What Is the Bali Token (BLI)?

The Bali token (BLI) is the platform's utility token that can be used to help restaurants, hotels, transportation, and various other tourism segments rise. The Bali token is mainly for the Bali World Crypto Center (BWCC) project. The whitepaper states that Bali Token Global serves as a holding company for the businesses of the Bali token and is an Indonesian organization.

As per the website, 80% of the tourism in Bali shut down due to the COVID-19 pandemic. All villas and hotels were completely closed, thereby eliminating job opportunities for many people. The key intention of introducing Bali tokens was to help the economy of Bali and all its workers and to help strengthen the government at the time of the pandemic.Therefore, the Bali token ecosystem aims to support every token holder of BLI so that the country could be brought back to its usual condition. The Bali token aims to assist the Indonesian government by bringing 50 trillion in funding via tokens (BLI).

The BLI token aims at developing its own blockchain, acting as a bridge for every blockchain platform. The blockchains can interact with the Bali blockchain using the decentralized exchange (DEX) platform. Moreover, the token intends to create its own e-commerce market wherein all the products are Balinese, thereby helping small and medium-sized firms (SMEs).

Bali (BLI) uses Binance smart chain (BSC) technology and is easily recorded by BSCscan for tracking all the transactions. BLI is a BEP-20 token, a standard that enables users to deploy cryptocurrencies on BSC, helping with instant transactions.

Users can utilize the token for discounts in education, taxi rides, hospitals, hotels, water sports, property, and other various transactions. The token claims to provide users with protection against fraudulent activities. Users can use BLI as a discount voucher token at the time of their stay in Bali in any hotel, tourism spot, or restaurant, and also for shopping.

History of the Bali Token (BLI)

The public trade of BLI tokens began on August 11, 2021. The developers of the Bali token have numerous years of expertise in blockchain technology. The core developers belong to the GoldCoin foundation that began in 2013. Alexander Amalo, the blockchain developer of Ethereum network, is the cofounder of Bali coin. The total supply of BLI tokens is 900 trillion.