Bitt Partners With Colu and Netki to Built New Blockchain Financial System in the Caribbean

Barbados-based digital currency exchange Bitt, continues to expand its offerings in the Caribbean region with the addition of two new services. A blog post by Rasheed Griffith, Market Research Analyst at Bitt, said that the company has integrated Netki’s Wallet Name Service, which allows users to generate easily-recognizable bitcoin wallet addresses:

“Using Netki’s Partner Wallet Name Service, Bitt will now be able to automatically generate Wallet Names using our ‘bi.tt’ domain.”

By using the Netki naming service, Bitt is attempting to “demystify” the digital currency paradigm and simplify the sending and receiving of digital currencies for ordinary folk, “User friendliness and support are key to bringing modern solutions to a region that has been denied these opportunities for so long.” writes Griffith.

Bitt recently made big waves in the media with the launch of its digital Barbadian dollar on the Bitcoin blockchain.

According to Griffith’s post, Bitt has also partnered with Colu, a blockchain smart contract platform developer based in Israel, and has plans to issue other assets based on Colu’s infrastructure:

“Caribbean fiat currencies can now have digital equivalents that are linked in a 1:1 ration with their Central Bank issued counterparts.”

Residents of the Caribbean region have struggled with high cross-border remittance fees for some time now, and Bitt has vowed to solve this problem by leveraging the efficiency of the Bitcoin blockchain.

“Our goal at Bitt is to build a financial ecosystem in the Caribbean that remedies the issues that people in the region experience daily.”

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