Written by CentbeeDecember 10, 2021

Centbee as a Cold Wallet

Centbee can act as a cold wallet by following these steps:

  • Create a Centbee Wallet
  • Write down your 12 word phrase and 4 digit PIN.
  • Save your Receive Address and take a screenshot of the QR code and print it out.
  • In Centbee Settings select the RESET Wallet option.

You will now have a cold wallet with an Address that you can deposit coins into.

Any time you want to deposit coins scan the printed QR code and send coins to it.

If you want to retrieve your coins use the RESET Wallet option in Centbee Settings again and insert your Cold Wallet 12 words and PIN.

Hot Wallet for Spending

You can then create another wallet with a different set of words and PIN to use as your hot wallet.

It is easy to switch between wallets by resetting Centbee and using the set of 12 words and PIN of the wallet you want to use.

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Written by CentbeeJune 18, 2020

Being able to buy electricity, data and airtime with Bitcoin SV using the Centbee app

SA fintech enables electricity, airtime and data purchases using Bitcoin SV Johannesburg, Thursday 18 June 2020: South African fintech, Centbee, launched a new feature in its Bitcoin SV wallet today that allows you to purchase prepaid electricity, airtime and data. This is the realisation of a dream by co-founders Lorien Gamaroff and Angus Brown, finally making the vision for bitcoin as electronic cash a reality.

South African Centbee users have been able to top up their wallets with Bitcoin SV from over 50 000 retail stores since early 2019 and from their South African bank accounts since February 2020. In addition, Bitcoin SV can be bought from South African cryptocurrency exchanges VALR.com and AltCoinTrader and sent to a Centbee wallet in seconds.

How to use Centbee to buy prepaid electricity, airtime and data with Bitcoin SV South African Centbee users will find a new ‘buy’ button in the Centbee app menu where they can purchase prepaid electricity, airtime and data from mobile networks in South Africa. With Bitcoin SV already in their wallets, it’s easy to buy electricity, airtime and data in just a few minutes.

Lorien Gamaroff said, “This is the reason I built the Centbee app. To make bitcoin useful, convenient and accessible so that anyone with a mobile phone can use it like cash, which was always bitcoin’s vision. Now, with a way to buy everyday products and services with Bitcoin SV, we’re one step closer to making Bitcoin SV the everyday electronic cash that millions of people can use.”

Making Bitcoin SV useful for consumers has always been a priority for Centbee and the Bitcoin SV blockchain is the obvious choice for large transaction volumes at the lowest cost. Bitcoin SV is the only blockchain that can scale exponentially and its industry players are known for their unyielding commitment to regulatory compliance and supporting traceable and legal transactions.

The Bitcoin Satoshi’s Vision (SV) blockchain restores the original protocol described in the Bitcoin Whitepaper in 2009 by bitcoin creator, Satoshi Nakamoto, and fulfils the vision for bitcoin as peer-to-peer electronic cash.

Angus Brown commented, “As experts in payments and financial systems, we strongly believe that regulatory compliance is an essential element to building the Bitcoin SV ecosystem. We support regulations that protect consumers and give businesses the confidence to utilise blockchain technologies. Bitcoin SV is the only blockchain that is able to deliver this as well as fast, cheap and exponentially scalable transactions.”

Download the Centbee app from the Google Play Store or Apple App Store.

For images of a prepaid electricity purchase with Centbee using Bitcoin SV : https://drive.google.com/file/d/1TA1RQQNhjYPg3LtzgAU8RM8COr0wx-Cq/view?usp=sharing

About Centbee

Centbee is a Bitcoin SV wallet provider that makes it easy for global consumers to buy, keep, spend and send Bitcoin SV to their friends using their mobile phone.

