Bit Trust System BIUT
DescriptionBitcoin ensures the permissionless trust of one-way transfer, while BIUT ensures the permissionless trust of dual-way trade. The trust of Token transaction can be ensured through smart contract, and yet it cannot decentralized the transaction when combined with legal currency, assets under the chain, commodity and service, as there is still not effective resolution to accomplish the trust in decentralized trade. BIUT is an electronic trust system which is fulfilled through point to point technology, as the first systematic trust resolution based on blockchain and algorithm, and it can ensure that both sides to reach the transaction through the algorithm without decentralization institutes as the intermediacy. BIUT address the key problem in the reconstruction of trust in social e-commerce, sharing economy, P2P, crowd-raising, crowd-sourcing, and other new economic and new financial fields, as an inevitable way for developers, merchants and users to usher into the stage of digital economy.