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BitMinutes Partners with Fundacin Gnesis Empresarial, Initiating a Process that Will Bring Financial Inclusion to Millions of Guatemalans | Nachricht

BitMinutes Partners with Fundacin Gnesis Empresarial, Initiating a Process that Will Bring Financial Inclusion to Millions of Guatemalans | Nachricht

ATLANTA, Oct. 9, 2020 /PRNewswire/ –BitMinutes Inc., a financial services technology company leveraging blockchain and pre-paid minutes tokenization to provide financial inclusion to the global consumer, announced today that it has partnered with Fundacin Gnesis Empresarial (www.genesisempresarial.org), the largest microfinance institution in Guatemala to significantly expand financial inclusion in Guatemala by offering highly affordable digital financial services.

Together, the two companies will form the Trusted Agent Network (TAN-LA), which will immediately provide Guatemalans with free remittances (or wire transfers) from the United States, as well as microloans in the near future. For more on the TAN-LA, visit https://my.tanagent.com/

Consumers can use the following link to make remittances: https://my.tanagent.com/guatemala/

The partnership will also offer pre-paid phone time top ups using the BitMinutes token (BMT), which can be purchased and sent to any mobile phone, notably from a U.S. BMT wallet to any phone in Guatemala.

While BitMinutes brings its proven technology to the partnership, Fundacin Gnesis Empresarial (FGE) has Pronet, S.A. (AKISI) and its 50,000 locations in Guatemala. Customers of TAN-LA will ultimately be able to pick up their remittances at these locations.

Key to the partnership is the fact that the two companies have completed the integration of their respective platforms, making for a seamless transfer from the BitMinutes wallet to the Pronet, S.A. (AKISI)) wallet. The product roadmap also calls for the offering of microloans to Guatemalans, many of which are unbanked.

“Our mission with BitMinutes has always been to help the unbanked climb out of their economic circumstance and even create their own business and become an entrepreneur,” said Tom Meredith, the CEO and founder of BitMinutes. ‘We have already started fulfilling that mission in Nigeria, where we have a have a TAN that spans more than 1300 TAN agents, serving more

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Hotels getting creative to bring back business amid slow travel

Hotels getting creative to bring back business amid slow travel

Hotels are still struggling to fill rooms like they were before an avalanche of cancellations starting in March.

Now, travelers are slowly returning to train stations, airports, and hotels.

“This is something that none of us were expecting or were prepared for,” said Daniel del Olmo, the President and COO of Sage Hospitality Management, a Sage Hospitality Group company.

Sage Hospitality Group owns 52 hotels across the U.S.

“We went from basically a level of revenue of $3 million on a daily basis to effectively $40,000 per day in early May,” del Olmo said.

“The economic impact has been something that no one could have ever prepared for, you could not have prepared for it financially, you could not have even prepared for it psychologically or emotionally,” said Chip Rogers, President of the American Hotel & Lodging Association. “2020 will go down on record of having the lowest occupancy in the history of the hotel industry and that includes during the Great Depression.”

The association represented the entire industry from large brands to small hotels.

For smaller companies, the impact of COVID-19 is especially difficult on their bottom line.

“Well over 60% of all hotels are actually classified as small businesses by the Small Business Association,” Rogers said.

“In the third week of March, we found ourselves having to furlough over 90% of our staff,” del Olmo said.

“With no further assistance, about two thirds of hotels say they cannot make it another six months,” Rogers said.

Del Olmo said they haven’t reached that point.

“We have not had to permanently close, thankfully, any of our properties,” he said.

But others have. Fewer visitors means less money and less work.

“We’re right at almost 2 million jobs lost in the hotel industry,” Rogers said.

Del Olmo said Sage Hospitality had

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