BUNZ expands Shop Local to promote community and sustainability

Toronto-based startup BUNZ announces it has expanded its Shop Local city networks to Hamilton, Ottawa, and Vancouver to further its commitment in promoting community and a sustainable economy. Originally introduced in Toronto in April 2018, brick and mortar retail partners in each city are now accepting BTZ (Bunz Trading Zone), the company's cryptocurrency, primarily used to trade for goods and services on the Bunz.app and at local shops. 

More than 130 million BTZ are currently in circulation. Since introducing the cryptocurrency, 35,000 trades have been completed with 15,000 of those transactions at Toronto shops, cafes, restaurants, and more. Transactions include exchanges for beer, bagels, bike tune-ups, ice cream, clothing, coworking spaces, flowers, haircuts, tattoos, vinyl, and more. In Toronto, 2 million TBZ have been used in exchange for goods by local Makers, another newly introduced sustainable initiative set to expand in coming months. 

"Hamilton, Ottawa, and Vancouver are just the beginning. We are working hard to expand Bunz Shop Local to cities across the country and beyond as the networks enable app users to buy or do almost anything using the resources they have on hand," said Sascha Mojtahedi, CEO, Bunz Trading Zone. "Local retailers are happy because they are engaging with new people. Users are happy because they are making space exchanging a household plant for a beer on a patio. An extension of the Bunz revolution, we are helping forge new connections, reducing waste by encouraging sustainable bartering and giving Canadians of all stripes the ability to buy goods and services from local shops, even when cash is short."

Bunz developed BTZ as a more flexible, secure and democratic option for bartering, to replace currencies like subway tokens and gift cards as commonly accepted alternatives to cash when a true trade wasn't possible. While there is limited amount of BTZ, users currently receive 1,000 for downloading the app and activating their wallet, up to 250 per day for completing the newly introduced daily survey, as well as allocations for engaging with the community in other ways.

One of the earliest established Bunz communities, Vancouver Bunz was founded in October 2015, with local app users now approaching 10,000. There are currently seven Vancouver retailers accepting BTZ, including a sneaker shop and art gallery, a vegan ice cream truck, and a farm-to-table-focused diner.