While cryptocurrency is currently the center of the hype in the finance sector, most big industry players are gravitating towards its underlying technology. Several top-tier executives like Warren Buffett have been pushing the “Blockchain not Bitcoin” mantra which others have adopted.
Executives believe that cryptocurrencies like Bitcoin is a bubble which will burst, leaving their underpinning technology behind. The technology, which has been applied in problem-solving processes within several industries including agriculture and real estate is quickly gaining traction in the finance industry as well. It has recently been used to solve several complex payment problems, including “bartering”…
What is bartering?
Bartering involves the exchange of goods and services for other goods and services of perceived equal value. Today, money is a generally acceptable means of exchange, but before the creation of money, bartering was the primary means. People could barter exchange things like clothes for food, and services like a shoe repair in exchange for a cleaning service and so on. Since bartering caters to the specific needs of society, there is no point in producing more or less than needed. As a result, there is never an issue of overproduction, underproduction or artificial scarcity in a barter system. It has a moderation that is difficult to recreate with the current financial industry standards.
Disadvantages of traditional(old) bartering…
*People who want to exchange one item or service for another must find other people who are in need of what they are offering.
*Although barters take place between items of equivalent value, there is no unit to determine what is equal and what is not.
*Another disadvantage of the barter system is that due to the absence of a conventional means of exchange (money), there is no divisibility.
*Under old barter system, it is difficult for individuals and businesses to accumulate wealth because there is no system of storage.
*Item being exchanged is different and difficult to draft contracts concerning deferred and installment payments.
Advantages of traditional(old) bartering…
*bartering between the same vicinity and helps people avoid the issues typically linked with international trade.
*Another major advantage is that due to the nature of goods or services exchanged within the vicinity, economic power is shared evenly.
*Exchanged for traditional bartering cannot be stored and there’s no accumulation of excess wealth.
*Old bartering minimizes the occurrence of waste and maximizes the use of natural resources is because things cannot be bought, only exchanged for items of equivalent value.
BLOCKCHAIN TECHNOLOGY SOLVE THESE ISSUES…
*Blockchain technology is a distributed digital ledger on a peer-to-peer network, which records for every transaction carried on it, using this technology most blockchain platforms have their own cryptocurrencies which serves as a means of exchange(universal bartering).
*Engaging traders to barter using a consensus mechanism that allocates values to a specific product or goods and using digital asset as a means of exchange as mentioned above, many of the issues associated with an old bartering can be solved. Several companies are already working on such smart solutions, and one prominent example is DCA.community …
“Crypto-Bartering-System” how it works with DCA community…
A new concept in crypto…
DCA created a decentralized ecosystem platform to support community to trade and bartering activities, product and services on the platform can easily carry out barter without worrying about any of the issues associated with a traditional or old bartering system.
DCA.community using the first decentralized crypto bartering system and focuses on the exchange between two kinds of most popular Ethereum blockchain and Tron blockchain.
DCA & XDCA bartering advantage is that our digital currencies can be used from anywhere in the world and this eliminates location barriers and promotes international trade…
DCA can be swap/trade/barter to XDCA directly via tipping bot or wallet to wallet and also XDCA to DCA at a current specified ratio.
DCA/XDCA adopting cryptocurrency as the modern-bartering-system, bringing uniqueness and contributing to the world of stock market.
Our ecosystem will also serve as an upgrade for the outdated financial technology used by our merchants,users and community members.
DCA decentralized ecosystem aims to give our merchants and users the chance to automate on their exchanges so that more time can be spent focusing on their businesses and family.
DCA & XDCA crypto bartering system believes with this digital enhancements such as blockchain technology it can work well, hopefully with our unique ideas or system more project also comes a more efficient and cost effective bartering system will rise on the market and widely accepted again.
Love it or Hate it, we are decentralizing barter system…
Technical specifications: DCA
Token name: Decentralize Currency Assets
Max. supply: 888,000,000
Smart Contract: 0xa6281838f4a9c5736b2aa1cba9260d3f879623ca
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More informations check our website: https://decentralizecurrency.net