BEM: An Economic Token Empowering Blockchain Entrepreneurship and the Digital Ecosystem

What is BEM

Friends, imagine we live in a digital world where many transactions and interactions happen online. The BEM project, short for Best Economic Money, is like an “economic skyscraper” and a “financial toolbox” in this digital world. Initially, it appeared as a digital token called BEMT (Best Economic Money Token), which acts as the “universal currency” within this skyscraper. It is built on the Tron blockchain, inheriting Tron’s fast transaction speeds and low fees.

The main goal of the BEMT token is to provide a special payment and incentive method for various entrepreneurship and employment projects. You can think of it as the “points” or “vouchers” you earn, enjoy services with, or get discounts when you participate in entrepreneurship or gaming projects supported by the BEM Foundation.

But BEM’s ambitions go further. Its ultimate goal is to build its own dedicated blockchain, called BEMPIRE. The BEMPIRE blockchain is like the BEM Foundation building its own “digital city,” with its own rules and infrastructure, specifically designed to support games, entrepreneurial projects, network marketing, and other applications. At that time, the original BEMT token will be upgraded to become the native currency of this new “digital city,” possibly called BEMC (Best Economic Money Coin) or simply BEM.

In short, the BEM project aims to provide a secure and reliable platform through the BEMT token and the future BEMPIRE blockchain, allowing people to participate in various economic activities such as gaming, entrepreneurship, and network marketing, and earn income through these activities.

Project Vision and Value Proposition

The vision of the BEM project is to build a vibrant “digital economic ecosystem.” Its core mission is:

• Create employment and entrepreneurship opportunities: The BEM Foundation aims to provide suitable and secure employment and entrepreneurship platforms in the blockchain field. Through smart contract technology (think of it as automatically executed digital contracts), they create various platforms where participants and enthusiasts can earn money using BEMT tokens.
• Address network marketing pain points: Especially for network marketing projects, the BEMPIRE blockchain aims to solve issues in traditional models such as delayed commission payments and complex banking relationships, enabling companies to expand internationally more easily.
• Provide a secure and reliable environment: The project emphasizes the stability of the workspace, soundness of job types, security against policy changes, safety of payments and commission deposits, and protection of participants’ investments and holders’ assets.

Compared to similar projects, BEM’s differentiator is its clear focus on entrepreneurship, employment, and network marketing, and its plan to provide a specially optimized solution through its own BEMPIRE blockchain. It is not just a token, but a grand plan to build a complete ecosystem.

Technical Features

Technically, the BEM project can be divided into two phases:

BEMT Token Phase

The BEMT token was initially issued as a TRC20 standard token on the Tron blockchain.

• TRC20 token: Like Ethereum’s ERC20 tokens, TRC20 is a token standard on the Tron blockchain. This means BEMT tokens can leverage Tron’s high transaction speed and low transaction costs.
• 6 decimal places: BEMT tokens, like TRX, support 6 decimal places, allowing for precise microtransactions.

BEMPIRE Blockchain Phase

The BEM Foundation’s ultimate goal is to launch its own dedicated blockchain—BEMPIRE. This is like moving from renting someone else’s house (Tron) to building their own (BEMPIRE), allowing for better customization of features.

• EVM compatibility: The BEMPIRE blockchain will be compatible with the Ethereum Virtual Machine (EVM). This means developers can easily migrate their Ethereum smart contracts (think of them as blockchain mini-programs) to BEMPIRE or use familiar tools for development, greatly lowering the development threshold.
• Proof of Authority (PoA) consensus mechanism: BEMPIRE will adopt the PoA consensus algorithm.
  • What is PoA? Imagine a village where not all villagers participate in decision-making, but a few respected “authorities” maintain order and keep records. PoA works like this; it doesn’t rely on massive computation (like Bitcoin’s PoW), but on a few pre-selected, reputable nodes (“authorities”) to validate transactions and create new blocks.
  • Advantages: This mechanism usually achieves very high transaction speeds and extremely low fees, as it doesn’t require global competitive mining.
  • Disadvantages: Compared to PoW or PoS, PoA is less decentralized because it relies on a small number of trusted validators.
• Support for DApps, DeFi, NFT, etc.: BEMPIRE aims to support various decentralized applications (DApps), decentralized finance (DeFi) projects, NFT marketplaces, on-chain games, wallets, and trading platforms.

Tokenomics

The tokenomics of the BEM project mainly revolve around the BEMT token and its evolution into the future BEMPIRE native token:

BEMT Token Basic Information

• Token symbol: BEMT.
• Issuing chain: Tron blockchain, TRC20 standard.
• Total supply: Initial total supply is 50,000,000 BEMT, but after burning, the self-reported circulating supply is 30,000,000 BEMT.
• Issuance mechanism: BEMT was issued through a presale (20 days) and public sale (5 months), starting from November 8, 2020.
• Inflation/Burning: The project has a token burning policy. For example, after the public sale period, all unsold tokens were burned for market management and investor protection.

