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Bartering
Bartering operation Background In 1997 the Bargain and Barter Club was formed as a part of New Atlantis. This used a barter currency called favours, recently all favours have been repurchased by the New Atlantis family, so none now remain in circulation. This club like many others is being packaged for development eventually as a consortium. In future rather than issuing its own currency it will use the same barter currency as all other clubs. New barter currency arrangements The new barter currency that will be used across all the clubs and New Atlantis family will be issued by NAISC, with the central exchange run by the 50-50 organization, using central common elements agreed through Internet Consortium, an organization that all trusts and most consortiums will belong to. Often as a part of the package to set up a consortium, a set number of barter points will be issued, and often then as partners are added about 25% of the residue, after taking out agreed costs, is converted to barter points. The advantage of this is that from the beginning and as every consortium grows, it has a healthy barter account, it can help others and acquire more barter points and utilize a wide range of services and more through service providers. Those organizations that have members and approved traders in barter points can get the barter points at a small discount and a barter exchange allows other deals to be done. Ultimately the barter points are very similar to an international currency with no banking charges. When conversions occur this costs the clubs about the same as using a credit card processor, but is only on the surplus units traded back, not on the full turnover. In most cases they are buying barter currency at a discount. From a practical application viewpoint we have a fairly simple central exchange system that just allows units to be transferred between accounts in a variety of currencies including barter units. Attached to this can be any number of other modules, some like the barter exchange allows barter units to be bought and sold and has a contract side to make sure that surpluses held by clubs and some others are recycled ahead of new currency being issued. Through this exchange currency can be converted to barter units and the other way around, by any member.Other modules such as one for deals, allows service provider arrangements to be made and transfers to occur, whether in barter units or any other currency. Similarly other units to connect to classified sales, bargains and a wide variety of other uses, as well as cross currency conversions will be possible. Initially this is all done over the internet, but soon we should have phone modules completed that will allow many of the transactions to be done using a mobile phone. Barter5050 has a main website at www.barter5050.com |
New Atlantis International Services Corporation is a limited
company registered in Belize
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