The world has 3 billion unbanked people living and working in hundreds of countries. Each of them is constrained from making a better life for their families by a lack of financial resources. Most of them have mobile phones, which can provide a channel for simple banking services that could unlock their economic potential.
Phone minutes have become a default mobile commerce currency because phone minutes are:
Facilitating small businesses in emerging markets by providing a universally accepted currency unlocks the wheels of commerce, multiplying the rate at which “money” flows from wealthy to developing economies via remittances, and throughout local markets.Why a BitMinute, not a BitCoin?
A Bitcoin can be used to buy products and services, but it is not universally accepted nor convertible into developing currencies. (and selling a Bitcoin may trigger a taxable event in some countries!) We have watched and learned from the ongoing BitCoin story, and turned those lessons into BitMinutes, transferable prepaid minutes that better meet the financial needs of 3 billion un-banked and under-banked people. Find out more about the BitMinute story, and how to join our venture: Contact us.