Spend an Hour
