Self-determination, regional networking and decentralization - these are some characteristics of Minuto, the complementary currency. Find out in this post what Minuto is and how it works.

Vouchers as a means of exchange

While it is forbidden in many countries to print money and put it into circulation, Minuto takes a different approach: it is designed as a voucher that is issued and used for quality working time.

Quality working time as currency

The basic idea behind Minuto is that people issue each other vouchers for their time - more precisely: quality working time - and can exchange them with other people. Minuto can actually be described as an "energy voucher", as time x work = energy.

Minuto is also largely resistant to inflation, because working time remains working time.

Decentrally organized

Unlike many other currencies, Minuto does not have a central issuing or control office. Every person who issues Minuto vouchers is responsible for how many they issue, for accepting them and for the quality of their work.

Issue Minuto vouchers yourself

If you want to issue Minuto vouchers, you can find a voucher template on the Minuto wiki and print it on regular paper.

Next, you note the last year of its validity on the vouchers and your zip code so that people can easily recognize in which region the voucher can best be used.

You will also need a stamp with your personal contact details and to sign the vouchers with a pen.

Also, two guarantors need to confirm the vouchers with their stamp and signature. The guarantors undertake to perform a corresponding amount of work if the issuer is unable to do so.

The reverse side offers the space to list your offers or advertise, for example. Check out these samples of vouchers.

For more details see the Minuto wiki.

Paying with Minuto

Minuto vouchers issued can be used for payment in a similar way to cash, at people who accept them.

Accepting Minuto is voluntary - except for the person who issued the respective voucher, who must redeem it within its validity period. The expiry date ensures that the vouchers circulate in the same way as money but will not be hoarded.

If you want to use Minuto, you do not necessarily have to issue Minuto vouchers yourself. It is sufficient to accept them and redeem them with someone.

Regional currency for many regions

Minuto vouchers can circulate in any region as long as the relevant legislator does not prohibit it.

In Germany and Switzerland, for example, Minuto vouchers are legally regarded as bearer bonds in accordance with Section 793 ff BGB or as securities or bearer instruments in accordance with Art. 965 ff OR and Art. 978 ff OR.

For other countries, please consult a local lawyer and a tax advisor before issuing or using Minuto vouchers there.

Paying with Minuto works best in the same region in which the issuer of the corresponding vouchers lives and is trusted. For example, if you want to pay in Berlin with a Minuto vouchers issued in Zurich, the success is low.

Does Minuto have to be taxed?

Minuto was designed to optimize neighborhood assistance and the exchange of friendly services. Sales of this type are usually tax-free.

Business owners can also use Minuto. Commercial transactions in Minuto are subject to tax in the same way as conventional currencies. They are calculated at a conversion rate.

Minuto for social networking

In addition to a means of payment, Minuto is also a practice-oriented, social networking project that focuses on people and their skills.

Minuto is particularly suitable for people who want to support the economic activities of the region or who have many skills but have lost their job.

Minuto is also a welcome alternative for people who feel that their active life continues when they reach retirement age, people who do not want to use official money to help their neighbors or people who enjoy putting creative ideas into practice.

For more information on Minuto check out the Minuto wiki.

Best wishes,
David

Picture credit:
Own work on the basis of an Ilustration by Clker-Free-Vector-Images, Pixabay licence