Bartering is a medium in which goods or services are directly exchanged for other goods and/or services without a medium of exchange such as money. Barter usually replaces money as the method of exchange in times of monetary crisis, when the currency is unstable and devalued by hyperinflation.

It is estimated that over 350,000 businesses in the United States are involved in barter exchange activities. There are approximately 400 commercial and corporate barter companies serving all parts of the world. There are many opportunities for entrepreneurs to start a barter exchange. Source: Wikipedia.com

Dibspace.com became that  commercial organization that provides a trading platform and bookkeeping system for its members or clients. The member companies buy and sell products and services to each other using an internal currency known as dibits.

If your are that person that thinks outside the box  than you need to check out dibspace.com where you will find that there are always ways to unite people in times of need. It is said that bartering was used a lot in the great depression since the finacial system collapsed. So many small businesses find themselves with a lot of time on their hands since the the customer commands are not as frequent. Now you might choose to share your trade with a client that in return will share his/her trade with you, so  that you may be able to finish that project that in this new economy you always found hard to pay for.

I have posted a quick reference on how dibspace is trying to make an impact in a economy that is not always stable as we thought it might be. Of course for more information or to create a profile you can visit dibspace.com.

Dibspace.com

How it works

SEATTLE-BASED DIBSPACE.COM is based on the premise that small businesses, particularly those that charge by the hour, have productive time that goes unfilled. This online marketplace allows business owners and individuals to create profiles and offer services in exchange for “dibits,” or currency units that can then be spent on other services offered on the site.

Dibits: These are valued at one per U.S. dollar. For instance, a dance instructor who would normally charge $40 for a series of classes can charge 40 dibits on the site.

Transactions: Participating businesses offer their services on the site, and other providers indicate their interest, paving the way for a transaction. For example, a carpet cleaner offering services on the site sees the dance instructor’s offer and decides he wants lessons. The two iron out dates, times and confirm the price. Afterward, the instructor sends an online invoice to the carpet cleaner, and the appropriate numbers of dibits are transferred from his account to hers. But the dance instructor doesn’t necessarily need carpet cleaning, so she can use those dibits on any other service offered on Dibspace.

Getting started: Businesses get 100 dibits for signing up. They can earn another 100 by posting offers (10 dibits for each of the first 10 offers they post). Recruiting other businesses earns even more dibits.

Tax issues: Bartered transactions are considered taxable by the Internal Revenue Service, so Dibspace.com says it will tally and calculate each user’s earned dibits and send each a 1099-B form at year’s end.

Source:Dibspace.com