Bunz, Canadian Barter Platform Launched Its Own Cryptocurrency BTZ
Apr 10, 2018 Posted / 764 Views
Bunz Trading Zone, Canadian online trading and barter platform launch its own digital currency (BTZ) to attract more individuals to the platform.
BTZ, which is also pronounced as 'bitz' is accounted to be “the first Canadian cryptocurrency to launch to an already-established community and has its own members.”
Bunz took off in 2013 as a private Facebook group by fashion designer Emily Bitze to trade unused products with fellow companions. The community built up rapidly and soon extended past Facebook and Toronto.
In 2016, the Bunz application and site were launched.
The Globe and Mail report that the platform grew rapidly because of its easy functioning and no cash being involved. The absence of cash on a barter-based platform has likewise exhibited the greatest test to Bunz. As it is said, Without an exchange of money there is no obvious income stream.
According to the project’s blog, each Bunz user will receive 1,000 BTZ that can be exchanged for goods and services or simply exchanged between members. Initially, the 1,000 BTZ will be worth enough for about three coffees. BTZ will become available to the platform’s 200,000 users starting April 9.
As per the venture's blog, each Bunz client will get 1,000 BTZ that can be exchanged for goods and services or basically traded between clients.
Beginning April 9, BTZ is now accessible to the stage's 200,000 clients.
Sascha Mojtahedi, The CEO says the organization has outlined an income display, yet declined to remark on what it is or when it will be presented. Mojtahedi said that the launch of BTZ is proposed to pull in more clients to the platform.
He stated, “You have to be able to reward people with cryptocurrency that they’ve earned as a result of their passive involvement in the network and then enable them to use it with their peers and merchants. It gives us the room to create new models that people may not have thought of.”
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