The concept of barter dates back to 6000 BC with the first metal-based money dating back to as far as 5000 BC. Barter transactions have generally grown around the world with the World Bank reporting its estimation to be worth $23 billion USD. More than half of the world’s population strives for discounts, deals, and flexibility in payments.
The current Barter Exchange industry, confined in this massive offline and non-fiat based transactional industry, has been in operation for approximately 50 years. It operates with the help of localized, centralized and decentralized organizations called Trade exchanges. Such exchanges smoothen bank-like virtual transactions in a B2B and B2C market environment with the help of online software recording. For the reason of transacting goods and services, they use a localized non-fiat currency referred to as a “Barter Credit” as an accounting unit of payment used to record barter transactions value. Governments of most countries usually recognize barter credit as a form of payment for tax purposes. Its usually pinned against the local currency in which it is transacted.For instance:
A USD Barter Dollar(credit) is equal to that of the fiat USD Dollar in value.
A Thai Barter Baht(Credit) is equal in value to that of the fiat Thai Bhat.
International transactions between various barter credit currencies are treated at the same exchange rate as its fiat counterpart. Despite this large trading volume, there are rudimentary problems in both these offline and online market which BIZpaye wants to solve with its BIZpaye CRYPTO token and the already existing and flourishing BIZpaye ecosystem.
Currently, organizations are sitting on unsold catalogs in the form of goods or spare capacity. Disagreements in cross-border transactions with minimum to no flexibility in terms of payment mechanisms which are brought about by the lack of a universal currency are at an all-time high. Liquidating catalog in a transparent way especially in a B2C environment is expensive and a major problem such that inventory sits around idle for long periods of time. While this is often seen as a minor issue, it's very noteworthy due to the lack of a common measure of value across international borders.
BIZpaye Platform.
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BIZpaye, an already existing platform aims to deliver flexible and more suitable ways to transact across all borders and providing complete transparency and low fees to a worldwide audience within its very own ecosystem. The team wants to offer ways to liquidize idle and spare capacity for small and medium-sized enterprises and assist them in generating more revenue and provide a leaner business model.
BIZpaye CRYPTO token currency will become part of the BIZpaye International Group of Companies, an existing multi-transactional B2B and B2C online and offline retail marketplace whose already active customers and merchants trade millions of dollars every other year. The company has been running for 5 years and is currently operating in 12 countries some of which are: Australia, Cambodia, Canada, Dubai, Germany, Hong Kong, Norway, India, Philippines, Thailand, United Kingdom, USA.
BIZpaye CRYPTO and the BIZpaye CRYPTO TOKEN will join the already existing business units of BIZpaye including bizpaye corporate, bizpaye trade,bizpaye rewards,bizpaye licensee,bizpaye property and radio bizpaye. Bizpaye trade, the main merchant trading ecosystem has been running for many years now and is similar to the system of a credit card but instead uses a barter credit system..Barter credit is basically a localized non-fiat accounting unit of payment that is used to record the value of barter transactions.
CONCLUSION.
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Currently, the non-fiat barter industry is a non-centralized individual recording system, depending on numerous forms of recordings, relationships, and trust in order to transact. There is barely any centralized mechanism for this wildly growing community of transaction makers. The introduction of the Bizpaye crypto token will provide a peer-to-peer network for every individual around the world to interact and transact while making use of the power of 1st and 2nd generation blockchain. With the implementation of smart contracts and a platform supported by the community, trading and carrying out business globally has never been cheaper and easier.
USEFUL LINKS:
Website: https://www.bizpayecrypto.io/
Telegram: https://t.me/joinchat/Euq84EoblytkqcocQ9zuPQ
Twitter: https://twitter.com/BIZpaye
Facebook: https://www.facebook.com/BIZpayeCryptoToken/
Instagram: https://www.instagram.com/bizpayecrypto/
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★ Author: jamesndungu1
★ BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1856049
★ Ethereum Wallet: 0x8E8A5B6e2ABF1Bb64759bDd4DBe788F45B1D4f54
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