Community Oriented Mutual Economy

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Community Oriented Mutual Economy, COME - A local currency launched by the Saint James Settlement Christian Center, based on a time bank system.

The COME project prints its own banknotes - time dollars - then transferred to the upstream members. At the time of entry, everyone receives the equivalent of one hour, and the second is for a list of services that are ready to meet (in exchange for the dollars of time) published in the cyclical bulletin.

There are "fair days" when two times a month, members meet to exchange their services in exchange for dollars of time. These are usually simple services such as shaving or shaving. In June 2005, approximately 500 people participated in the program, most of them living in the Wan Chai area where the center is located.

COME is a system similar to Ithaca Hours but targeted to the less affluent part of the population. Local shops do not actually participate in the system, although sometimes donations of property are sold at the center of the shop, for dollars of time. Project participants can also trade their goods for both this currency and normal Hong Kong dollars. Normally, the cost of a commodity is covered in the traditional currency while the profit is made in local currency.

wiki

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