Hodroff is an international authority on the use of noncash financial
instruments for commercial and economic development applications. In
2005, he was selected an Innovator of the Year by Minnesota’s
Finance and Commerce newspaper. Joel is also the Founder of
Minnesota-based DualCurrency Systems (DCS).
DCS designs programs and systems at the intersection of loyalty marketing, credit
card services and payment systems. In 1997, the company was awarded two
U.S. Patents for its novel DualCurrency Pricing, Accounting and Transaction Settlement
system. The system manages transactions in a combination of U.S. dollars
and noncash financial instruments, such as loyalty rewards, barter dollars or
DCS developed Universal Reward SolutionsSM
for the incentives industry to optimize redemption while enhancing
customer satisfaction and brand loyalty. The same DualCurrency payment
system and Virtual Community
Warehouse also manages innovative incentive programs, including
wellness incentives that lower employer and employee health care
costs and volunteer rewards that promote healthy communities.
The genesis of DualCurrency Commerce occurred during Joel’s
years as a commercial barter broker. There he began to design
a method of blending B2B barter with C2C (individual to individual)
barter into a system of large-scale B2C barter. He eventually
integrated corporate scrip — frequent flyer
miles, hotel scrip and other business currencies — into the
DualCurrency approach, creating a highly versatile new financial
instrument and a next generation payments platform.
Joel gained his early entrepreneurial experience as the Founder
and President of Solar Consultants, Inc. in Albuquerque, NM. An
informative and entertaining speaker, his groundbreaking work in
DualCurrency Commerce is documented in The
Future of Money by Bernard Lietaer, The New Alchemists by
David Boyle, and the Japanese Public Television Documentary Ende’s
Warning to the Future.
Joel has been invited to present DualCurrency solutions to executives
at: VISA, US Bank, Wells Fargo, MoneyGram, United Airlines, Chase
Bank, Thrivent Financial, United Healthcare, Digital River, and elsewhere.