For further information, please contact Michelle K Blumenau, Turquoise PR on +27 83 273 9891 michelle@turquoisepr.co.za

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Written by CentbeeFebruary 21, 2020

International venture capital fund takes a stake in Bitcoin SV scale-up, Centbee

 

 

 

 

 

 

21 February 2020, Johannesburg: Amsterdam-based venture capital fund, Two Hop Ventures, today announced that it has taken a stake in BitcoinSV (BSV) wallet provider, Centbee. Centbee is growing globally from its base in South Africa. The deal comes after South African-based venture capital fund Paper Plane Ventures successfully exited to Two Hop. Centbee was in the news last year when it raised £1 million in a Series A round from Canadian-born billionaire entrepreneur Calvin Ayre.

Two Hop co-founder Jan Smit commented, “Not only is Centbee one of the most used wallets in the BitcoinSV (BSV) ecosystem, it’s building products and services with a strong focus on regulatory compliance. The senior management team come from strong professional and corporate backgrounds including software engineering, banking, payments, accounting and finance. We believe its professionalism and strong businesses acumen will enable Centbee to branch into many adjacent services and geographies which competitors are less likely to address. The Two Hop team is looking forward to supporting the Centbee team on this journey.”

Michael Stannard of Paper Plane Ventures said, “We’re proud to have supported Centbee from its early days as a small start-up to becoming a formidable player in the crypto-asset space. We look forward to watching the fintech grow.”

Angus Brown, co-CEO of Centbee added, “This deal demonstrates the potential for Centbee and other BitcoinSV (BSV) companies to deliver real value for both investors, industry stakeholders and consumers. We’ve enjoyed a high user growth rate and have a clear path to revenue. With Two Hop’s support, we’ll continue building more utility into our products by leveraging the BitcoinSV (BSV) blockchain and delivering world class app functionality to our users.”

 

About Centbee

Centbee is a BitcoinSV (BSV) wallet provider that makes it easy for global consumers to buy, keep and send BitcoinSV to their friends using their mobile phone.

About Two Hop Ventures

Two Hop Ventures is a venture capital fund based in the Netherlands. It invests exclusively in companies leveraging the BitcoinSV (BSV) blockchain. Two Hop’s investment targets are enabling technologies such as Identity as a Service (IDaaS), Indexing, Remittance and Document

 

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Written by CentbeeOctober 8, 2019

Centbee founder talks how BSV is transforming international remittance

Centbee has been on the frontline of the Bitcoin SV (BSV) revolution in the African continent, and during the recently held CoinGeek Seoul Conference, the founder and CEO Lorien Gamaroff broke down how BSV is transforming international remittance. For Centbee, venturing from a simple BSV wallet into the fastest and most affordable remittance company in Africa was necessitated by the prevailing conditions in the continent. The company is based in South Africa, Africa’s economic giant. With the country having more opportunities than its peers, it receives millions of job seekers every year. These people need to send money back home, but the available options are either slow or quite expensive, usually both. Gamaroff explained:

It’s well-known that in Africa, it has the most expensive cross border remittance corridors. But not only that, there are all sorts of barriers, from the high costs, the complexity around actually moving that money – filling in the forms, and we have a lot of undocumented people living around there.

While there are fintech firms that have tried to solve the challenges, they run into the same challenges sooner or later as they depend on the same banks they try to replace.

Only Bitcoin can solve this challenge, and with this realization, Centbee has been on a quest to transform the remittance sector in Africa. But first, the company had to solve the foremost challenge: making the acquiring of Bitcoin SV easy and accessible across South Africa. This it achieved through the use of the voucher system, an onboarding method that has received praise for its effectiveness across the crypto community.

Gamaroff remarked, “If you go to the Centbee wallet and you go to South Africa in the map, you’re going to see that there isn’t a single stretch of the country that we haven’t covered. Even the smallest towns across the country have multiple locations where you can go into the store, hand over cash and receive Bitcoin instantly, not even hours or days later but instantly on your Centbee wallet. So, this is now our gateway, and now we can start creating this ability to move that money, and this is what we’ve done.”

