Minkay

With an unemployment rate of 9.7% (WBO, 2013) and a GINI coefficient of 0.587 (CIA, 2014), Colombia is an excellent place to start Minkay, a favour-swapping platform targeting underserved communities, starting with low-income communities and expanding after the public launch to college students and young professionals.  The pilot program uses an online forum and SMS text messaging for community members to exchange services with the alternative currency “time.” Redefining wealth and social welfare – Minkay emphasizes that everyone has something to offer and that an empowered community can provide support for itself. After registering, the member receives a profile with which to advertise the services they offer or need. When a service is completed, the member receives “credit” in the form of hours based on the amount of time taken to complete the task. With the hours earned members are able to acquire other services offered by fellow Minkay members. Through a well-established review system, members can make informed decisions about who to interact with and to expand consumption opportunities.

Minkay targets individual users in order to become a global social network of interactions, incentivizing people to share their unique set of skills and giving communities the opportunity to cultivate social capital and social cohesion.  Within the framework of the Millennium Development Goals, Minkay offers an innovative approach to advance several goals, especially economic opportunities and skills development, information and communications accessibility and gender equality.