One of the leading blockchain research and development groups, nChain, has entered into a business deal to secure a major stake in Handcash. HandCash is a revolutionary Bitcoin Cash mobile wallet that makes use of Near Field Communication (NFC) technology to ensure its users can easily send Bitcoin Cash to others, as they would with physical money. This deal was made courtesy of nChain Reaction Ltd, nChain’s Group investment Ltd.
The Origin of Handcash
Handcash, has its roots in Spain, under the pioneering leadership of Rafael Jimenez Seibane and Alejandro Pascual Agit. Through NFC technology, the mobile application makes it possible for mobile wallets to complete transfers instantly through mobile applications. This way, users of Bitcoin cash can make seamless transfers through “contactless” transfers as long as the mobile devices of the users are in close proximity to one another. Essentially, this works the same way as the contactless credit card. Alex Agit, one of the co-founders of Handcash, offered an explanation on how this works:
Bitcoin was conceived to be peer-to-peer electronic cash. We wondered why Bitcoin was not being used like cash. That gave us the idea to create a wallet application that allows you to send Bitcoin in a way that resembles handing someone cash, by merely placing a sender’s mobile device close to the recipient’s device. That’s why we named our project HandCash. We also knew the application could only work on Bitcoin Cash, with its low fees and instant confirmations.
This means that it is now easier than ever to send Bitcoin Cash as you do not have to deal with the complicated process of dealing with QR codes and receipt addresses that are synonymous with current Bitcoin applications.
What do you think about nChain’s stake in Handcash? How will this revolutionize its payment processes? Let us know your comments in the comments section below.