Introduction
Ever since Internet emerged, the cost that includes time and fees to transferring of values was drastically reduced. It brought efficiency towards distribution of values from one point to another point. Transaction now can be made in seconds and be received in seconds without wasting much time. The Internet can transfer values at a convenient rate but can only be confirmed through a central authority. This shows some level of unreliability because of the involvement of a central authority before transfer can be made. In this recent generation and the one to come, everyone is looking forward to possessing a level of freedom especially when it comes to their finances or values. But presence of central authority is still limiting the full potentials of using block chain. When it cones to block chain, central authorities are not needed, other performs a direct transfer which has digital and technical trust of values and information. Thus, the platform that enable one to transfer value easily without government or any central authority intervention(decentralization) is Bumo.
Bumo enables transfer to be made from one point to another without the use of any middle man.
Bumo is a project that allows values to be transfered from one party to another without any friction. It is freely built on a digital trust network which uses smart contracts for such transfer to be done. Bumo enables asset to become valued through the means of tokenization. With the help of tokens, participant would be able to easily transfer values to respective destinations.
Bumo major goal is to link several devices or network together inorder for transfer of values to be executed thereby enabling an existing technical trust which is efficient since its based on an ubiquitous machine.
Bumo Network
Bumo causes no barrier for the physical world to have a touch with the digital world. It create a free space to which this two facets is been agreed upon to work together. Any nodes or device or digital tool can join bumo network with no conditions or barriers to join.
BU- Token
This is the platform token that is used to manage and scale the economic activities on the platform.
Bumo is seen to posses the quality of transferring values just like how information does. Instead of going through processes that have the presence of a central authority, it is more efficient to go through a decentralized nature.
Bumo allows asset to be tokenize inorder to add and posses economic value to the platform. This token gives participants right to have full proper responsibility over his/her assets.
Bumo Smart Contracts
This is the means through which values are transferred. This smart contracts has its very own storage space. Here, there is an executable time for every transaction which is depended on the quantity of BU-token. Bumo developer have made it possible for smart contract to gain accessibility to data and information the block chain like account update of users.
Use Cases
Mr Richard has an asset but wants to transfer part of the value of asset to another party. He would have to launch Bumo for his asset to become tokenize which would enable him measure the rate if value at which he wants to transfer.
Mrs Precious needs a platform that dosen't use central authority before transfer is being made, so she adopts Bumo, which allow her to directly send values via smart contracts to avoid uncertainty or unreliabilty.
In conclusion, Bumo is the smartest way to have a swift and effective transfer of values from one point to another.
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