RedRover- Startup Talent Exchange

Interview with CEO Marsh Sutherland.

Before currency was invented, society used a bartering system to secure necessities. In some cases, the need was tangible (food, shelter) and in others, it was physical (labor, skill). For centuries goods and services were exchanged between those who had them and those who needed them. It was only toward the end of the 18th century that symbols of value, called currency, began to replace this type of trade. The first U.S coin was minted by the government in 1793. Before long, carrying around hundreds of coins was wildly inefficient and thus gold-backed paper currency was introduced in the mid-1800s.

Because the government controlled the production of currency, there was a level of consumer distrust in the system from the start. For example, when a nation was in a tough spot, the government could simply print more bills and “stimulate” the economy. This increase in circulated currency is likely to lead to inflation which would result in a price increase for consumers.

Clearly, this cycle is broken- and fixing it is no small feat. But what if we got back to basics? Before bills, coins, and even before gold. What if we got back to bartering? One startup has not only asked that question- but answered it.