BIUT is a fully peer-to-peer electronic trust system, a system-level trust solution based on blockchain and algorithms. It ensures that both parties in an online transaction can successfully complete the transaction through algorithms without needing to go through centralized institutions. BIUT solves the critical challenge of trust reconstruction in new economic and financial areas such as social e-commerce, sharing economy, P2P, crowdfunding, and crowdsourcing; it is the inevitable path for developers, merchants, and users to open the door to the digital economy.
Uses of BIUT: payments, proof of mining rights, transaction collateral, market access fees, dispute arbitration fees, etc.