Zulu Republic is taking decentralised technologies up a notch, with a Litecoin based text service payment system called lite.im. Messaging is just about the whole world’s favourite form of communication nowadays. From teens messaging their friends to plan a night out to business people discussing financials with their partners, they all use text messages cause they are faster than a voice call.
The best part about lite.im is it can be used by anyone, even by people who don’t have access to the internet. The Litecoin based payment service will allow people to send and receive funds through Sms’s or the popular cloud-based text messaging platform Telegram thanks to blockchain technology.
Telegram is ideal for payments thanks to the perfect proof of concept environment. Hence the payment structure will first be introduced through Telegram. The plus side of Telegram is the success it already has amongst cryptocurrency enthusiasts which will lead to the constant use of the Litecoin payment service.
Telegram holds privacy very high and thus will be the best platform to start initiating the litecoin.im.
SMS was the first method of messaging before internet-based Whatsapp came into the picture. Thus for countries that don’t have internet services spread across, it gives a chance to send Litecoin to people at any time. The added benefit of litecoin.im is that it provides an opportunity for people who have no idea how to use cryptocurrency.
You might think that everyone carries around a smartphone, however according to official statistics about 64% of the global population has a mobile phone with only 33% having smartphones. Hence the SMS feature for litecoin.im will bring into light cryptocurrencies to a whole population that is not yet exposed to the ease and security of payments through it.
Zulu will use a backend Litecoin API system for text commands to be utilised. The first version is already available through Telegram and can be used right away through a Litecoin Bot which reveals the balance of your Litecoin along with the Litecoin address for receiving and sending Litecoin.
Zulu is stepping into new dimensions through Litecoin. Litecoin is already making its mark in several ways, just last month the founder of Litecoin Charlie Lee acquired Tokenpay’s 9.9% stake in Germany’s WEG Bank in return for helping TokenPay with marketing and technology.