- ZEBEDEE will allow swift BTC transfers worldwide.
- It will employ the lightning network and strategic partnerships.
ZEBEDEE platform now allows instant Bitcoin transfers worldwide, using their lightning network, facilitated by some strategic partners. This facility would allow the US, UK and EU users to instantly send money using the ZEBEDEE platform in the Philippines using Pouch.ph and in Brazil using Bipa.
ZEBEDEE: Trying to Spur Bitcoin Adoption
This announcement from ZEBEDEE suggests that the account holders can now directly connect to the platform of said partners. This scenario shall work similarly to the traditional banking system, where users connect different bank accounts once and perform swift transactions afterward.
To illustrate its use case, the press release from ZEBEDEE explains how if a Brazilian user earns Bitcoin by playing a certain game, he can instantly convert it to Brazilian reais by transferring the amount to Bipa. There are many more ways in which it can be used, and the possibilities of its use cases are immense.
Co-founder and CTO of ZEBEDEE, Andre Neves, how necessary this step was for the company’s development and the growth of Bitcoin. He further added that if BTC has to be the native currency of the internet, then a very intuitive and easy-to-use system has to be in place, which makes it very simple for an average person to use Bitcoin as if it is a global currency.
ZEBEDEE’s newest feature can be considered a right step in the right direction because it allows users to select great global providers with just a click, allowing instant transactions to any part of the world.
Borderless Transactions
The CEO of Pouch.ph, Ethan Rose seemed to be thrilled about their partnership with ZEBEDEE, especially with the feature of borderless transactions. This partnership aligns with the company’s vision of financial inclusion of Asia’s pearl of the orient.
The lightning network is touted as the best tool for the job. Along with ZEBEDEE, Pouch.ph can keep pushing the technology’s boundaries and facilitate swift and seamless transfer of funds between their bank account and any Lightning wallet anywhere in the world.
Co-founder and CEO of Bipa, Luiz Parreira, mentioned similar points while adding that this exceptionally simple new user experience created by ZEBEDEE can be considered a very powerful move towards expanding the company’s reach to more users in the ‘Coffee pot of the World.’
Possible Implications on the Crypto Industry
If this new feature works as expected, it can potentially bring Bitcoin out of crypto and into general finance. People interested in using BTC tend to avoid it due to the associated complexity and delay in transaction time. ZEBEDEE’s coming in with this feature of lighting transfer of funds could solve these problems.
A roadblock that the crypto industry faces is the mass adoption of cryptocurrency. The factors stopping from taking it to every person are underlying complexity and fear generated by recent events. Facilitating quick transfers worldwide will get more people interested in the technology.
Moreover, the crypto industry is recovering from a harsh crypto winter and a series of black swan events which left large liquidity holes that are yet to be filled. Such developments can accelerate industry and market growth.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
