Schrock Innovations Signs on With TradeBank

  • Comments: 5
  • Written on: March 31st, 2007

I signed the final paperwork today on a deal that should prove to be very interesting. Schrock Innovations is now accepting the TradeBank card for website development services. TradeBank is a barter system that uses “trade dollars” as a substitute currency so that businesses can trade their services for other services they need.

In many other barter systems, it can be difficult to seal a trade deal because two people need to have products and services which they are each interested in. TradeBank solves that problem with their “trade dollars.” For example, if Schrock Innovations develops a website for a TradeBank client, that client can pay Schrock in “trade dollars” which are deposited into a quasi-cash account just like at a bank.

Within 24 hours of signing on with TradeBank we have inked a deal for one website and have a solid lead on a second one. It is almost like having an online business manager seeking out customers for us!


Once we have completed the website job we landed, if Schrock Innovations needs a service offered by another TradeBank member (accounting services for example) we can pay them using the “trade dollars” we have in our account from the development of the website.

When I was first approached about this by Aubyn Fowler, the TradeBank of Omaha Broker, I was a bit skeptical. I didn’t really think we would see very much “trade dollar” income and I was concerned that there were not enough local TradeBank business members to provide a nice selection of merchants with which we could spend our trade dollars.

But my worries were soon laid to rest as we have earned more than $2,000 trade dollars from one deal alone. Naturally, we then started looking around for a place to spend the company’s new-found resource.

In a matter of hours we found a custom marketing company in Wichita, Kansas that designs pens, mugs and the like. We found a new company that will trade alarm monitoring, and we located a local vehicle repair center that we can trade out vehicle repair labor with.

The best part is that we don’t really have to do the leg work on the trades wither. Our Broker, Aubyn takes calls all day long from people looking for things they need. She spreads the word about our development services for us and we reap the rewards.

If you are a business owner and you are not a member of TradeBank I would STRONGLY suggest you join. Its an awesome opportunity. If you want some additional information drop me an email and I can send a brochure your way.

  1. Bill Tones
    Bill Tones said on March 31st, 2007 at 9:54 pm

    That is an interesting concept. I thought it was illegal to have any other curreny in the US??

  2. Josh the Aspie said on April 2nd, 2007 at 11:14 am

    No. If I wanted to pay you in Canadian money, I could.

    Technically, all American money currently is, is a promissory trade-note backed by the federal government. All trades using it are governed by the commercial code.

    So all Trade Bank is doing is creating an alternate form of currency backed, instead, by a company, and governed by common law.

    However by putting a dollar value on it, if the IRS starts looking into TradeBank they may start considering that taxable income.

  3. Josh the Aspie said on April 2nd, 2007 at 11:15 am

    Pardon, I could only pay you in Canadian money if you accepted it. But if we’re both amiable to using little rocks as payment, that’s up to us.

  4. Shelton
    Shelton said on April 7th, 2007 at 3:49 pm

    At the rate the US is going, Canadian money might be preferred!

  5. Aubyn Fowler said on April 7th, 2007 at 8:59 pm

    Trade dollars are considered taxable income by the government. At the end of each year Tradebank provides a 1099b (a form that the IRS designed for organized barter) to each of it’s clients. Organized trade is perfectly legal and governed by strict regulations.

    Tradebank clients are able to trade what they have for exactly what they want using their wholesale cost of goods which allows them to keep their cash in the bank where it belongs.

    Tradebank is definitely for savvy business owners like Thor Schrock and we are pleased to have him partner with us.

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