Barter transaction refers to the equivalent exchange of goods and services between enterprises (individuals) without cash. The concept of barter can be traced back to the earliest production and living activities of human beings, such as: 1 bag of rice for 2 sheep. The early barter transaction was a kind of barter, and money was not needed as a medium of exchange. Modern barter transactions began in the United States in the 1950s. Since the 1980s, modern barter trading companies have flourished in the United States, Canada, Australia and other countries, which has become an important way for these countries to reduce cash consumption, increase sales, reduce inventory, develop new customers, open up new markets and promote economic development. In the 1990s, the mature development and application of network technology provided a more perfect technical basis and application conditions for modern barter transactions, and the combination of e-commerce and barter transactions became a model for high-tech transformation of traditional enterprises.

Modern barter transaction, if explained in one sentence, is a trading platform based on the Internet, which uses barter quota (instead of cash) and special barter trading software to break the limitation of time and space and realize the free exchange of goods or services between enterprises and consumers.