Wednesday, 25 July 2018

HourCoin - a crypto currency for Agorists and Libertarians...

Hour-coin.

Imagine a currency you issue yourself (as does everyone else), secured against your own future labour, quite simply secured on the basis that you trade your time for other peoples time.

On occasion you have free time you have no immediate use for, so convert it into tradable currency that you can use to buy other peoples time with in future... you need work done but dont have the time/capacity to do it? Pay others to do it with coins you mint, backed by the promise you'll return the effort in the future.

Babysit today, have your garden cleared tomorrow (or vica versa)  - look after an elderly neighbour today, use the tokens to pay to be looked after when you need it. 

Creating a crypto-currency has long been on my list of needs - each coin fundamentally secured against an hour of unskilled labour by the person who minted it. Tradable IOUs, time offsetting between when you have time available and when you don't. And trading unskilled, different skilled and multi-skilled time for your own.

Mint coins by promising to give your time, cancel coins by delivering on the promise, trade coins freely in the mean time.

I just discovered how easy it is to create crypto tokens - compatible with standard crypto wallets. So could do this tomorrow... but it needs a critical mass of initial participants to get going... anyone interested in looking to get on baoard?

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