Time as currency is an interesting economic model related to artistic practice.
According to the creators of Time/Bank, Julieta Aranda and Anton Vidokle, the project "is a tool by which people or a group of people can create an alternative economic model where they exchange their time and skills, rather than acquire goods and services through the use of money or any other state-backed value."
The project adheres to the goals of socially engaged art and goes far beyond a few of that particular type of art's ideals. It emphasizes participation through direct exchange, encouraging relationship and community building within in its model. It is a challenge to power because the model is subversive to capitalistic exchange. And finally, Time Bank spans disciplines by involving various methods to be exchanged within its practice. Ultimately, cultural production is achieved.
Many adaptions of Aranda and Vidokle's project have been replicated worldwide. In the U.S., TimeBanks has established itself as a similar organization based in Washington, DC with the mission to "nurture and expand a TimeBanking movement that promotes equality and builds caring community economies through inclusive exchanges of time and talents." The New York City chapter, TimeBanksNYC, has unfortunately been discontinued as of June 2014. However Ithaca, New York, has adapted "Ithaca Hours" to locally exchange an unbanked currency that directly benefits their own community.
Time as currency is a strong method of divesting from the Federal Reserve and into the skills and livelihood each other. The prior economic crash of 2008 should prove as a strong example why citizens should remain vigilant against the central banks. By engaging in direct exchange with others, Time/Bank strengthens our autonomous power and simultaneously, our skill sets.