BitMinutes is the first prepaid airtime token to provide low-cost financial services to the world’s two billion unbanked consumers. BitMinutes serve as the universal cryptocurrency for enabling global telecommunications providers, retail merchants and a network of trusted agents to offer free money transfer and guaranteed loans to six billion cellphone users. The primary goal of Bitminutes ICO is to provide access to key financial services for over two billion unbanked worldwide.
ICO Status: Finished
Every day, billions of consumers use a virtual currency they most likely do not realize is a virtual currency: Prepaid Minutes, issued as a special purpose currency by over 300 carriers globally. The issue is that these prepaid minutes can only be used on their respective proprietary networks for either voice and/or data services (a “walled garden”). Consequently, the underbanked are limited in their access to liquid assets. Physical cash cannot easily be transferred over long distances and prepaid minutes are illiquid, i.e. lacking convertibility back into cash. The consumers stuck in this paradigm want inexpensive financial services, but traditional banks and legacy money transfer companies lack reach and affordability.
Based on international banking standards (ISO), BitMinutes solves these problems on a global basis. BitMinutes unify these proprietary currencies around a common global standard, enabling prepaid minutes transfer to 4 billion mobile accounts, and convertibility to cash as well as the potential for lending.
BitMinutes’ convertibility to cash solves the major hurdles in providing financial services to the underbanked. Consumer benefits include affordable and easy retail access to money transfer, micro-credit, and virtual MasterCard products
for e-commerce purchasing.
BitMinutes also solves structural issues in delivering these consumer services. The carriers desire to offer financial services to their customers but lack the infrastructure and data analysis tools to make underwriting decisions. For retailers, selling the BitMinutes brand of prepaid minutes greatly simplifies their need to carry multiple prepaid carriers’ products. Plus, by offering new financial services, they now become a next-generation corner banker.
BitMinutes represent a business opportunity to entrepreneurial individuals, retail merchants and telecommunications carriers to offer financial services cost-effectively. By reducing money transfer costs, adding liquidity to a major global asset class of prepaid minutes and establishing credit history for the global underbanked, BitMinutes will raise the standard of living in many countries, greatly expanding the middle class to the benefit of all.
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|ICO token Distribution:
67% - Locked Up Tokens (these will be used to meet the estimated $4 Trillion of demand for credit from the un-banked once the platform launches), 19% - Marketing, 12% - Operations, 2% - Treasury / Overhead
Total Supply = 6,800,000,000 BMT
Available Supply = 3,400,000,000 BMT
There are a substantial number of tokens that are "locked up" which will be used d to meet the estimated $4 Trillion of demand for credit from the unbanked
BitMinutes can be used to send cash and/or prepaid minutes to cellphones users and bank accounts, and can also be used as collateral for micro-loans by those same users. BitMinutes works over SWIFT and MasterCard global networks and is the first prepaid airtime token to provide low-cost financial services to the world's two billion unbanked consumers.
|Everex and Lala World are our competitors but both require the use of internet and smartphones in order to transact. BitMinutes consumers on the other hand can use basic and standard cellphones to transact their prepaid minutes, which in turn they can exchange for cash or micro-loans using the BitMinutes platform. This opens the availability to a much wider and more diverse group of unbanked consumers who are unable to access these sorts of financial services in any other way.|
Initial Coin Offering
|ICO Launch: |
30th of April 2018
1st of June 2018
ICO Tradable on Exchanges since:
still not tradable
|Platform: Ethereum (ERC20 Token)|
Team behind BitMinutes
“Deep FinTech expertise re blockchain and token development (BitMinutes) facilitating Free Money Transfer and global P2P Lending.
Smart Tokens bridge traditional settlement networks (MasterCard, SWIFT) to the emerging Blockchain networks of Ripple and Ethereum.
P2P Cash is currently expanding its worldwide network of Trusted Agents (Trusted Agent Network or TAN) . TAN solves the “”Branchless banking”” problem described by the Gates Foundation White Paper.
TAN creates financial service jobs putting a mobile banker on every street corner.
Education: Harvard Business School Stanford University- (Engineering School) Phillips Academy Andover
Specialties: FinTech start up professional specializing in financial technology applications”
Seasoned Executive leading the Finance transformation in large and complex organizations including Fortune 500. Ideated and executed multimillion dollar projects which involved SAP at the core of the transformation. Played lead role in digital transformation of the office of CFO, with simplicity as core design principle.
Head of Banking, Compliance & Foreign Exchange
Enthusiastic, detail oriented. Concentration on product management, including strategy development, workflow modeling, solution development. Head of Compliance, new regulation rules review/integration. Knee-deep in building blockchain protocol to drive costs lower and increase trade volume. Adept at becoming a primary client resource for market insight, risk management and accounting-driven hedging/execution solutions. Special interest in Emerging and Developing markets and the macro-economic effects of political and financial decisions on local economies and financial markets.
Head of Marketing
Marketing professional with over 25 years of experience: Strategic marketing and product development initiatives; new product launches, multi-channel communications programs that have generated millions of dollars in revenue growth. Strong at conceptualizing and implementing creative marketing strategies; Particularly effective at integrating and strengthening marketing and sales initiatives to maximize sales performance.
Specialties: Strategic Planning & Execution, New Product Introductions, Advertising & Public Relations, Marketing/Sales Integration, Channel & Media Partnerships, Market & Brand Differentiation, Marketing Program Management, Team Leadership & Collaboration, B2B, B2C, & Web Marketing (including SEO/SEM and user experience management)
Head of Business Development
Generating value for new businesses (startups) and new lines of business (corporations) across multiple market segments by developing and executing innovative strategies, optimizing business processes, and establishing partnerships to drive revenue growth.
Extensive experience in business development, consulting, strategy, product management, financial modeling, sales and marketing. Focused on establishing product-market fit, growing businesses, raising investment capital, and achieving operational excellence for client firms. Recent engagements include multiple high-growth startups, an investor group, a Fortune 500 corporation consistently ranked in Forbes’ Top 100 Most Innovative Companies, a high-end boutique retail establishment, and a commercial real estate private equity firm.
An alumnus of Babson College’s MBA program, Donald earned an Investments concentration and absorbed the entrepreneurial spirit embodied at the F.W. Olin Graduate School of Business (Ranked #1 MBA for Entrepreneurship by U.S. News & World Report).
Visit bitminutes.com for more info.
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Categories:Initial Coin Offering