The History of Trade And The Role of Barter System
By: Nansy Dunne
Tags: Barter, Cryptocurrency, Trade, Smart Contracts, Blockchain

Today we will talk with you about the history of the development of trade relations and the role of barter exchange.

Barter was first noted in Egypt around 9000 BC when farmers gathered in markets and traded cows for sheep, grain for butter. With the development of trade routes, the barter exchange has significantly diversified. For papyrus, precious stones, or a chariot, one could purchase an exotic animal, skins, or ore from Africa or Asia.

In general, the ancient commodity economy was directly related to crops and livestock. Grain and livestock were examples of what is called commodity money, that is, money that has intrinsic value and is used primarily as a universal medium of exchange in barter.

Over time, the barter system began to change. There were more goods, tools and it became difficult to determine the price of something. The first difficulties our ancestors faced was product evaluation. The price was determined individually, which caused disputes.

Centuries have passed, but the natural exchange still lives among us. It has changed beyond recognition, but its essence remains the same as in the primitive era.

As with any economic phenomenon, there are pros and cons to the barter system. It helps to preserve capital in difficult economic situations. This system allows you to increase sales without spending money. Today, barter makes it possible to get rid of inventory in organizations without funding. Barter-based transactions make large-scale cash management more flexible.

There are some disadvantages inherent in the barter system. Difficulties often arise in the selection of goods for exchange. It is especially difficult to find a mutually beneficial option if the goods are not exchanged at a favorable price. Barter Smartplace solves the problem of product matching by creating a modern barter marketplace that intelligently selects products based on their characteristics, making it easier to find suitable offers.

Since the days of barter, the means of trade have changed beyond recognition. Thanks to new technologies that allow a person not to work for money, it becomes possible that money will work for a person. Today the blockchain industry is very promising, and the speed of technology development is impossible to predict.

With the development of the economy, barter and commodity money receded into the background but did not disappear completely.

Barter Smartplace has reimagined barter trading by enabling users to tokenize real valuable assets and place them on a smartplace. Now it is possible to easily exchange objects of unequal and equivalent value using this platform. Digital asset technologies increase the confidentiality of the parties to the transaction and the speed of its execution, and a legal smart contract with an electronic signature allows you to achieve high reliability and convenience of service.

The Barter project emerged as an idea in mid-2018 when the cryptocurrency market fell significantly, but at the same time, the demand in the OTC market increased. Barter has expanded its ecosystem to include tokenized real value assets that can be exchanged for any supported liquid token or cryptocurrency. Barter intends to create a blockchain platform for barter transactions, the objects of which can be any tokenized assets and liquid currencies.

The Barter Smartplace ecosystem opens up the possibility of developing the barter industry in the modern world without much effort and investment. Without leaving the walls of your home, going to work or rest, barter exchange will become available to everyone.

📢 Connect to Barter Smartplace for barter exchange at https://barter.company/

Join the community: http://t.me/barterteam

Telegram wallet: http://t.me/barterwalletbot