Web site offers cashless system of spending
SEATTLE -- On DibSpace.com, you never know what's just a few clicks away. It could be a massage, a haircut or even legal work.
A new Seattle-based Web site is asking businesses to play "Let's Make a Deal."
On DibSpace.com, users earn dibits for the work they've done.
For example, when stylist Eric Smiley cuts hair, he cuts out the cash transaction.
"I just charge you 35 dibits instead of $35," he said. "It's kind of fun."
Smiley is part of a growing community trading services through DibSpace.com. In his case, he set a dibit price for a haircut, and has been building up credit with each DibSpace client he serves.
"Hopefully, someone with a body shop will sign up soon, because I need some body work done on my car," he said.
Some 1,200 users have joined DibSpace so far, and users have traded more than 33,000 dibits in services.
"Basically, you use it just like cash. Rather than getting cash for your service, you get dibits which you can spend on countless things on the site," said site creator Dominic Canterbury.
Users can also earn dibits by inviting others to join.
Canterbury developed the Web site with a big goal in mind -- save the U.S. economy. Under Caterbury's system, when people stop spending, employees don't have to stop working.
"This is a remedy to a vast inefficiency," he said.
When the country's in a recession, Canterbury said, it's not supply or demand that's decreased; rather, it is the medium of purchase that's lacking. The result is not unlike "dumping truckloads of products into a landfill," but this waste can be avoided by providing the appropriate medium, he said.
"So what DibSpace is is a medium of exchange to keep businesses trading even though the economy is tanking," he said.
In Canterbury's world, massage therapists who've seen clients cancel can trade their time instead of wringing their hands. Scuba instructors who've seen lessons sink can resurface with something they need aside from cash. And hair stylists can keep clients in their chairs.
"It's been great," Smiley said. "Everyone has been happy with me. I've been happy with them. It's just been a win-win situation."
Canterbury believes his site could open up a number of doors for many people, especially the unemployed.
"I can easily see someone entirely supporting themselves (on dibits)," he said.
At the very least, he said, those in a pinch could use the site to offset some of their expenditures.
"The (site's) potential to benefit the economy is absolutely staggering," Canterbury said.
Dibits may be a substitute of the dollar, but in the eyes of the IRS, they're both one in the same. In other words, DibSpace users will have to claim their dibit spendings come tax time. Canterbury said the site offers help on filling out the appropriate forms.
A new Seattle-based Web site is asking businesses to play "Let's Make a Deal."
On DibSpace.com, users earn dibits for the work they've done.
For example, when stylist Eric Smiley cuts hair, he cuts out the cash transaction.
"I just charge you 35 dibits instead of $35," he said. "It's kind of fun."
Smiley is part of a growing community trading services through DibSpace.com. In his case, he set a dibit price for a haircut, and has been building up credit with each DibSpace client he serves.
"Hopefully, someone with a body shop will sign up soon, because I need some body work done on my car," he said.
Some 1,200 users have joined DibSpace so far, and users have traded more than 33,000 dibits in services.
"Basically, you use it just like cash. Rather than getting cash for your service, you get dibits which you can spend on countless things on the site," said site creator Dominic Canterbury.
Users can also earn dibits by inviting others to join.
Canterbury developed the Web site with a big goal in mind -- save the U.S. economy. Under Caterbury's system, when people stop spending, employees don't have to stop working.
"This is a remedy to a vast inefficiency," he said.
When the country's in a recession, Canterbury said, it's not supply or demand that's decreased; rather, it is the medium of purchase that's lacking. The result is not unlike "dumping truckloads of products into a landfill," but this waste can be avoided by providing the appropriate medium, he said.
"So what DibSpace is is a medium of exchange to keep businesses trading even though the economy is tanking," he said.
In Canterbury's world, massage therapists who've seen clients cancel can trade their time instead of wringing their hands. Scuba instructors who've seen lessons sink can resurface with something they need aside from cash. And hair stylists can keep clients in their chairs.
"It's been great," Smiley said. "Everyone has been happy with me. I've been happy with them. It's just been a win-win situation."
Canterbury believes his site could open up a number of doors for many people, especially the unemployed.
"I can easily see someone entirely supporting themselves (on dibits)," he said.
At the very least, he said, those in a pinch could use the site to offset some of their expenditures.
"The (site's) potential to benefit the economy is absolutely staggering," Canterbury said.
Dibits may be a substitute of the dollar, but in the eyes of the IRS, they're both one in the same. In other words, DibSpace users will have to claim their dibit spendings come tax time. Canterbury said the site offers help on filling out the appropriate forms.
