Senegalese-America award winning artist Akon through his digital currency Akoin has banded together with BitMinutes to carry banking to the unbanked spread across different economies of the world.
The organization comes after the official dispatch of the Akoin digital money. Akon’s holding hands with paid ahead of time broadcast appointment token, BitMinutes, is to help enliven his banking the unbanked vision.
In Africa and over the world, a large number of individuals are as of now without access to the financial framework and this presents a gigantic open door for more current and progressive monetary items planned for settling the heaps of difficulties.
For locales, for example, Kenya, portable cash has developed to be a noteworthy market and as yet developing hugely across countries attributable to restricted access to budgetary items.
The association with the two associations as per COO of Akoin, Lynn Liss, will see to handling the difficulties and empower clients to execute utilizing money related models they know about.
She went further saying, “Our relationship with BitMinutes provides the cornerstone for how we achieve our shared vision for bringing financial inclusion to rising economies such as Africa; starting with prepaid minutes as a medium of exchange was a clear pathway for us given the store of value people in Africa already recognize there, and is the first step in bringing more users into our blockchain-based economy we’re developing at Akoin.”
The BitMinutes application is according to Tom Meredith, the CEO of BitMinutes, is not only practical, but intuitive for these regions… Leveraging this growing store of value already found in prepaid minutes, BitMinutes expanded services also include micro-lending where prepaid minutes serve as collateral. Trusted Area Network (TAN) agents are highly vetted and become BitMinutes micro-lending agents, in addition to providing cash in and cash out services to those using the platform.”
Akoin holders will be able to swap a portion of their akoins to BitMinutes to enjoy all the features that the new dapp to be launched soon on the Stellar-powered blockchain has to offer.
“BitMinutes will offer Akoin holders free money transfers to 1.2 billion accounts across Africa and free mobile top-up for four billion mobile phones. The firm will also provide access to prepaid airtime capabilities and micro-lending and “cash in/out services.” – Lynn Liss.