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Methods are described for completing a transaction by use of a national currency and a mutual currency. Items offered on the system may be classified as for barter or reward. Field of the Invention  This invention relates to the field of barter systems. In particular, the invention relates to electronically enabled barter systems allowing for the creation of an alternative economy through the web.
Description of the Related Art  1. Barter and Mutual Currencies  Bartering is considered one of the earliest forms of exchange, which according to some economists was superceded due to the higher efficiency of cash.
However, other economists believe that view is overstated. Further, barter systems can continue to play a valuable role in coexistence with regular currencies.
These exchanges typically overcome one problem associated with traditional barter, the need for buyers and sellers to be directly paired. For example, if John wants to buy food and has clothing to sell, in a traditional barter system, he might need to make several intermediate trades to get the baskets that the food seller wants in return for food.
In contrast, in hybrid barter systems, a mutual currency is selected such as a trading unit, a trading dollar, a trading credit, etc. Instead, participants mutually create the currency through the transaction process. The availability of participants in the trading exchange to accept the trading credit for their goods creates the value.
This may be convenient for pricing and conversion purposes. However, it may cause some instability if the reference currency experiences crises.
Barter Exchanges  These mutual currencies are typically combined in off-line trading exchanges. The inventory is re-marketed in eastern Europe, outside its normal distribution channel.
The Trade Credits are then used to reduce the cash required to purchase pre-planned media or other business services at benchmark prices where active holds capacity positions or through the vendor linking program.
This requires the barter exchange to also act as sales people and identify outlets for the goods and services. Further, the barter companies maintain an inventory of services to be used by clients, e.
These goods and services are characterized by their ability to be bought at a discount because of high fixed costs and low marginal costs, etc. Thus, the barter exchange is required to maintain two types of inventory: The difference between the liquidation value of the excess inventory and the cash cost of the purchased service, e.
However, barter deals are typically carried on balance sheets as pre-paid purchases. Jane can in turn spend her trade credits with other BarterCard members. Specifically, BarterCard is not required to maintain inventory; however, BarterCard type systems may not be able to support the type of merchandise liquidation that traditional barter houses provide.
If the item is for barter, the online system may be used to transfer a first predetermined amount of the national currency from the buyer to the seller of the item and a second predetermined amount of the mutual currency from the buyer to the seller of the item. If the item is for reward, the online system may be used to transfer a third predetermined amount of national currency from the buyer to the seller of the item and a fourth predetermined amount of mutual currency from the seller of the item to the buyer.
In some embodiments if an item has been classified for reward, a historical data, an available mutual currency balance of the seller, and a line of credit in the mutual currency of the seller are used to select the fourth predetermined amount R so as to globally minimize the available mutual currency balance of the seller and the line of credit in the mutual currency of the seller over a predetermined period.
These and other embodiments are described in greater detail infra. System Overview  FIG. Such a computer can be used to store details about the inventory as described below and provide the improved barter system supporting rewards. The computer includes a processora memoryand an interface The processorthe memory and the interface are coupled in communication.
The following describes the uses of the elements of FIG. Although only a single computer is shown, the computer may be comprised of a cluster of computers operating in conjunction with one another.
The processor is capable of running the indexing and searching procedures described below. In some instances, the memory may be physically external to the computerwhile still coupled in communication with the computer, e.WellnessWins is a rewards program.
Courtesy of Wellness Wins. As a long-term WW member, I was curious about the company's latest re-branding and program changes. System rewards can be defined as being the basic wage rates.
Individual rewards are given to employees based on the quality and quantity of their performance. Performance related pay (PRP) is seen as an individual reward policy, where pay is rewarded in relation to the volume of output.
The reward system offered by the companies to the employees is considered to be the best way of motivating and gaining employee loyalty. It also helps the company its goals and objectives as employees are the engine driving force for a company.
Benefits. Another type of extrinsic reward is the benefits package you offer each employee. While salary, overtime, commissions, merit pay, profit-sharing and bonuses all fall under the category of compensation, benefits are often less direct.
These Terms and Conditions govern the Rewards Program and the Company’s relationship with its customers who are members of the Rewards Program (“Members,” individually, a “Member” or “You”).
the Member provides to the Company when completing this application and redeeming Points is processed in the Company’s computer systems. Benefits are another type of reward in a strategic reward system, and your employees are definitely going to notice the types of benefits you provide.