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Social Trade Organisation

The fact that money is a major factor in the structuring of all facets of contemporary society has motivated STRO to concentrate its study and actions on this area during the past 20 years.

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Crom Alternative Currency System

formation of supply chains

An entire supply chain, from the distribution of raw materials from the supplier to the producer to the final delivery to the customer, is included. The channel of distribution refers to the portion of the supply chain that transports the final good from the manufacturer to the consumer.

Technologically innovative

An expanded definition of innovation is technological innovation. Although innovation is a fairly well-defined notion, many people especially those in the academic and corporate worlds understand it to imply different things.

different models of financing

Financial modeling is a tool that businesses actively employ to inform their financial strategy and strategic choice-making. Financial models provide a data-driven, mathematical methodology that reveals the current state and future direction of your business.

politically correct

The study of the effects of cultural variance on both individual financial decisions and the functioning of financial markets is known as cultural finance, a developing area in behavioral economics.

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Market Economy

Meaning of Market Economy and How it Works?

An economic system where people and businesses can operate freely is called a “market economy.” This system promotes creativity and competitiveness since it is founded on the rules of supply and demand.

Market economies permit companies to freely produce and sell goods, in contrast to command economies, which manage the means of production. Other businesses are open to investment by entrepreneurs. The private sector’s profit-driven behavior contributes to increased economic efficiency. This article will teach you more about the topic and how it functions.

market economy

What is a market economy?

A market economy is an economic system where the combination of supply and demand determines the price level of products and services. The lowest price is what drives companies and people to compete with one another and create the highest-quality, most sought-after products. Competition can be advantageous, but it can also be harmful in some circumstances. Less competitive people are at a disadvantage.

People who are knowledgeable about supply and demand laws can concentrate on playing at their highest level. However, there isn’t a foolproof method for choosing the appropriate pricing. And some contend that market regulation is necessary to stop the economy from squandering resources.

The way it works

Different marketplaces frequently overlap because they are different from one another. The labor market, in particular, differs from the selling of goods. Low-income households frequently use low-wage laborers. These workers may even grow poorer due to their disadvantage in the market. Any area where goods and services are traded is referred to as a market. They are applied to real estate as well.

Oligopoly  and monopsony markets

Markets with an oligopoly tend to have a small number of powerful buyers and suppliers. These businesses have market sway. On the other hand, monopsony markets are defined by a solitary buyer and seller.


Market economies can be understood in part by referring to Adam Smith’s definition of self-interest from the 18th century. He stated that the size and scope of the market affect how the labor is divided.

Businesses are driven by self-interest to provide the finest quality products and charge the most for them. In market economies, it is crucial for customers to be happy with their purchases. A service or good will probably be in high demand if it is costly, and it will probably be in low demand if it is inexpensive.


The profit motive

Private businesses are motivated by profit, which fosters innovation. Because of the market’s openness to competition, consumers can access a greater range of options. Asset owners can make money by selling, renting, or leasing their possessions.

Final view

Market economies are viewed as substantially self-regulating by some people. Some people think they’re the product of greed. While it is true that a prosperous company can lower prices and raise product quality, there is frequently no structure to support those less successful than others.

Global Currency

How to Change Top Global Currency Means?

One of the most widely used currencies worldwide is the US dollar. Nearly 80% of cross-border transactions use it. The dollar is more widely used than the euro, the Japanese yen, and the Russian ruble. The dollar continues to be the most widely used currency in the world for various reasons. Some of these explanations concern the dollar’s role as a reserve currency. The global economy would be severely disrupted if the dollar dropped below the value of other currencies.

The US dollar is a preferred choice for several reasons

Because it is a reserve currency, the US dollar may obtain low-cost credit. Because of this, foreign investors favor it as their investment option. Nevertheless, it might also result in an overreliance on the dollar during difficult economic times.

