Cel
The number and volume of non-cash transactions has been increasing in the recent years, which makes the technological limitations of the existing IT systems more apparent than ever. The low performance of the centralised IT architecture increases the maintenance cost, that are transferred to customers. The European Commission revealed that growing bank fees are leading to financial exclusion of the poorest citizens. It is estimated that 2.5 million Europeans who applied for the bank account have been rejected for being too poor.
The technological issues of centralised IT systems are too difficult to be solved without making a disruptive change in the banking industry. When the regulated services cannot be offered, there is a room for non-regulated products which compromise on financial market security, e.g. cryptocurrencies like bitcoin.
Our value proposition is Billon - a distributed ledger technology for creating free current accounts enabling making ultra-low cost payments with real currencies (EUR, GBP, PLN) in a regulated manner. The disruptiveness of Billon arises from:(1) distributed architecture developed on blockchain by our specialists, (2) compliance with the EU regulations upon the agreements with banks and ongoing FCA Regulatory Sandbox in the UK.
After introducing the first free current account in a smartphone and finishing pilot trials with our business partners, we apply for the SME Instrument to expand the Billon ecosystem. The proposed project is addressing market segments of mass payouts for corporate customers and social & media online payments for online users.
Billon is aiming to disrupt the market of alternative payments, which will be worth $1,400 billion in 2019. Our business model is to make profit on corporate customers, willing to enhance digital engagement of their clients and digitalise business processes. It will enable us to offer ‘lite’ current account for free to unbanked and financially excluded (165 mln in Europe, 2 bln globally).
Dziedzina nauki
- social scienceseconomics and businessbusiness and managemententrepreneurship
- natural sciencescomputer and information sciencessoftwaresoftware applicationssystem software
- natural sciencescomputer and information sciencescomputer securitycryptography
- social scienceseconomics and businessbusiness and managementcommercee-commerce
- social scienceseconomics and businessbusiness and managementbusiness models
Słowa kluczowe
Program(-y)
Zaproszenie do składania wniosków
Zobacz inne projekty w ramach tego zaproszeniaSzczegółowe działanie
H2020-SMEINST-2-2016-2017
System finansowania
SME-2 - SME instrument phase 2Koordynator
00 867 WARSZAWA
Polska
Organizacja określiła się jako MŚP (firma z sektora małych i średnich przedsiębiorstw) w czasie podpisania umowy o grant.