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Social Bartering with Favabank...

Favabank Community Bartering Favabank is modernising the age old idea of barter, exchanging items and time as favours between members of your community. Connect with people in your neighbourhood via the exchange of favours.

Bartering Favours Next time you need a helping hand or need to borrow something, why not try to source it from your local community?

Barter and Recycle Your Unwanted Stuff All barter exchanges are tracked using a virtual currency called a 'Fava', to create a 'gift economy' where the more you have given, the more likely that people will want to reciprocate. The Fava is the foundation for 'pay it forward' economics.

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Favabank: A 5 Year Vision - WARNING: May Contain Optimism...

Posted by John Durrant on Saturday 5th May 2012, 1:33PM

Let's imagine it's 2017, 5 years from now, bearing in mind that 5 years ago Facebook was still a new phenomenon that might have justifiably been considered a passing fad, and 'Twitter' was more associated with the chirpy avian sounds.

So with a bit of luck, a strong tail wind, and the right support from insightful early adopter users in the beginning stages, here's my absurdly optimistic vision of how Favabank might be used on an average day in 2017...

5th May 2017 | 7:23 AM
Dismayed at the price of a Train journey from Reading to Bristol, Emma had posted a lift request via a CarPooling app. She has just heard from Connor who will be travelling from London to Bristol on the same day, they agree to go halves on petrol and Emma gives a few Favas as a thanks via the Favabank ePayments portal on the CarPooling website.

5th May 2017 | 8:15 AM
On the way to work, forgetful Tom realises it's bin collection day, and he's not put them out. No problem, he knows that one of his neighbours will see his favour request and put them out for him.

5th May 2017 | 8:49 AM
Anticipating a dreary day in the office, Gemma is delighted to receive a Favabank alert. A book on her Amazon Wishlist has become available from another person in her neighbourhood. She arranges to pick it up from Karen on the way home from work.

5th May 2017 | 9.30 AM
It's the start of the Corporate Skillshare day at BigCorp. An event curated by Favabank. Employees discover each other's hidden talents as all sorts of skills sharing activities are underway, one employee is offering a unicycling class, and another is teaching calligraphy. Even the CEO is getting involved by offering photography tips. The net effect is a boost to staff morale resulting in a productivity increase and the experience of creative skills sharing and new friendships formed translates to an increase in innovation activity in the workplace.

5th May 2017 | 11.46 AM
David drops off some shopping for Phyllis, she lives in a rural area and since they stopped the bus route she relies on her neighbours via Favabank to run the occasional errand. In return, she offers space in her back garden via a Landshare website, which now facilitates Fava payments via the Favabank ePayments portal.

5th May 2017 | 12.00 PM
Favabank announces healthy profits for the first quarter of the year. This is great news for members who have joined the Favabank cooperative as they look forward to enjoying the rewards from their contribution.

5th May 2017 | 12.32 PM
Alison has noticed a few Favabank Shareboxes cropping up at the front of people's houses in her neighbourhood. Curoius, she opens one as she is passing and inside finds some books, garden produce and children's jigsaws that the occupants have deposited to share. She finds takes the Jigsaws, and pays in Favas via her phone there and then by entering the code on the Sharebox. The boxes are nicely built and decorated, and give a really neighbourly feel to the area. Some residents even claim their presence adds a little to property prices.

5th May 2017 | 1.27 PM
Favabank welcomes a new member, Frank. Frank has become isolated and depressed after the separation from his wife and the loss of his job. He brings this up in a visit to his GP who suggested joining Favabank to get more involved in his community. Frank is looking forward to helping people with their gardens and allotments.

5th May 2017 | 2.59 PM
Third year undergraduate student Isobel is mentoring a small group of second year students in preparation for their History exam. Isobel finds that teaching others helps to re-enforce her own knowledge, and the Favas she earns fund her lifts home via the university CarShare group on Favabank.

