Time tokens would be of little more use than the currency we have. In fact, it's probably a better form of tallying value, and simpler. Imagine having to pay a certain amount of seconds or minutes for produce at the store, which directly correlates to your life. Plus, how would you manage the fact that people have varying life spans? You'd end up pricing things based on a predicted lifespan, but if it's cut short for (reasons), suddenly everything's scuffed in the economic system.
Now, if there was a way to convert these time tokens into an actual lifespan extension, like that movie "In Time", then maybe you have something going for you. But that's way beyond our current technological prowess.
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The time/duration tokens create equal distribution.
The time/duration tokens stop centralized banks(family's) creating money and create a decentralized medium of obtaining money.
The time/duration create the supply in which no one is in debt to it.
The tax fees from collecting duration will fund space programs, food, water and shelter and the decentralized government itself.
Active voters will be doing a job, which will make them more than base wage, they would get workforce base wage.
People enterprising or businesses could earn even more for trading goods and services.
Life span in a non factor, sure some people get less time than others on this planet, but you will still earn it at the same rate of "base wage or base time" kind of like minimum wage.
Which could either be 1 token every 1 hour or 1 hour itself if you`d like to look it in that way.
I could sell produce for 1 token, which represents 1 hour that you obtained from incremental duration being expended into your unique digital passport/address or from your enterprising earnings.
I could sell you 10 apples for 1 token which represents 1 hour or 1 apple for .1 of a token which represents 1/10th of a hour.
I been going to the market since I was a kid, I am a farmer, I could charge you 2 hours if I wanted for 10 apples or charge you 3 hours for 10 apples, whatever I want, That is up to the seller to decide and the buyer to agree upon or not buy, just like how I could charge you 10$ or 15$. Just like mcdonalds charges $2.50 for a mcdouble, they can charge whatever they want.
(e.g. if the average hourly rate is 1 token, then a commodity valued at 1 token in the national currency(time/duration) would be equivalent to 1 hour).
I mean just some ideas. I don`t have any system created to do this, but It is possible with tech we have today. I am not a programmer, I am a farmer and pro gamer, top 100 in starcraft2, top 10 in overwatch, top 2 in planetary annihilation, top 1 in heroes of the storm, top 1 in pubg first person solo`s, top 1 huntercoin king killer. I look at the economy as a game now and everything.