Trestor Foundation, an India-based startup, has reportedly run a successful pilot program for its Trest digital token in Cameroon.
2013 and 2014 saw the creation of hundreds of alternative digital currencies to Bitcoin, each claiming unique features that will enable it to reshape the world of money. Most have functioned as useful experiments at best. A small handful, for example Hullcoin, were proposed specifically for struggling economies, often with limited success.
Trestor also claims a number of unique features, including zero transaction fees.
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Cameroon is an impoverished African country, which like many of its neighbors has a severely underdeveloped financial system. It reportedly agreed to trial Trest tokens after their reported success with Socapssi, an organization whose stated aim is to help locals gain access to national insurance.
Antoine De Padoue, founder of Socapssi, reportedly told Indo-Asian News Service that 500 people from “a small economically-knit community”, aged 15 to 35, were enrolled in the program. They were asked to use the tokens as their default method of payment for 30 days, and they artificially created a Trest-based micro-economy.
De Padoue said that the first partner retail location is operational, and another 500 are planned over the next 12 months. Trestor claims to currently have 592 retail partners in 65 countries.