Bee Cryptocurrency – Could it be the future of payment?

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What if the currency you used to purchase goods and services wasn’t actually

currency at all? What if the coins, banknotes, and cardboard or plastic cards

you used were nothing more than tokens that indicated your exchange of value

– rather than the exchange itself? Well, this futuristic concept is closer to reality

than you may think, thanks to a little-known cryptocurrency called Bee Coin. An

alternative to traditional currencies such as the dollar, pound, and euro, Bee Coin

What is Bee Token

Bee Token is a utility token that is designed to give renters an economic incentive

to use decentralized applications. In other words, its creators hope that it will become

part of a more comprehensive business model for decentralized apps: not just for

serving ads and paying hosts but also for providing value-added services like insurance.

Furthermore, Bee has been designed from day one with regulatory compliance in mind

. The project is based in San Francisco (more specifically, in California), and key members

of its team have experience working with financial regulators at all levels—from the

California state government to the U.S.

What are BEE Tokens used for

The Bee Token has two primary functions: first, they are used as a medium of exchange

to pay for goods and services within beer and on any other platforms that accept BEE.

Second, BEE tokens act as a stake in The Bee Token’s underlying platform that lets you

earn real returns for holding them. To do so, The Bee Token will collect a monthly rental fee

from hosts who list their properties on Airbnb-like decentralized apps built on top of its

platform. This fee is then redistributed to all BEE token holders based on how many tokens

they hold.

How does the Bee Token Market Work

The Bee Token is not a cryptocurrency per se, and it will not have a blockchain.

The BEE is an Ethereum ERC20 token that you can trade on exchanges. What

makes BEE so valuable is its connection to Beenest, our home-sharing platform.

In order to join that platform, you need to purchase BEE using Ether from an

exchange. This guarantees that there are sufficient amounts of tokens available

for users who want to participate in rent bidding or buy hosting services with them.

You cannot send Bee Tokens directly from one user to another without using ether

as an intermediary; Beenest takes a small transaction fee when users swap ETH for

BEE and back again, so buying directly from someone else are not allowed by design.

Is there an incentive to use Bee Tokens as opposed to regular fiat currency

In any currency, there’s an incentive to use that particular currency over another

currency because of a good or service that can only be obtained with that particular

currency. This is what gives value to any form of money. For example, in order to see

a movie at a theater, you need dollars to buy your ticket. You can’t use euros or pounds

(among others) to pay for your movie ticket in the U.S., therefore there’s an incentive for

you to use dollars (i.e., demand). The same principle applies to Bee Tokens; we offer goods

and services with our tokens and since they can only be purchased with Bee Tokens we

have created demand through our own exchange platform.

Who Can Use The BEE ecosystem?

We can think of several different groups that can benefit from adopting BEE as a

payment method. First, international businesses who require payments from

multiple countries can potentially cut down on transaction fees by paying in BEE

. Businesses also benefit by not having to purchase a second currency for their

foreign customers. And if merchants already accept cryptocurrency as payment,

why not use an entirely new form of cryptocurrency instead of converting it to bitcoin

or another coin at a loss? Merchants simply exchange traditional fiat currency for

crypto-BEE and customers pay them with crypto-BEE. They could then choose to

hold onto their coins or convert them back into traditional fiat currency.

What is Fast Access Blockchain Layer (FAB)?

The Fast Access Blockchain Layer or FAB is software that has been made to give

people easier access to Blockchains. The tool would connect everyone with

everyone and make it easier for businesses to accept cryptocurrencies as payment.

In fact, any device with an internet connection can use FAB. It doesn’t matter if you

have an Android phone or a Windows computer. As long as you have FAB, your device

will work with any cryptocurrency on its network.

It’s Free To Register An Account On The Bee Protocol Website!

One of my favorite things about Bee is that they’re creating a cryptocurrency, but

at its core, they’re really just creating a payment protocol. The protocol itself is open

source, meaning anyone can use it to build their own service and charge whatever

fees they want for it. No one will have to trust them with their money and everyone

can verify everything on a blockchain. Plus, because all transactions will use BEE tokens

(which are ERC20 tokens built on top of Ethereum), there won’t even need to be any

transaction fees aside from those charged by your wallet provider or exchange.

How can I get started with Bitcoin and Ethereum?

Bitcoin and Ethereum are two of today’s most prominent cryptocurrencies, but

getting started with them isn’t necessarily intuitive. Here are some resources to help

you learn about and get started using Bitcoin and Ethereum for your everyday

purchases. If you have any questions then please leave them in the comments below!
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