"Money," wrote Jamais Cascio, "is the tangible manifestation of an agreement between you and other people that the oddly-colored piece of paper in your hands has value."

But what's truly valuable is not those units of currency, so much as the units of time they represent to those who earn and spend them. Two women from Ashland, Ore., who follow this philosophy have created a way to turn units of time into currency that can be directly traded and tracked through their online system OurNexChange. This "community currency" allows local residents to buy goods and services without exchanging any money.

"The whole idea is to harness the resources of our businesses, organizations and government into a system that provides sustainability," Miranda said.

This would be done through a Web-based system that would track the exchange of currency units through users' accounts. There would be no tangible money.

"The idea is it's an online complementary currency exchange program," VanWyhe said.