The dollar is the most widely used and adaptable currency for international trade; however, it is not the only one. Its application is, therefore, crucial in the world of commerce. Although American exports would be more competitive with a weaker dollar, jobs could also be lost.

A safe haven during crisis

The US dollar has been the top global currency for a long time, even though the euro has eclipsed it over the last decade. As the global economy grows, the demand for dollars will likely continue to increase. During times of uncertainty, investors look to the dollar as a safe haven. In addition, the value of the dollar can be volatile. That means that during periods of economic turmoil, the dollar can burden American businesses and producers.

global currency

The most widely used currency

The US dollar has been the main reserve currency in the world since World War II ended. The dollar is the most frequently used currency in international trade, based on the International Monetary Fund. The Eurozone and the Eurasian Economic Union are two nations that have made attempts to alter the current situation. But it’s unlikely that the United States will decide to give up its position in the world’s monetary system any time soon.

Changing the status quo

Redistributing income is one strategy to alter the current situation. Uneven income distribution causes consumption to decline and savings rates to increase. Equitable income distribution across several countries would improve the global economy’s balance and boost global growth. Of course, doing it is not simple. Unbalanced income inequalities are a problem in many economies, which lowers domestic demand and necessitates trade imbalances.

Introducing a new global currency

Introducing a new global currency is another approach to alter the current situation. China and Russia advocated for creating a new global currency at the G8 conference in March 2009. Western nations reacted skeptically to their ideas. Nevertheless, it appears that a new coin will soon be introduced. It is a good idea to consider the advantages of a new global currency even though it is not an instant procedure.

Ecommerce Payment

Ecommerce Payment Methods For Beginners

It doesn’t matter if you are starting an eCommerce business or going to use one, as this article will help everyone. You need to know a range of payment alternatives if you’re beginning an online store. The ideal payment option can increase sales and broaden your clientele. However, if you are a user, you can choose the online payment option that best meets your needs. Here is a primer on the many kinds of internet payments.

Bank transfer and card payments

The most popular methods for making payments online are bank transfers, credit cards, and debit cards. These techniques are safe and simple to employ. Even allowing clients to pay with cash is a possibility. Some payment options, meanwhile, are more dependable than others.

Cardless payment

In the world of eCommerce, cardless checkouts are a huge issue; therefore, it’s critical to provide your customers with a simple option to make a purchase. Making the procedure user-friendly for both desktop and mobile users is crucial. Many other excellent payment options are available, such as Venmo for Business, which enables users to pay via a mobile app.

Apple Pay, PayPal, and Amazon Pay

Another way to accept payments on a mobile device is by using Apple Pay, a payment wallet. It costs 1.9% extra $0.10; however, it can be helpful for customers that purchase exclusively on their mobile devices. A common way to purchase on the Amazon website is through Amazon Pay. A transaction reference number is needed to be entered by customers. After entering the data, a payment gateway will inquire about their ability to pay.

Direct debit

Direct debit is another popular approach. Direct debit transfers funds straight from the customer’s bank account, much like a check. Buy now, pay later is an additional payment choice. Customers can now immediately finance their internet purchases thanks to this. While some of these alternatives are more appropriate for pricey goods, they can also be used for less expensive goods.


Bitcoin is one of the most recent payment methods. This is a great pick for those concerned about privacy, even if it only makes up a small fraction of the online payment market.

digital wallets

PayPal and digital wallets

A well-known online payment method is PayPal. 250 million individuals worldwide utilize this service, which is safe and secure. Using PayPal for your company may be an excellent choice if you don’t have a physical credit card. iDEAL, a digital wallet service that functions as an additional layer on top of a bank is one of the available online payment options. Adyen and Skrill are further choices.


Making the best payment method choice is a difficult choice. Make sure the ones you select are appropriate for both your clients and your business. The appropriate payment options available can make the difference between success and failure. Additionally, you will be able to retain more consumers for longer if you give more options.

