Vodafone, the mobile phone provider in the United Kingdom, recently showed Bitcoin in its latest German announcement, which debuted on the company's Facebook page on February 17. Many perceive that this is a low blow to Facebook, after Vodafone left the Libra Association earlier this year.
Vodafone is catching the attention of the Bitcoiners with the new Bitcoin ad on its Facebook page. Vodafone was one of the companies that was willing to pay $ 10 million to run a node in the Libra cryptocurrency of Facebook, as a member of the Libra Association.
The Libra network was initially planning for partner companies to run the PoS validation nodes for the crypto network for a healthy fee. After Facebook's regulatory entanglement stopped Libra's forward momentum, 8 of the 10 companies that had signed up decided to withdraw from the project.
Vodafone insists that he left Libra to focus on the company's peer to peer payment system M-Pesa, which has 17 million users worldwide. M-Pesa has revolutionized financial inclusion in Kenya and Tanzania, with plans for the expansion of many other developing nations.
Within reach of the unbanked
M-Pesa has been extremely successful. It is a system that allows users to load funds on their mobile device and pay almost any type of purchase, even for those without a bank account.
M-Pesa uses SMS text messages and a PIN system to offer banking services to millions of consumers in developing economies.
M-Pesa's goals align with what many cryptocurrency enthusiasts see as "depositing the unbanked." Therefore, it makes sense that Vodafone is interested in cryptocurrencies as a way to improve the service and reduce costs for its users.