Hello everyone!!!

I would like to introduce a project that we have been working on for a few months now.

The phrase "peer-to-peer electronic cash" will not be enough to onboard majority of the people around the world, especially in India where I live. We need more than that and I believe that by providing really good utility based services we can attract more people to use Bitcoin Cash.

Brief History

I initially wanted to build an e-commerce website where people could buy products from other websites such as Amazon, Alibaba, Flipkart etc.. (similar to what purse.io does) and pay for it with Bitcoin/Bitcoin Cash but 2 months into building the app, the central bank of India issued a ban on cryptos and it affected all companies involved as they had no access to banking solutions within the country.

This is when a lot of the p2p exchanges popped up in India, but all of them were focused only on traders. There were no platforms where an ordinary non-crypto user could get some Bitcoin Cash without having to go through the KYC/AML or do something like - Buy USDT first through the p2p exchange then send the USDT to a crypto exchange where they can buy Bitcoin Cash and then send the BCH back to their wallet :|

Yes, that was the best way to get some Bitcoin Cash in India until last year when Bitcoin.com launched local.bitcoin.com where one could buy/sell BCH easily without any KYC. But since LBC is focused on privacy, its not as user-friendly as a regular user would want.

Impressed by the blind escrow system that Bitcoin.com built, I started working on a new project that uses a similar smart contract.

Zapit

Zapit is a bitcoin cash wallet with non-custodial peer-to-peer services integrated into it.

As the wallet is primarily targeted at the non-crypto crowd, we are focused on providing good user experience with a good user interface rather than just filling up the wallet with a lot technical features that most of the users will never use.

Having an easy way to "top-up" a wallet or "withdraw local currency" within the app is very important rather than asking users to "BUY" or "SELL" Bitcoin Cash as they would have to leave the wallet and go to a different app or a website to do so.

If people think that they are "Buying" Bitcoin Cash, they start treating it as a product rather than a tool that can be used to buy and sell other products/services. This is when phrases like "Store of value" or "Trading Asset" starts making sense to users because they think that they are buying a Product that they can sell later for a higher price.

Zapit will have these services built into the app. But these services are going to be non-custodial and peer-to-peer while having the experience of centralised service.

So initially we are going to start off with 3 basic services:

1. Top-up Wallet

2. Withdraw Local Currency

As I already mentioned one can top-up their wallets and withdraw back to local currency within the app. We are going to have a peer-to-peer market where the buyers and sellers will be matched to each other based on whether they are trying to top-up or withdraw back to local currency.

The way we want to attract liquidity for these services is by having a concept of "Payment Partners" where traders/exchanges/liquidity providers earn a % of the service fee for instant exchange. Most of the traders don't care about a particular cryptocurrency, they just want to make more money by trading , so by offering them a platform where they can facilitate orders and earn a % on their trade, we believe there would be enough liquidity and also help with instant transfers.

3. Remittances

Most of the crypto remittance companies that we have come across requires you to either send crypto to them and in turn fiat would be sent to the receiver or they would send fiat and the receiver gets crypto or some combination like that.

On Zapit the entire process of acquiring BCH, sending it across to a different country where it would be withdrawn back to fiat by the receiver is automated which allows for easier remittances without the user having to interact with BCH directly. So we can tap into a larger non-crypto user base by providing this service which could further increase liquidity for the peer-to-peer market.

So essentially what you will be able to do with Zapit is:

• Bitcoin Cash to Bitcoin Cash (Native BCH Wallet)

• Fiat to Bitcoin Cash (Topup)

• Bitcoin Cash to Fiat (Withdraw)

• Fiat to Fiat (Remittance)

Thus Universal Payment App!

We will be working to provide more services like this (such as a payment processor) which could improve the lives of people around the world.

The app is in alpha stage now and if you are into developing or marketing & interested to join the project you can write an email to contact@zapit.io, we are looking for people who would like to help take the project further.

We are also looking for the bitcoin cash community to help test the app in the early stages. If you are interested you can send a message on twitter @zapit_io.

And for investors we are looking for funding to help launch our product.

Thank You.