Written by David Parsons, founder of TrustMe Property ExchangeWith the advent of blockchain technology and digital assets, trust in the execution of business transactions is approaching the level of confidence of one-to-one exchange with known parties. This level of trust in dealing with commercial transactions existed since the dawn of trading between peoples. We will examine the past benefits of direct exchange and how blockchain technology and digital assets are enabling the same level of trust we had in the past.Example of long-term personal creditSource: Wikipedia \u2014 barter for chickensIn the past, or even during current times, when obtaining goods or services in a society between known or unknown parties, goods were exchanged for other goods or services the two exchanging parties needed. This was a system of direct exchange (or trade of value) in which participants in a transaction directly exchanged goods or services for other goods or services without using a medium of exchange, such as gold, silver, or paper currency.Transactions were not always immediate reciprocal exchanges; some were delayed in time. In most developed countries, direct exchange usually existed parallel to monetary systems only to a very limited extent. Today\u2019s market actors use direct exchange as a replacement for money as the method of exchange in times of monetary crisis such as when currency becomes unstable, such as hyperinflation or a deflationary spiral, or simply unavailable for conducting commerce.No studies have shown any present or past society has used direct exchange without any other medium of exchange or measurement, and anthropologists have found no evidence money emerged from barter. They instead found that credit extended on a personal basis with an interpersonal balance maintained over the long term being the most usual means of exchange of goods and services. This means of exchange coupled with interpersonal balances\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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