Problems solved: The benefits of DLT 4.0, Bit Beta System — #1 — It’s mobile!
The fourth-generation distributed ledger technology (DLT), Bit Beta System (BBS) is bringing “blockchain” to life by “putting its power and potential literally into the hands of people and organisations in the real world”, said BBS founder & CTO Ronald Aai.
“We want to bring blockchain to life by putting its power and potential literally into the hands of people and organisations in the real world,” — Ronald Aai
This is significant, especially in less developed parts of the world whose populations missed out on the personal computer revolution yet can now access cheap but powerful smartphones.
In much more prosperous regions, of course, the smartphone is so ubiquitous that their overuse around a dinner table is a “first-world problem”. Moreover, many people upgrade their phone every time a new model is released.
BBS’ highly innovative mix of technologies and protocols ensures ledgers of everyday transactions are distributed peer-to-peer across mobile devices such as smartphones and tablets.
“BBS works by pooling computational, networking, and storage resources from participating peers who use smartphones and point of sale devices to transact with each other,” Mr Aai explained.
“Every transaction is treated as a file or block in its own right. And we have developed a FSDLT [File System Distributed Ledger Technology] and combined that with other technologies and protocols to process transactions in real-time.”
The result is that the users and beneficiaries of BBS technology enjoy the everyday utility, speed, and savings of a modern blockchain technology in a convenient and user-friendly format on their mobile devices.
Every mobile dApp is also a potential transaction witness (“block miner”). A BBS-powered dApp will earn its owner a share of the nominal fees paid by the seller in any transaction the dApp witnesses.
A BBS-powered mobile dApp wallet is also where a BXB staking utility token purchaser can hold their tokens to earn a fair share of network profits.
Private sales of the BXB staking token will run from November 8 through to the end of 2018. If deemed necessary, presale and public sale phases will continue through to the end of March 2019. The only source of trusted information about the BXB token sale is https://bbeta.io/.
About Bit Beta System (BBS )
Bit Beta System (BBS), the fourth-generation distributed ledger technology (DLT or “blockchain”) developed by Singapore-based Bit Beta Pte Ltd, promises to bring people closer together at work and play and life on a fast, stable, scalable, mobile, and adaptable platform. BBS corrects the shortcomings of first- and second-generation blockchains to offer a true DLT alternative to the slow and expensive traditional payments systems.
BBS benefits everyone. Designed for mobile devices, BBS lets people and organisations transact globally in real time, using an asset-backed stable coin as the medium of exchange, without incurring high intermediary and forex costs. BBS lets organisations bundle the benefits of its payments platform into feature-rich decentralised applications (dApps) for customers and stakeholders. Organisations retain full ownership and control over the transaction data for business, accounting, and regulatory reasons.
People who use BBS-powered dApps automatically earn real value as “witnesses” (“miners”) to others’ transactions without requiring any special knowledge or equipment. And all BXB token holders, large and small, enjoy their fair share of network profits.