Felix needed some extra Mystos for his new gardening tool. He said, “Scorch, I’ve been wanting this tool for a long time. I’m a little short of Mystos. Can I borrow 50 Mystos?”
“I’ll give you something better,” replied Scorch opening her laptop, “I’ll give you TimeCoins (an alternative for currency)!”
Felix frowned, “How is this going to help me? Stop fooling around, Scorch!”
“Patience, Felix. Let me explain,” answered Scorch, “Two smart Swiss people, Gabriele Donati and Karim Varini, founded a website called TimeRepublik in 2012. Anyone can use this website to sell and receive services, like hair stylists, barbers, mechanics, drivers, writers, etc. Instead of money, they will get paid with TimeCoins.
The founders wanted to eliminate the money system and make long-lasting relationships and communities. Hence, TimeCoin was born! TimeCoin is a method to pay other people by giving your time.
For example, let’s say I took a guitar lesson for one hour from someone on the website. I will pay for one hour by TimeCoins to him. He can use that one-hour TimeCoin credit to get another service, which keeps going. Currently, there are more than 100,000 active people in TimeRepublik.”
“This is interesting!” remarked Felix, “So, instead of paying Mystos, I can pay them with my time using TimeCoin credits.”
“Oh yes!” exclaimed Scorch, “A Buddhist nun from Myanmar called Coral Sunone wanted a makeover after spending 10 years in solitude. She came across TimeRepublik and found a wardrobe stylist, Cherish Cullison. Cherish helped her with a wonderful makeover and Coral paid her through TimeCoin credits!”
“It’s an amazing idea to strengthen relationships!” remarked Felix, “Now give me 50 Mystos.”