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It looks a lot like LETS [1], those non-profit through which you can exchange services with other members. There is often a social aspect in these systems and t
by ebalit 10y ago
It looks a lot like LETS [1], those non-profit through which you can exchange services with other members. There is often a social aspect in these systems and the exchange rate is more related to efforts than to the economical value.
1 : https://en.wikipedia.org/wiki/Local_exchange_trading_system https://en.wikipedia.org/wiki/Local_exchange_trading_system
- ojosilva 10y agoMy wife ran a Time-based currency market in Madrid 6 years ago, it even got the attention of the press. It's a slightly different model from LETS since time is the currency and different tasks are, therefore, all valued the same. I was the one to install and maintain the software behind it (called Cyclos, project.cyclos.org). I'm glad someone can turn that into a business, people really love to get help from others and/or offer their own services. Although my feeling is that there's considerable churn in both supply and demand.
- ebalit 10y agoTurning it into a profitable business could increase this type of market by investing in the software infrastructure and promoting this type of trade. But I wonder how they plan to extract a part of the value that is traded on this market. It's not really possible to take fees.