TransFastBit

Send and Receive Bitcoin by SMS


rating

Not reviewed


ICO starts

ICO ends

Hard cap

Token

Price on ICO

Price on ICO, eth

May. 1, 2018

Jul. 31, 2018

35000000

TFB

0.005

0.0000008

ICO Website

ICO is active

67 days left



Red flag: No team

No team found on the project website

About TransFastBit
TransFastBit is a platform that allows anyone with a mobile phone to make Bitcoin (BTC) transactions. The ability to make cryptocurrency transactions without the Internet, by Short Message Service (SMS), provide global opportunities for poor and underbanked people around the world. Whether you are a Smart Phone or feature-phone user, you can send and receive Bitcoin (BTC) using your phone without internet.

Problem
A major obstacle to the adoption of global Bitcoin is that the Bitcoin network operates exclusively with internet. Currently, the internet is only available to a small portion of the world population. However there are now more ways to connect to the Bitcoin network. With Transfastbit, it will be possible to use the Bitcoin network over a simple SMS.
Solution
Transfastbit allows users to send and receive Bitcoin (BTC) without internet by using simple text commands. This will help in areas where access to internet is difficult or not possible. In Africa the mobile money service M-Pesa in Kenya has treated about six billion transactions mainly SMS in 2016 with 29.5 million active customers. TransfastBit uses similar technology but takes advantage of the security of the Bitcoin blockchain to provide services to anyone who uses mobile phone without intenet access. Beta users in Asia, South America and Africa will receive $ 1 in free BTC to test TransFastBit technology in september. New users automatically receive a Bitcoin wallet attributed to their phone when they receive Bitcoin throught TransfastBit, or when they send a command to TransfastBit valid phone number. TransfastBit never holds funds and all transactions are settled directly on the bitcoin blockchain. The portfolio works with basic commands such as BALANCE DEPOSIT, SEND and WITHDRAW.



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