UK well-known bank Barclays has informed about its trial of bitcoin technology at Barcalys Accelerator demo session in London on Monday. In cooperation with Safello, bitcoing exchange, it will assess advantages of blockchain technologies for the financial services sector.
Safello became one of the 10 Fintech startups taking part in Barclays’ 13-week accelerator program, led from the previous year with funds from TechStars (£20,000), mentoring and toolkit provided by the UK bank.
Safello Chief Executive Officer Frank Schuil stated for Coindesk, that Barclays is keeping pace with innovations in financial sector, saying: “If a Tier I bank signing a proof-of-concept with a bitcoin company isn’t a sign of the times then I don’t know what is … their attitude is changing and it is changing fast.”
According to Schuil, the bitcoin program is a “mutual learning experience” for the UK bank, as well as Safello, and the bitcoin spending platform could become relevant for Barclays.
Meanwhile, another start-up – Trestor Foundation, has already started a pilot program for Trest digital token in Cameroon.
Trestor is trying to improve the underdeveloped economy in the African country, as liquidity is lacking among its inhabitants. The India-based company has tried Trest tokens after they experienced success with Socapssi, which has already been helping on local field.
As the founder of Socapssi, Antoine de Padoue said, 500 people from “a small economically-knit community”, aged 15 to 35, were included in the program. They took tokens as a default method of payment for 30 days and they created a Trest-based micro-economy
According to De Padoue, after this first test there are further 500 partner locations planned over the next 12 months. Now, Trestor has 592 retail partners in 65 countries.
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