The timebeats proposal is described on this page:
The currency is time based and allows an initial credit to participants to make their education – both formal and informal – count as an asset.
It is described as “… a debt-free decentralised currency called Timebeats, completely based on time. It supports what is universal in every human being, regardless of culture, beliefs, or position:
• we all want to love and be loved
• we all want the opportunity to create
• we want what we create to be acknowledged to be of value by as many people as possible.
All users will default to collaborate and share knowledge to create the highest quality product with minimal resources in the shortest time, perpetuating sustainability and creating a measurable reputation economy.
At the core of Timebeats is education and creativity, funded through crowdsourcing. People are the most valuable asset any project/business can have.
Funding becomes redundant. So do lots of other things, in particular tax, poverty, crime, and most con?ict. The idea of money as a commodity is eradicated; there is no need to make money on money…”
For now, the currency description is an idea. In fact, the author asks for help in developing this into an actual application:
“It’s been almost 2 years of research, verification, and validation and now feedback from various sources demands that I launch the currency to put my projections to the test.
This means I now need a website and app with a transaction module (like a bank; no need for interest calculations, but just as secure) and an exchange module (whats on offer, to learn, to wish). As reputation is now the new measure of status, there is a need to provide feedback on people’s work as well as ranking, similar to social media, but only based around trade. Toaccommodate any mobile device, an SMS transaction protocol is also required for transactions.”