Nchain, a blockchain centric research, and development recently announced the acquisition of a majority stake in the Bitcoin Cash-centric startup Handcash. Handcash is a platform that allows users to send BCH in a contactless manner using near-field communication technology (NFC).
On Monday the company Nchain Group reported that they had closed a deal that gives the firm a large stake in the Handcash platform. As stated by Nchain, the deal was facilitated through the company’s investment arm Nchain Reaction. Back in February, News.Bitcoin.com reported on Handcash after it launched its bitcoin cash beta client for android phones. The Handcash app which was created by two developers from Spain, Alejandro Pascual Agut, and Rafael Jimenez Seibane. This app allows users to transact with BCH using NFC technology.
Alejandro Agut states during the announcement “Bitcoin was conceived to be peer-to-peer electronic cash – So we wondered why Bitcoin was not being used like cash. That gave us the idea to create a wallet application that allows you to send Bitcoin in a way that resembles handing someone cash, by merely placing a sender’s mobile device close to the recipient’s device.”
In the early stages of this month, the development team of Handcash revealed they were given permission to use the Nchain software development kit (SDK) Nakasendo before it was published. News.Bitcoin.com spoke directly with Agut about how the new partnership with Nchain what the BCH community expect from Handcash going forward.
It certainly opens up new collaborations with other apps and services from the Nchain family right away, so we can put our protocols there and vice versa. We are already working with a Magic Protocol that will be able to connect your Handcash wallet to third-party services – It uses the Nakasendo SDK – Also, we are going to be the first in line to test upcoming SDKs for a few new features we want to adopt in the future, Agut details.
In addition to that, Nchain says that the application Handcash make it easier to send BCH in a contactless fashion without any of the processes of copying an address or scanning a QR code. The CEO of Nchain Group, Jimmy Nguyen noted during the acquisition that for Bitcoin Cash to grow, user interfaces need to become better and easier to use – We are impressed with Handcash and its vision for simplifying the Bitcoin Cash transactions process to a contactless approach. He concluded by stating “Nchain is thrilled to support Handcash on its journey to make Bitcoin Cash wallets and payment systems easy to use around the world and to ignite global adoption of Bitcoin Cash.”