The first corridor that the company decided to disrupt was Nigeria-South Africa. Nigeria is the other African economic giant and with over 200 million people, it was the best market to start with.

While many people focus on selling the potential of Bitcoin to those who are yet to try it, Centbee has used a different approach. As Gamaroff explained, the company uses Bitcoin as the rail, with the customer not even having to get into all the technical details involved.

To use Centbee’s remittance platform, the user just indicates the amount they wish to transfer on the Centbee Remit app. The user also has to indicate the name and the account number of the recipient. Centbee has to validate the details because, “there is a regulatory requirement about that.” The app then generates the bar code which the user can then use to pay at a retail store through the voucher system.

The company then sends the BSV to a local partner in the country where the recipient resides. With BSV being the fastest blockchain project, this only takes a few seconds. The partner in the other country then converts it into fiat and deposits into the recipient’s bank account.

How fast is the transaction, you ask? Gamaroff illustrated, “You could still be in the line at the cashier’s when you go and create that transaction. Before you’ve even left the store, the money is actually in the bank account on the other side.”

Centbee’s remittance solution has brought down the costs associated with this type of transaction drastically. In Africa, the cost of international remittance averages at 15%, an abnormally high percentage that hinders free trade between the African nations and beyond. But it’s not just the costs that it has brought down as Gamaroff explained:

But not only that, it’s the whole convenience of it. You know, it’s not just about the price usually. It’s the convenience. How easy is it for me to be able to go the store and without having to fill in a whole lot of complex information, be able to make that transaction.

It’s not been all rosy for the company. One of the challenges that it has faced is the regulatory environment. However, Gamaroff and his team have designed Centbee to be compliant. Already, the company requires important information from its users as required by the financial laws.

Away from Centbee, Gamaroff is excited about the developments taking place in the BSV ecosystem. Speaking to CoinGeek’s Jasmine Solana, he stated, “What we’re finding is that everybody is talking about the amazing products that can be built, the ways in which we can disrupt the existing industries. It’s really fascinating.”

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Written by CentbeeSeptember 27, 2019

Service Outage – September 20

On Friday September 20th, at approximately 21h00 GMT, Centbee wallet suffered a service outage which lasted into the early hours of Saturday the 21st of September. Users experienced balance and transaction issues and were unable to send bitcoin.

The problems experienced were due to a faulty internal system process that incorrectly calculated satoshi amounts and dates for several blocks. Centbee has extensive infrastructure to manage load and we have load balanced our services to create a redundant system. The date and amount issues, however, corrupted our database which meant that all transactions that were processed subsequently were affected.

The issue was discovered and the blocks of transactions which were affected were reprocessed. This corrected the problem and Centbee services came back online.

We have put measures in place to stop this issue from reoccurring. We are proud of our infrastructure and believe that it is scalable and resilient. We apologise for any inconvenience that was caused to users over the period of the outage and we are determined to continue providing a great service and the best customer support to our users.

Lloyd Sayce

CTO of Centbee

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Written by CentbeeApril 17, 2019

Centbee, SA based Bitcoin wallet and merchant payment ecosystem raises £1 million from Ayre Ventures

Centbee / Ayre Group

Media release

Johannesburg – April 17, 2019: South African-based Bitcoin company, Centbee, announced today that it has closed its Series A round with entrepreneur Calvin Ayre, founder of Antigua-based investment firm, Ayre Ventures and CoinGeek. Ayre, who has invested £1 million (R18.3 million), announced that, “Centbee has a track record of making Bitcoin easily usable and accessible to everyone including merchants and consumers. They support the original Bitcoin protocol in the form of Bitcoin SV, and have demonstrated an extraordinary ability to attract users and we’re proud to support their further growth.”

The deal was facilitated by nChain, leading blockchain advisory, research and development firm, which previously took an equity stake in Centbee in January 2018.

