The Tokenization of the Barter Trade on the Blockchain for the Country of Lebanon

Abstract

The aim of this research is to consider a new trading style in the turmoil of the current economic situation, where currencies collapse, and inflation hits communities worldwide. The study will research the history, efficiency, and limitations of barter. A digital barter would create a community of traders, offer support in the form of currency inflation, or result in boycotted trade. By exploring the new technologies, the study will offer a way to overcome the limitations of barter and introduce a new conceptual digital barter for business use. The master’s thesis aims to propose the digitalisation of barter and a new theory of a digitally connected barter network in Lebanon for possible corporate trading. The study will draw on a re-invented style of economy and explore technical possibilities. Thereby, for example, a certain community would no longer use the existing financial system to trade and instead exchange digital points in the form of tokens (for example) as a trading circulation. Transactions, whether for services or goods, could have a trade network. The study will take into consideration the history of barter as well as the new technologies that are available that could re-invent the barter system. The combination of the barter system with the new technology would result in a new digital barter hypothesis, that might be helpful for businesses’ trade needs. Such exchanges would protect societies from inflation and currency limitations. The study is an eye-opener for possible new ways of doing business and might be used as a foundation for further developments and applications.