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@willski
Now its getting interesting. So we are securitizing labour to abstract its intrinsic value and use it elsewhere. There is the risk here that the mechanic or LBS may refuse to redeem the work - I'm not sure how Moodys or S&P would rate this, but I'm guessing that it would be below AAA.
There is also a derivative element here, as you would be issuing securities for work to be conducted in the future, thereby allowing speculation on their value. If bike mechanics were scarce then the value of our currency would rocket - as long as these mechanics didn't default. Either way, there is a lot of risk in here, and personally I would want to see some decent spreads before I got involved.