With the growing demand of digital currencies and decentralized technology, genius heads from around the world are developing varied ways to exploit the benefits of the new-age mechanisms and use them in every possible industry domain which one can think of.
The launch of BYZBIT, which takes pride in being the world’s first decentralized marketing platform for the Paper Mill Business has been regarded as a revolutionary development in the paper industry. Paper, though being widely available, is one of the most important parts of our daily routine lives.
BYZBIT is a tokenized Paper Mill Factory which aims to utilize agricultural waste and other materials in producing paper and blockchain technology in fostering a value-added business economy. Thereby, this will help in increasing production capability, efficiency, and will lead to a reduction of waste and environmental pollution. Through the introduction of blockchain-centered technology, the platform promises to support a clean and green environment in a financially productive manner.
The new platform, BYZBIT operates on Ethereum ERC-20 module, which enables exchange of value between the participants of the BYZBIT network. In which turn facilitates linkage of economic communication flow between physical and digital niches, fostering convenient, and quicker value transfer.
As per the BYZBIT Paper Mill Factory module, the pedagogy will transform a traditional manufacturing firm into an advanced smart technology has driven manufacturing center which will render to the production of superior quality products using agricultural waste products. The firm will adopt integrated smart energy to make paper production easier and efficient in an array of ways. It will also curb the issue of interruption of operation as smart energy will be infused as smart solution for the power requirement of the process.
BYZBIT (BYT) will work as a utility token and so will lead to an increase of user base, usage demands, and adoption. A utility token can be described as a digital cryptocurrency token that is issued to support/fund development of the crypto project and also be used for purchasing goods and services in the future.
Utility tokens ensure access to a current or future product, solution, or service. When a person buys a digital token, he/she gets the right to enjoy the final product or service. These tokens render the facility to encode functionality that matches the business logic in a service or product through smart contracts.