Awhile ago I was involved with a start up that was trying to create a barter driven system for online transactions, leveraging the power of the community rating, meritocracy and subversion of traditional currencies to both lubricate commerce and cut out a number of the middle men" who add drag to commerce,
The start up never really got off the ground – our timing was a little off, the potential investors and partners weren’t too interested and our bandwidth got compressed to a ping where it had to be relegated to the back burner. I still firmly believe in the concept however and so was stoked to read this post over on Aardvark Daily asking whether the time was in fact right for a cyber-dollar, a cross border standard currency, to be introduced.
I have to say a resounding YES. The current economic situation, coupled with the vagaries of our banking and financial system – make the return of barter, but with a web-enabled meritocratic twist, a complete no-brainer. It might be just about time to dust off that presentation from a year ago or so.
What does the community think – a return to barter? Or not?
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