The barter system is only for Terra Perma members and partners. Therefore the Terra Coins have a value only within the community.
The barter system allows to formalize many exchanges that already exist on Terra Perma. It makes it possible to optimize available resources and to exchange goods and working time. Without going through real money, barter values each exchange fairly for both parties. Bartering allows people to access resources without going through the market or spending money. The system strengthens the resilience and autonomy of the group and has several ecological interests.
* Thanks to the creation of a local currency, and a “time bank”, Terra Perma’s local exchange system, makes it possible to exchange different goods and services with different values, at different times, between different people. Terra Coins are not money, they are only value units. * The value of each good and service is assessed by agreement of all members. During an exchange of, there is on one side the donor, the one who gives of his time or a resource or the loan of a tool, example an hour of work, then on the other side the recipient, the one who benefits from an hour of work or a resource. The donor sees his virtual account credited with the value of this donation in Terra Coins. The receiver sees his account debited for the value of what he receives. * Once the first exchanges, the balance of each account fluctuates according to the past exchanges. The goal is not to have a lot of credit or debt but to give as much as you receive. Everyone has something to give. It may be decided by the group that once a certain debt limit, the person must return to a balance. * Terra coins are not exchangeable into dollars, conversion into dollars is only used to assess the value of a property. There is no hierarchy of competence, an hour of DIY at the same value as an hour of computer help or cleaning. *The attached file ensures the transparency of the exchanges and the history. All exchanges must be written in the “ledger” and validated by both stakeholders.