Cubebucks is a virtual currency developed on blockchain technology that fixes the value of the qb digital currency to value in your local market against the price fix of gold on the London Metal Exchange against the dollar. The FinTech firm seeks to balance accounts in a combination of bank currencies, Bitcoin and gold reserves, that will secure the exchange ability of Cubebucks for Bitcoin or Vanilla currency value.
- FinTech Africa | 14 March 2017 | Future of Payments Event | REGISTER NOW
In his pitch at the African FinTech Awards at the Finance Indaba Africa 2016 in October, Cubebucks CEO Jan MacKay explained how a crop circle in the UK inspired him to found the FinTech, which holds proprietary digital currency that is based on a number of commodities, including gold, platinum, silver and BitCoin and solves the problem of making payments online without the use of a credit card. Direct cash loading available via more than 500 000 small retail point of sale devices in 160 countries.
"Our initial brainstorm session saw us come up with 45 pages of information and target a solution to digitise money - an on-ramp system that will allow you to use R100 online as if it was cash, an easily accessible storage system and one that allows for micro-transactions at low cost, along with a storefront to connect with service providers, especially content and media services."
The African FinTech Awards celebrate innovators that shape the future of finance, and acknowledges the work these companies are doing to have a positive impact on their target markets. The nominees were chosen by a panel of industry experts, stakeholders and investors from all over the world, who selected the three finalists in six categories to deliver their pitch at the Indaba.
The Finance Indaba is the biggest annual event on the continent for financial managers and specialists who are seeking partnerships to drive progress. Thousands of delegates will gain valuable insights into realising financial performance and growth, becoming more efficient and accessing funding, among a host of other opportunities from leading players in financial services.
