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The trading system is a gameplay mechanic that allows Players to trade with NPC Villagers.
At the top of the trading/inventory menu, there are two spaces - the lower one to trade the player's items for currency (red coins) and the upper space to trade the currency for items. The arrows allow the player to browse through the villager's inventory and select the item to exchange.
History
After weekly snapshot 12w19a, Jeb released a preview of the trading system[1]; in the image, a red currency item can be seen as well as an ore block which will probably drop items related to it.
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See also
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