{"id":899,"date":"2012-03-21T11:29:00","date_gmt":"2012-03-21T11:29:00","guid":{"rendered":"https:\/\/www.novonon.com\/blog\/2012\/03\/21\/in-economically-devastated-greece-internet-enabled-barter-economy-rises\/"},"modified":"2012-03-21T11:29:00","modified_gmt":"2012-03-21T11:29:00","slug":"in-economically-devastated-greece-internet-enabled-barter-economy-rises","status":"publish","type":"post","link":"https:\/\/www.novonon.com\/blog\/2012\/03\/21\/in-economically-devastated-greece-internet-enabled-barter-economy-rises\/","title":{"rendered":"In economically devastated Greece, internet-enabled barter economy rises"},"content":{"rendered":"

In economically devastated Greece, internet-enabled barter economy rises<\/a>:
\"\"<\/p>\n

An interesting piece in the Guardian<\/em><\/a> this week about cashless commerce in Greece, where the currency crisis has prompted citizens to take unusual measures to obtain essential goods. One exchange website in particular is cited<\/a>, and a unit of barter known as “tems.” The network has been online for about a year and a half. Snip from a portion of Jon Henley’s report<\/a> about the open-air markets where tems are exchanged for daily neccessities:<\/p>\n

\u201cThey\u2019re quite joyous occasions,\u201d she said. \u201cIt\u2019s very liberating, not using money.\u201d At one market, she said, she approached a woman who had come along with three large trays of homemade cakes and was selling them for a unit a cake. \u201cI asked her: \u2018Do you think that\u2019s enough? After all, you had the cost of the ingredients, the electricity to cook \u2026\u2019
\u201cShe replied: \u2018Wait until the market is over\u2019, and at the end she had three different kinds of fruit, two one-litre bottles of olive oil, soaps, beans, a dozen eggs and a whole lot of yoghurt. \u2018If I had bought all this at the supermarket,\u2019 she said, \u2018it would have cost me a great deal more than what it cost to make these cakes.\u2019\u201d
What rules the system has are designed to ensure the tems continue \u201cto circulate, and work hard as a currency\u201d, said Christos Pappionannou, a mechanical engineer who runs the network\u2019s website using open-source software. No one may hold more than 1,200 tems in the account \u201cso people don\u2019t start hoarding; once you reach the top limit you have to start using them.\u201d And no one may owe more than 300, so people \u201ccan\u2019t get into debt, and have to start offering something.<\/p>\n<\/blockquote>\n

Read the rest here<\/a>. (via Clayton Cubitt<\/a>, photo: Lambros Kazan\/Shutterstock<\/a>)<\/em><\/p>\n

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\"\"\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

In economically devastated Greece, internet-enabled barter economy rises: An interesting piece in the Guardian this week about cashless commerce in Greece, where the currency crisis has prompted citizens to take unusual measures to obtain essential goods. One exchange website in particular is cited, and a unit of barter known as “tems.” The network has been […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[1],"tags":[],"class_list":["post-899","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p3pfIY-ev","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts\/899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/comments?post=899"}],"version-history":[{"count":0,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/posts\/899\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/media?parent=899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/categories?post=899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.novonon.com\/blog\/wp-json\/wp\/v2\/tags?post=899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}