- This topic has 1 voice and 0 replies.
-
Posts
-
-
#News(Startup) [ via IoTForIndiaGroup ]
The Monetary Authority of Singapore (MAS) today announced the three winners of the Global FinTech Hackcelerator, selected from 20 finalists1 that presented their innovative solutions at Demo Day, as part of the third Singapore FinTech Festival. The Global FinTech Hackcelerator was supported by KPMG Digital Village.
Billon Group Ltd
Billon’s technology encodes national (i.e., fiat, not crypto) currencies via blockchain to allow for zero cost payment transactions. The system is composed of blockchain nodes, where each node is essentially an application installed on an end-user device (smartphone, tablet, computer, server) and each new user brings its own device (typically a smartphone), which adds processing power to the system as a whole. Transactions are processed directly between the nodes, without any central system being involved. Currency thanks to blockchain gets transferred peer to peer with no third party intervention, no intermediaries, thus it flows at zero cost. Consequently, the systems scales without any incremental transaction costs, and recent tests proved the ability to process over 160 million payment transactions per day.
-
- You must be logged in to reply to this topic.
