CoinText.io, a new blockchain development startup that been developed to help complete offline bitcoin cash transactions, has recently closed $600,000 seed funding amount to seed the new company was collected.
The group led by Texas-based Yeoman’s Capital, which has previously made an investment in Fantom, tZero and OpenGarden, who created the funding round that is designed to be used to develop a new mobile-based wallet that is supportive of bitcoin cash for transaction purposes. The new platform will operate through the use of text messaging, not requiring internet access or a personalized wallet address, as reported on the press release.
The new Chief Technological Officer or CTO, Vin Armani, also said that the venture capital company that can be used to provide forms for support, including advice as well as other forms of guidances, as CoinText operates via an expansion platform.
He made the following statement:
“We are dedicated to making cryptocurrency easy to use for the maximum number of people. Yeoman's team brings valuable experience to our mission to deliver useful tools that spread bitcoin adoption far and wide.”
CoinText is another company that as of now gives different services in a total of eight separate, including the United States, Canada the United Kingdom, Australia as well as South Africa.
The new startup company is one of a expanding number of different enterprises that were focused on auto-cryptocurrency exchanges. In particular it works with other startups that are attempting to find new ways or conducting transactions in new areas that didn’t have internet access.
As reported in a private paper CoinDesk released, blockchain startup goTenna developed on a new system-built device that was enabled on mobile devices to conduct offline transactions. Not like CoinText, goTenna’s solution used a powerfully run mesh network – a digital framework which gives users the ability to access the web without the need of a Wi-Fi or landline connection.