Press Release: 23/11/2011
Contact: John Durrant, Founder | +44 (0)7753 409901 |
FAVABANK Announces Pre-Launch Alpha Version of New UK Social Bartering Website.
Favabank is a free social bartering website encouraging users to share their time, skills, resources, spaces, and everyday items with one another, using a virtual currency. This website provides a place for neighbours in the UK to get to know one another better through sharing favours and reducing waste by passing on everyday items.
Favabank.co.uk is a free to use neighbourhood portal for bartering favours and everyday items amongst community members. Favabank offers a mutual credit currency, called a 'Fava', which accounts for all transactions. Users may crowdsource favours, in the form of time, skills or resources, by posting geographically searchable wanted & offered ads. The website matches those with resources, skills or time available to those with a compatible need. Favabank falls into the growing trend known as 'Collaborative Consumption' which describes the use of technology to facilitate peer-to-peer sharing on an unprecedented scale.
Favabank.co.uk allows users to build their bartering reputations through the transparency of historical user transactions and its feedback system. Users may get to know one another through a social area, private messaging, and viewing suggestions of other users in their area who they may wish to connect with. Users are invited to think about the skills or resource they have and how they could share them with others in their neighbourhoods.
This social bartering website is ideal for people who want to contribute more to their community by discovering needs they may be able to fulfil. By connecting with their neighbours on Favabank, people can begin to feel more integrated with their communities, discovering the names of other people living on their street. It will be easier for them to ask for a neighbourly favour if ever they should need to.
With economies in decline, ordinary people being hit by job losses and government austerity measures, and concerns over the very survival of some of the world's currencies, we can build our own currencies for small local transactions between ordinary people. Each unit of the 'Fava' currency is created the moment that a trade occurs, showing as a debit / credit on the accounts of those involved in the trade. It is a peer-to-peer currency derived from the act of helping a fellow community member and the size of the Favabank economy will come to reflect the size of neighbourhood good will and generosity.
The website has been alpha tested in the UK during 2011, receiving a warm response from those have have used it. For those wanting to unleash the potential lying dormant and undiscovered in their own street they can now start connecting with their neighbours at www.favabank.co.uk
Favabank is a UK based social bartering website allowing users to share their time, skills, resources, spaces, and everyday items with one another, using a virtual currency. This website provides a place for neighbours to get to know one another better through sharing favours and reducing waste by passing on unwanted items. Favabank is currently in final stages of alpha testing, with launch anticipated in 2012.
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