Blockchain Payments Startup Billon Granted €2m by EU's Horizon 2020

The EU’s biggest Research and Innovation programme, Horizon 2020, has announced that it granted funding of almost €2 million to Billon Group. Billon was awarded the grant on the basis that its technology can exploit the alternative Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term market.

Learn how to buy Bitcoin and Ethereum safely with our simple guide!

The funding is meant to expand Billon's blockchain solutions beyond instant corporate payments, into ecommerce and content monetization solutions.

Tadeusz Kuropatwinski, Managing Director, Digital Payments, saids: "We believe content monetization and eCommerce payments will be one of the main drivers behind the global demand for micropayments, especially in emerging markets. Today’s payment solutions include clumsy pre-paid vouchers and premium SMS, and Billon can transform this into a digital payment experience on a mobile phone, and with a full audit trail. Based on successful trials, Billon expects to launch merchant services for ecommerce and content monetization this autumn in Poland and in 2018 in the UK, and will then look to emerging markets."

Robert Kaluza, co-founder and COO of Billon, added: "Billon’s DLT/Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology is the first cloud and mobile peer-to-peer solution for everyday currencies using DLT, where we provide PLN and GBP solutions in partnership with banks. Billon now moves beyond solutions to digitally pay people, to now enable participants to spend their funds online. Billon successfully completed proof-of-concept trials of its content monetization solution in 2016 in digitized PLN currency."

Alicja Grzegorzek, founder of Zafiro Solutions which helped with the grant application, said: "The SME Instrument is a programme for the most innovative European companies. Billon had all the attributes needed to succeed: a disruptive project, clear strategy and a world class team. We hope the this grant supports and accelerates its growth."