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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.

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

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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