Speaking to Virginia Robertson the other day on things I learned from her book – a gift – which is a marvelous expose, illuminating the historical journey of value through the ages. It was in those pages that I stumbled upon the forgotten chapters of the barter economy, a system that once thrived on the principle of fair exchange. The merits of such a system echoed through time, reminding me of the inherent value in direct trade and mutual benefit.

As I delved deeper into the annals of history, my conviction grew stronger. The Great Depression of 1929–1939, an era marred by economic turmoil, stood as a stark testament to the fragility of our existing monetary systems. Value was lost, and communities were left grappling with the aftermath.

The echoes of the past resounded in the Great Recession of 2007–2009, a chilling reminder that the cycles of value destruction were not confined to history. Our traditional money system, though resilient, bore the weight of its flaws.

And so, I found myself at a crossroads, standing at the precipice of an idea that had been germinating within me. It was time to make the switch, to forge a new path towards preserving value and ensuring fairness in exchange. The concept of an Information Currency began to take shape—a system rooted in transparency, real-time data, and a universal standard of value.

Still not sure why this should even be worthy of discourse – this piece will address that succinctly.

What is Traditional Inventory Management:

Traditional inventory management relies on established systems and processes for tracking, ordering, and managing stock levels. It typically involves manual record-keeping, periodic physical audits, and predetermined reorder points to replenish inventory. Businesses often rely on periodic assessments to gauge their stock levels. This process typically involves manual audits and batch processing, where inventory data is collected at specific intervals. While this approach has been a staple in supply chain management, it comes with inherent limitations, particularly in providing up-to-the-minute visibility into inventory status.

Manual audits, though thorough, are labor-intensive and time-consuming. They require dedicated resources to count and record inventory physically. This process, by its very nature, introduces a temporal gap between when the data is collected and when it becomes available for decision-making. In today’s fast-paced business environment, this delay can result in missed opportunities or inadequate responses to rapidly changing market conditions.

Moreover, batch processing, which involves consolidating and processing data in groups, means that updates to inventory levels occur at specific intervals, rather than in real-time. This further exacerbates the challenge of obtaining immediate, accurate information about the current state of inventory. In a globalized market where dynamics can shift instantly, this information delay can be a significant impediment to agile decision-making. While effective in its own right, this approach can be labor-intensive, time-consuming, and may not provide real-time insights.

Unveiling Information Currency’s Core Function:

At the heart of Itembanc’s innovative approach lies the proposition to revolutionize how we interpret value on a global scale. This is achieved through the ingenious utilization of a core set of “basic human needs” (BHN), encompassing vital categories such as food, shelter, basic clothing, paper products, and essential hygiene/medical items. These items are not only indispensable for survival but are also characterized by their longevity, ensuring their enduring value in markets worldwide.

The value baseline of BHN (a term propounded by itembanc) serves as a foundation for establishing relative value, free from the influence of manipulated state currencies. It signifies a shift in how markets communicate value, setting a precedent for future interactions.

Key Comparative Points:

  1. Real-Time Visibility and Global Interpretation of Value:

Traditional Inventory Management often hinges on periodic assessments of inventory levels, accomplished through manual audits and batch processing. This process may introduce a lag between actual inventory status and recorded data, potentially impeding timely decision-making.

In striking contrast, Information Currency delivers a real-time, granular view of inventory levels, enabling instant decision-making and responsiveness to market dynamics. With itembanc, this is facilitated by the utilization of BHN as a universal standard of value. It transcends the limitations of traditional methods by seamlessly interpreting value across diverse goods, locations, and currencies.

  1. Accuracy, Transparency, and Universal Standard of Value:

Traditional Inventory Management may occasionally be susceptible to human error, discrepancies, and delayed updates. The reliance on manual processes can introduce inconsistencies between recorded and actual inventory levels. Moreover, without a clear audit trail, transparency may be compromised.

On the other hand, Itembanc addresses these challenges head-on:

Tokenizing Business Inventories

  • Baseline Identification of Basic Human Needs (BHN): The first step in leveraging Itembanc’s platform is identifying and categorizing the core set of BHN that define the value baseline. These encompass vital categories such as food, shelter, basic clothing, paper products, and essential hygiene/medical items. This distinctive selection serves as the bedrock for interpreting value.
  • Quantifying Services and Inventories: With the BHN baseline established, businesses proceed to quantify their inventories and services in a standardized pattern. This step ensures that all assets are represented uniformly, enabling seamless comparison and valuation in the market.
  • Integration with Itembanc’s Platform: Itembanc provides an intuitive interface for businesses to integrate their inventories onto the platform. This process involves uploading relevant data, which is then tokenized and recorded on the blockchain ledger.

This level of transparency builds confidence in the accuracy of inventory data, strengthening relationships with stakeholders across the supply chain.

  1. Market-Driven Valuation and Economic Principles:

In traditional inventory management, the valuation of items is often determined by predetermined cost and markup formulas. While this provides a baseline for pricing, it may not accurately reflect the dynamic nature of the market. Fluctuating demand, changing consumer preferences, and evolving market trends can lead to situations of overstocking or understocking.

