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Going moneyless: “NETural” exchange

The global financial system has conclusively turned into an unpredictable casino making hostages of us all. No longer does human well-being depend on ability and hard work, but on “exchange rates,” “inflation levels,” and “banking crises.” Each new crisis is more global in nature. This is forcing people to seek out alternative ways to make payments. 

But is money really necessary? It was invented as a universal means of exchange because bartering was inconvenient. Good luck finding someone who wants to swap their bicycle for a bag of tomatoes! However, it’s much easier to make barter transactions on the internet. Each market participant presents their goods virtually, like in online stores. Likewise, in digital form, you can describe exactly what you want in return. An AI system, similar to a modern product search engine, then matches pairs for “NETural” exchange. And not only pairs, but longer chains as well. This way, you can trade your tomatoes for Spanish lessons, your Spanish lessons for car repairs, and your car repairs for the bicycle you need. 

To check the equivalence of the swap, smart assistants can also take into account the monetary value of the goods. For human users, this information is optional, as long as the exchange delivers the right result (the desired products and services). For us, as people, a more essential security measure of “NETural” exchange is a reputational mechanism. As such, person-to-person exchange works best within online communities that track the reputation of users. Meanwhile, outside collective transactions take place as an exchange between communities and companies — through smart barter markets that calculate exchange chains for entire organizations, also factoring in their reputation. 

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