Crypto tokens are getting increasingly popular worldwide. An Ethiopian start-up company recently partnered with Billbitcoins to create a crypto token-based payment processing platform. The service will help users transfer payments across the country.
An Alternative to Traditional Banking
Blockchain pioneer and HashCash CEO, Raj Chowdhury, explains, ”Fund mobilization through digital assets is a disruptive concept powered by blockchain and reserves the potential to replace banks on many levels. This project presents one such instance.”
Billbitcoins is a digital assets payment processor from HashCash Consultants. The product is ideal for capital transfer in several countries. Platforms using the Billbitcoins technology include finance organizations, marketplace apps, and fintech solutions.
The Role of Billbitcoins
“The domestic fund transfer project is a powerful concept that incorporates most functionalities of a bank sans the ordeal involved in the process and at a fractional charge,” said Chowdhury.
Billbitcoins will provide their crypto token processing software for the Ethiopian fintech project. Fund transfer from one corner of the country to another will take mere seconds. The project will empower people without access to banks.
On completion, authorized shop owners will be able to accept and convert fiat into crypto tokens. These converted tokens can be easily transferred through apps. Recipients can use the crypto tokens for further purchases. They can also convert them back into conventional fiat currencies at post offices or kiosks, for a little fee.
Project Implementation Targets
“Billbitcoins is to help design the kiosks and build authorized converter and user applications”
The project requires the setting up of kiosks and interfaces for both shop owners and users. Deployment for the project is scheduled to begin in September 2021.