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What is BitMinutes
BitMinutes Solution: “Better than Bitcoin for Billions”
Unlike most new technologies in the ICO space, BitMinutes currently operates a live technology platform generating revenue as the underlying currency to the P2P Cash money transfer platform.
Led by Harvard Business School and Stanford graduates with decades of financial services and technology experience, BitMinutes is quickly establishing itself as the leader in affordable consumer financial services and strategic partner to prepaid wireless carriers and financial institutions globally.
BitMinutes solve the global banking problem of providing financial services to the 2 Billion un-banked and therefore are “Better than Bitcoin for Billions”.
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 for 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.
> Harvard/Stanford team launches P2P Cash Incubator to develop global FinTech applications.
> P2P Cash wins Top Ten Global Strat-Up Award from SWIFT.
> Free Money Transfer JV with largest retail bank in Africa.
> P2P Cash wins Harvard Business School Top Ten Global Start-Up Award.
> Asset-backed BitMinutes released (1st generation).
> Over $2.5 million invested to date.
> Initial coin offering (ICO) (april 30, 2018)
> 20+ million BitMinutes customers.
CEO, Stanford Engineer, Harvard MBA
CTO, Moi University, Kenya, Kennesaw University, Masters Computer Science
Head of Banking, Compliance & Foreign Exchange, Fordham MBA, NFA Licensed
Head of Marketing
Head of Business Development
Head of Latin American Operations
Head of Engineering
Head of Merchant Relations
Head of Social Media
Head of Operations
Leonard H. Schrank
Former CEO of SWIFT
Brian W. Smith
Former in-house counsel at MasterCard and the OCC
Founder at Draper Associates/DFJ/Draper University
David Drake is the Chairman of LDJ Capital
Max Smetannikov is the CEO of Marlboro Victor Group
Managing Director, Raymond James Financial
UNAIDS Regional Director, Asia & Pacific
Founder/Managing Partner at light47
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