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Time is Money

Automated nonbinary cooperative socialism in an All-Crisis environment. Discussion starter.

tl,dr: the introduction of a community currency based on time of work/personal involvement offered for socially useful purposes.

Before TePeWu can operate on the target principle of from each according to their ability, to each according to their need, it must first begin to operate at all.

To start working at all, we need to move from a loose group of people knowing each other online and casually discussing similar topics to a loose group of people knowing each other online and doing things together (albeit remotely) according to a plan leading to the creation of TePeWu as a sustainable and economically viable community.

This cannot (in a practical sense) be done in one giant leap of faith. It takes a bridge over the bubbling toxic magma, the radioactive waste of capitalism, that separates us from freedom.

But how it is going to work practically, without poetry?

In this text, I seek answers to the following questions, raised from the position of someone who "would like to, but is afraid" to get involved in the creation of a TePeWu (or other cooperative community of an economic nature).

-- How can I get involved if my skills are nowhere near what TePeWu needs?

-- I don't want to give money to TePeWu, but I want to help somehow without disrupting my normal life too much.

-- I can do something for TePeWu, but I need to get something in return.

NOTE #1: in this text I deliberately avoid discussing how (in a technical sense) to implement such a mechanism. There are quite a few possibilities, but today let us talk about the principle of operation.

NOTE #2: Wherever I write about #TePeW in this text, please treat it as a "placeholder" -- the same mechanism can be applied to all initiatives "on our side of the street".

Time is money (CTP -- Czas To Pieniądz in Polish)

Let's talk about non-capitalist money, based on labor time.
Each of us has a number of hours per day, per week, per month, etc. Much of it is used up doing what we have to do: survive under capitalism. But there is always some amount of hours left over that we can use as we wish. This is our wealth. By choosing to help this or that person or initiative, we use our wealth to change the world. Our action time is the only real currency in the universe.

How is CTP created?

CTP is created when:
-- person X has done useful work for the community;
-- the community (according to its own rules) has confirmed that the work was needed and done properly;
-- the person responsible for maintaining the record has credited the appropriate number of CTPs to X's account.

-- the community announces that it needs someone to set up and configure the Yunohost server and basic applications to use Fediversum, and is willing to pay 10 CTP for the job done.
-- X offers to do the work.
-- once the transaction is completed and confirmed by both parties, 10 CTP units appear in X's account.

How do I spend my CTPs?

CTP, like any currency, can be spent wherever it is accepted. Therefore, a very important community support group will be people who declare that they will accept a certain amount of CTP per month for their work.

-- X, with, say, 10 CTP in their account, approaches Y, who declares that they can clean gardens, assemble computers or translate from English and is willing to accept up to 20 CTP per month for these services.
-- X asks Y to translate 30 pages of text from English and pays 6 CTP for it. Let's call this an P2P (person to person) transaction.

What happens now?
1. the balance in X's account changes from 10 CTP to 4 CTP
2. in account Y the monthly CTP receipt limit changes from 20 CTP to 14 CTP (resets at the beginning of the next month)
3. the registry records the transaction and any comments, according to the rules adopted by the community.

Note that the CTP *disappears* when spent ODO, which prevents inflation and the accumulation of wealth through trading and speculation.
Likewise, ODO's unused CTP intake limit for the month disappears.

How does this relate to supporting the community?

Well, quite simply. You can support #TePeWu (or any community using CTP) in two ways:

1. By announcing that you are willing to do (insert list of work here) per month for, say, 10 CTPs. This is how you make the currency credible (your offered time is to CTP what gold is to bullion currency).

2. By doing useful work for TePeWu (preferably announced on a public list) and collecting CTP for it.

How to prevent fraud?

First and foremost, transparency. Billing and flow information (subject to personal information) should be publicly available. This includes:

-- Announcements of those accepting CTP, with ongoing updates of their quota status.
-- Announcements from the community about what work is needed, and about work done from outside the list -- with CTP prices listed, of course.
-- An anonymized (or at least pseudonymized) record of CTP transactions/flows.

Additionally, the community _could_ introduce a comment system for creating a reputation registry of people, so that the person entering an ODO transaction has a better idea of who they are dealing with.

Questions and comments are very welcome.

#TimeBank #cooperative #timemoney #discussion #CTP #community #TePeWu #money

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