digitalBTC, an Australia-based digital payments company, has launched a new person-to-person payments (P2P) transacting technology called AirPocket using Bitcoin’s blockchain technology.
The company said that the new app will allow anyone with a smartphone to become an AirAgent and begin distributing cash to those receiving remittance from overseas.
Also, digitalBTC has developed mapping interface for Airpocket that allows customer to find an agent in another country, who would send the funds to the recipient.
In order to ensure that the fund flow remains traceable, all the transactions will be recorded in the blockchain.
Once the agent receives the funds, an encrypted code called Aircode will be generated, which will be later sent to the recipient who will validate the code to access the funds.
The company expects to start a beta testing between the United States and Mexico soon.
The new solution will charge a transaction fee of 3% on the sender, from which intermediary and DigitalBTC would retain 1%.