Jimmy Nguyen, Chair of nChain Group’s Strategic Advisory Board and Founding President of the Bitcoin Association (which advances Bitcoin SV’s global ecosystem) remarked: “Centbee has one of the most user-friendly Bitcoin wallets and merchant payment solutions we have seen. It is built using the original Bitcoin protocol, now alive only in the form of Bitcoin SV, which has a plan for massive blockchain scaling. This enables Centbee to offer low fees and fast transaction speeds. We will continue to work with Centbee as it sparks greater merchant and consumer adoption of Bitcoin BSV in Africa and worldwide.” 

Ayre’s investment is part of a broader collaboration to advance the Bitcoin SV ecosystem.  nChain will also support Centbee with its technical consulting services and access to its vast intellectual property portfolio (which is aimed at benefiting growth of the BSV blockchain). 

Centbee is a Bitcoin wallet provider that makes it easy for consumers to acquire, store and spend Bitcoin with retailers and other merchants.  Centbee supports Bitcoin SV because it is the only blockchain that fulfils the original Bitcoin design and protocol.  Based in South Africa, Centbee was founded by co-CEOs, Lorien Gamaroff and Angus Brown. Gamaroff is a leading expert in blockchain technologies and cryptocurrencies. He has consulted and advised regulators and corporates internationally and is highly regarded globally as an educator and presenter. Brown has 20 years’ experience in payments and banking including the role of CEO of eBucks.com, a world-first bank-backed digital currency created in 2000.

 “Centbee has made it easy for customers to buy Bitcoin SV easily at over 50 000 till points in South Africa,” says Brown. “Through this, we will help people move money simply and cheaply across borders to support family and friends. The investment will be used for product development, scaling and growth.”

 Gamaroff is pleased with the progress made over the last few months at Centbee, “Our development roadmap is well defined with exciting payment and remittance products coming to market this year. We look forward to the next phase in our growth and development.”

Centbee is a gold member of AlphaCode, powered by Rand Merchant Investment Holdings, which identifies, partners and grows disruptive and scalable fintech businesses. Head of AlphaCode, Dominique Collett said: “We are delighted that Centbee has attracted the interest of two of the world’s most prestigious investors in the cryptocurrency and blockchain space. It certainly augurs well for the growth and development of Centbee and Bitcoin SV globally.”

The Centbee Wallet is available in the Apple and Google Play stores.

For Centbee and AlphaCode media enquiries: Michelle K Blumenau michelle@turquoisepr.co.za or call +27 83 273 9891.

For Calvin Ayre and Ayre Group media enquiries:  Ed Pownall at ed@pownall.edu

For nChain media enquiries: media@nChain.com

ABOUT AYRE GROUP:  Founded by entrepreneur Calvin Ayre, the Ayre Group has investments and interests across the world. With a passion for content and publishing, fintech, real estate and property in seven countries around the world, Ayre Group supports and drives the world’s most disruptive innovations.

Website:  ayre.ag

ABOUT NCHAIN GROUP: The nChain Group is the global leader in advisory, research and development of blockchain technologies.  Its mission is to enable massive growth and worldwide adoption of Bitcoin SV, the original Bitcoin protocol as represented in Satoshi Nakamoto’s whitepaper – focusing on Bitcoin SV as the true Bitcoin. 

Website:  nChain.com

ABOUT CENTBEE: Centbee is a fintech startup based in South Africa, that builds products and services that make it easy to send, store and spend Bitcoin. Their vision is to help users pay for real-world goods and services using Bitcoin payment processes. The Centbee wallet, available in the App Store and Google Play store, enables the purchase of Bitcoin SV at till-points in over 50 000 retailers across South Africa. Centbee Remit makes it easy to send money across borders in less than one minute.

