Users will browse online-job openings, and submit bids stating how long the user would require to complete the job, typically in the range of half a minute to 7 minutes. Lowest bidder gets the contract, performs the work, and gets paid in labor funds per the low-bid time. The user can now use those accumulated labor funds to hire other users to work for him/her, to provide him/her with services. Thus NewEco labor funds provide a form of currency which is earned then spent, replacing traditional currencies such as the dollar.
Update 2013.Apr.30 (edited Dec.16): Per standard jargon, my proposed "labor funds" are effectively Promissory Obligations, backed by future services measured in units of time, instead of representing or being backed by physical goods such as precious metals. If these are issued externally in negotiable form, they become Promissory Notes, a.k.a. "money".
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