Fintech Startup Billon Raises $2 Million to Tokenize Fiat into Digital Cash

Billon, a former Polish based now London-headquartered start-up, has raised $2 million to “further investment in its UK and Polish partnerships,” according to a press release.

Somewhat uniquely, the start-up claims they have implemented a “proprietary blockchain technology,” which turns fiat into digital cash. They state they are “interconnected to 2 banks, 6,000 ATMs and 18,000 kiosks through partnerships in Poland.”

We found it difficult to learn more about its underlying infrastructure. There is no code to analyze, no technical whitepaper, any public information appears very general, and in reply to our specific questions we received no more than was publicly available:

“Billon developed its own proprietary payments platform, optimized for peer-to-peer mobile transfer and for automated and seamless compliance and control.”

There appears to be at least three servers from any information we can gather. One at each of the two partnering banks and another at Billon. Banks initially convert fiat into digital tokens at a 1:1 ratio, presumably through special nodes, and, as Billon users can withdraw at a cash machine or send tokens

Read more ... source: CryptoCoinsNews

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