BSV Case Study Library
  • How to use this library
  • Accounting
    • Dutch Tax Administration solution by mintBlue
    • Visma | Yuki solution by mintBlue
  • AR, VR, Metaverse
    • HandCash
    • Omniscape by Transmira
  • Blockchain Infrastructure
    • 1Sat Ordinals
  • Neucron
  • WEB3CO2 Index by SmartLedger (Infrastructure)
  • Charity
    • Sheltersuit solution by mintBlue
  • Compliance
    • CannaTrack by Smartledger (Compliance)
  • PredictEcology (Compliance)
  • Proof-of-ESG & ESG Stamp by SmartLedger (Compliance)
  • TrueWorld and Gate2Chain (compliance)
  • VXPass by VXTechnologies (Compliance)
  • Cybersescurity
    • GripID solution by SmartLedger
    • Sentinel Node (Certihash) by SmartLedger
  • Digital Media & Marketing
    • Buzzmint
    • Jamify
    • Libraro
    • Omniscape by Transmira (Digital Marketing)
    • Rad NFTV
    • SLictionary by Structured Linguistics LLC
    • Soundoshi music streaming
  • TonicPow
  • Entertainment & Sports
    • Rad NFTV (entertainment)
    • TicketMint solution by SmartLedger
    • Zetly
  • ESG
    • DockFlow solution by mintBlue (ESG)
    • Onda by Universal Plastic
    • Proof-of-ESG & ESG Stamp by SmartLedger
  • TrueWorld and Gate2Chain
  • WEB3CO2 Index by SmartLedger
  • eSports & Gaming
    • Champions of Otherworldly Magic
    • CryptoFights by FYX Gaming
  • Duro Dogs by Asset Layer
  • Frobots
  • HandCash (Gaming)
  • Haste Arcade
  • Peergame Casino Platform
  • FinTech
    • Amleh by Layer2
    • Automated Post-Trade by Tokenovate
    • Bitlipa
    • Centbee (FinTech)
    • Centi Franc by Centi Ltd
    • DXS
    • HandCash (FinTech)
    • Intrasettle
    • Liquid Noble
    • Minit Money
  • MNEE Stablecoin
  • MyBanka
  • Neucron (FinTech)
  • PalmFusion
  • TroyMoney
  • Health
    • Clear Sparrow (Health)
    • VXPass by VXTechnologies (Health)
  • Identity
    • Clear Sparrow
    • GripID solution by SmartLedger (Identity)
    • Omniscape by Transmira (Identity)
    • PalmFusion (identity)
    • VXPass by VXTechnologies
  • Industrial services
    • Bau app
  • IoT
  • PredictEcology
  • Rekord IoT by Rekord AG
  • Vineyard Vantage by SmartGrow AgriTech (IoT)
  • WeatherSV by MetaStreme
  • Logistics
    • 2Way solution by Elas
    • DockFlow solution by mintBlue
  • Online services
    • AnonSurvey by Webmaster Studios
    • Britevue by Murray Distributed Technologies, Inc.
  • Quality Assurance
    • CannaTrack by Smartledger (QA)
  • Smart Cities
    • Omniscape by Transmira (Smart Cities)
  • SOCIAL MARKETPLACES
    • Minta by Gate2Chain
  • Social Media
    • Centbee
    • Là Mint
    • my2cents by P2P Software GmbH
  • Supply Chain
    • CannaTrack by Smartledger
    • Manufact
    • Vineyard Vantage by SmartGrow AgriTech
    • Trace by Gate2Chain
Powered by GitBook
On this page
Export as PDF
  1. FinTech

Centbee (FinTech)

PreviousBitlipaNextCenti Franc by Centi Ltd

Last updated 20 days ago

PROJECT OVERVIEW

  • Product: Centbee Bitcoin (BSV) wallet service

  • Company Name: Centbee

  • Industry: Digital Payments / Fintech

  • App URL:

  • Geographic Reach: Global (with operational presence in South Africa, Nigeria, Switzerland, UK, and EU)

  • BSV Integration Start Date: 2018

BUSINESS CHALLENGE

  • Traditional digital wallets and banking apps were often complex, expensive, and ill-suited for users in developing markets.

  • Barriers existed for cross-border remittances, especially in Africa, due to high fees and slow transaction speeds.

  • A lack of regulatory-compliant blockchain solutions limited adoption in financial applications.

  • Young users lacked engaging, mobile-first financial tools that mirrored the ease and functionality of social apps.

WHY BSV?

  • BSV offers ultra-low transaction fees, crucial for microtransactions and remittances.

  • Its protocol is stable and scalable, allowing high-speed payments without congestion.

  • The BSV blockchain complies with global regulatory requirements, supporting KYC and traceability.

  • Compared to other blockchains, BSV better aligns with the original Bitcoin white paper's vision of peer-to-peer digital cash.

SOLUTION ARCHITECTURE

  • Overview: Centbee is a mobile wallet built on the BSV blockchain that facilitates sending, receiving, and spending digital cash.

  • Key Features:

  • Digital cash wallet with social media-style interface.

  • Chat, notifications, and transaction history.

  • Remittances to bank accounts (via IBAN), mobile wallets, or cash pickup.

  • Top-up capabilities through EFT, cash, or virtual accounts in select countries.

  • Payments for real-world goods like gift cards, mobile top-ups, and more.

  • Partners/Vendors:

  • FusePay (Nigeria): Enables wallet top-ups.

  • Centi (Switzerland): Supports top-ups and remittances.

  • Teranode Group Technology partner for blockchain stability and innovation.

IMPLEMENTATION PROCESS

Rollout:

  • Initial launch in South Africa, followed by global expansion.

  • Iterative app updates (latest version includes UI overhaul and new features).

Integration:

  • Worked with banking and payment infrastructure to enable virtual accounts and EFT compatibility.

  • Full KYC and regulatory compliance integrated from early stages.

Onboarding:

  • Focused on young users and diaspora communities.

  • Simple UX mimicking social media apps facilitated organic adoption.

OUTCOMES & BUSINESS IMPACT

Quantifiable Improvements:

  • Reduced remittance costs and increased speed.

  • Greater accessibility to digital cash via mobile-first interface.

  • Increased adoption in underbanked regions.

Metrics:

  • Enhanced ability to spend BSV across global brands.

  • Active partnerships in multiple countries supporting wallet funding and remittances.

Feedback:

  • Users find Centbee easy to use and affordable.

  • Ecosystem partners appreciate seamless integration and compliance.

CHALLENGES & MITIGATIONS

Challenges:

  • Expanding top-up infrastructure globally.

  • Educating users unfamiliar with blockchain technology.

Mitigations:

  • Strategic partnerships (e.g., FusePay, Centi) for infrastructure support.

  • UI/UX designed to abstract blockchain complexity and focus on user experience.

FUTURE VISION

  • Expand wallet funding options in more countries.

  • Continue improving app experience to appeal to young users globally.

  • Scale remittance services to more corridors.

  • Explore additional BSV capabilities like micropayments and NFT integration.

TESTIMONIAL HIGHLIGHTS

"We’re creating an experience that mirrors popular social networking apps, but where money is the core medium of interaction." – Lorien Gamaroff, CEO and Co-founder, Centbee

https://www.centbee.com/
Page cover image