Item Banc tokenizes businesses putting them onto Web3 where they can avoid algorithims, SEO rankings and the neccessity to advertise.
Item Banc creates a baseline of Value based on the relative value of BHN products available for consumption around the world. The BHN (Basic Human Need) products include about 100 hard-goods total in the categories of food, building materials, clothing, paper products, and hygiene. The Item Banc Engine takes as input from Validators what BHN products are available at what cost in national currencies. This information is averaged together by the Engine in a process similar to the economic formulas of Purchasing Power Parity (PPP).
The benefit of this Valuation technology is that currencies can be priced in terms of basic needed goods instead of currencies being valued by the supply and demand of currencies themselves.
From this technology baseline, other valuations can be built and validated on the blockchain based on comparables. Our team is building a decentralized network that will reward persons who enter price data for BHN items in their city.