Thursday, 15 October 2009
JULIETA AND ANTON'S E-FLUX 'TIME BANK' IN LONDON!
Dominic Eichler visiting the time bank
What's a time bank?
Carolina Caycedo's cash
Lawrence Weiener, 'Hour Notes'
Wilson Diaz and Ana Maria Millan's eflux notes
visitors to the time bank
ABOUT EFLUX TIME BANK:
Recently we have been doing research into alternative, community based currencies and financial structures, and came across something very interesting: time banks. This is something that was started upstate New York during the last recession, when a small town run out of cash, so people started exchanging time which eventually let to a creation of a local time based currency that even the local banks started to accept.
We are now starting to set up a time bank for the art community. While it is an art project to an extent, we intend to develop this into a fully functional, practical exchange that would allow artists, curators, writers and other people in our field to exchange time and knowledge. So for example if you happen to be in Beijing and need someone to help you go shopping for materials or to translate, or just help you carry your luggage to the airport - you would be able to draw on resources of time bank without money changing hands. We suspect this type of an exchange will work particularly well in the art community, as it has such a huge proportion of highly educated people looking for ways to put their time and skills to use...
Our time bank will charge commission and use this capital of time to make investments in initiatives like the land foundation, or art-historical research, critical writings and other cultural activities.
We are launching the initial phase of Time Bank at Frieze on October 15th, as a 24 hour exhibition of currency prototypes.
Thursday 15 October: Julieta Aranda and Anton Vidokle present Time Bank, a trading scheme that bypasses currency. The unit of Time Bank is an ‘hour note’ which can be sued to swap goods and services with a worldwide network of participants.