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BILLON SIGNED

Disrupting the economy – FinTech blockchain solution revolutionises direct payments. Secure, low-cost and simple bank-free payments for everyone

Total Cost €

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EC-Contrib. €

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Partnership

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 BILLON project word cloud

Explore the words cloud of the BILLON project. It provides you a very rough idea of what is the project "BILLON" about.

disruptive    media    cryptocurrencies    smartphone    business    uk    blockchain    sandbox    ecosystem    corporate    online    unbanked    proposition    centralised    model    ongoing    fees    fca    too       room    pilot    financially    introducing    excluded    cash    solved    billion    clients    billon    banks    sme    profit    arises    transferred    ledger    performance    free    bank    customers    payments    2019    regulations    social    segments    bitcoin    revealed    regulatory    manner    rejected    compromise    mln    regulated    trials    worth    first    specialists    citizens    ultra    expand    bln    technological    architecture    distributed    mass    transactions    services    accounts    market    digitalise    lite    million    165    security    gbp    globally    disruptiveness    eur    disrupt    limitations    banking    400    instrument    engagement    difficult    apparent    payouts    poor    alternative    exclusion    agreements    compliance    poorest    finishing    europeans    financial    volume    maintenance    pln    industry    currencies    digital   

Project "BILLON" data sheet

The following table provides information about the project.

Coordinator
BILLON SPOLKA Z OGRANICZONA ODPOWIEDZIALNOSCIA 

Organization address
address: ALEJA JANA PAWLA II, NO 27
city: WARSAW
postcode: 00-867
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country Poland [PL]
 Project website https://billongroup.com
 Total cost 2˙800˙000 €
 EC max contribution 1˙960˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-2-2016-2017
 Funding Scheme SME-2
 Starting year 2017
 Duration (year-month-day) from 2017-08-01   to  2019-11-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    BILLON SPOLKA Z OGRANICZONA ODPOWIEDZIALNOSCIA PL (WARSAW) coordinator 1˙960˙000.00

Map

 Project objective

The number and volume of non-cash transactions has been increasing in the recent years, which makes the technological limitations of the existing IT systems more apparent than ever. The low performance of the centralised IT architecture increases the maintenance cost, that are transferred to customers. The European Commission revealed that growing bank fees are leading to financial exclusion of the poorest citizens. It is estimated that 2.5 million Europeans who applied for the bank account have been rejected for being too poor. The technological issues of centralised IT systems are too difficult to be solved without making a disruptive change in the banking industry. When the regulated services cannot be offered, there is a room for non-regulated products which compromise on financial market security, e.g. cryptocurrencies like bitcoin. Our value proposition is Billon - a distributed ledger technology for creating free current accounts enabling making ultra-low cost payments with real currencies (EUR, GBP, PLN) in a regulated manner. The disruptiveness of Billon arises from:(1) distributed architecture developed on blockchain by our specialists, (2) compliance with the EU regulations upon the agreements with banks and ongoing FCA Regulatory Sandbox in the UK. After introducing the first free current account in a smartphone and finishing pilot trials with our business partners, we apply for the SME Instrument to expand the Billon ecosystem. The proposed project is addressing market segments of mass payouts for corporate customers and social & media online payments for online users. Billon is aiming to disrupt the market of alternative payments, which will be worth $1,400 billion in 2019. Our business model is to make profit on corporate customers, willing to enhance digital engagement of their clients and digitalise business processes. It will enable us to offer ‘lite’ current account for free to unbanked and financially excluded (165 mln in Europe, 2 bln globally).

 Deliverables

List of deliverables.
Electronic Money Institution license for Billon Other 2020-03-11 14:44:05
Promotional toolkit Other 2019-08-30 14:50:02

Take a look to the deliverables list in detail:  detailed list of BILLON deliverables.

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The information about "BILLON" are provided by the European Opendata Portal: CORDIS opendata.

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