Circular Multilateral Barter

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quot;Circular Multilateral Barterquot; (CMB) is aimed at supplying entrepreneurs with a way to exchange goods and services within a p2p-network, without using money, overcoming the quot;double coincidence of wantsquot; problem, inherent to traditional barter. Most importantly, CMB allows traders to issue their own currencies (called quot;productsquot;), which others can redeem, trade, or make payments with. One thing that distinguishes CMB from other quot;credit commonsquot; is that all debts in CMB are user-to-user debts. There is no central administrative authority to decide who deserves to be trusted and who does not. Because of this, CMB can scale-up very well, so that local communities can be seamlessly aggregated into larger ones. Another way of seeing CMB is as a partnership of independent Local Exchange Trading Systems, having a common marketplace for exchanging one LETS-currency for another (via circular trade).

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