The Bunz BTZ Digital Currency Can Be Redeemed at Physical Shops
Laura McQuarrie — April 11, 2018 — World
References: blog.bunz & prnewswire
Bunz—a trading platform that gives people the chance to barter for goods with one another—recently launched its own digital currency called Bunz BTZ, which is named after the Bunz Trading Zone and pronounced "bits."
On the platform, Bunz users commonly aim to get the most out of their trades by seeking out or offering subway tokens and gift cards, so Bunz saw a space for its own kind of cryptocurrency to be created.
Those with the latest version of the Bunz app will receive 1,000 BTZ, which can be used at more than 100 brick-and-mortar locations in Toronto, such as the Drake General Store, High 5 Curated Convenience, Reunion Island Coffee, Tiny Record Shop and more. 1,000 BTZ is equivalent to about three coffees, and the cryptocurrency can be used to purchase everything from beauty products to vinyl records.
On the platform, Bunz users commonly aim to get the most out of their trades by seeking out or offering subway tokens and gift cards, so Bunz saw a space for its own kind of cryptocurrency to be created.
Those with the latest version of the Bunz app will receive 1,000 BTZ, which can be used at more than 100 brick-and-mortar locations in Toronto, such as the Drake General Store, High 5 Curated Convenience, Reunion Island Coffee, Tiny Record Shop and more. 1,000 BTZ is equivalent to about three coffees, and the cryptocurrency can be used to purchase everything from beauty products to vinyl records.
Trend Themes
1. Community-powered Cryptocurrencies - Opportunity for businesses to create their own cryptocurrencies to encourage community engagement and increase customer loyalty.
2. Bartering Platforms - Disruptive potential for bartering platforms to integrate digital currencies as a means of facilitating trades and expanding user base.
3. Offline Cryptocurrency Usage - Emerging trend of using digital currencies for in-store purchases, providing an opportunity for retailers to tap into the growing cryptocurrency market.
Industry Implications
1. E-commerce - Opportunity for e-commerce platforms to incorporate digital currencies and incentivize customer transactions.
2. Retail - Potential for retailers to accept and promote community-powered cryptocurrencies to attract customers and increase sales.
3. Financial Technology - Disruptive potential for fintech companies to develop platforms that facilitate the use of digital currencies in bartering and offline transactions.
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