Website:  centbee.com

ABOUT BITCOIN SV: Bitcoin Satoshi Vision (BSV) is the only Bitcoin implementation that follows the original Satoshi Nakamoto whitepaper, and conforms to the original Bitcoin protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

Website: bitcoinsv.io

ABOUT BITCOIN ASSOCIATION: Bitcoin Association is the leading global organization for Bitcoin business. It brings together merchants, exchanges, application developers, enterprises, miners and others in the Bitcoin ecosystem to advance the growth of Bitcoin commerce. Bitcoin Association supports Bitcoin SV (BSV) as the original Bitcoin. As an inclusive organization, it welcomes companies and organizations who support or wish to learn about BSV and Satoshi Vision, even if you also support other cryptocurrency or blockchain projects.

Website:  https://bitcoinassociation.net/

UPCOMING:  COINGEEK TORONTO CONFERENCE – May 29-30, Toronto, Canada

Come learn more about what Bitcoin can do with “No Limits” and the latest on-chain scaling developments with Bitcoin SV at the CoinGeek Toronto conference May 29-30.  It’s easy to register.  And pay with the world’s new money and you’ll receive a discount by using BSV via Coingate.

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Written by CentbeeDecember 7, 2018

Centbee updates to Bitcoin SV, the original Bitcoin protocol

Our aim at Centbee is to provide a reliable, safe and user-friendly Bitcoin wallet for people all over the world. We believe that the original Bitcoin protocol, as defined by its inventor, Satoshi Nakamoto, is the most secure and stable cryptocurrency. We’re fully committed to building value for our customers using the most sustainable blockchain – Bitcoin SV.

The 15th November scheduled software upgrade to Bitcoin cash (BCH) was contentious, causing disagreement within the Bitcoin cash community. As a result, Bitcoin cash (BCH) split into two separate coins. Cryptocurrency exchanges around the world have differentiated the two coins using the ticker symbols BCH (Bitcoin ABC blockchain) and BSV (Bitcoin SV blockchain). Right now, both coins can be sent between BCH and BSV wallets using the different software implementations, but that may change.

We believe that only the original Bitcoin protocol has the technical and economic fundamentals to become global money and so we will only be supporting Bitcoin SV (BSV). Users who held Bitcoin cash (BCH) in their Centbee wallets on 15th November 2018 now have two coins, BCH and BSV. The two coins trade at different prices on cryptocurrency exchanges. In the transition period between 15th November and 4th December 2018, your Centbee wallet displayed the weighted average price of these two coins, labelled as BCH in the exchange rate indicator at the bottom of the home screen. This was creating confusion for customers. On 4th December 2018 we updated the exchange rate indicator, labelling the coins as BSV. Even though the label has changed, you still have the same amount of both coins (BCH and BSV) in your wallet.

Many customers want to make use of both coins (BCH and BSV). In order to access both coins, you need to ‘split’ them by sending them from your Centbee wallet to a cryptocurrency exchange or wallet that offers a ‘splitting’ service. Centbee is not affiliated with any specific service and so it will be up to the customer to choose a reliable service they feel comfortable with. Centbee cannot be held responsible if a service selected by a customer fails to satisfy their requirements. Do not provide anyone with your Centbee PIN, or your 12-word ‘mnemonic’ (secret phrase)! Remember to send your BSV coins back to your Centbee wallet after splitting them.

Centbee will continue to support the original Bitcoin vision as represented by Bitcoin SV and coins held in our wallet will be secure.

Our friendly Support Team is available to help in any way they can and can be contacted through these channels:

Email: support@centbee.com

Twitter: @CentbeeSupport

Telegram: https://t.me/centbee

Keep your Centbee wallet updated with the latest software version because we’re launching a number of great new features soon so that we make Centbee the easiest way to store, spend and send Bitcoin.

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Written by CentbeeNovember 5, 2018

The November 2018 Bitcoin Cash Consensus battle

Bitcoin is a remarkable technology with great promise. It has the potential to bring financial stability to global markets, to enable an environment where people can exchange value with minimal friction and to ensure that monetary hyperinflation is finally relegated to history.

It has not, however, been a smooth journey. Bitcoin is an economic system and truth in the “dismal science” is always subject to opinion.