5th May 2017 | 3.07 PM
Carly returns from her walk along the canal, she's sick of all the litter that lies along the towpath so logs on to the Favabank Pledge bank. She Pledges a few hours of her time if a few others will join her in doing the same. Her neighbours will see the pladge and will have the opportunity to donte some Favas to the activity as a thanks to anyone who takes part.

5th May 2017 | 3.14 PM
Mike is out cycling 20 miles from home when his front tyre punctures, he's forgotton his spare inner tube. Within 5 minutes of posting a Favabank SOS via his phone, Robert has responded to say he is on his way with an inner tube & tyre levers.

5th May 2017 | 4.38 PM
Tara reluctanly posts a 'Lost Cat' notice on Favabank, along with a picture of 'Freddy' - she knows that if he is somewhere in the neighbourhood, someone will let her know.

5th May 2017 | 5.23 PM
Charity worker Emily checks the status of her Favabank request for volunteers. She is able to offer few Favas to entice each volunteer as some people have been kindly donating their excess Favas for such purposes. The volunteers aren't too concerned about the Favas received, but they do like the social recognition received for doing their bit.

5th May 2017 | 6.42 PM
John has been building his own guitar, it's his first attempt and he doesn't have many of the specialist tools needed, so he posted it as a project on his Favabank profile. As a result, he's been spending Favas on all sorts of help along the way, from advice to the loan of tools and a workshop. This evening he's taking it out for its first live gig. It's a free performance but John lets the audience know his Favabank account details in case any of them wish to show their appreciation...

5th May 2017 | 7.15 PM
Robert and Lesley sit down for a meal at local restaurant they've not tried before. The restaurant has started to accept Favas as part payment for the bill. The restaurant delights their customer, who'll be making many more visits in the future. The restaurant knows they'll be able to redeem the Favas with the local printer, next time they produce a new menu.

5th May 2017 | 8.00 PM
There's a local meet-up down the pub tonight, organised by a few of the residents who'd met each other via their Favabank activity.

5th May 2017 | 9:17 PM
Raj reads through the responses on his post requesting restaurant recommendations near his holiday destination. Some locals have made some suggestions and he has thanked a couple of them by sending a 'MicroFava'...

5th May 2017 | 11:01 PM
Louise is having a drink in town, she's just received a response for her earlier Favabank request for anyone to share her taxi home. Ellie lives in the same area and they've agreed to catch a taxi together in half an hour, sharing the costs and feeling safe. They've got lots in common and have a great laugh on the way home, agreeing to meet up locally for coffee sometime.

Well I hope you get the idea. Of course these entries are fanciful wishful thinking at this stage, the point is to open people's eyes to the potential uses of Favabank.

Some of the above items relate to plans for further feature development which may be found in more detail here: http://www.favabank.co.uk/index.php/social/view/19/Favabank-Features-Ideas - anyone else's ideas and suggestions are of course welcome.

*The idea of the 'Favabank Sharebox' - mentioned in the above '12:32 PM' entry has been borrowed from this idea by Little Free Library, take a look it's a really different idea: http://www.treehugger.com/culture/little-free-library-tiny-community-libraries-todd-bol-rick-brooks.html

2 COMMENTS | [ Login or sign up to reply to this post ]

 

Reply by Daniel Goodridge on Tuesday 4th June 2013, 7:21PM

John, I have so many questions for you. My friend and I are actively designed a Mutual Credit Exchange of our own here in the States and I have a lot to ask you regarding the genesis and marketing of your site. Unfortunately, it doesn't seem as though you had much success in the latter.

I have some ideas of my own that may help you to improve upon Favabank, and hope that you may be willing to share some of your experiences with me to save me some hard-earned lessons.

feel free to email me directly at

[ Login or sign up to reply ]

 

Reply by John Durrant on Tuesday 4th June 2013, 10:31PM

Hi Daniel

I've just sent you a message...

John

[ Login or sign up to reply ]

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