BarterUnit LLC, a Wyoming startup, has announced it has launched its own dedicated community currency- called the barter unit. The new economic experiment is expected to combat poverty through the stimulation of local and regional commerce and peer-to-peer collaboration. More specifically, the Barter Unit is designed to help marginalized communities counter the inequalities, class, debt, accumulation and exclusions that government-sponsored currencies have produced and sustained.
Let’s face it, we live in a broken and disproportionate economy. We are told repeatedly that the economy is growing and that such growth benefits all of us, yet most people are experiencing declining economic security and freedom. When the official currency is scarce in impoverished areas, people may not have access to basic necessities. However, when those areas have a viable community currency, like the one created and encouraged by BarterUnit LLC, people then have an alternative source of capital to purchase and trade vital goods and services, all while simultaneously stimulating their local economy and establishing community spirit.
We interviewed Phillip H. Perez, the Founder and CEO of BarteUnit LLC to learn more about the BarterUnit establishment. Below is an excerpt.
Phillip, can you tell us what the BarterUnit establishment is all about? What is BarterUnit exactly?
“Yes of course, in short, it’s an all-in-one community currency system and a barter-exchange platform. The BarterUnit establishment is designed to be an alternative currency system with an embedded barter-exchange marketplace, the marketplace of course being its secondary feature. You see, you can’t have a community currency system without a marketplace to utilize or redeem the acquired community currency, so the creation and implementation of a marketplace was necessary. The two concepts, both the community currency and the barter-exchange marketplace go hand-in-hand.
What exactly is the Barer Unit?
“In simple terms, the barter unit is similar to cash – only not cash. Barter units are designed to be an alternative form of digital currency and can be used to trade or purchase goods, services and unwanted items exclusively within the BarterUnit community. Initially, barter units were specifically designed to help cover any possible value difference that may arise within a bartering process. However, we realized the barter unit has the potential to be a standalone currency. If you think in terms of grander visions, the more people who adopt and respect the barter unit as an alternative form of currency, the more economically valuable the barter unit becomes. So, in that respect, it has potential to be a worldwide viable currency.”
What is the value of each Barter Unit?
“Each barter unit is valued at $1 dollar. For example, if you obtain 20 barter units, then you would have a $20 value in barter units to trade or make purchases with other BarterUnit members. We currently have over 1 million barter units in circulation and the number is growing expeditiously. If you equate that in terms of dollar value, that’s a circulation valued at $1 million U.S. dollars.”
How do members obtain these Barter Units?
“Easily. You can obtain barter units by trading your goods, services and unwanted items in exchange for barter units or you can easily purchase barter units. Additionally, you can win barter units during our weekly barter unit giveaway via our mobile application.”
How does the system work exactly?
“The concept is pretty straight forward. The system enables users to post their goods, services and unwanted items and trade something for something, usually of equal value, and if your trade is not of equal value you may include barter units in your offer to cover the value difference.”
Why create BarterUnit? What precursors lead you to create BarterUnit?
“Well, for me it’s personal. The creation of the BarterUnit establishment is both politically and economically
What is the BarterUnit mission?
“Well, my daughter Vanessa came up with a very accurate mission statement that I happen to agree with 100%. She states, and I quote; we have an extreme passion for the welfare of people. Our goal is to make people’s lives better every single day. Giving people alternative purchasing power WILL make a positive impact in their lives.”
Can you name one person that has inspired you?
“Yes, I can. That would unequivocally be Ayn Rand.”
Phillip, what advice would you give to an entrepreneur trying to create a startup?
“Never give up! Surround yourself with positive influential people who share the same values, beliefs and visions. Learn from your mistakes and assert yourself profoundly and effectively as possible, at all times, despite all obstacles and challenges you may encounter.”
In 2020, Phillip H. Perez also intends to implement a social media platform enabling users to post notable and worthy postings for overall better social connectivity. Perez is excited to see the first phase complete and is extremely adamant to see this project utilized worldwide.