Abstract: A system for sharing and tracking tools among users in the field without need of a centralized tool repository, the users include tool owners and tool owners' connections, each user having a mobile device in communication with a remote server to track tools and facilitate transactions between users, a call to action on a mobile device of a requesting user includes a request to borrow, loan, or transfer a specific tool from one user to another, a suitable notification is sent to relevant users based on the call to action, and upon physical transfer of the specific tool to the intended recipient, a tool record associated with the specific tool is updated to identify the current user in physical possession of the specific tool. Tools are selected for a transaction on the mobile device or using a bar code or RFID on or associated with the specific tool.