Equity Exchange Network:

DMSC recognizes that its members are its most valuable resource. The possibilities that emerge when DMSC members pool their knowledge, creativity, and skills together are both powerful and progressive. To encourage the sharing of information, as well as incentivize acts of service, DMSC wishes to introduce and support an equity exchange network.

What does this mean?

DMSC is looking to design an online marketplace where individuals can offer their skills in return for other services, or eventually, student debt forgiveness. Time spent providing a service for others will be documented and quantified in a user’s equity exchange bank, a program that calculates the amount of credits your service is worth. With that credit, the user may then purchase services from another user. Visit time banking concept to learn about how this system works in other communities.

The beauty of this system is:

1)   The system is egalitarian. Everyone has something valuable to offer, and depending on how much time you put into the system, you will receive a return on that investment of equal value.

2)   Service opportunities are diverse; this system provides people from all walks of life a network to market their education and various skills. As an online marketplace open to all, diversity flourishes and innovation is welcome.

3)   The system is flexible; there are no limits concerning what a user may earn and trade. Here is a system where you may freelance your work whenever you need to, or whenever you want to. Beyond the scope of your day job, you are able to enrich your own life by enriching those of others. To better conceptualize how the spare time in your day may appropriate new value, check out cognitive surplus.

Familiar with VISTA/Americorps/Teach for America ? DMSC is looking to these models of contracted service to establish a process of loan forgiveness for members of our equity exchange network. Rather than receive credits to spend on services, individuals that choose this path would have the option to work toward contracted volunteer allotments, resulting in debt forgiveness.

Interested in further reading? Check out Tim O'Reilly's blog  new workforce waiting, to learn how this idea has taken off in other formats, and how it may influence future business transactions.