Hashcash’s Billbitcoins to collaborate with an Ethiopian fintech startup to help design a domestic fund transfer project aimed at connecting the unbanked citizens
Global payment processing software, Billbitcoins, announces its collaboration with Ethiopian fintech. Billbitcoins is to provide the technology powering a domestic fund transfer project. Billbitcoins, a HashCash product, offers their payment processing architecture for the project targeting the unbanked community in their country. The project would make use of crypto tokens to securely transfer funds to another part of the country.
The project involves establishing kiosks and developing interfaces for authorized shopowners that accept payment in fiat and convert those into crypto tokens. The tokens are then available to be transferred via apps. The receiver can choose to directly use the coins for purchase or convert them into fiat for a nominal fee at a local post office or kiosk.
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The deployment is scheduled to take place early in September.
“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,” remarked Raj Chowdhury, CEO, HashCash Consultants.
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“Billbitcoins is to help design the kiosks and build authorized converter and user applications”
Billbitcoins, a HashCash endeavor, finds use across a myriad of platforms, including financial institutions, marketplace applications, and other fintech solutions. Billbitcoins technology is deployed extensively across five continents and has achieved a high degree of customer satisfaction.
“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,” concluded Chowdhury.
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