The Bitcoin community split in two in August 2017 because of a difference in economic opinion. There are now two histories being played out between the Bitcoin Core (BTC) and Bitcoin Cash (BCH) communities but the dust has by no means settled.

While those in the BTC camp work on building a framework for “digital gold” the BCH community have been striving hard to maintain the vision of a peer-to-peer digital cash system that was outlined in Satoshi Nakamoto’s 2009 White Paper. Both communities have the same goal in mind which is to create a fair system of sound money. Only one, or neither, will succeed.

Divining the future of these two different experiments has become the past-time of countless social media “thought leaders” and many enjoy a following of thousands. Choosing the right blockchain and investing, or HODLing, wisely could mean the difference between owning “lambos” or getting “rekt”. So, it is imperative to pick a pundit that demonstrates deep insight and a gilded gift of the gab.

This is, however, rather difficult since no precedent for blockchain-based currencies exists prior to 2009. Does this mean that it’s anybody’s guess? Is there enough between the pages of Keynes and Mises that could lead one to pick the right pony? Does one need a masters degree in finance and a doctorate in computer science to have the vaguest notion of viability?

Blockchains are new but there is a technology staring us in the face that plainly demonstrates what is required to provide a foundation for a new economic system. The Internet itself.

We have learned, in the almost 3 decades of its existence, that the most important feature of a foundational system is that it remains stable. Without a stable foundation anything built upon it becomes fragile. If the protocol that underpins the internet had been subject to change all the businesses and applications that have been built on top of it over the years would have had a hard time rolling with the changes.

Money is no different. Without a stable protocol that defines the rules and sets them in stone the money that is created upon it becomes unsound by definition. It can then be subject to the whims of central planners, a community or “the best developers in the world”.

If we are to believe in the notion of sound money, money we can trust and that stands the test of time, we must believe in a sound foundation for it to be built upon.

Satoshi Nakamoto, in his insight, declared that “once version 0.1 was released, the core design was set in stone for the rest of its lifetime”. This was a pronouncement of the understanding that for Bitcoin to be considered sound money it must be unchangeable.

There are many in the Bitcoin communities that do not understand or who wilfully reject this core principal. They certainly have every right to their opinions. But if we are to pursue the basic ideal of sound and stable money then we must resist those who seek to undermine it.

On the 15th of November 2018 a battle will play out in the Bitcoin Cash community between those that understand the principals of sound money and those that don’t. On one side there are those who believe that having a foundation that morphs and evolves is a good thing. This side is represented by the Bitcoin ABC implementation. The rest that seek a sound framework are represented by Bitcoin SV. Many fear that another split will occur which will divide the chain yet again.

This is unlikely.

Instead we will all get to witness the process of Nakamoto Consensus which was described in Satoshi’s white paper. The process that arbitrates disputes through economic incentives and makes clear which path leads to greater economic benefit for all.

I seek a world of sound money and so I support Bitcoin SV.

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Written by CentbeeOctober 19, 2018

Now you can buy beer with crypto, thanks to CoinGeek and friends

For the launch of their new City of London bar, Brewdog, the Scottish brewery and pub chain, wanted to let their customers pay with Bitcoin Cash. So together with CoinGeek and wallet-provider Centbee, Brewdog helped their first guests to download a wallet and then gave them free Bitcoin Cash (BCH) to put in it and spend at the bar.

 

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Written by CentbeeJune 21, 2018

Centbee Alpha Release

Johannesburg — Thursday, 21 June 2018:  We’re proud to announce that Centbee is available in the Google Play store in OPEN ALPHA. We’re making Centbee the easiest way to store, spend and send Bitcoin cash safely on your mobile phone and we know our fans can’t wait to download it, play around with it and let us know what you think!

Get Centbee in the Play store here

Our open Alpha version of Centbee uses TESTNET coins so that you can try it out without having to put in real Bitcoin cash.

