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CrowdBucks Commerce Platform
Background and Examples

Powerful new digital currency systems are poised to allow transactions to be performed without banks or other middlemen and promise to revolutionize commerce in many profound ways.

Virtually any value exchange scenario that currently takes place in the traditional world of money and finance, can be re-engineered to operate in a more optimal fashion by using a better kind of currency. Banks no longer have a monopoly on creating money. CrowdBucks now makes it easy for virtually anyone to create their own value-backed currency systems that can help to transform business and empower communities.

There are two main types of CrowdBucks Currencies:

1: Private Vouchers (CVs) are issued as a digital "Scrip" and/or blockchain-based crypto-currency, and are similar in many ways to regular bank checks, gift certificates, or store-issued coupons, etc.  Each ​​CrowdBucks Voucher is based on a simple digital contract that can contain whatever details are needed – virtually anything – public or private. We simply help our members to manage transactions based on the specific Vouchers issued. Private Vouchers can have any set value (including zero), and can only be redeemed from the entity that originally issued the Voucher.

 

2: Group / Public / Shared / Collaborative Currencies (CBs and/or CCs) 
Collaborative currencies based on principles of traditional mutual credit can be created for specific marketplaces and/or groups to allow flexible trading among participants in a trusted, member-oriented marketplace. Collaborative currencies act as a shared ledger among group members, and can be created in a variety of ways including simply issuing credit among trusted marketplace members. This  mutual credit model builds on the common “30-day terms” deferred payment concept, where the trading community issues trusted members a flexible, group-based Line-of-Credit, thereby allowing credit-worthy members to buy goods and services in their marketplace before they sell their wares.

Each CrowdBucks CB$ (CBucks Trade dollar) is pegged to represent the same relative value as one standard U.S. dollar. We anticipate other types of CrowdBucks currencies to be created for virtually any type of trading scenario, and these new currencies could be based on hours of work for local community time banks, or perhaps pegged relative to an international basket of commodities to help protect against inflation and speculative trading, etc.

CrowdBucks Collaborative Commerce ~ Examples

Private Currencies

A simple example of how the CrowdBucks commerce platform works is in the area of crowdfunding: For example, a company or entrepreneur could list their proposed project on the CrowdBucks crowdfunding marketplace where interested parties can contribute funds and other resources to the project.  However, instead of receiving a t-shirt or coffee cup for the user's contribution, (or perhaps receiving shares and/or other formalized securities in an already established corporation in the case of equity crowdfunding), the project's backers receive a private digital currency issued by the project in exchange for their contribution. This private currency acts as a Digital Receipt and/or Voucher that can be redeemed with the currency's issuer once the project has reached its proposed goals.

Secondary markets for digital vouchers can allow these private currencies to be exchanged for other types of vouchers, digital currencies, goods and services, etc.

A second example that follows a similar model is a group oriented pre-purchase of some sort of commodity. For example, a farmer requires a certain level of funding and/or other resources to plant and harvest the coming years crops. In this scenario, projects backers each purchase a portion of the crop in advance of actual production and receive a private currency issued by the farmer in exchange. Once the crop is mature the backers get their specified share of the crop and/or a pre-determined return on investment by cashing in their private digital vouchers.

A third example involves a company creating a private currency to issue as rewards to their employees and/or customers and other types of business partners. Producers may also sell their private currencies to prospective customers as a way to fund production. This private currency can then be used as a voucher for the company’s current and/or future production. Once again, secondary markets can provide buyers with a method of exchanging the privately-issued currency for other types of items as needed.

For example, we have created a new blockchain-based digital currency (CBCoin) that represents $0.01 each (and/or current market value, whichever is greater) and will be accepted in exchange for member services provided by the CrowdBucks Trade Network.  

CrowdBucks - Example Use Cases

Scenario #1: CrowdFunding ~ (Private CrowdBucks Vouchers / CVs) 

~ Helping entrepreneurs to pre-sell a product or service.

Entrepreneur  “A” wants to raise $100K to create a new social-business service. The entrepreneur registers on the CrowdBucks website and creates a new project with details of their offer. A visiting CrowdFunder likes the offer and contribute one thousand dollars toward the project -- and in return receives a CrowdBucks Voucher (CV) equal to one thousand dollars.  

The private digital vouchers are intended to be redeemed directly by the project for the specific items offered -- just as soon as the project’s goals have been realized. The CrowdFunder can optionally choose to sell or trade their private CB Vouchers at any time using an open trading marketplace / collaborative-currency exchange system, etc.


Note: The digital voucher’s “redeemable” amount could also be issued for either more or less than was contributed.  i.e. A new business may decide to offer the voucher at a discounted value, thereby providing a pre-set return on investment for the initial contribution, or a charity may provide a zero value voucher as simple digital proof of a donation,

 

Potential CrowdFunders can also invest “in kind” rather than in cash. For example if a Funder wishes to invest their time and/or contribute goods to a project, they can do so by simply issuing a voucher that pledges specific value to the project. If the project does not currently need the goods or services being offered by the Funder, the voucher can be moved to a public trading marketplace where it can be sold or traded for other vouchers, goods and services, etc. The resulting payment for the contributed items is made directly to the Project who then in turn issues the appropriate CrowdBucks to the Funder.

Scenario #2:  CrowdSourcing ~ (Private CrowdBucks Vouchers / CVs)

An entrepreneur has an idea to create a new social-business service and is looking to find co-founders and potentially other individuals who are interested in assisting with the project.

