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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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 Outcomes and results

 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.

fca    165    billon    ledger    compromise    volume    400    digital    technological    difficult    ecosystem    1    too    eur    mass    trials    worth    unbanked    ultra    cryptocurrencies    expand    transferred    ongoing    accounts    online    compliance    arises    regulated    gbp    room    pilot    instrument    exclusion    solved    disrupt    disruptiveness    free    apparent    million    distributed    model    globally    banks    financial    payouts    uk    digitalise    sme    sandbox    engagement    mln    specialists    introducing    fees    proposition    smartphone    alternative    regulatory    segments    lite    pln    transactions    first    finishing    citizens    2019    industry    corporate    clients    financially    bitcoin    banking    customers    europeans    poor    profit    blockchain    business    disruptive    maintenance    performance    billion    media    bln    poorest    architecture    agreements    bank    currencies    services    revealed    payments    rejected    market    security    regulations    social    limitations    centralised    excluded    cash    manner   

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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