Currency Exchange

A Guide to Currency Exchange in the US

It goes without saying that the United States is home to many fantastic locations and has a fascinating history. You can explore the country’s diverse culture, stunning beaches, or the biggest snowy woodland in the world here. You may avoid running out of money while taking in the sights by using your credit card wisely and packing the smallest bills. There is much more that you can learn about in the following sections:

money exchange

The common types of money exchange

While traveling in the US, there are various options for exchanging money. Some of the more popular choices include using a credit card to buy foreign money or going to a booth where you may exchange currencies. However, you shouldn’t do this in your neighborhood bank because they might not provide a reasonable exchange rate.

Consider buying your cash in bulk before you go if you want to prevent any problems. A smart place to start is a credit union because they frequently provide better rates. Alternatively, you can withdraw money from your account by going to an ATM.

The exchange at a teller station

A teller station at your local airport is one of the greatest venues in the US to convert money. These are terrific methods to remove foreign currency from your pocket or pocketbook because they are frequently quite convenient. Some banks even provide a handy and cost-free online option for you to complete this task. Similarly, you can purchase foreign money in person at a big financial institution’s local branch.

Carry small notes

The US dollar is recognized as the nation’s official unit of exchange. In actuality, it is the most widely used money worldwide. Having some little money on hand for tolls and tips is also a smart idea for travelers.

Even while the exchange rate at a teller station could be favorable, you are better off at a specialized foreign exchange shop if the exchange is greater than a few cents. It is important to remember that most major US banks will exchange your money for you, even though these might not be your best option.


Use the internet

Another excellent source for learning more about the mentioned money is the internet. A staggering number of websites exist that compare the exchange rates offered by hundreds of banks. The majority of banks just impose a small price for these services.

However, it’s crucial to remember that costs differ significantly from bank to bank. Therefore, it’s usually a good idea to phone your bank first to ask about fees and find out what to expect if you don’t want to pay more than you have to.

Order foreign currency through the mail

Try ordering your foreign money via the mail if you’re seeking an alternative to the standard cash conversion. However, there will be a small handling charge and delivery fees. You can accomplish this at your neighborhood post office or by using a courier service.

Local Currencies

What Are Local Currencies? Examples Of How To Redesign The Economy

Local currencies are defined as the ones that circulate in a community, mainly in a local geographical area. They are often regarded as the official, complementary legal currencies accepted by residents, traders, and other incentive shops in that area.

The introduction of local currencies has helped strengthen a particular community’s economy and decarbonize it. In addition, over the years, they have also proved to reduce carbon footprint and increase local resilience. However, since they are not legal tenders, they are often accepted with the exchange of goods that form a part of the currencies network trades.


The growth of local currencies

When people say ‘the economy is failing us,’ they mean the gradual decline of an economic system in this world filled with finite and limited resources. One of the best examples of this is seen in Europe’s recent 717 Amendment act of Common Agricultural Policy to develop a more sustainable approach to agricultural business models.

Some experts say that the decline in economic stability could be due to the disconnection of the population in deciding the different economic issues. Also, sophisticated terms like Success, GDP, development, and progress can be another reason which has an adverse effect on the population’s well-being.

However, introducing local or complementary currencies has slowly helped redesign the economy. Moreover, due to the severe instability of the international monetary market, the recognition of local currencies has helped nurture the local economy.

local currencies

Examples of local printed currencies

The Bristol Pound

The Bristol Pound was invented by over 2000 financial activists and other independent businesses which used paper currencies and online trade in Bristol, which helped localize supply chains and money circulation in the city. Their official website stated that this local currency was widely used to pay for trains and busses and accounted for nearly 6 million pounds in total in 2012.

Findhorn’s Eko

Eko is a complementary currency developed by the community in Findhorn Ecovillage in Scotland in 2002. It was widely accepted by different clubs, pubs, and other members of the neighboring village, accounting for 150,000 pounds of turnover in 2021.

