BTU Protocol BTU White Paper

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Hello and welcome to this blog post about BTU Protocol BTU White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.

There is a lot to learn about this futuristic tech, lets get started to dive into the BTU Protocol BTU white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

The aim of this blog post is to help you quickly understand about the philosophy behind the BTU Protocol (BTU).

I can ensue you that, you will be able to understand every bits and pieces related to BTU Protocol (BTU) after going through the BTU Protocol BTU white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

BTU Protocol BTU White Paper

BTU Protocol BTU white paper will be going to provide you, all the information that is needed to get started with BTU Protocol (BTU), including the inspiration for creating, the problem it is trying to solve and the solution proposed by BTU Protocol (BTU).

Abstract

“ Our mission is to create an open source standardized decentralized booking protocol along with reference implementations that can be leveraged by participants in industries such as hospitality, travel, finance, healthcare, retail, automotive and more.

The Booking Token Unit (BTU) protocol is a building block for any decentralized application (dApp) or web site willing to implement booking features for their end-users. This standard also brings interoperability among decentralized applications that incorporate it.

The BTU protocol is being standardized as ERC-808 and requires the use of the Ethereum-based BTU token. The purpose of the BTU Token is to incentivize proper behaviors such as rewarding successful bookings and enforcing late cancellation and no-shows policies.

All applications implementing the BTU protocol would benefit from a hybrid approach that combines an on-chain smart contract and off-chain software components, providing more scalability.

Finally, a transparent and public inventory enabled by an open-source protocol would considerably lower the entry barriers into the online booking markets.”

White Paper Link: BTU Protocol (BTU) White Paper

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