LONDON, May 21, 2018 /PRNewswire/ -- nChain Group, the leading blockchain research and development group, has closed deal terms to acquire a majority stake in HandCash. HandCash is a Bitcoin Cash mobile wallet which uses near field communication (NFC) technology to make it as easy for users to send Bitcoin Cash to someone as if they were handing cash. The deal was made through nChain Group's investment entity, nChain Reaction Ltd.
HandCash co-founder Alex Agut explains: "Bitcoin was conceived to be peer-to-peer electronic cash. 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. That's why we named our project HandCash. We also knew the application could only work on Bitcoin Cash, with its low fees and instant confirmations."
HandCash also makes it easier to send Bitcoin Cash without having to ask for a complicated receipt address or even a QR code, as most current Bitcoin applications require. Instead, users can identify and send funds to each other using "handle" names. In addition, users can keep their funds safe with easy ways to back up their wallets on the cloud or inside any NFC chip.