Trade by Barter
Do still remember the old ‘Trade by Barter’ system? Human beings long ago are said to get what they need from others by giving what they have in excess when money has not been invented? A man who needs hide or skin but has food like yam in excess could give some of his yam to someone who needs in exchange for skin which they have in excess. This could be complex because the person who needs yam may not have food in excess. In this case, the one who needs skin may get what the person who needs yam has which he can use to get what he needs from another person. And also for goods or products that cannot be divided like livestock, barter is at a disadvantage.
Money Vs Barter System
There was no adequate unit of measurement for the worth of goods or services that are exchanged in a barter system. This was the ultimate reason why money was brought into the system of trade. Money became the standard unit of measuring worth. But this later became a problem as some people began to hoard goods just to inflate the price. There is no even distribution of wealth as money became the basic unit of measuring wealth or worth. One of the greatest
Modern Day Barter = P2P
The barter system has been brought into the modern day world through the P2P system. As explained in an article, P2P services have been introduced into many areas of life today. Through some centralized platform, you can easily put up your house for others to live in so as to gain points that can be used to obtain another house to live in from the same platform. You can also use your car to do public transportation when you are not using them to gain some bucks into your wallet.
But these services contain some risks. Since these P2P offering platforms are centralized it is possible to hack their points or credit system to increase another man’s point just to enjoy other people’s services without offering any services. Some P2P services are actually not relevant when you move away from a location. There are presently very few or no marketplace where users can exchange more than one genre or category of goods or services.
Barter on the Blockchain- Sharemeall
The Blockchain technology has more to offer in the areas of P2P and barter system and
The article is for information purposes about the wonders of the blockchain and enlightenment about some of the blockchain applications in Barter or P2P industry. Be sure to do your due diligence before interacting with any project on the blockchain or cryptocurrency.
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