What’s up everybody WAJAHAT is here with another exciting blog on Bitbose. The evolutionary process not only changes man but also the surroundings over the time. In the early times, man was used to be a hunter who had not store his food. Agriculture and human settlements gave rise the need of store value for the future use. In a little while, the currency used to be store as a value which also used for the exchange purposes. There was also a need to store the value at the safe place which gave rise the development of banks to keep the value away from any theft. With the time, banking system getting evolved and start giving loan to people with the interest by using the stored money. It became the finance organization who worked as the economic system of the government, exchange platform to trade different currencies and served as investment department. Now a days, banks publically involved in the value market and account sales to safeguard their edge while putting the depositors into risk. It is also apparent that the banks started to purposely sway the markets according to their interests. This arises the banking crises that destroy the banking sector which collapse under the pressure of leveraged loans and expand it. at this time, cryptocurrency and the blockchain play a role of alternative fiscal system which are more transparent, popular and more moneymaking which in a very short time take the position of the trustworthy network. From to that onwards, many blockchain oriented applications have been created which play as the investment platform.
The BitBose is the one which worked under the same strategy. It has three constituent bitbose exchange, bank and smart portfolio which are entirely consolidated at the backend and show the modules as a frontend to the consumers. The increase infiltration of the internet to the remote regions around the world has assist banks elevate their range and products contribution predominately unbanked countryside areas of the world. At the same time, it show to be the blessing for some, but for others it was malediction for others. Highly developed financial products were made accessible to the simple people who have formerly not have access to the banking services in their whole life. Many were impressed by the sophistication of the banking system while some don’t even have the slightest idea about the banking products. Bank spend a lot on their security but still they are on the edge of the hacking attacks. Centralization process make it vulnerable to security threats. The appearance of blockchain and dispersed ledger technologies have issue a ready solution that can be rapidly executed to direct the banking operations and depositor funds and make it possible to bringing it back to its real keeper. To create the bank on blockchain which is directed by the decentralization process used the value token to power transaction. The blockchain ledger is an entirely transparent ledger where anyone have the approach to check the record of transaction history.
Website link:
https://www.bitbose.com/
Whitepaper link:
https://s3.amazonaws.com/bitbose-documents/Update+bitbose+whitepaper-1.pdf
