Internet started in the same format in the way block chain is gradually becoming universally accepted. Internet solved a lot of problem especially the problem of ubiquity in the transfer of information and values from one point to another. It made transfer very easy and fast for people to communicate easily. Now, the internet has made people to be able to send values from one place to another with a low cost and less difficulty. Notwithstanding, if the Internet have solved all the problems, then why is block chain here and wanting to be adopted? this shows that even with the advantages Internet posses, there are still setbacks involved in the internet which is the aspect of dependency on central authority. It is almost, if not impossible for a transfer to occur without the presence of a central authority. This brings in unreliability in the accounting aspect because a central authority is the confirmer of any transfer. What if there is a liquidation of that authority, what happens? does it mean transfer won't be efficient anymore? this is why the platform called BUMO backed with block chain that focuses with decentralization is here to change and fill the empty spaces internet couldn't fill.
What Is Bumo?
Bumo is a platform that allows the free movement of values from one entity to another. It entails building a trust network where sending and transferring of values would be done directly without the interference of any authority. Such sending and receiving is processed through the means of smart contract that prevents fraudulent activities and delay experienced when there is involvement of middle man. Bumo goal is to unify several devices together to have a joint network that will bring about efficiencies when it comes to sending and receiving.
Bumo creates a mechanism where several different kinds of assets can be actually tokenized or be displayed as a value for transfer. The BU token is used to stabilize the workings within Bumo platform where this token serves as the currency for the economy in bumo. This token establishes the idea of a con census in a blockchain.
Basic Features of Bumo
Bumo is highly fast when it comes to transactions due to it attributes of no central authority. Bumo can perfom close to 10 thousand transactions per second which entaiks both sending and receiving.
Bumo brings in digitization into the assets where they have digital assets which are tokenize.
Bumo uses the smart contracts that allows a direct contact with both parties which shows a level of freedom.
In conclusion, Bumo has the efficiency when it comes to sending and receiving values.
For More Information Visit the Links Below
Bumo White paper
Bumo Technical Paper