Itembanc, on the other hand, introduces a paradigm shift by utilizing market data and demand trends to dynamically adjust item values. This aligns the value of goods with actual market conditions. This approach is rooted in economic principles such as the Law of One Price and Purchasing Power Parity theory, ensuring a comparable valuation of goods traded in global markets.


By leveraging a core set of BHN as a universal standard of value, Itembanc offers not only real-time visibility and accuracy but also market-driven valuation and enhanced efficiency. As businesses navigate an increasingly dynamic market landscape, Information Currency emerges as a powerful tool for unlocking new levels of operational excellence and strategic advantage.

Validators in Item Banc's Valuation Engine: Synchronizing Data for a Standardized Valuation Framework

Validators in Item Banc’s Valuation Engine: Synchronizing Data for a Standardized Valuation Framework

In the intricate architecture of Item Banc’s transformative Valuation Engine, Validators assume a pivotal role, acting as the custodians of critical data that forms the bedrock of the system. This article delves deep into the technical intricacies of Validators and their indispensable function in harmonizing the valuation landscape.

Understanding Validators: Gatekeepers of Data Integrity

At the nucleus of Item Banc’s Valuation Engine lies a decentralized network of Validators. These entities play a dual role as data providers and verifiers, ensuring that the information fed into the system is accurate, reliable, and consistent. Validators act as the guardians of trust in a system designed to revolutionize how goods and services are valued.

The Validator Ecosystem: A Symphony of Data Points

Validators are a diverse cohort, ranging from individuals and businesses to communities and organizations, each contributing their expertise and insights. The process begins with Validators sourcing data on the availability and cost of Basic Human Need (BHN) products in their respective regions. These products, spanning essentials like food, building materials, clothing, paper goods, and hygiene items, constitute the universal baseline of value.

Data Sourcing: From Ground Truth to System Input

Validators traverse their local landscapes, gathering ground truth data on BHN products. This data includes availability metrics, pricing in national currencies, and any pertinent contextual information. Armed with this intel, Validators feed it into the Valuation Engine, initiating a process that will culminate in the establishment of a standardized valuation framework.

This journey of data sourcing is a testament to the meticulousness of Validators. They act as the bridge between the tangible world of goods and services and the digital realm of Item Banc’s Valuation Engine. Every data point collected is a piece in the puzzle, contributing to a comprehensive understanding of the global valuation landscape.


The Validation Process: Ensuring Data Consistency and Accuracy

Once data is fed into the Item Banc Engine by the Validators, the Engine embarks on a meticulous process with this data. This involves cross-referencing the provided information with existing data points, utilizing algorithms designed to identify anomalies or discrepancies. Validators play a crucial role in ensuring that the data adheres to predefined quality benchmarks, acting as the first line of defense against inaccuracies.

This process of validation is a symphony of algorithms, statistical analysis, and human expertise. Validators leverage sophisticated techniques to identify outliers and anomalies, ensuring that only accurate and reliable data shapes the valuation framework. This rigorous validation process forms the cornerstone of Item Banc’s commitment to data integrity.

Incentivizing Data Accuracy: The Validator Rewards System

To further incentivize accuracy and diligence, Item Banc employs a rewards system for Validators. Those who consistently provide high-quality data are recognized and rewarded within the ecosystem. This mechanism not only fosters a culture of data integrity but also cultivates a collaborative community of Validators dedicated to the system’s success.

Validators become stakeholders in the valuation process, and their contributions are celebrated and acknowledged. This rewards system not only recognizes the individual efforts of Validators but also reinforces the collective responsibility they hold in maintaining the integrity of the valuation framework.

Validators as the Guardians of Transparency

In a world where trust in data sources is paramount, Validators serve as the vanguards of transparency. Their rigorous validation processes and dedication to accuracy instill confidence in the valuation framework. This trust extends beyond the immediate ecosystem, impacting how Item Banc’s standardized valuations are perceived and utilized in the broader market.

Validators become the standard-bearers of transparency, their meticulous processes a testament to the integrity of the data. This transparency permeates through the entire valuation ecosystem, building a foundation of trust that underpins Item Banc’s vision of revolutionizing global trade.

Validator Autonomy and Decentralization

A hallmark of Item Banc’s approach is the decentralization of validation. Validators operate autonomously, free from centralized control. This ensures a diverse and inclusive network, encompassing a wide range of perspectives and expertise. It also guards against potential single points of failure, enhancing the robustness and resilience of the valuation system.

This decentralized model empowers Validators, giving them the autonomy to apply their expertise and local knowledge to the validation process. It also ensures that no single entity holds undue influence over the system, safeguarding against potential biases or monopolies.



In conclusion, Validators stand as the unsung heroes of Item Banc’s Valuation Engine, their contributions instrumental in shaping a standardized valuation framework that transcends traditional methods. Through their diligence, expertise, and commitment to data integrity, Validators empower Item Banc to revolutionize how the world perceives and assesses value. As the ecosystem evolves, Validators will continue to play a central role, in safeguarding the integrity and trustworthiness of the valuation process.

In this narrative, Validators emerge not only as technical entities but as guardians of a new era of global trade. Their dedication to data accuracy and transparency paves the way for a future where value is defined by a collective effort to ensure fairness and trust in the market. As Item Banc’s vision unfolds, Validators remain at the forefront, shaping the trajectory of a more equitable and transparent valuation landscape of the valuation process.