VOLTimebank

Abstract

With the process of the population aging, the problem of the aged in the urban is becoming increasingly prominent in China, especially the shortage of pension resources. In order to solve this problem, we proposed Volunteer time bank (VOLTimebank) based on blockchain, a novel distributed ledger that allows transactions without any third party organization. VOLTimebank is a record management system to handle volunteer service records. The system provides a channel for volunteers to serve the elderly and gives volunteers a way to exchange the services they can offer today with the services that they hope to get in the future. And a Delegated Proof of Stake (DPOS) consensus mechanism is used to select auditors, whose main task is to audit volunteers' services. Each holder of the (volunteer medals (VOLMedals) has the right to vote for auditors and be voted to be an auditor. As a proof of concept, we present a prototype implementation of VOLTimebank via smart contracts based on Ethereum. VOLTimebank is a true realization of "Serve today, enjoy tomorrow", encouraging more people to take part in the volunteer services, for the elderly and for themselves. This paper is intended to illustrate the ideas and methods of VOLTimebank.