Fact Card is a series of posts summarising crowdsourcing and public decision making initiatives relevant to our project. Please post a comment or email us with any clarification.
Stadin Aikapankki is a community-based exchange system. A complementary trading network operates without money and provides its users the means to exchange goods and services. The Helsinki community exchange started some 3 years ago.
How does it work?
- Aikapankki (time bank) compiles and distributes a directory of goods and services offered by the users registered as well as a list of their ‘wants’ or requirements
- When a registered user requires something advertised in the directory, the seller is contacted and the trade takes place. The currency used is called ‘Tovi’ – a moment of time
- Sales are recorded as credits for sellers and as debits for buyers. The central book-keeping system records the relative trading positions of the traders
- The time bank collects a ‘community tax’, i.e. each member of the time bank donates their time to the running of the association
Local time banks (around Finland), citizens, community exchanges internationally.
Active. The number of time banks has increased in Helsinki (many areas have their own), local time banks have been started around Finland, gardening projects and meetings are arranged on a regular basis.