tüükad

Töökad is a term used in discussions of local exchange economies to denote a unit of value earned by performing work for others and spent on goods or services within a defined network. The word is a coined term, drawing on Estonian-inspired roots, with a general sense of “work credit.” In practice, töökad typically functions as a time-based unit—one töökad roughly equals one hour of volunteer labor—though the exact rate can vary by program.

A typical töökad system operates on a digital ledger managed by a community organization or cooperative. Participants log tasks, assign hours, and accrue töökad credits. These credits can be exchanged for services such as childcare, home repair, tutoring, or goods offered by network members. The value is pegged locally and may be integrated with or kept separate from the national currency. Many programs implement expiry dates to encourage active use, and some limit earnings to maintain governance and liquidity.

Governance generally rests with a voluntary council or steering group that oversees eligibility, ethics guidelines, and dispute resolution. Transparency is often pursued through open or auditable ledgers, while participation criteria aim to balance inclusivity with responsibility.

Benefits commonly cited include strengthened local resilience, support for volunteering and skill sharing, and keeping value circulating within a community. Challenges include valuation disputes, risk of fraud, regulatory ambiguity, liquidity constraints, and the need to ensure broad accessibility.

History and scope: the concept emerges in discussions of time-based currencies and mutual credit within local economies and has been explored in pilot projects in various regions. As a flexible, experimental model, töökad remains contingent on local design choices and community engagement.

See also: time banking, local currency, mutual credit, community currency.