Get your FREE TESTNET coins by sending an email with the subject “Buzz me!” and your Bitcoin cash ‘RECEIVE’ address to support@centbee.com and we’ll send TESTNET coins (demo money) to your Centbee wallet so that you can play around with the app.

It only takes 2 minutes to let us know what you think. Fill in the survey here

Download the app now and send us your feedback!

Some reminders: This app is in ALPHA RELEASE. The Centbee Alpha app uses TESTNET coins instead of real Bitcoin cash. This is so that our fans can try it out and let us know what they think, without using their actual Bitcoin cash coins. Do not send real Bitcoin cash to your Centbee wallet, only use your TESTNET coins.

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Written by CentbeeMay 18, 2018

Centbee, SA-based merchant payment ecosystem….

Hong Kong – Friday, 18 May 2018: nChain and Centbee announced a partnership today which will ensure the speedy development of a merchant PoS software development kit (SDK) for the worldwide market. This SDK is an open-source set of tools, processes and interfaces that software developers and system integrators can use to enable retailers to easily and quickly accept Bitcoin cash at the till-point. The announcement was made at the 1st ever CoinGeek conference, focused on merchant adoption of Bitcoin Cash and growth of a new bCommerce (Bitcoin commerce) world.

Angus Brown, Centbee co-CEO explains, “Merchant acceptance of Bitcoin has been very limited to date. We announced earlier this year that we would roll out mechanisms for merchants to accept Bitcoin cash payments without exposure to price volatility and without installing new terminal hardware. This SDK is that global payment system.”

The project is funded by nChain to promote its vision of making it easy for everyone to use Bitcoin Cash for payments. Bitcoin Cash fulfils the original vision for Bitcoin as a peer-to-peer electronic cash system specifically built for worldwide transactions.

nChain Group CEO Jimmy Nguyen remarks: “As Centbee has focused on user-friendly Bitcoin wallets and merchant payment solutions we have partnered with them to ensure retailers can accept Bitcoin Cash at in-store points of sale for goods and services. This SDK will make it easier for merchants, through their PoS systems, to join the world of bCommerce. Centbee smartly embraces Bitcoin Cash because of its bigger blocks, low fees and fast transaction network represent the true vision of Bitcoin.”

Dominique Collet, Head of Alphacode, a club for fintech entrepreneurs powered by Rand Merchant Investment Holdings comments, “We are really excited about what Centbee is doing – helping crypto go mainstream and providing real-world transactional capability. The Centbee origin story is also a great one as Lorien and Angus met at Alphacode. This is a great example of how putting smart people in a room together can unlock creative new ideas and hopefully spawn large, successful businesses. This was the premise of establishing Alphacode as a fintech community – to stimulate the development of the next generation of financial services entrepreneurs.”

Last year, Centbee successfully piloted the acceptance of Bitcoin payments at retail points of sale.

In January 2018, nChain’s investment arm, nChain Reaction, made an equity investment in Centbee.

Based in South Africa, Centbee was founded in 2016 by co-CEOs, Lorien Gamaroff and Angus Brown. Gamaroff is a leading expert in blockchain technologies and cryptocurrencies. He has consulted and advised regulators and large companies internationally and is highly regarded globally as an educator and presenter. Brown has 20 years’ experience in payments and banking including the role of co-founder and CEO of eBucks.com, a world-first bank-backed digital currency created in 2000.

Centbee is a gold member of AlphaCode, the fintech investment arm of Rand Merchant Investment Holdings.

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Written by CentbeeFebruary 4, 2018

nChain Group takes equity stake in Bitcoin wallet project

The value that traditional aid and charitable organizations can provide is all too often diminished by the weight of their financial systems, deeply rooted in the very nature of their organization. Trust, high costs of administration, transaction fees… deter people from engaging these organisations. Meet cryptocurrencies: these decentralised digital currencies offer far more opportunities and directly touch the lives of people around the world, frictionlessly and with no need for intermediaries.

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