The Swiss WIR

The Swiss WIR (Wirtschaftsrinbg) was the local currency developed in the 1930s due to international financial instability and global currency shortages. It was used by over 20% of the population in other small and medium-sized businesses, which provided an annual turnover of 1.2 billion Swiss FRANCS.

Chiemgauer in Bavaria

Rosenheim-Traunstein is a small town in Germany, considered one of the most prosperous regions to generate alternative currencies. It was started in 2003 by a school finance teacher who wanted to teach 116-year-olds about finance differently. So they generated their currencies and managed accounts that could be used in small shops and businesses. Since the currency is only valid for three months, it provides a great way of keeping the transactions as local as possible.

Foreign Exchange Market

Everything To Know About The Foreign Exchange Market

The terms FX, Forex, and foreign currencies are not foreign to the people who trade on international markets. The foreign exchange market is an international trading platform where traders sell, buy or speculate on the exchange of currencies from around the world. The currencies are generally in currency pairs. The foreign exchange market comprises forex dealers, central banks, hedge funds, management firms, investors, and traders.

It is one of the first financial markets to contribute significantly to the global economy. Now, it is also considered one of the largest financial markets in the world, which is also responsible for currency conversions in international trade settlements and other foreign investments.


Trading in the foreign exchange market

The exchange in the foreign market happens through pairs where the value of one currency will be higher than the other in the pair. This helps determine the amount of currency that can be bought from one country by another. This system also helps establish liquidity among other currencies to maintain overall market stability.

The value of a currency depends on whether one of the two:

  • Free float – value is determined by the market forces like the supply and demand relationships
  • Fixed float – this value is determined by a country’s governing body, like the rupee, US dollars, etc.

One of the best features of the forex market is it is a 24 hours market that is closed on weekends. However, if one forex hub closes, the other opens from another part of the world. In this way, there will be liquidity in the market, attracting the largest appeal class. The best liquid trading pairs are:


Types of foreign exchange markets

There are three major types of foreign exchange markets, they are:

foreign exchange markets

  • Spot forex market: It is where the immediate exchange of currencies occurs. This type occupies most of the market, involving investors and buyers from around the world in the financial sector.
  • Forward Forex market: This type has an agreement with the buyer and the sellers where currencies are exchanged at the discussed price, and a date is also set for future exchange. In this type of exchange, there is no actual exchange of currencies, but there is an exchange of value. It is often used for hedging.
  • Futures forex market: It is similar to the forward forex market, where the currency values are exchanged on the agreed date and price. However, the only difference is that this market is regulated on the exchange. Since this type also removes the risk of exchange from other markets, it is also used in hedging.

Advantages of foreign exchange market trading

  • The market is not suitable for rules
  • No cleaning houses and other bodies which oversee the whereabouts of the market
  • No commissions for investors
  • You can use as many currencies as you want
Foreign Exchange

Foreign Exchange Solutions for Online Marketplace Sellers

In today’s digital world, almost all businesses, especially online marketplaces, depending on their payment solutions for smooth operation. If your online store or marketplace can’t process payments safely, securely and reliably, you won’t be successful in building a sustainable e-commerce business. When it comes to online payment solutions, things are more complex in the case of e-commerce websites, where payments have to be made to many vendors, unlike an online store. In addition, if your e-commerce website operates in different countries, the payment getaway you use should support multiple currencies. Some of the challenges faced by payment solutions include fraud protection, handling complex marketplace payments and dividing the fund between vendors. Choosing a payment solution with features vital to your e-commerce platform or online marketplace is essential. Some features online marketplaces look for in a payment getaway are split payment processing, support of multiple currencies, custom chained, and parallel payment flows, subscription payments, technical support, third-party integration, fraud protection tools and the facility to document. Here are some of the best foreign exchange solutions for your online marketplace:

Braintree Marketplace

Braintree Marketplace:

This Chicago-based company is a payment provider for e-commerce platforms and mobile apps. Its subsidiaries include popular apps such as Venmo and Modest. Braintree is the payment platform for some leading brands like GitHub, Dropbox, Uber, StubHub and Yelp. Braintree supports split payments, which is useful if you want to build a two-sided marketplace. Braintree supports more than 130 currencies and operates in over 46 countries. Another significant advantage of using Braintree as your payment provider is that it has advanced SDK features and is PCI DSS compliant. However, Braintree doesn’t support international platforms, and the marketplace owner should be registered in the U.S.

