P2P Time Bank based on CHEs-ROCS system - the way of implementation of

ROCS Time Bank system for over-regional use. Originally described in "The Future of Money" by Bernard Lietaer, as "ROCS combines the most robust features of the various complementary currency systems in use today" ROCS: www.transaction.net/money/rocs - main idea of ROCS to invent time-based currency capable for measuring skilled labor and hard work. Special "effort" was made to solve over-regional problem for ROCS: Hour of same kind of labor costs differently from country to country. http://che-rocs.wikispaces.com/

Main idea is to use as currency unit - one hour of basic, unskilled labor, approximately equal in value to hourly minimum wage in particular region. It is named CHE - Common Hour Equivalent. If official living wage is higher then minimal wage, first should be used. For calculation of CHEs-currency for multi-regional countries (like Russia) - "Weighted arithmetic mean" of all regional minimal wages should be used. Same is for the World CHE-unit UNC - "Weighted arithmetic mean" of all regional/national minimal wages.

Every region/country gets its local time based currency with a code XXM, where XX -country code acc. https://en.wikipedia.org/wiki/ISO_3166-1_alpha-2. and M - as Minimum wage. Of course not for all countries codes are available. The final codes will come with Ripple Custom Currency Futures. Here some CHEs-unit codes, rates and issuing accounts:

1 AUM = 16,37AUD = 14,58USD - Australia raUm5mKf6jtdhkMYWi1q56QWTBodyfqdiU

1 BYM = 8337BYR = 0,959USD - Belarus rBYMJs5iQRcbtkysQB1n8cS97D4vMK9KT8

1 CNM = 4,17CNY = 0,681USD - China

1 ESM = 4,26EUR = 5,683USD - Spain rESmCnnvG9FYf17YQ41CPBwoxqmfjLgjA7

1 FRM = 9,43 EUR = 12,51 USD – France rfRMHQkAGXVf9cKN3YkDYGtbnYCyWw9ktd

1 GBM= 6,19GBP = 9,285USD - UK

1 KZM= 114,2KZT = 0,757USD - Kazakhstan rKZMur9jjyG1GkyjUnEVn1SZpNbCmWis5J

1 PLM = 9,90PLN = 3,12USD - Poland rPLmh5ZsiWumL2UdbVLJoMT5RnDqsEgDHM

1 RUM = 36,43RUB = 1,177USD - Russia rRU3PLyN3eYRCmZi7GQRojdzjp3z3PG22

1 SEM = 75,21SEK=26,62USD - Sweden rsem3MPogcwLCD6iX34GQ4fAp4EC8kqMYM

1 UAM = 7,33UAH = 0,867USD - Ukraine rUAMuQTfVhbfqUDuro7zzy4jj4Wq57MPTj

1 USM = 7,25USD - USA rUSM579pzzmXHEnJHa7AzzD1oS8KvckFHa

1 UNM = 1,90USD - World WAM rUNMupAKF6d2SRg9LAqYPVZiWHTiPXBseH

For the moment issuing accounts are just a "meeting point", please, do not give them Trust more then 10 of CHEs. Mostly people will need to use only one regional CHEs currency. UNM is used till exchanges start working.

What finally do we have? CHEs - is a system of standardized local non-inflation time-based currencies. In every country i.e. watchman will get 1 local CHEs per hour and this should be enough for living in that particular region. Main community webpage http://vk.com/bank.vremeni