How it works

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What is it?

What is it

An exciting network of people which enables them to exchange goods, skills and services without using cash. This is a modern and versatile version of the bartering system.

Instead of cash, ‘myswango’ has its own unit of exchange; this is called ‘swangos’ (S) and replaces all other currency e.g. the British pound sterling (£); American/­Canadian and Australian dollars ($); Mexican peso ($); the Euro; and all other currencies.

Members enter the goods and services they are offering or seeking into a profile AND in a Directory.  A direct match can be made or each member can contact each other direct if they want to engage in a transaction.

When someone provides you with goods or services, you pay them in swangos, and your swango account is debited; when you provide others with goods or services, they pay you, and your swango account is credited.

Because no interest is charged on debit balances, you needn't worry about going into 'debt' - you can 'spend' what you want, and earn credits to restore your balance at leisure.

How does it work?

How does it work

Suppose you have your leaking roof fixed at a cost of 50 swangos (S50); your account is debited by this sum.  Your builder will go off and spend his S50 with other members on garden plants, home-baked bread, secretarial help or whatever.  Meanwhile you can reduce or eliminate any negative balance by charging other members for your goods and services.  You might make S10 from babysitting, S25 from selling a bookcase you have made and S15 from hiring out your carpet cleaner.

Because the central accounting system keeps track of your credits and debits, you don’t need to do a straight swap (i.e. match).  You can 'buy' from one member now and 'sell' to someone different later on; this is one reason why exchange trading is so much more effective than the traditional barter system.

To help you regulate your trading you can make (S) swango payments online; pay to remove a negative swango amount and view statements of your transactions and your current balance at any time.

Benefits

Benefits
  • The system permits a genuine form of interest-free credit. It helps you make ends meet and improves the quality of your life by giving you access to goods and services as and when you need them. You can pay for them at your own pace.
  • It encourages people to maintain and develop skills and resources which might otherwise go to waste.  Whoever you are, YOU WILL FIND THAT YOU HAVE SOMETHING TO OFFER!
  • You can use the system as much or as little as you wish, and charge in a combination of swangos (S) and pounds sterling (£).  If you would like to start your own business you can test out demand for your services cheaply and easily.  If you are unemployed you can make use of your neglected talents or discover new ones.
  • You will develop a wider network of social contacts in your local community. Through trading you will forge links with people you might otherwise never have met.
  • Regular social events can be arranged at different venues,
    where people meet and trade.