Bitcoin startups see potential in developing countries

Despite last many problems the optimism in the Bitcoin industry is unbroken. A conference in New York shows a trend towards services where users behind hardly come into contact with the technology. Despite the price slump and criminal cases in the digital currency Bitcoin their supporters remain optimistic, as the end of April was shown at a conference for investors and entrepreneurs in New York. The Bitcoin service XAPO sets according to a report from Technology Review it to attract customers in developing countries where there is otherwise little or no banking services or whose currencies are more unstable than Bitcoins.

“We are just at the beginning”, said at the conference Barry Silbert, founder of financial technology company Second Market and investor in 48 startups with Bitcoin-related, including XAPO. In the past 24 months there had been invested in the technology industry about one billion US dollars.

The general trend seems to go there to offer services based on the Bitcoin technology, as little as possible in order to come into contact with the user. A XAPO debit card will allow payment processes, which automatically sold the necessary amount of Bitcoins by the wallet when making a purchase – and as a normal money arrives at the opposite in the account. However, the customer must have previously nor its wallet filled with coins. Also, the money transfer service Abra uses the Bitcoin blockchain, but the customer will have to buy or sell for the service no Bitcoins themselves.

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