BitMari Enters Beta Testing Phase, To Hold Meet-And-Greet Event Today

BitMari, a bitcoin-based remittance service in Zimbabwe, is now moving to beta testing phase, following few months of preparatory work, Coinfox reported.

“Wallet now in beta testing, your own bitcoin wallet to help you send and receive money with ease”, the website reads.

The company will launch its services in Zimbabwe as soon as it meets the legal requirements in the country and could expand to other African countries. It has capped its transaction fees at 5%.

TechZim reported that today BitMari will hold a Meet-and-Greet event at the Rainbow Towers in Harare, starting at 5.30 pm.  The event is open to the public and aims to offer interested parties an opportunity to know more about the company as well as digital currency Bitcoin with an emphasis on exploring the opportunities that can come from using the service.

The company explains that its name “BitMari” has been derived from 2 words, Bitcoin and Mari. Mari is a Shona word (Zimbabwean language) for Currency or Money.

“We combined the disruptive technology of Bitcoin and the ancient concept of Mari to create a system where Africans in the diaspora can send their money home”, the blog post read.

Zimbabwe has been trapped in economic crisis for years now. Coinfox noted that from 2004-2009, the country experienced hyperinflation, with the Reserve Bank printing “One hundred trillion dollar” banknotes. Since 2009, it does not have a currency of its own.

Explaining reasons for selecting Zimbabwe, Skinner said, “Zimbabwe was selected because of its high literacy rate, high cellphone penetration, high mobile banking usage and most importantly willingness to adopt new economic systems… A 10-year-old child in Zimbabwe knows more about FOREX than most adults in Europe and U.S.”