Adoption of Cryptocurrency in the Modern Barter System
For centuries, the only means of trade was the ancient barter system, through which people could exchange goods or services without using money. Bartering in those times required a lot of time to match the need and want of the two parties involved.
With the new age came a new and simplified method of trade, ‘money’, accepted by people as a medium of exchange. Although money did not completely rule out bartering, it gave birth to a more centralized system. History proves that whenever money lost its value, people resorted to barter system to survive the turmoil. Hence, bartering continued to co-exist with money.
Gradually, with the dawn of a sophisticated trading technology aided through the internet, bartering has gained its position back. ShareMeAll, knowing the importance of the barter system, has attempted to amalgamate cryptocurrency and blockchain technology in the core of bartering.
The New Age Barter System
ShareMeAll is a community project that provides a platform to exchange or share anything and everything imaginable. This sharing travels beyond borders empowering individuals from every corner of the world to share objects, services, skills, experiences, and accommodation. It is a project that has taken an initiative to merge the traditional bartering with the modern Blockchain technology to establish a new-age barter system. ShareMeAll serves as a go-to option to avail or exchange goods and services.
It advises an optimum utilization of goods that otherwise may be lying idle and useless at someone’s house. The subtle design of the interface enables users to easily understand, operate and navigate through the platform.
The platform incorporates and integrates the blockchain technology with the aspects of smart contracts, making the platform transparent, secure, and direct. Smart contracts are regulated by computer codes to stamp the deals and contracts with details that are accessible by public. The Project attempts to design an idea that enables usage of blockchain and cryptocurrency by all classes of people globally.
The key feature of the platform, eSwitch®, is ShareMeAll’s own currency. ESwitch® is Ethereum blockchain technology based tokens, to be used in trading goods and services on the sharemeall.com platform. Each exchange on the sharemeall.com platform is secured by the crypto eSwitch® blockchain, providing an exchange of trust. The tokens can be used on an internet and mobile platform, and exported to a cryptocurrency wallet. Features and advantages of the sharemeall.com platform are as follows:
- ESwitch® tokens, can be earned by offering an object, service or nights to another user.
- The tokens can also be transferred to a cryptocurrency wallet and converted into crypto or fiat currency.
- The risk of investment is limited to the eSwitch® obtained or invested through sharing and exchanging with other members.
- Users have the option to connect face-to-face, and share real-world experiences and offer accommodation.
- An internet and mobile platform will be created for the ease of token use.
- The value of the token will depend up on their use.
- In the initial phase of ICO, tokens will be credited to user’s account depending on number of services or goods offered. These tokens can be transferred to the crypto wallet after a month of earning eSwitch® to curb fraudulent activities.
- Services will be free of charge throughout the expansion period, after which a 1% charge in ESW will be levied for each share.
Any organization or company can easily access the platform and use the token in its business model with a prior agreement with ShareMeAll. The platform intends to partner with renowned crypto exchanges and financial institutions to facilitate a smooth exchange of the tokens with fiat or crypto currencies.
- ICO pre-sale began on Jan 15 2019 and will end on March 14 followed by phase 2 of the sale ending on May 15 2019.
- 15 million tokens will be available for sale in the ICO commercial phase.
- Accepted currencies are ETH, BTC, USD and EUR with Canada, Singapore and US being restricted countries.
- Softcap is 2 million Euros and hardcap of the project is 7.5 million Euros.
The ICO has also developed a discount module based on the quantity of eSwitch® purchased. No discount will be given for the value of 199 Euros, but a 10% discount will be available for the purchase of ESW worth 200€ to 499€ 20% discount for 500€ to 4,999€ and 30% discount for above 5,000€ worth purchase. ShareMeAll plans to use the raised funds for marketing and technical development, for an mobile platform, API and a new version of sharemeall.com.
ShareMeAll is a unique concept to bridge the gap between like-minded people that are spread out globally through a virtual platform, and connect them in real-time. Besides establishing a global network for people to trade, the platform also seeks to integrate a seamless blockchain technology in the daily lives of millions of individuals. This project will bring about a revolution in the traditional barter system and add a new facet to the ancient practice.
Featured Image via sharemeall.io
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.