TIMEBANKING. A CURRENCY FOR STRONGER COMMUNITIES AND SOCIAL CHANGE

Purpose: The purpose of this study is to explore the social benefits of timebanking, service that enables the exchange of services within local communities using time credits instead of traditional currency.The research aims to identify the barriers to the implementation of timebank activities and investigate their potential for future development.Design/methodology/approach: The study adopts a critical review of existing literature and empirical case studies, primarily focusing on timebanking activities in the UK.Through a qualitative analysis of case studies and secondary sources, the research evaluates the effectiveness of timebanking in enhancing community cohesion, mental health, and economic sustainability.Findings: The findings suggest that timebanking holds significant potential to improve social cohesion, mental well-being, and provide economic benefits by fostering collaboration within communities.However, the study also identifies key barriers to the successful implementation of timebanking systems, such as administrative challenges and scalability concerns. Research limitations/implications:The research is limited by its reliance on case studies from the UK, which may restrict the generalizability of the findings to other cultural or socioeconomic contexts.Further empirical research across diverse regions is recommended to validate these results and examine the long-term impacts of timebanking on various communities. Practical implications:The study provides practical recommendations for policymakers and community organizations looking to implement or expand timebanking initiatives.By incorporating timebanking into social welfare programs, it can help strengthen local communities, improve social well-being, and enhance economic resilience.Social implications: Timebanking has the potential to significantly impact society by promoting a sense of community, reducing social isolation, and fostering inclusive economic systems.It encourages active participation, mutual support, and the creation of sustainable local economies, contributing to improved quality of life for community members.Originality/value: This paper contributes to the growing body of research on alternative economic systems by highlighting the underexplored social benefits of timebanking.It offers valuable insights for researchers, policymakers, and community organizers interested in innovative solutions for community development and social welfare strategies.