Topic: [ANN] Bitspark Launches Project Zephyr- Reward Token for Global Remittances - page 5. (Read 7920 times)

Bitspark, the world’s first cash in, cash out blockchain remittance platform is evolving with Project Zephyr - a project to incentivise the growth of the remittance businesses in new markets and end dependence on banks for the remittance industry.

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Problem

Money Transfer Operators (MTOs) are bricks and mortar cash locations to send and receive money on behalf of their customers and are the backbone of the $600billion remittance industry. As banks continue ‘de-risking’ worldwide they are shutting down MTO’s bank accounts at no fault of the MTO who, without a bank account, has little access to world currencies and cannot send money for their customers ultimately being forced to close their business.

Solution

Project Zephyr will enable MTOs and remittance customers to have access to 180+ fiat pegged cryptocurrencies through Bitspark’s existing mobile app Sendy (2017) and web platform (2014) which is switching to Bitshares for settlement.

Participants of Project Zephyr will be rewarded with Zephyr tokens for doing economically beneficial actions for Bitspark’s remittance network such as sending and receiving money, referring others, top ups and liquidating MTO balances. With every successful transaction on Bitspark’s network, 25% of the service fee will over time be used to buy back Zephyr Tokens from the market on the Bitshares DEX creating positive price pressure.





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Project Zephyr has already begun


This May, Bitspark with the United Nations Development Program did a mission to Tajikistan, a country with poor banking infrastructure, large internet and mobile penetration and a steep reliance on remittances that makes up on average 30% of its GDP. After extensive research in the region, Bitspark announced that Tajikistan will be the first country to be added to Project Zephyr with Tajikistan as its first pilot country in collaboration with UNDP.

UNDP Article
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