A ‘Cryptocurrency’ Without a Blockchain Is Eating My City
The Toronto-based startup’s origins lie in a Facebook group created by founder Emily Bitze in 2013. It began as an insider-y scene of young people bartering used stuff—the cardinal rule was “no money allowed in this zone.” The group soon exploded into having more than 60,000 members in the Toronto area alone, with spinoffs in numerous cities.
Bunz was a critical entry point for many newcomers to a secondhand market for furniture, knick-knacks, food, and whatever else. People made friends, found housing, and formed bands through the Facebook group and its many offshoots.