Bartering The Modern Way, The MYTC Way

Bartering is the one thing that has continued to thrive since ancient history and it will continue to do so. The concept of the barter system actually dates back to 6000 BC. This system was introduced by the tribe of Mesopotamia. Back then, there was no concept of money which prompted people to exchange goods and other condiments. This way, a thriving market was born, a market which has then grown and spread to the other parts of the world.

In today’s world, bartering can be seen everywhere. You can find kids swapping their toys; you can find people do a day’s work for food; you can find people bartering information. You can also see the barter system put to good use in the blockchain Industry. Yes – That’s right, in the Blockchain Industry.

MYTC has come up with an innovative way to incorporate the barter system into a digital currency (MYTC Tokens) on the decentralised network (Ethereum). Before we get into more details, let’s look at the benefits of having a barter system where the participant can use cryptocurrency to make your sale/purchase or trade.

• The participants can make the deal for barter according to how they want, without the intrusion of a middle man.

• The participant can utilise this platform to move excess items or stock up their inventory based on the current market trends

• The participants can trade items with each other which eliminates the involvement of currency.

Thanks to MYTC, there now is a secure, fully accountable and flexible way for participants/businesses to trade or barter with other participants/businesses from all around the globe. MYTC offers the opportunity to promote your business amongst other local, national or international businesses. This platform also opens up a new dimension for the participant’s business as they can now accept cryptocurrency as payment for the services offered. This enables them to attract a whole new bunch of potential customers who have made the switch to cryptocurrency. The additional income generated by this barter can then be reinvested in their business, allowing them to expand their horizons which would in turn, rake in more money. So, it is a win-win situation.

With the incorporation of bartering, one can get a product at its actual value and not at the one that has been set by the market trend. Plus, it allows the two participants to make any deal they want. A deal, which will be between themselves. No one else will be privy to that information. The barter system also promotes the cause of division of labour. Thanks to this, one no longer has to handle every aspect of the business alone. They can get whatever they want easily. This negates the necessity to master everything and they are free to focus on their chosen area of expertise. The barter system is also preferable as it is devoid of hassles such as foreign exchange crisis, adverse balance of payments, absurdly high fees, hidden charges, etc.

One drawback of the barter system is that for the system to work, both the participants should be satisfied with the barter. Throughout history, it has been noted that one might expect a little different than the other. But, since MYTC uses a common form of digital currency, it solves this problem. The participant does not need to find someone whose needs coincides with his/her own. They can just use the currency to trade with any individual they desire.

Another glitch in the barter system is that barter can normally take place between participants known to each other, participants who are probably, neighbors, friends or family. MYTC takes care of this geographical setback by allowing participants to barter via their digital currency (MYTC Tokens) on a globally decentralized Ethereum platform. This way, participants can project their businesses to a global audience and be a part of a cashless society.

They say history repeats itself. Back in 6000 BC, barter system was the main form of trade. If things continue the way they are going, then barter system using Blockchain technology will take up centre stage and MYTC will be at the top of this stage.

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