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How Bartering Works
in the Modern Economy


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In this episode of Money Creation Explained, we are going to cover How Bartering Works in the Modern Economy.

Before money was invented, people would barter products and services with each other. Bartering is the oldest form of commerce. An example of a bartering transaction is that a contractor builds a fence for a farmer. In this example, if both parties wanted to barter, the farmer could trade with food items for either the labor and materials or either item separately. Bartering still exists today but there many challenges with it in the modern economy.

Barter Notes is a service offered by IOU Notes that takes the long established concept of bartering, and created a platform that is secure and easy to use. Until now, if a person or business wanted to trade their products or services, they would have to find a suitable trader, which is a very time consuming process. Another option would be to join a bartering club, but each club is different, and there are a range of fees (such as signup, membership, monthly, and annual). The main problem with bartering clubs is there are a limited number of members and those clubs only allow certain products or services to be traded. Also the members often increase the real life prices of these items for the bartering club. So it is hard to find good deals, and for these reasons, most people do not utilize the power of bartering.

Our Bartering service is different. It offers many benefits to both Buyers and Sellers. Transactions can take place online or in person. Bartering Notes has created a system where a bartering option is a viable and attractive option for individuals and businesses. There are no signup, membership, monthly, or annual fees.

Bartering Values must match real life dollar value. For example, if a Hair Salon that charges $25 in the real world for a haircut where people pay with cash, credit card, etc. when accepting Barter Notes, the charged price must also be $25. The bartering value will be regulated by other users on the IOU Notes Platform and user's can file complaints on other users that are over-charging. We will investigate those claims and take the correct measures (temporary suspend that user's barter features, etc.)

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