Zimbabwe Digital News
Bitkesh is a peer-to-peer blockchain-based platform that allowws users and clients to quickly and easily send money to receipients throughout the world, from the comfort of one’s home or office.
Bitkesh Zimbabwe has hit the ground running since it’s launch, has made the process of money transfers less hectic, and more convenient for hundreds of its clients.
After announcing that the company had opened its first office in Sandton, Zimbabwe Digital News this week caught up with Bitkesh co-founder Reginald Tsvetu. This is what he said:
1. For someone who may never have heard of Bitkesh, in brief, what do you do?
Bitkesh brings convenience to remittances and cross boarder payments, by eliminating the middle man the platform has cut down the amount of time as well as the costs usually involved in the process of sending money across boarders.
Bitkesh has managed to provide a platform that matches funds moving in opposite directions between countries.
In essence funds do not actually cross boarders, but the platform is a secure place that ensures smart contracts that allow people on either side to settle transaction obligations for each other.
2. What are some of the challenges that you have encoutnered in rolling out Bitkesh, both from a Zim perspective, and from an SA/diaspora perspective? How have you applied innovation to solve those challenges?
Challenges have included technical, legal, financial aspects of the project.
Bugs have been encountered which resulted in us loosing money, block chain technology uptake has been slow and regulators have sometimes taken measures to ban all blockchain related projects, we have also had a tough time trying to secure funding to improve on the product and upscale.
Another challenge we faced was that people were skeptical about the bitcoin aspect of the product, at a time when crypto currencies were receiving a lot of negative publicity, there was need to educate people, this is also when we created our own pseudo currency called dcxi and we had to reword our communique that previously refered to bitcoin,
3) Without talking politics, what changes/adjustments to Zimbabwe’s monetary policies would you expect from the new Minister of Finance of Zimbabwe, in so far as your line of work is concerned?
We as Bitkesh expect a more lenient position from the new administration, one that seeks to think outside the box in as far as what the way forward for Zimbabwe would be considering the financial challenges people are facing.
There is need to do away with restrictive policies which stifle innovation, need for a homegrown solution that practically caters to the monetary needs of the populace and allows them to send money and receive money with increased convenience and efficiency.
4. How significant is it to have a physical office, given that most innovative and emergent businesses are no longer your ordinary brick-and-mortar businesses?
The line of business we’re in requires that people trust us. One way of developing trust is by delivering on promises as well, getting physical offices has added to the growing trust that has developed between us and people that use our services.
People want to know where they will find you in the event that their money doesn’t reach the intended recipient so it has been very important for us to strive to build on that trust.
5) What next for Bitkesh after the opening of the Sandton office?
Growth Growth Growth, we started at the beginning of the year and we have been taking baby steps, growing organically through the months.
The establishment of the offices in Zim and SA is a huge step for us and we celebrate it. We have received a lot of enquiries from our beloved brothers and sisters in the UK and plans are In place to setup office for them too.
Bitkesh is here to stay and the track record speaks for itself. Everyone that has tried us hasn’t left and that’s always a good sign. We intend on ending the year on a high note.
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