Barter Online Network

Abstract

Abstract Barter is the direct exchange of goods or services without using a medium of exchange, such as money. Barter faced a number of limitations, and according to Smith (1776), these limitations led to the emergence of money. However, trading with money also exposes traders to the problems of monetary economy such as inflation, deflation, currency de-valuation, and currency exchange fluctuation. According to Statista.com (2015), in 2016, global Business to Customer (B2C) e-commerce sales will reach 1.92 trillion US dollars. On the other hand, online barter solutions are rare on the market. The only attempts to tackle online barter are mobile applications, carried out by small businesses. The market gap is caused by the unsolved inefficiencies of barter. The aim of this thesis is to identify the problems of barter, propose an IT solution for the problems of barter, and finally, produce an artefact, which is the realisation of the proposed IT solution by utilising computer systems and computer algorithms.