The advent of cryptocurrency has created a buzz about cashless revolution. There has been a paradigm shift in the way business and transactions are conducted across the globe. Businesses that rely on alternative mediums of payment such as services, additional goods or volunteer hours still exist in the ecosystem of bartering. With the fame that Bitcoin has received, people have felt a need for methods of transactions other than the monetary system. The only challenge faced by cryptocurrency is the need of fiat currency for an investment in crypto. Blockchain, the underlying technology of cryptocurrency has gained traction in solving complex payment issues including bartering.
Bartering in the modern world has taken a new form, where people can exchange goods for services and vice-versa; however, it has its own shortcomings. ShareMeAll has thoroughly analyzed the challenges and offered a solution of a cash-free bartering on their platform. Using the blockchain technology, values are assigned to goods and services through a consensus mechanism, thereby solving the problem of bartering with cash or credit using fiat currency. Sharemeall provides a platform known as sharemall.com marketplace, wherein users can exchange or share objects, services or even offer accommodation to anyone across the globe. It also offers its own currency eSwitch® to be used for trading.
ESwitch is based on Ethereum blockchain technology, secured by smart contracts. The idea behind eSwitch® is to put human values of trust and transparency at the center. The token will foster growth of sharing communities resulting in an optimum utilization of goods and services. For an ease in the use of the token, a mobile and internet exchange platform will be created. The sharemeall.com platform will also facilitate ICO investors to import their cryptocurrency wallet and export eSwitch® in the wallet. The token can be converted to cryptocurrency such as BTC and ETH or to fiat currency such as EUR and USD. Users will also have access to a face-to-face interaction for sharing and exchanges with other users in real-time to build trust.
The project attempts to expand the reach and adoption of cryptocurrency globally, for which it provides a decentralized platform. It not only opens up new prospects for trading goods and services in an open and secure space but also investment in digital currency. Striving to bring about a revolution of trust and promote the new age bartering, ShareMeAll, an alternative community project, is bridging the world together.
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