In economics, a time-based currency is an alternative currency where the unit of exchange is the person-hour.
Time Banks value everyone’s contributions equally: one hour equals one service credit. In these systems, one person volunteers to work for an hour for another person; thus, they are credited with one hour, which they can redeem for an hour of service from another volunteer.
As a philosophy, time banking is founded upon five principles, known as Time Banking's Core Values:
- Everyone is an asset
- Some work is beyond a monetary price
- Reciprocity in helping
- Social networks are necessary
- A respect for all human beings
There are many hundreds of Time Banks across the world. You can find a map of known Time Banks internationally over at timebanks.org 
We use a time based currency: Students are required to pass on their learning in order to earn credits that they can use to take further free courses.