The idea of denominating money in labor had been suggested by anarchists and syndicalists in previous decades. Community money is also an idea from recent history. Following the Panic of 1929, many small towns created their own local scrip. Today, during centennials or other celebrations, towns sell, and merchants redeem, tokens that are good for 50 cents or a dollar. Authors are paid 10 cents a word, plus a subscription.
Authors can assign that subscription to anyone, thus commoditizing it.
In fact, there are many avenues of unofficial banking. Coin stores buy and sell gold and silver bullion. There are many reasons for this and obviously, large speculations are not for the average person. In 1960, a paper-back book of 1000 pages cost 95 cents. In the 1730s John Higley of Granby, Connecticut mined copper and issued his own coins.