BUMO is a platform based on the chain of blocks for the transfer of obicuous value. All assets can be tokenized, such as gaming points, insurance, financial assets or even fixed assets, obtaining the category of assets with an obicuous value (Latin word meaning "everywhere"), so that they are easy to transfer and can be distributed freely around the world and in different chains.
It provides users with a global network that enables tokenization of various forms of asset; loyalty points, insurance, game points, fixed assets etc. whose value can be freely circulated via various transaction chains with core technologies like BU Firework, BU Orbits, BU Canal and BU CodeMach etc. as quick as the rate at which information are transferred.
Bitcoin and Ethereum transaction speed is very low and can only perform 7 and 13 transactions per seconds respectively WHILE platforms such as PayPal accommodates over 200+ transactions per second. But with a more efficient network “ready-to-use enterprise-grade infrastructure” unrivaled by the existing solutions put in place, BUMO can support up to 10,000 transactions per second.
The blockchain acts as a universal digital book to ensure that data can move easily from one point to another. BUMO also ensures that users holding corresponding private keys to assets can send such assets over the blockchain network freely.With the new consensus algorithm BU Firework, BUMO would have higher transaction ouput, highly scalable with better security.Tons of transaction can be done in seconds.Digital assets can easily be transferred and so gain new value.Digital and physical assets can be used to establish a new currency as legal tender.Transactions done on the network are safe.High cost of network maintenance is eliminated.
But today internet have solve a lot of these problem, though quarter of these problem solved but some problem still persist when sending information.
Blockcahin today have solved the problem of internet and these also have made the internet solved problem of information transfer perfectly than the previous time. People can transfer information very conveniently on a low cost.
To reduce the cost implications and also cultivate an environment that makes room for the sharing of digital assets quickly and securely, they are in the market for a public chain that can meet these needs.
Making a shortlist that is pruned down to three, BUMO is one of them, and most of the board members are in favour of going on BUMO, because they feel it does not limit them, and also ensures that assets can be moved from one location to another easily and securely, as long as the user in question has the matching private key.
I know about the team that is intending on creating a new generation of the value circulated Ubiquitous Trust Network that will allow “Value” to flow freely like just simple “Information”.
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