The entrepreneur registers on the CrowdBucks website and creates a new project with details of their idea. Several others visitors to the site like the idea and agree to assist with the project.  In order to keep track of the relative input by various entities to the project, a new set of private tokens (CVs) are created that can be transferred to each contributor in the form of a pre-defined bounty for specific work performed. As the project progresses these tokens help keep track of contributions by the various partners, and are used to represent relative ownership in the project, voting rights, etc.

Scenario #3:  CrowdFunding ~ (Private / Branded CrowdBucks Vouchers)

A car manufacturer is planning a new limited-edition car and decides to presell this new model in order to gauge specific interest, and to simply access a new source of interest-free funding that will be directed at creating this new vehicle.

Details of this proposed new model are posted online in the CrowdBucks Marketplace complete with prototype images, specifications and available options. Prospective buyers for this new vehicle can then contribute funds toward the purchase of this vehicle, either in scheduled payments or as a single contribution, and thereby fund the production of this new model car directly without using banks as an intermediate lender. A relative quantity of branded CrowdBucks tokens (CVs) are issued to each contributor based on whatever details are specified for the deal. These branded tokens will then be redeemed back with the manufacturer once the delivery of the new vehicle is ready. If the purchaser changes their mind at any time about taking delivery of the vehicle, they can simply trade or sell their branded tokens in a secondary market.

Savings and other benefits involved by the disintermediation of the banks are shared between buyer and seller, with the buyer typically getting a discount for pre-purchasing the vehicle, and the seller getting access to zero interest funds, as well as a much better understanding the relative demand for the vehicle in advance of the actual production.

Commerce Network / Trade Exchange

CrowdBucks leverages new digital currency systems to deliver a flexible ecommerce platform where members trade with anyone else in the network who needs their goods and services; and in return they receive equal value in a safe and convenient digital currency that can in-turn be spent with any other member in the network.

The CrowdBucks Trade Exchange platform is a great new way for 21st century business people to get what they need, when they need it, simply by trading their spare capacity and/or inventory. Trading in the CrowdBucks Network represents a solution for companies with available inventory and/or services, to effectively expand their customer base and grow their profits.  

Instead of buying and selling using cash, bank transfers or credit cards, CrowdBucks members deal in interest-free digital currency (CBucks - trade credits), where your new customers simply pay you in easy to use digital dollars -- that you can then spend with anyone else in the network.

By accepting payment in CrowdBucks trade currency instead of regular cash, a business can help maximize their income and enhance efficiency by increasing inventory turnover and/or billable hours. Using the trade dollars they earn, a company can purchase the goods or services they want – without spending cash, thereby reducing cash expenditures and maximizing the company's profits.

          How the CrowdBucks Commerce Network / Trade Exchange Works


Connect -> Trade -> Save


Trade Exchange Diagram


Trading Examples:

Scenario #1: ~  (Shared CrowdBucks / Trade Dollars / CBucks)

 ~ Helping Vendors reduce costs and increase profits.

  • The owner of a sign company needs to have brochures printed.  Instead of paying with cash, he goes to a printer within the CrowdBucks trade network and pays the bill with CBucks trade dollars. Subsequently, the printer can spend their CBucks with any other business in the exchange. He does not have to spend them with the sign company, and instead is able to purchase whatever he needs from any other member in the network. Not only does this help to lower expenses and increase the bottom line of the participating businesses, this scenario also helps to keep the business local and circulate wealth within a particular community.

Scenario #2: ~ (Shared CrowdBucks / Trade Dollars / CBucks)

~ Reward Employees by Paying a Bonus in Complementary Currency

  • A Trade Network member is able to transfer CBucks and/or other types of  digital currencies to their employees as a bonus, who can in turn spend the currency at other participating members, including restaurants, hotels, cleaning services, hair salons, spas and gyms, home renovations, etc.

 

Many other scenarios for using CrowdBucks exist; from facilitating Group Purchases and helping Charities raise money, to Time/Hour Exchanges, Tool Sharing and International Trade and Commerce.

https://en.wikipedia.org/wiki/Local_currency

Background

(Collaborative Currencies / Trade Dollars / CBucks / CBs)

Commerce and Trade have been around for thousands of years, however traditional ways of doing business have recently changed a great deal mainly due to computers and the Internet.  

Many companies have at one time or another traded their goods and services in exchange for a product or service from another company.  The CrowdBucks Commerce Platform simply expands on the traditional barter/trade scenario to include the ability to trade your company's goods and services with any network member -- even if you do not need what that member offers.  

Community Currencies / Hours

Many variations on the B2B trade concept may be utilized in communities, including Time Trading. Time Trading is an organized exchange system through which members earn hours (time credits) for time spent helping other members.

One hour of service earns an hour of someone else’s time.

What’s the difference between Time Trading and Bartering?

  • Time Trading is typically not taxable because:
  • It is not tied to a cash value.
  • It is based on the currency of time, not money.
  • It is not generally an exchange, like barter, between two people but rather among a network of people.
  • It is not a contractual agreement, but recognized as a friendly favour.

International Trade

Corporations and/or government organisations involved in multilateral international trade can easily create common virtual currencies that effectively keep track of the values related to imports and exports, rather than using international banks that often charge exorbitant fees for cross-border commerce transactions etc.