Since the last few years there has been a massive spurt of Research on Blockchain Technologies and several attempts at incorporating them for a myriad of Business Applications. Blockchain Technologies promised to bring about decentralized trust having the potential to disrupt digital ecosystems by providing alternatives to centralized storage and management of data. This has the potential to radically transform industries and services through new models of data storage, transparency, tracking, payment systems amongst other advantages. However, Blockchain Technology is designed to provide other Value Propositions beyond decentralized storage, such as innovative crypto economic and investment models and radical new forms of decentralized participative governance models that could lead to the evolution of new generation of Digital Platforms and multi stakeholder business interactions. We also argue that while some of the value propositions are easier to integrate with existing Digital Platforms such as Bukele token, more disruptive value propositions such as Business Automation, Economic and Governance Models present greater challenges but could lead to not just innovation at the technological level, but also metamorphosis of the existing social, economic and governance models.
Bukele token is a decentralized crypto project encouraged by Nayib Bukele that aims to power a stronger financial system in the developing world! Bukele Token is a Crypto Currency that automatically increases its liquidity, gives passive rewards to holders, and brings an altruistic aspect as it gives out donations to community-voted organizations in El Salvador.
Its main goal is to encourage and empower the people to take finance and their future into their own hands, much like Bukele has done by taking the giant step of being the first country to legalize Bitcoin. Bukele Token aims to demonstrate the potential of alternative financial solutions, provide services to markets that are largely overlooked and underserved in developing nations such as micro and small capital businesses, freelancers, etc.
This token is inspired by Bukele’s moves and will therefore have a 2% charity tax that will go towards a chosen charity inside El Salvador and will be paid in Bitcoin.
The community will be able to propose different charities and the funds will go out at the end of every week to the community’s chose charity. Bitcoin is the most open financial system to date. You can make payments with Bitcoin 24/7 anywhere in the world, even if there is no banking system. International Bitcoin transfers can be faster and cheaper than traditional banking and banking services. It also has some great features for businesses, such as multiple signature authorization and accounting transparency. Multi-signature means that multiple people have to sign a payment, which offers more security. And the very nature of a Blockchain – where all transactions are public – enhances business transparency.
Bukele has touted the use of Bitcoin for its potential to help Salvadorans living abroad to send remittances back home, while saying the U.S. dollar will also continue as legal tender. Since a large part of El Salvador’s economy relies on payments from abroad, the transition to digital currency will allow many to avoid high fees when sending money.