Time Bank using Public Blockchain
Sindhura Arepalli1, A. Naga Kalyani2, Chandrasekhar Uddagiri3
1Sindhura Arepalli, CSE, BVRIT Hyderabad College Of Engineering For Women, India.
2A. Naga Kalyani, CSE, BVRIT Hyderabad College Of Engineering For Women, India.
3Chandrasekhar Uddagiri, CSE, BVRIT Hyderabad College Of Engineering For Women, India.
Manuscript received on March 12, 2020. | Revised Manuscript received on March 25, 2020. | Manuscript published on March 30, 2020. | PP: 3213-3216 | Volume-8 Issue-6, March 2020. | Retrieval Number: F8159038620/2020©BEIESP | DOI: 10.35940/ijrte.F8159.038620
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Time banking is a mode of exchange that lets people to use time as exchange currency instead of money. By registering in a time bank, people agree to take part in a system that involves earning and spending ‘Time Credits’. When they spend a unit of time on an activity to serve others, they receive one time credit. Later when they need service from others, they can use the time credits that they have earned and saved. Time credits are also transferable to their nominees. Block Chain technology is used to implement this design to ensure robustness, transparency and security. Ethereum, which is a public Block Chain protocol was used to remove third party intervention. Block chain is used as ledger to keep track of the activities in the time bank accounts, such as sign up, recording the credits, tracking the events etc.
Keywords: Blockchain, Ethereum, Time credits, Time bank.
Scope of the Article: Blockchain-enabled IoT Device and Data Security and Privacy.