THELOGICALINDIAN - If we appetite to accomplish a analytical accumulation in agreement of Bitcoin some day anon we will charge a lot added use cases for accustomed consumers Despite accepting the advantage to pay bills in Bitcoin and alike accept allotment of your account allowance in BTC neither of these casework are targeting a ample bazaar area Bitcoin payments could accomplish a aberration But that is about to change acknowledgment to the efforts fabricated by Bankymoon a South Africanbased Bitcoin startup
Also read: BitBill: Paying Bills With Bitcoin
How We Pay Utility Bills Today
In the bosom of “smart” technology demography over circadian life, acquittal technologies assume appealing ancient and are advanced at a snail’s pace. It could alike be argued that the banking area has apparent the atomic bulk of addition in the accomplished fifty years, abnormally back comparing it to all added aspects of life.
In fact, payments are a bit of a “dumb problem,” as there is no accessible way to assignment about the accepted infrastructure. Bitcoin could break a lot of the accepted acquittal problems, abnormally for bodies who do not accept actual admission to a coffer account. In Bankymoon’s case, Bitcoin helps bodies pay their account bills.
Lorien Gamaroff, the Founder and CEO of Bankymoon, told Bitcoinist,
The capital affair with advantageous account bills is that a aggregation of middlemen is involved. Your bounded city channels account casework to their industrial, residential or bartering customers. But afore the bill arrives in your mailbox, it has to go through so abounding accomplishments channels, all of which allegation an added fee on top of the bulk the city receives.
Furthermore, abounding countries still await on banknote payments to achieve account bills. Using banknote can be both annoying and dangerous, as bodies accustomed banknote in accessible run the accident of actuality robbed. Even in added advantageous areas that accept admission to cyberbanking and acclaim agenda services, bodies may accidentally pay up to 17% in fees while clearing their bills.
Bankymoon’s Bitcoin Solution
Bankymoon aims to use Bitcoin to accomplish advantageous account bills a little added acceptable for bodies after admission to banks. According to a aggregation spokesperson, it will be far cheaper to achieve your account bills with Bitcoin, and it’s additionally a far added acceptable acquittal adjustment for all parties involved. Alternative agenda currencies such as Litecoin and Dogecoin will be accurate in the future.
Whether or not Bitcoin will be added acceptable for accustomed users charcoal to be seen. Obtaining a coffer annual in the western apple is actual easy, but the adventure is absolutely altered in countries like South Africa. The aggregation feels that Bitcoin can be a able apparatus in the easily of unbanked and underbanked bodies disturbing to accomplish ends meet.
Gamaroff said,
If Bankymoon can accretion traction, it plans to acquiesce for sending of gas, water, or electricity to anyone abroad on the globe. In adjustment to accomplish such a massive undertaking, they plan to cut out the remittance bazaar middleman.
Looking for Investment To Grow the Company
Bankymoon is cyberbanking on their accurate acquirement archetypal in adjustment to allure investors. Whereas added acceptable Bitcoin startups accept to await on “industries of the future”, Bankymoon wants to action a account accouterment a use case from the day it launches. It is adamantine to adjudicator whether or not this business archetypal will amplitude the minds of abeyant investors.
And advance funds is article Bankymoon hopes to acquisition eventually rather than later. According to the advice Bitcoinist has received, the aggregation is attractive at a banking bang account US$1.5m. According to a spokesperson, that funds will be acclimated to aggrandize the aggregation with added developers, and calmly sustain the acquirement archetypal for at atomic two years.
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Source: VentureBurn
All images address of Bankymoon and Shutterstock
