We in the Economics Group of Transition Chichester have devised and created a wonderful new currency which we want to encourage you all to join. The more members the more effective it will be!

Based on the Closed Commons concept of group ownership, which protects against exploitation by people who don’t share the ethos of the group, we are ready to launch….

This is a paper note, time backed currency. Each note is worth a nominal One Hour of Time, which members of the scheme offer or ‘buy’ from each other for a huge number of different services. Everyone’s time is equal in value, according to our egalitarian ethos, so whether you are a surgeon or an unemployed school leaver, you can offer an hour of your time or purchase an hour of someone else’s for services they and you offer.

The interface for using the TChi will be a secure website where members will supply their own profile of what services they offer and can find the services they seek. They will be able to alter their profile whenever they wish. Those not currently computer facilitated will be offered a paper copy of members’ services, which will be updated periodically and re-printed.

The beauty of this Time Backed Currency is that there is minimal administration, as all the activity is through exchange of these superb notes, designed by our very own artist/craftsman Keith Dodman. Examine it closely for features and metaphors galore. On the reverse there is space for each ‘transaction’ to be noted, dated and initialled (in tiny writing) providing a social history of our comings and goings that will no doubt be fascinating.

In order to launch this exciting project a one off membership fee of £10 per person will be required, which will fund the production costs. For this joining fee they will receive seven TCHIs. None of the Economics Group members will receive a penny of this, and if, in the longer run as more an more people join and a profit is made, it will simply be added to the Transition Chichester funds, enabling promotion of community projects.

The scheme will be monitored at intervals by the Economics Group and further notes printed and distributed as needed to facilitate community interaction. New members’ joining fees will pay for further note printing so no further costs will be incurred by original members.