SKYBIT’s Blockchain Recipe for Sustainable Economic and Social Transformation in Myanmar

Myanmar is looking to shed its image of an isolated country and is entering the global economic mainstream. Technology is helping it take that leap. SKYBIT is the very first enterprise that is continuously building a blockchain-powered ecosystem to support Myanmar’s official transformation initiatives and help its businesses, individual traders and aid organizations enjoy the fruits of global prosperity, opening up limitless opportunities of Myanmar to the world, and the world to Myanmar.

SKYBIT – Current status and future plans

The SKYBIT ecosystem was founded by techpreneur Philip Lim in 2015 with a vision to transform the lives of the underserved people of Myanmar and Southeast Asia, who had remained cut off from the benefits of the global economy.

SKYBIT incorporated its parent company in Singapore as SKYBIT PTE. LTD. and its subsidiary SKYBIT LIMITED in Myanmar, where its primary business operations are бconducted.Currently, SKYBIT operates:

  • A fully functional digital asset conversion platform that allows traders to convert their holdings between bitcoin and MMK (Myanmar Kyat).
  • QuickBuy and QuickSell platform where users can buy bitcoin using MMK or sell bitcoin to get MMK without needing to deposit or withdraw.
  • Donation campaign advertising and payment processing platform that allows aid organizations in Myanmar to advertise their fundraising campaigns to an international audience.
  • Goods and services advertising and payment processing platform that Myanmar businesses can use to advertise their goods and services to a global customer base. 
  • The crypto-based payment processor that allows easy payments through digital assets that can be converted into MMK and credited to the merchants’ bank.

The short-term development plans of SKYBIT include,

  • A new Digital Asset Conversion Platform. This will replace the current platform and will be a bigger, better and more comprehensive platform to attract a large number of traders to easily convert MMK into digital assets,…

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