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Timebanking was started by Edgar Cahn, a professor and a lawyer, in 1980. By valuing services and goods with time instead of dollars, he saw that timebanking would be an effective way to restore community and recognize and reward civic engagement. He began the Time Dollar Institute and today it is known as TimeBanks USA. Timebanks are founded on five core values: asset, redefining work, reciprocity, social networks, and respect.
In YYYY, the Bay Area Community Exchange created a timebank. Since 2017, the Timebank has been led by AZ Zaidi and Carl Gorringe.