Canadian Barter Platform is to Launch Its Own Crytpo-money

A Canadian Online Trading Platform is to introduce its own cryptocurrency

According to some Canadian local newspaper, Bunz Trading Zone, an online trading platform is going to launch its own cryptocurrency named BTZ. BTZ is the first Canadian cryptocurrency that will be available for the existing cryptocurrency community members.

Bunz, the company was launched way back in 2013, that was based on the idea of barter system i.e. friends could exchange unused things with their friends. It was founded by a fashion designer named Emily Bitze.  The community grew fast with the pace of time and expanded its network beyond social networking platforms such as Toronto and Facebook. In 2016, Bunz launched its own app too.

According to the Canadian daily, Bunz has grown in a great manner because of no involvement of cash as it was purely based on the barter system. But, on the other hand, the biggest problem faced by Bunz was that there was no obvious flow of income without the exchange of currency.

To maintain the flow of transactions and to involve money in, the Barter and the online trading platform has decided to provide 1,000 BTZ to its every user. The idea to provide 1,000 BTZ, is to allow them to exchange the goods and services for BTZ. 1,000 BTZ worth would be equal to buying three coffees. When the BTZ are finished in customers’ account they can buy many more. BTZs are made available to the general public from 9th April’18.

The CEO, Sascha Mojtahedi, of the company has designed new revenue model but it is hidden that how and when the model will work. BTZ is introduced to attract more users towards Bunz.

There is a lot of Start-ups around the world, which are going to launch their own cryptocurrency. Recently, an e-commerce giant in Japan, Rakuten has decided to introduce its own cryptocurrency. Hiroshi Mikitani, the CEO and founder of the company named it to be the borderless currency.

 

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