The space banking programme will function both as depository for digital cash and as a platform to provide global and universal access to remote areas around the globe where payment infrastructures are non-existent.
Paylo Tanasyuk, SpaceBIT co-founder, has argued that the programme is designed to establish a decentralised banking system with common banking services for current and future global cryptocurrency users.
In the short term, SpaceBIT will focus on building a blockchain integrating a payments system meant for the unbaked customers. The program is currently forming a committee of specialists from various industries, including finance, space, law and technology.
In addition, SpaceBIT is in the process of partnering with banks and exchanges to comply with local regulations and jurisdictions, while simultaneously creating borderless transaction systems.
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