What is BlueBit?

Can you explain to me what BlueBit is, in simple terms? I've heard of it being mentioned in the cryptocurrency space, but I'm not entirely sure what it is or how it works. Is it a new type of cryptocurrency? A blockchain platform? A decentralized application? Or something else entirely? I'm looking for a clear and concise definition that will help me understand the basics of BlueBit and its role in the crypto ecosystem.