Time banking was developed in 1980 by law professor Edgar Cahn in response to severe cuts in government funding for social programs. With less money available to address social problems, Edgar realized that a different kind of currency might be able to fill in the gap, a kind of currency that empowers community. In time banking communities, “time dollars” are the unit of exchange. They place equal value on each of a wide variety of services offered within a community.
Exchanges, offers, requests, and transactions are organized through a web‐based software system called Community Weaver, developed by Time Banks USA.