Echo: A Marketplace with No Money

A couple months ago, one of our team members, Irene, attended Echo’s talk about time banking. Time banking sounds like a futuristic concept out of a sci-fi movie like In Time but it’s been a way for charities and small businesses to exchange time like it is a currency since the 1990s. In other words, it’s a way to share and use resources more efficiently. With Echo (aka Economy of Hours), one hour is equal to one Echo.

For example, say I can play the ukulele like a rockstar and I’ve made a few Youtube videos but I want to do more with my awesome ukulele skills. I can offer lessons and I value it for one hour. Once I make my listing and someone is interested in becoming a ukulele rockstar, they can contact me. After our lesson, I tally up the total number of hours and that is how much Echo I’ve earned in my account. I can spend my hard-earned Echo hours on another service listed in the marketplace, perhaps I’ve found someone who can offer branding/logo design and or small business consulting.

Even if you’re earning more than you’re spending, you can donate your Echo hours to local charities, schools or groups. It’s a win-win situation for all! Imagine how much work could be done when we work together to help people and businesses in need. Check out more examples of their listings:

What do you think about time banking? Do you think it’s innovative or lackluster? Could you use time banking creatively? Let us know your thoughts!


Learn more about how we bring communities together at Fabrily.  For more updates, like us on Facebook or follow us on Twitter.


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