Token Utility

BEMT tokens play multiple roles in the current and future ecosystem:

• Payment and incentives: In entrepreneurship, employment, and gaming projects supported by the BEM Foundation, BEMT is used as the payment currency and incentive method for participants.
• Membership and discounts: Holding BEMT grants membership and discounts for BEM Foundation services.
• Governance: In the future BEMPIRE blockchain, BEMT will serve as a governance token, allowing holders to vote on protocol upgrades and governance decisions.
• Conversion: Once the BEMPIRE blockchain is launched, BEMT tokens can be exchanged for BEMPIRE’s native token (BEMC or BEM) at a certain ratio.

Token Allocation and Unlocking Information

Detailed allocation ratios for BEMT (such as team, community, ecosystem, etc.) are not specified in public information, but it is mentioned:

• Presale and public sale: Initial issuance was conducted through these two phases.
• Marketing and promotion: 3,000,000 BEMT tokens were used for the BemStake project to incentivize investors to stake tokens and promote BEMT.

More detailed tokenomics for the BEMPIRE native token (including ICO amount, monthly burn rate, airdrop plans, etc.) will be revealed when BEMPIRE is officially released and its whitepaper is published.

Team, Governance, and Funding

Team

The BEM Foundation consists of experts with years of experience in cryptocurrency, blockchain programming, and marketing.

• Anonymous team: To adhere to the decentralization principle of blockchain and enhance project security, the core team members’ identities are not disclosed. This is not uncommon in the blockchain space, but it does mean higher uncertainty for investors.
• Global presence: The BEM Foundation was established in Armenia in 2020 and set up its first official office there in 2021. As the project developed, they also opened an office in Istanbul, Turkey, and plan to set up a support office in Dubai before 2024 to expand their global influence.

Governance

After the BEMPIRE blockchain goes live, BEMT will serve as a governance token. This means BEMT holders will have the right to vote on BEMPIRE protocol upgrades and major decisions, participating in the project’s decentralized governance. It’s like token holders becoming “residents” of the “digital city,” able to voice opinions on its development direction.

Funding

The project’s initial funding comes from the presale and public sale of BEMT tokens. Specific details about the BEM Foundation’s financial reserves (runway) and financial reports are not clearly mentioned in public information. Future development and ecosystem building for BEMPIRE will also be supported through token sales and allocation.

Roadmap

The BEM project’s roadmap can be divided into completed and future plans:

Historical Key Milestones and Events

• 2020:
  • BEM Foundation established in Armenia.
  • BEMT token issued on the Tron blockchain, with a 20-day presale and 5-month public sale (starting November 8, 2020).
  • After the public sale, unsold BEMT tokens were burned.
• 2021:
  • BEM Foundation set up its first official office in Armenia.
  • Launched BemChain as the BEM Foundation’s launchpad, playing an important role in the foundation’s development.
  • With BemChain’s active users exceeding 25,000, the foundation opened a second office in Istanbul, Turkey.

Future Key Plans and Milestones (BEMPIRE Roadmap)

• Phase 1: Foundation and Development (completed or ongoing)
  • Project concept and whitepaper: Draft the BEMPIRE blockchain whitepaper, outlining vision, technology, and use cases.
  • Team building: Assemble development, blockchain experts, marketing, and community management teams.
  • Initial funding and token sale: Raise development and marketing funds through token sales.
  • Testnet launch: Deploy the BEMPIRE testnet for developers to test and provide feedback, and integrate with MetaMask wallet.
• Phase 2: Core Blockchain Development (upcoming)
  • Proof of Authority (PoA) blockchain development: Develop the core infrastructure of the BEMPIRE blockchain using the PoA consensus algorithm, and establish trusted academic institutions as initial validators.
  • Token smart contracts: Create smart contracts for the native token (BEM), validator rewards, staking, and burning mechanisms.
  • BEMT governance token development: Introduce the BEMT governance token with voting functions for protocol upgrades and governance decisions.
  • BRC-20 standard implementation: Follow the BRC-20 token standard to be compatible with existing DeFi platforms and exchanges.
• Phase 3: Ecosystem Expansion and Testing (upcoming)
  • BEMPIRE mainnet launch: Officially release the BEMPIRE mainnet to the public.
  • Stability and security audit: Conduct comprehensive security audits to ensure the robustness and safety of the BEMPIRE blockchain.
  • BEM-ETH liquidity pool and bridge: Implement BEM-ETH liquidity pools and cross-chain bridges to encourage liquidity provision and seamless token swaps.
  • Marketing and promotional activities: Launch comprehensive marketing campaigns to promote the BEMPIRE blockchain.
  • Community development grant program: Launch grant programs to support community-driven projects and foster a vibrant ecosystem.
  • Dynamic upgrades and improvements: Continuously carry out technical upgrades and optimizations.

