Hello. 👋🏻 Today we will tell you about the principle of openness and transparency in the BUMO project.
The modern banking system is closed from all eyes and provides absolutely no transparency. This cannot continue all the time and that is why the DeFi industry is so popular.
🔗 Using blockchain technology, BUMO provides users with maximum transparency and openness. Absolutely any transaction can be verified and it can always be viewed with a hash.
🔗 Blockchain is a technology that eliminates intermediaries (using smart contracts) and reliably transfers value between two parties to a transaction over computer networks. The transaction is written to the publicly available distributed ledger as time blocks. The value of assets is presented as a digital currency that can be used as a means of payment.
🔗 All trading parties can enter the blockchain. The distributed ledger has such important properties as the immutability of records and the ability to automatically execute business rules, which provides excellent automation. In addition, smart contracts are fraudulent due to their architecture.
Find out more about our platform and its capabilities: https://bumo.io/
