With blockchain-powered technologies going on strong, there is a bit of a looming threat, for current businesses and industries that are running on traditional systems. There seems to be a blockchain alternative for almost everything, from PayPal to Amazon, even Netflix has blockchain-based competition. It’s evident that startups operating on the new technology are looking to make their place into our daily lives by replacing our current go to applications.
However, interestingly enough, there is a blockchain-powered startup, which instead of trying to replace a current app, is actually collaborating with it. A company, Lite.IM, is giving Facebook users a way to securely send and receive crypto, through Facebook Messenger. And while you might be slightly skeptic considering Facebook’s shaky history with privacy, the startup itself claims that all the sensitive information is in fact kept private. Furthermore, the chat records are never stored by the company and with secure password forms and advanced private key encryption, third parties like Facebook are blocked from seeing any sensitive information that could lead to funds being compromised.
Currently Lite.IM’s bots support only a handful of cryptos, four to be exact, which include, Bitcoin, Ethereum, Litecoin and its own native currency, ZTX. The company is actually driven by the vision of what would the world look like if the founding ideals of the cryptocurrency revolution were actually realized. As in, what would it be like to live in a place where everyone has the ability to enjoy financial freedom, regardless of where they come from and their technical skills.
The company’s presence on the Facebook Messenger is actually pretty recent and is the latest milestone achieved by Lite.IM. Initially, its service was made available through Telegram along with good old-fashioned text messages. Kind of ironic, but Lite.IM didn’t seem to mind the association with something as traditional as text messages. In fact the company behind the Lite.IM project, Zulu Republic, revealed that the support for text messages has been essential in fulfilling its ambition, solely because it allows anyone, even with the most basic mobile phone to control their cryptos, with or without the access to Internet.
The rather recent launch on Facebook Messenger implies that Lite.IM is far ahead of Facebook in the game of crypto payments, despite the rumors that had been going on about Facebook preparing to create a cryptocurrency for money transfers.
The reason behind choosing the social media giant was in fact based on a research that showed that the typical consumer only used about nine apps per day. The company wanted to connect to the users directly on the apps that they were already used to and spending most of their time on, as opposed to introducing a new app to them.
With each new update, Lite.IM becomes more and more of a user-friendly cryptocurrency powerhouse, moving us closer and closer to widespread adoption. We’re proud to be bringing the world’s most popular cryptocurrency to the combined 2.5 billion users of Facebook and Telegram, not to mention all those who lack dependable Internet access that can now manage Bitcoin via SMS messaging.
Said the team behind Lite.IM in a recent blog post.
According to the Lite.IM’s team, the company is geared to release a ton of new features in near future. The new features will see its bots deployed on newer platforms and they will be supporting a greater number of cryptocurrencies.
