Social Time Currency“The currency for doing Good,

Blessing for Hong Kong”

Millennium Development Goals

Millennium Development Goals

Time Currency

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 A true blessing

Huge Social Impacts

Charitable Services

Tremendous Civic Resources

The 2001 study issued by the Independent Sector found that 83.9 million Americans volunteer roughly US$239 billion of time.

“collective efficacy” stems from a “shared vision, if you will, a fusion of shared willingness of residents to intervene and social trust, a sense of engagement and ownership of public space.”

Co-Production takes the idea of building on strengths and embeds it in the ideas of the core economy, the need for

partnering between professionals and clients, and the new role of clients as co-

producers of outcomes.

Co-Production

Good Deeds Charity and Philanthropy Volunteer Work

Responsible Consumerism Social Activism

What is a Social Time Credit ?

• We do good deeds because our natural kindness like to helps others

• We also believe doing good it brings us intangible rewards

• West – A good deeds brings BLESSINGS• India - Positive actions bring KARMA• Islam - NIYYAH means that a good

deed is rewarded with untapped treasure and reward

• Chinese - Good deeds contributions bring FU QHI (福气 ) which brings good prosperity for yourself and family doing good (, 祝福 )

• We create a a tangible social value called Time Credits to reward individuals for doing good deeds

• Social Time Credits is firstly used as a display of an individual’s Social Wealth – a measure of your contribution to society

• Social Time Credits can be used as currency of transaction for goods and services made by Social Enterprises, so stimulating demand

• Social Enterprises act like banks that can buy issue and redeem social credits, thus creating a demand and supply for Social Credits

Good Deeds Social Time Credits as a reward

Circulation of Social Credits

Social Enterprises

Individuals

Social Enterprises

Social Time Credit Bank

REDEEMSocial Enterprises can sell excess SC back to the Social Time Credit Bank for 5c per 1Sc

REWARDSocial Time Credits to individuals based on their contribution level to a good deed

TRADEIndividuals can choose to display, trade or spend their SC (as groupon discount) on goods sold by other Social Enterprises

ISSUE Social Enterprise can buy Social Time Credits at 10c per 1 SC

1. 2.

3.4.

1. Issuing Social Time Credits

Social Time Credit Bank

(SCB)

Social Enterprise

(SE)

Social Time Credit Bank can issue Social Time Credits only to a Social Enterprise

Social Enterprise pays SCB USD0.10 per Social Credit (nominal issue value)

2. Reward Social Time Credits

Social Enterprise

Investors

Donators

Organizers

Individual

Promoters

Advocator

Partners

Consumers

Suppliers

Social Enterprises use Social Time Credits as a reward system for Individuals that participate in their business

Each Social Enterprise sets its own reward system at their own market value

3. Trading Social Credits

SAVE

• Show social wealth on their facebook or social profile

CONSUME

• Use SC to buy goods and services

SELL

• Transfer social credits to other individuals

INDIVIDUALS

Social Time Credits acts as a measure of Social Wealth in society

Social Time Credits acts as groupon / air miles for consumption of goods

Social Time Credits acts as currency of value and transfer of wealth

4. REDEEM Social Credits

Social Enterprise

Social TimeCredit Bank

Can redeem (sell back) social credits

Redemption price is USD0.05 per SC (always have the nominal issue price)

Mining Social Credits

Organizing

fundraising

Meetup events

Contributing

donation

consumption

Socializing

Article contribution

Campaign awareness

Social Time Credits are created (mined) when individuals do good deeds

Examples of Social Time Credits at work

Donation

Charity offers

donators 1SC per

USD donated

Volunteer Work

Social Enterprise offers 10SC

per hour for

volunteer work

Social Sharing

Organizer offers 1SC per blog

mention to each

person who

tweets or likes their campaign

Social Wealth

An individual

displays his social time

credit wallet

value on facebook or other

social media sites

Buying

Individual uses his

social credits to

get a discount off goods offered by

a Social Enterprise

Social Wealth enables increase demand

GAMIFICATION of Social Time CreditsLeader Boards

Achievements and Awards

Social Time Credits stores social wealth and measures status

Leads to demand and speculation of Social Time Credits

Individual

Individual

IndividualIndividual

Individual can provide their experts and services to others.Tutorship, teaching piano, cooking, etc

SME Companies

All win-win collaboration for the donors, volunteers, beneficiary.

This model savesa lot of administrative works for SME

SMEFill in SME Services Requirement

Social Credit

Currency

Social Credit Bank will the driver for all

activities and coordination

Individual Volunteers

Volunteers will obtain positive social credit

Good and Services

Sponsorship

Beneficiary

A Banking system for Good ?

Social TimeCredit Bank

Social Enterprise

Individual Consumers Investors

Social Enterprise

Organizers

Social Enterprise acts like a bank, distributing social time credit currency to individuals (organizers, donators)

Individuals use Social Time Credits for saving, display, consuming and transacting social goods and services

Social Time Credit Bank acts like the treasury for issuing and redeeming social credits

Social Time Currency

Social Time Credits

Funding Direct Impact

Consumption

Goods and Services

Demand for Social Time Credits

Awareness

Activists

Volunteers

Evangelists

Social Time Currency is a new currency for social enterprise. The benefits is that good deeds by individuals are rewarded with social wealth and recognition

Formation Plan

Scopes

• Identify services scopes• Identify stakeholders• Invite partners like NGO and associations to join

Phases

• Define different implementation phases• Invite advocators for different services• Prepare marketing plan and promote Social Time Currency

Founders and

Funding

• Invite limited amount of founders and financial and manpower commitment• Define the sponsorship packages• Arrange CSR leadership meeting with prominent chamber/NGO/Association

Thank You !

References

• THE NON-MONETARY ECONOMY by Edgar S. Cahnhttp://timebanks.org/wp-content/uploads/2014/01/Non-MonetaryEconomy.pdf

• The Co-Production Principle and Time Dollars by David Boylehttp://timebanks.org/wp-content/uploads/2014/01/Co-ProductionPrinciple.pdf

• The New Philanthropy by David Boyle

http://timebanks.org/wp-content/uploads/2014/01/NewPhilanthropywcover.pdf

• Equity crowdfunding in Europe http://www.crowdsourcing.org/editorial/a-cloudy-forecast-equity-crowdfunding-in-europe-part-1/20692

• Building a Virtual Economyhttp://www.slideshare.net/mattmcallister/building-a-virtual-economy

• Social Goldhttp://www.slideshare.net/socialgold/social-gold-how-to-launch-your-own-currency