by Matt Scott
BackBit is a BitCoin concept that could redefine commerce, but I need the communitys help in creating a bounty to get it built completely open source and free.
What if you could install your own bank? Handle your own payments? Pay your own suppliers?
With BackBit I believe I have outlined the blueprints for the Bitcoin 'killer app' an installable open source payment handler that gives anyone looking to accept payment for goods and services, big or small, digital or physical, complete front to back independent control of their finances, and that's just for starters.
Blueprints however need building, and I need the help of the community to crowdfund a sizeable reward to the development team who bring this to life whilst meeting all the project goals, even a modest reward would at the very least hopefully provide a bounty worthy of at least a small effort to build and claim, but it goes without saying the better the reward the better final product we can all expect.
In theory the project can't fail, even if a modest amount of money is raised, evolution of anything created here will always occur and besides you can't put the genie back in the bottle, but I passionately believe open source is absolutely critical to remain integral to the fundamental freedoms and transparency of the BitCoin protocol.
BackBit concept explained in under 5 minutes, digital content delivery =http://backbit.co.uk/
Whilst all this project can offer is a personallised line of thankyou text in an about file (see rewards) I hope that you can see how important it is that something like this not only exists but is completely open source and free of corporate power grabs, giving back financial freedom to everyone and potentially massively increasing BitCoin usage and acceptance as a medium of exchange, everything donated on this page after fees goes to the winning development team or teams depending on the funding level.
The Oxford dictionary defines a bank as "a financial establishment that uses money deposited by customers for investment, pays it out when required, makes loans at interest, and exchanges currency." a combination of BitCoin and BackBit can do all of this better, faster, and on your terms.
I envision a future of financial freedom using these blueprints, we need tools to bring about change and to take the power back from those with no moral compass, so let's make it happen.
For the blueprints, how this would look to a customer, and what I hope this project can achieve please goto www.backbit.co.uk