What is Bata (BTA) – Crypto Beginner’s Guide
Introduced in 2015, Bata is a decentralized, blockchain-based platform that aims to create new system of commerce based on barter, and aims to create new jobs for an information-based economy. The word “Bata” stands for Barter And Trade Alternative. Its coin, BTA, is a cryptocurrency that its developers intend to use to replace trade dollars. Trade dollars are essentially cash, are the form of currency that is used in traditional barter systems. Ultimately, Bata aims to change the way people all around the world trade, by introducing bartering to blockchain technology.
Bartering is a means of acquiring products and services; it helps people exchange and transfer money. There are no limits to bartering, and it can be conducted both on a large scale and a small one. Management is often conducted by a member-only association, which provides credit to the channel of exchange, typically in trade dollars; Bata aims to take away these member-only associations, and make bartering an available means of trade to anyone and everyone.
Bata’s vision is to break away from the current system of debt-based money. It has replaced the trade dollar with BTA and has re-invented barter currency with a blockchain-based, decentralized, secure, and widely available crypto coin. Trade dollars typically are controlled and issued by central parties that hold on to all control of the money, and Bata provides the opportunity for individual users to take over that control.
Bata’s Barter Platform
The barter platform that is provided by Bata aims to represent a transformative vision of commerce. By providing unique interfaces, tools, and features that remove pain points for sellers and buyers, the platform redefines the way that people purchase goods and services. Users will be able to more easily participate in bartering as a means of trade, which adds new levels of incentives in a unique way. Bata aims to build up an entire trading community around its Exchange and Marketplace.
The Bata Coin (BTA)
The Bata Coin is the cryptocurrency that was developed with the intention of replacing the trading dollar in traditional barter systems. BTA is Bata’s internal form of cryptocurrency, and as the platform continues to be developed, BTA will be listed on major crypto exchanges so that users will have a way to originally obtain the coin. The main difference between BTA and other cryptocurrencies is that it will replace trade dollars, and its main function is to be utilized during bartering, an action that will mainly take place on Bata’s platform.
BTA operates on a Proof of Work/Proof of Stake hybrid algorithm, and on top of obtaining the coin on exchanges, users will be able to hold the coin in downloadable wallets from the Bata platform, and will be able to participate in mining.
While Bata is still in early development and is currently working on its whitepapers and roadmap, it hopes to change commerce for the better and to completely replace trade dollars with a viable alternative to the traditional barter system. The BTA coin is currently and actively being developed. By introducing bartering to the blockchain, Bata may completely revolutionize the way we trade.