How it Works 

Globalxchange (GX) is a Hungarian-based e-comers trade exchange, and a sophisticated business trading platform, which enables trading of goods and services between members of the business network nationally or globally, using the complementary community currency, GX€, instead of cash, checks, or credit cards.

GX operates as an eco-system model, where small or medium size business complement, rely on each other to grow and prosper. A model dictated by today’s economic realities.

GX is a B2B company with focus on SME to help them reach their highest potential, where they can trade products and services with other businesses within the network, and conserve cash.

GX has an established network of other trade exchanges globally, to help our members to buy and sell their products and services in foreign markets.

GX provides you with an alternate distribution network, where you can change retail value for goods and services in GX€, instead of selling them for reduced rates in cash or having them go unsold, hence minimize the cash outlay for everyday business expenses, and use GX€, instead of cash.

Our exchange acts like as a third-party record keeper, or clearing house, providing members with monthly statements that reflect all trade purchases and sales, and shows the current GX€ balance.

Facts:

• The World Trade Organization estimates that 15% or $8.43 billion of the $5.62 trillion in international trade is conducted on a non-cash basis.

• The reciprocal trade industry is €1.8 billion per year business in Europe alone. The wall Street Journal reports that thousands of companies in the U.S. , Canada and Europe participate in reciprocal trade, including 70% of the Fortune 500.

• 57.4% of the world countries include reciprocal trade in their national economic statistics, and it is the recommended model by the United Nations.

• The Wirtschaftring (WIR), which is established in Switzerland in 1934. has handled over an equivalent of two billion Swiss Francs in trading in the trade currency, (also called the WIR) for its 60.000 members.

• In the U.S. alternative currency has been taxable since 1982, when trade exchanges were recognized and codified by the US Internal Revenue Service.

• About 500.000 U.S. businesses were involved in about 200 barter exchange networks in 2005 and traded $8.25 billion worth of goods and services, according to the International Reciprocal Trade Association (IRTA)

• The economic crisis in Argentina was compensated by ˝Trueque Clubs˝ (Exchange Club), which fundamentally replaced the national money system, and the reciprocal trade became the principle survival method for small business.

References:

http://www.guardian.co.uk/technology/2003/feb/27/businesssolutionssupplement8

http://projects.exeter.ac.uk/RDavies/arian/barter.html

http://www.barternews.com/

www.irta.com

www.wirbanking.com