Common Risk Reminders

Investing in any blockchain project comes with risks, and BEM is no exception. Before considering participation, be sure to understand the following common risks:

• Technical and security risks:
  • Challenges of a new blockchain: As a new blockchain, BEMPIRE faces uncertainties in technical stability, security, and whether it can withstand real-world operation. Although security audits are planned, new systems may always have unknown vulnerabilities.
  • PoA centralization risk: While Proof of Authority (PoA) consensus is efficient, it is less decentralized, with limited validators, which may pose potential centralization risks such as validator collusion or attacks.
  • Smart contract risk: Any smart contract may have code vulnerabilities that, if exploited, could lead to asset loss.
• Economic risks:
  • Market volatility: The cryptocurrency market is known for its extreme volatility. The price of BEMT tokens may be affected by various factors, including market sentiment, regulatory changes, and project progress, possibly resulting in significant price swings.
  • Competition risk: The blockchain field is highly competitive, with similar projects emerging constantly. Whether BEM can stand out and realize its vision is uncertain.
  • Liquidity risk: If token trading volume is insufficient, it may be difficult to buy or sell tokens when needed.
  • Dependence on future development: The value of BEMT largely depends on the successful development of the BEMPIRE blockchain and the establishment of its ecosystem. If these future plans do not materialize as expected, the token’s value may be affected.
• Compliance and operational risks:
  • Regulatory uncertainty: Global cryptocurrency regulations are still evolving, and future regulatory changes may impact BEM’s operations and the legality of its tokens.
  • Team anonymity: The core team members’ identities are not disclosed. While the project claims this is for decentralization and security, it increases uncertainty in transparency, and accountability may be more difficult if issues arise.
  • Insufficient information disclosure: Some key information, such as detailed token allocation, fund usage, and financial audit reports, may not be sufficiently detailed in public materials, increasing information asymmetry risk for investors.

Please remember: The above information is for reference only and does not constitute investment advice. Be sure to conduct thorough independent research and consult a professional financial advisor before making any investment decisions.

Verification Checklist

To gain deeper insight into the BEM project, you can verify and research through the following channels:

• Block explorer contract address:
  • BEMT (TRC20) token: You can search for BEMT’s contract address on Tron block explorers like Tronscan to view its transaction history, holder distribution, and total supply.
• GitHub activity:
  • Visit the BEM Foundation’s GitHub repository (e.g., BemFoundation/BEM) to check code update frequency, number of contributors, and whether there is an active development community. Code activity often reflects project development progress and health.
• Official website and social media:
  • Visit the BEM Foundation’s official website (if you can find the latest and active one), as well as its Twitter, Telegram, Facebook, and other social media platforms. Follow official announcements, community discussions, and project updates.
• Whitepaper and documentation:
  • Try to find the latest official whitepaper and technical documentation for the BEMPIRE blockchain. Reading these documents in detail can help you understand the project’s technical details, economic model, and future plans.
• Audit reports:
  • If the project claims to have undergone security audits, look for and read audit reports published by third-party organizations to assess the security of smart contracts and the blockchain.

Project Summary

The BEM project (and its BEMT token) presents a grand vision to build a digital economic ecosystem focused on entrepreneurship, employment, and network marketing through blockchain technology, especially its future BEMPIRE blockchain. It started as a Tron TRC20 token (BEMT), leveraging Tron’s high speed and low fees to provide payment and incentives for participants.

The project’s core value proposition is to offer a decentralized, efficient, and secure platform for traditional network marketing and emerging entrepreneurial projects, solving pain points in traditional models. It plans to achieve high throughput and EVM compatibility through the PoA consensus mechanism of the BEMPIRE blockchain, attracting developers and users. The team is composed of anonymous experts and has established offices globally, demonstrating its ambition for expansion. The future roadmap clearly outlines the progression from testnet to mainnet launch and gradual ecosystem improvement, including the introduction of governance tokens and development of various DApps.

However, as an emerging project in the blockchain space, BEM faces many challenges and risks. The complexity of technical implementation, centralization concerns of the PoA mechanism, inherent volatility of the cryptocurrency market, regulatory uncertainty, and transparency issues due to team anonymity are all potential risk factors. The project’s success will depend heavily on the smooth development of the BEMPIRE blockchain, effective ecosystem building, and broad market recognition of its value proposition.

In summary, BEM offers an interesting perspective on blockchain applications in specific economic activities. For those interested, it is recommended to study the latest official materials in depth and, combined with the above risk reminders, make independent judgments. Remember, this is not investment advice; cryptocurrency investment carries high risk.