BYZBIT Blockchain Technology and Token to Revolutionize the Paper Mill Business Economy
Introducing BYZBIT — A Blockchain Solution
Defined as “an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value”. From a technical perspective, a blockchain is the term for a distributed P2P network. It’s append-only, immutable and only updatable with the consent of the peers within the network which is performed using the built in consensus mechanism.
It is a global network of peers in which each peer holds a copy of the distributed ledger. It contains every P2P transaction from the very first to the most recently verified, all in chronological order. Cryptography is used to sign each transaction which offers high security and integrity.
Blockchain technology will convert traditional manufacturing factory setup to a sophisticated smart digital manufacturing to produce high quality paper using agricultural waste like rice or teff straws. Integrated with smart energy that the company will adopt, production of paper will be more efficient and there will be less interruption of operation.
How does it differ from other coins?
BYZBIT is a utility token. That’s why it will generate more users and more demands for usage and adoption.
When we say utility token, we mean a digital cryptocurrency token that is issued in order to fund development of the cryptocurrency project and that can be later used for purchasing goods or services.
Utility tokens represent access to a current or future product or service (in this case Byzbit). Buying digital tokens could be considered as buying a software license that gives the owner the right to access the final product or service. One thing that differentiates tokens from software licenses is that they are transferable by user to user or user to crypto exchange. Opposed to Bitcoin, utility tokens offer the ability to encode functionality that matches the desired business logic in a service or product using smart contracts. Bitcoin has very limited scripting abilities which lead to limited use cases for the currency besides sending money from A to B.
With the growing demand of digital currencies and decentralized technology, genius heads from around the world are developing varied ways to exploit the benefits of the new-age mechanisms and use them in every possible industry domain which one can think of.
The launch of BYZBIT, which takes pride in being the world’s first decentralized marketing platform for the Paper Mill Business has been regarded as a revolutionary development in the paper industry. Paper, though being widely available, is one of the most important parts of our daily routine lives.
BYZBIT is a tokenized Paper Mill Factory which aims to utilize agricultural waste and other materials in producing paper and blockchain technology in fostering a value-added business economy. Thereby, this will help in increasing production capability, efficiency, and will lead to a reduction of waste and environmental pollution. Through the introduction of blockchain-centered technology, the platform promises to support a clean and green environment in a financially productive manner.
The new platform, BYZBIT operates on Ethereum ERC-20 module, which enables exchange of value between the participants of the BYZBIT network. In which turn facilitates linkage of economic communication flow between physical and digital niches, fostering convenient, and quicker value transfer.
As per the BYZBIT Paper Mill Factory module, the pedagogy will transform a traditional manufacturing firm into an advanced smart technology has driven manufacturing center which will render to the production of superior quality products using agricultural waste products. The firm will adopt integrated smart energy to make paper production easier and efficient in an array of ways. It will also curb the issue of interruption of operation as smart energy will be infused as smart solution for the power requirement of the process.
BYZBIT (BYT) will work as a utility token and so will lead to an increase of user base, usage demands, and adoption. A utility token can be described as a digital cryptocurrency token that is issued to support/fund development of the crypto project and also be used for purchasing goods and services in the future.
Utility tokens ensure access to a current or future product, solution, or service. When a person buys a digital token, he/she gets the right to enjoy the final product or service. These tokens render the facility to encode functionality that matches the business logic in a service or product through smart contracts.
ACCURATE INFORMATION
- Website: https://byzbit.net/
- Whitepaper: https://byzbit.net/download/byzbit-white-paper-ver1-0.pdf
- Telegram Group: https://t.me/byzbit
- Telegram Channel: https://t.me/byzbitchannel
- Facebook: https://www.facebook.com/Byzbit/
- Twitter: https://twitter.com/byzbit?s=07
- ANN Thread: https://bitcointalk.org/index.php?topic=5172598.msg52071766#msg52071766
AUTHOR
Bitcointalk User Profile : Ris88
ETH Address : 0x2CF4F93348116B2Ce67Ecb7A9eA57E10Bf0f81A2