Barter 1.0 was very simple in the early days, limited by in-person interactions and primitive methods such as "dumb barter"which was a method by which traders who cannot speak each other's language can trade without talking.
Barter 2.0 came with the internet, facilitating remote interactions, leading to a higher chance of success and stories such as one red paperclip.
Barter 3.0 seems to be in early stages of development and is made possible through distributed ledger technology, aka "blockchain" and its ability to electronically transfer value without an intermediary, using smart contracts. Here's an interesting project that's building the next generation of P2P barter with multilateral trading and collateralization.
It'll be interesting to see whether barter 3.0 can really be viable alternative medium of exchange.
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Blockchain will revive barter once again
Barter 1.0 was very simple in the early days, limited by in-person interactions and primitive methods such as "dumb barter"which was a method by which traders who cannot speak each other's language can trade without talking.
Barter 2.0 came with the internet, facilitating remote interactions, leading to a higher chance of success and stories such as one red paperclip.
Barter 3.0 seems to be in early stages of development and is made possible through distributed ledger technology, aka "blockchain" and its ability to electronically transfer value without an intermediary, using smart contracts. Here's an interesting project that's building the next generation of P2P barter with multilateral trading and collateralization.
It'll be interesting to see whether barter 3.0 can really be viable alternative medium of exchange.
Techdirt has not posted any stories submitted by dronesquad.
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