Stripe Connect:

With customers from over 35 countries favouring the service, Stripe Connect is one of the most popular payment getaways in the world. Stripe Connect allows for split marketplace payments, supports over 135 currencies and offers an easy payment solution. Stripe has the cleanest API and simplest merchant onboarding compared to other payment solutions available. Some of the most popular businesses using Stripe Connect are Google, Instacart, Amazon, Notion, Shopify, Lyft, Kickstarter etc. Stripe Connect is also PCI DSS compliant, thus ensuring a high level of security for your payments. Stripe Connect might be the best option if you want to scale and expand your business.


Founded in 1998, PayPal is the oldest and most popular payment provider in the world. It supports bank transfers in over 100 countries and facilitates two-sided marketplace payments. It also supports split and mass payments and is PCI DSS compliant, and allows your merchants to be MoRs, provided they have PayPal Business Accounts. Some businesses that use PayPal as their trusted payment solution include Dailymotion, NetSuite, iFundWomen, Replin, Grailed etc.


What is a Marketplace?

A marketplace is a venue where business owners can join together again to offer their wares to a select group of buyers. The responsibility of a marketplace holder is to connect the ideal vendors with the ideal buyers in order to boost revenues through a top-notch multi-vendor launch pad. In exchange for providing a venue for vendors to commercialise and increase their sales, the open market owner receives a fee on each transaction. On the contrary, a particular shop offering its own things online is known as an online marketplace. The organisation that controls the site and the goods oversees both business and marketing activities.

Many companies follow the suit

Lengow asserts that platforms currently account for more than 60% of all sales, and that some of the prosperous companies on the planet (such as Airbnb, Ebay, and Uber) use this corporate structure. Because of their nature as cross vendor platforms, marketplaces might appear to be far more difficult than some other, business competitors. The auction approach is really remarkably flexible and inexpensive for new firms.

Comparison of a web retailer vs. a marketplaces

A marketplace is a venue where sellers could join with each other to offer their wares to a targeted clientele. A marketplace founder’s responsibility is to match the appropriate merchants with the appropriate clients.

Web Retailer

No inventory

A marketplace is a huge company that works with numerous suppliers, has a database, and often carries a lot more product than an ecommerce site. Does this imply that they require more management skill? Nope, sometimes not. Contrarily, this is frequently the circumstance. When launching a company, an online shop keeper who handles their own inventory and supply typically needs to make significant investments in product acquisition and administration. However, since independent merchants own the inventory that is available on platforms, there is no expenditure in managing inventory.

Customer satisfaction

There are a lot of things to consider while running an online store, including controlling the inventory, the website, the consumers, the advertising, the revenue, the social networking sites, the material, and many others. When operating a global market, on the other hand, the primary goal is to merely provide the greatest environment for consumers, both open market merchants and the clients they serve. There is a great deal less work for business owners that use a cutting-edge platform SaaS solution to handle the technological aspect of the marketplaces. Because of this, they could give their customers more worth and make the marketplace better suited to satisfy their wants.

