BitAsean – a decentralized digital currency for use in commerce on a peer-to-peer Basis Whitepaper
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BitAsean is a decentralized digital currency for use in commerce on a peer-to-peer Basis, facilitating both Business-to-Business (B2B) and Business-to-Consumer (B2C) transactions and settlement. BitAsean was originally launched June 3, 2017, and is the first digital currency developed in the ASEAN region. BitAsean is not owned by any single entity or party. Rather, it is a digital currency obtainable through means of exchange by anyone who chooses to accept and/or spend it. It uses the mechanism of a fully decentralized ERC-20 protocol token (BAS) on the Ethereum blockchain. As such, it can benefit from the innovation, utility, and security of the battle-tested Ethereum smart contract platform and virtual machine. Our team has studied the needs of commerce and remittance throughout the ASEAN region and developed BAS to be useful across a number of diverse use cases which serve to alleviate some of the inefficiencies of small business, direct-to-consumer merchant sales, and supply chain.