Dear UTU Guardians of Trust!
We are excited to announce today a brand new collaboration between UTU and BitLipa! UTU will offer socially powered KYC and recommendations to BitLipa users to both magically simplify the process of onboarding and bring greater trust and confidence to BitLipa users.
UTU is transforming digital trust with our AI-powered decentralized Trust Infrastructure as a Service. We are laser focused on solving the three core problems of digital trust — moving from a highest rating model to a best fit model, transforming trust from being a product to its more appropriate role as infrastructure and currency, and changing the economic incentives around building and manipulating digital trust.
UTU has watched BitLipa grow since its original inception at UTU House — the coworking space we started for AI and Blockchain projects in Nairobi. BitLipa is on an enormous mission to revolutionize accessibility and affordability of cryptocurrency across Africa, providing fiat on/off-ramps via mobile money, rather than just bank accounts which are limited to a small slice of Africa’s huge population. BitLipa is already transforming on/off-ramping in Kenya and we are excited to be part of their story as they expand across Africa.
The cost of sending money from one country to another in Africa is higher than the cost of sending money from abroad to Africa. Typically it costs 5–25% of the value of money being transfered. Most intra-African trade is still largely dominated by foreign currencies. BitLipa exists to bridge this divide by offering instant settlement at negligible fees.
BitLipa CEO Apollo Eric said, “UTU is the mother of BitLipa. Our idea for a pan-African crypto-fiat on ramp was hatched and incubated at UTU house. Trust is a very elusive commodity in the permissionless crypto environment. We are excited to partner with UTU to simplify our users lives and let them transact without fear of being scammed.
BitLipa is a p2p payments and Remittance app based out of Nairobi. Users can send, receive and withdraw money across africa. BitLipa’s is enabling a cashless society where small businesses and individuals can move value across nation state borders in a permissionless crypto environment. Check them out at www.bitlipa.africa on Twitter @Bitlipa_ and on Telegram.
At UTU we believe in a more human-friendly internet and are changing the way the world trusts online. UTU’s vision is to become the trust infrastructure of the entire internet, replacing anonymous star ratings, reviews, and scores as the de facto trust mechanisms of our digital lives. We do this in service of our mission to bridge the gap between how people trust in real life, and how they are asked to trust online. We believe in data as a human right and build for privacy first. Our goal is to make the internet a safer, more trusted place to gather, share, work, and trade.