Singapore-based Payment Solutions Provider CoinPip has teamed up with 37Coins to bring an SMS wallet to the region.
CoinPip is excited to offer the opportunity for consumers to pay in bitcoin from absolutely any mobile device with SMS functionality.
The company has gained attention with their BOOST events, promoting Bitcoin throughout the region in an intimate setting with a hands-on and educational approach. They saw a real need to rapidly integrate this service for their users on Apple devices or with dumb phones.
Co-founder of CoinPip, Anson Zeall, is planning to expand to Hong Kong and Indonesia in the coming weeks, eventually introducing the wallet throughout South East Asia, in areas where 3G connections are still very limited.
Anson informs us that:
“The mobile market in South East Asia is extremely massive but the usage of smartphones is still lagging. So QR code scanning is not that useful. Thus the collaboration with 37coins is going to make payments more convenient for everyone else.”
After trying out the system myself, I must say that 37coins has managed to create a unique and user friendly SMS experience. By messaging “hi” to the nearest SMS gateway listed, the user receives a welcome text message from a local gateway and is ready to go. It is this gateway model that makes the 37Coins approach unique.
Instead of seeking permission from local telecom providers, the 37Coins system operates through ‘gateways’. These are local people in each country running a special program on any Android device. Anyone can run a gateway. By running the gateway an individual operator will receive a fraction of any transaction going through their service.
In this way the 37Coins model mimics the Bitcoin network itself. By embracing decentralisation it is essentially impossible to shut down. It can also benefit from the exponential network growth that comes with the economic incentives built directly into the network. Individual operators are free to join and leave at will. All they need is an android device.
CTO of 37Coins, Johann Barbie notes that:
“The 37coins gateway system is distributed, and modeled after Bitcoin itself. A person that deploys a gateway gets a tiny % of the transaction which turns it into an entrepreneurial opportunity.”
CoinPip showed incredible forethought with this integration. The company has, at the same time, recently introduced its first release of an online API for merchants that want to accept bitcoin online and uploaded the CoinPip Merchant POS app to the Google Play store.
They will be launching all of this at the BOOST:Bitcoin event on 7th May.
CoinPip is a startup with a vision to make bitcoin and other cryptocurrencies as safe and easy-to-use as any other form of money. Starting in the Asian market, it intends to take the CoinPip system to the world marketplace, distributing SMS, Card and Mobile wallets and its merchant services, one business and customer at a time.
The post CoinPip brings SMS Bitcoin Wallets to Asia appeared first on Bitcoin Magazine.
The BlueCoin Phenomenon
BlueCoin is very serious about their chosen theme. Taking cue from the cultural antics of the Dogecoin community, the founders of BlueCoin have been trying to give it something of a personality. They announced an official BlueCoin afterparty to ...read more
Ripple Labs CTO Designs Smart Contracts
Stefan Thomas is one of the more talented and respected developers in the space. An old hat at this young technology, he has been making waves as the CTO of Ripple labs. In a recent effort he has set ...read more
American court stops Mt. Gox from auctioning Bitcoin domain
A United States court issued a temporary order to forbid the sale of the domain Bitcoins.com, which is still owned by the CEO of the defunct cryptocurrency exchange Mt. Gox. Mark Karpeles announced the auctioning of the domain two weeks ago. The injuction ...read more
New York-based Coinsetter evolves to “full US Bitcoin exchange”
Following the recent presentation of the first BitLicense draft, the Bitcoin-related set of rules that will regulate the crypto-economy in New York, the local exchange Coinsetter announced its evolution from beta stage to “full US Bitcoin exchange”. “Today, we’re pleased ...read more
Building a Bitcoin Economy: How to Close the Loop
This guide is a continuation of a previous article at http://bitcoinmagazine.com/13104/building-bitcoin-economy-stimulate-adoption/ If you or someone in the area has been preaching crypto for a while, you probably have a few nearby businesses accepting Bitcoin by now. This is an important first ...read more
#OffTheCouch: Award-winning Film Could Bring Bitcoin to 1,000 High Schools
The Corporation Film’s Crypto Challenge from Hello Cool World on Vimeo. For its 10th year anniversary, “The Corporation” is raising money for a re-release shown to 1,000 schools across North America. Their original fiat campaign closed at $30,000, and they’re ...read more