BitAsean Whitepaper

Abstract

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.

Additionally, by resisting the currently popular practice of distributing coins through an Initial
Coin Offering (ICO), BitAsean is compliant with US SEC guidance on ICOs. Instead of an ICO our
approach is to get BAS into as many hands as possible, near term, in real world commerce through
distribution methods which will incentivize business and consumer end users, thus building a network
effect and token value through actual usage

BitAsean Website
BitAsean Whitepaper

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