Online Marketplace

Tips to Stand Out When Selling on an Online Marketplace

Surviving in the arena of online marketplaces is a tough job. To operate an online store successfully, you must be on your toes consistently due to the high competition to attract customers. The number one strategy to be successful in the online marketplace is to stand out among the competitors and establish yourself as the industry leader. In establishing yourself as the industry leader, you automatically increase the trustworthiness of potential customers. Increasing sales and consistently delivering profit is what helps in the survival of a business in the long term. Without making sales, there is no future or scope for your business to scale or expand. Here are some of the top ways to stand out when selling on an online marketplace:


Building a truly iconic brand that will stand out on its own requires excellent storytelling. Customers are interested in knowing about the origins of the brand they purchase from, the stories of the founders, the journey and evolution that led to the creation of the brand, etc. You can tell stories about the origin and inspiration behind each product, taking potential consumers through the history and people that helped create the product. The power of storytelling can be significantly made use of when selling vintage items or artifacts. Some of the most iconic brands, such as Versace and Chanel, take the customers through the journey of how their products are made from concept to finish.

truly iconic brand


In order to attract consumers’ eyes, one should make use of good photography. In marketplaces for clothing or other listings, high-quality photography is critical. The pictures of your products should convey all the essential details of the products to the consumers. Examples of marketplaces that make use of good photography are AirBnB and Amazon. The aesthetic portrayal of products and services naturally attracts customers. Another critical factor is to provide the most detailed product descriptions. With a creative product description that helps the customer in choosing the product, you can encourage them to stay on your online website longer.

Social Media:

Today’s online marketplaces should make proper use of social media platforms in order to attract customers. Today’s customers are influenced by their favorite social media stars and recommendations from online friends. You can encourage your customers to leave positive reviews, interact with your brand’s social media handles and share your products on social media. One method to get this interaction in an organic manner is to have good packaging they want to share on social media with an unboxing video. You can also customize your products by adding a handwritten note or providing something complimentary for free. The measures to make your customers feel special will surely impress them. Remember, an impressed customer is your biggest promoter.

Currency Exchange

This is How Currency Exchange Works

A licenced company that offers currency exchange services is known as a currency conversion. Banknotes and government currency are typically exchanged over the desk at bank stations, that can be located in a variety of locations including hotels, institutions, motels, and spas. The minimal charge that currency exchanges charge and the proposal gap in a commodity are how they generate revenue.

You can carry out purchase and offer operations at currency exchange companies, including online and offline channels, to convert one money into some other. As an illustration, if you have US dollars and wish to convert those for AUD, you could take your US cash to the money exchange shop and use it to purchase AUD. The worldwide exchange rate, which is essentially a weekly fluctuating value determined by a collection of financial institutions that trade currency, will determine how much you could spend.

Currency Exchange

Where to find it?

There are many different types and locations where currency exchange firms can be found. A large multinational bank could provide currency conversion operations at its cashier terminals, a stand-alone, tiny business that operates out of a small facility, a larger network of modest exchange-service kiosks at airlines, or other such scenarios.

Currency exchanges are frequently available at airlines, allowing visitors to buy country’s currency while departing or convert any leftover funds to their native currency when they return. The prices at airport swaps would typically be a little more exorbitant than those offered by a banking in the town of travel since terminals usually thought of to be the final point of contact.

Cashless economy is more popular than ever because some institutions offer devices and can have several denominations loaded on them without paying any charges. Additionally, customers who bank with a financial company have the alternative of using offshore ATMs. For instance, HSBC ATMs are widely available throughout Asia, the Middle East, North Africa, Central and South America.

You could also find currency conversion solutions through companies that provide these internet services. This can be a product that a lender, forex broker, or even other commercial bank offers as part of a wider offerings.

The different definitions

Adaptable Rates

The foreign exchange, sometimes known as forex, controls the majority of currency rates. These currency markets are referred to as score higher. Since this is the case, currency rates vary often.

Fixing Prices

Other economies, such as the riyal of Saudi Arabia, seldom ever move. This is due to the fixed rates of exchange used in such nations, which only alter at the administration’s direction. Typically, these prices are linked to the dollar. Their monetary authorities have sufficient funds in their reserves of foreign currency to manage the value of their national currencies.

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