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BIT: A Blockchain Integrated Time Banking System for Community Exchange Economy

机译：BIT：用于社区交流经济的区块链集成时间银行系统

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摘要

Advancements in Artificial Intelligence (AI) and Big Data technologies are reshaping the global economy. The community currency network is receiving more attention through enhancing social ties within a community. As the most popular type of community currency, Time Banking (TB) is a generalized community exchange economy, which uses the time to evaluate each participant’s contributions on the same scale rather than any equivalence with the official national currency. TB is a noble idea with the potential to improve the quality of life through prosocial, reciprocally beneficial activities among community members. However, it also brings new concerns about security and trust issues. Inspired by blockchain and smart contract, this paper introduces a Blockchain Integrated Timebanking (BIT) system to secure a decentralized community exchange economy. In BIT system, service providers and recipients can securely exchange effort through a self-executing smart contract without relying on a third-party trust authority. The blockchain network ensures immutability, auditability, and traceability of all data and service transactions recorded on the distributed ledger. A proof-of-concept prototype was implemented and tested on a private Ethereum network. The experimental results verify the feasibility of the proposed BIT to provide decentralized community service exchanges with limited computation overhead and network latency.
机译：人工智能（AI）和大数据技术的进步正在重塑全球经济。通过增强社区内的社会联系，社区货币网络正受到越来越多的关注。作为最受欢迎的一种社区货币，时间银行（TB）是一种广义的社区交换经济，它利用时间来评估每个参与者的贡献程度相同，而不是与官方本国货币相当。结核病是一个高尚的想法，有潜力通过社区成员之间的亲社会，互惠互利的活动来改善生活质量。但是，这也带来了有关安全性和信任问题的新担忧。受区块链和智能合约的启发，本文介绍了一种区块链综合时光（BIT）系统，以确保去中心化社区交流经济。在BIT系统中，服务提供者和接收者可以通过自动执行的智能合约安全地交换努力，而无需依赖第三方信任权限。区块链网络可确保记录在分布式分类账上的所有数据和服务交易的不变性，可审计性和可追溯性。概念证明原型已在专用的以太坊网络上实施和测试。实验结果验证了所提出的BIT在有限的计算开销和网络等待时间下提供分散社区服务交换的可行性。

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