Banxaas - A senegalese P2P bitcoin-only exchange

In an increasingly digitalized and globalized world, the Internet has become the basis of all modern societies, whether it is communication, finance, services, etc. In the digital age, monetary exchanges take place via centralized channels such as banks, telephone operators, money transfer companies, etc.

It is in this context that Bitcoin emerged, defined as a peer-to-peer electronic payment system. The idea was to have a completely decentralized payment system, allowing to use a valued token in order to send value to each other. Sending bitcoins to the other end of the earth costs much less than the conventional system, is faster, requires no paperwork and the transfer cannot be censored. A financial revolution that increased the value of bitcoin from pennies to tens of thousands of dollars, pushing the global demand for bitcoin to new heights. There are now several hundred online marketplaces where you can buy/sell bitcoins around the world.

In Senegal, they can be counted on one hand. The demand is there, but the senegalese is forced to use foreign solutions, not really fit to him, to satisfy his need. So we decided to create «Banxaas» which will be a p2p Bitcoin-only exchange where senegaleses can buy/sell bitcoin, with local payment methods, and local currencies.

This exchange will be open source, is intended to be peer to peer and aims to be, in the long term, the first solution in Senegal to buy and sell Bitcoin.

I hope you follow the journey.