menu

Brick-And-Mortar BitCoin Store Helps People Manage Digital Currencies

Brick-And-Mortar BitCoin Store Helps People Manage Digital Currencies
Innovation

The first financial services portal for the digital currency opens up in Cyrus.

Serena Chu
  • 25 february 2014

Neo & Bee is the first financial services portal for Bitcoin. Recently opened in Cyprus, this flagship branch aims to provide customers with bank-like services, including deposit, savings, business and merchant accounts. The establishment seeks to simplify the way people use this crytocurrency and wants to help them “interact with their money like they would with Euro deposits in any traditional bank.”

According to Danny Brewester, CEO of Neo, the system is essentially two separate brands that fall under the same roof. Neo is a bank-without-a-bank reserve that grants customers access to accounts that have a fiat value limit or ones that offer “full exposure to the bitcoin price level. Bee functions like a bitcoin-based debit card system that offers merchants faster settlement processing times, lower fess, and no chargebacks.

Both Neo and Bee systems are in compliance with banking laws and regulations, but are free from the influence of the EU Central Bank.

To help people deal with Bitcoin’s technological complexities, Neo has launched three products that enable people to access the currency’s benefits without being worried about security or other complications. The Instant-Access Bitcoin Wallet is offered as a standard way to store funds, which will be given in the form of a Bee card and can be used at retail locations within the country, as well as “through existing Bitcoin payment gateways.”

For people concerned with Bitcoin’s volatility, the Time-Locked Wallet will allow them to hold onto their digital money for a pre-determined amount of time. This type of holding allows customers to convert funds back to Euros on an agreed-upon date under a protected exchange rate. The Merchant Wallet is specifically for people who would wish to accept Bitcoin payments during business transactions.

The adoption of such a digital currency system could remedy the recent economic problems in Cyrus, and establish Bitcoin as a secure alternative to fiat currencies.

Neo & Bee

Source: Coindesk, NewsBTC

 

 

 

Innovation
Trending

Lyft Gives Free Rides To Those Who Have Had Too Much To Drink

Advertising
Syndicated Yesterday

Banned Books Week Urges People To Seek Out Controversial Works

Joining the annual celebration of the right to read, US author Jessica Herthel called for 'more information, more voices' to protect diversity

Augmented & Virtual Reality Yesterday

Outdoor Camp Presented In 360° VR By X Games Gold Medalist

The video features campers riding BMX trails, zip lining through the woods, and performing big-air jumps

Trending

Get PSFK's Related Report: Future of Automotive

See All
Travel Yesterday

Boeing Wants Passengers To Control Their In-Flight Experience Through Their Phones

The airline manufacturer is embracing automation through a new generation of mobile travel apps

Augmented / Virtual Reality Yesterday

VR Surgery Videos Offer Interactive Medical Education

Dutch startup MDLinking hopes to globalize communication between students and medical care professionals with virtual reality content

Related Expert

Mona Hamouly

Social Media Marketing

Culture Yesterday

Use Twitter To Learn A New Language

tDict is an app that uses the social media platform to help you search for words in local dialects

Mobile Yesterday

This Startup Wants To Digitize The Loose Coins In Your Pocket

CoinOut is a new app that lets you save your extra change from cash transactions as electronic funds

Advertising Yesterday

McDonald’s Is Accepting Trash As Currency In Exchange For Burgers

An initiative in Stockholm is trying to keep streets clean while satisfying hunger

PSFK LABS REPORT

Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry
NEW

PSFK Op-Ed september 21, 2016

Creative Agency Founder: Using VR As A Race Relationship Tool

Maurice Bernstein, CEO and Founder of Giant Step, explores the value in transforming headsets from high-tech entertainment tools into empathy machines

PSFK Labs september 22, 2016

The Future Of Work: Why Innovation Is Every Employee’s Job

PSFK Labs sits down with management at Johnson & Johnson to learn how the company comes up with their next ‘big idea’

Culture Yesterday

Google Is Using Virtual Paper Airplanes To Bring People Closer Together

The tech giant released an app that lets people throw their good wishes out into the world on the International Day of Peace

Advertising Yesterday

Get Paid For Traveling In San Francisco After Rush Hour

BART Perks rewards commuters who take early or late trains by giving them extra points to trade for money

Culture Yesterday

Artist Designs Covers For Books That Don’t Exist

Published by the fictional 'Specious Books,' the subversive works facilitate a conversation regarding the artistic integrity of graphic designers

Work Yesterday

Editorial Roundtable: The Arrival Of The People-First Workplace

Managed By Q, Soma, Workbar, Primary, AltSchool and thinkPARALLAX enumerate the reasons why companies need an employee-embracing workforce in order to exist

Food Yesterday

Bringing Food Innovation To America’s Crowded Milk Market

a2 Milk's Blake Waltrip, Chief Executive of the USA region, discusses how the distributor plans on bringing the popular drink for the dairy-sensitive to the States

PSFK LABS REPORT

Future Of Work
Cultivating The Next Generation Of Leaders
NEW

Financial Services Yesterday

Device Makes Digital Currency Feel Tangible

The concept gadget wants you to experience the highs and lows of spending money

Design & Architecture Yesterday

Why Building Better Offices Is The Key To Employee Engagement

Interaction Designer and Audio-visual Technologist at ESI Design illustrates the value in creating environments filled with surprise and delight

Augmented / Virtual Reality Yesterday

NBC Is Planning To Stream The Presidential Debates In Virtual Reality

Partnering with AltspaceVR, the broadcaster offers another way for Americans to engage with the election season

No search results found.