Timber is a SMS network and wallet that enables one to store and transfer electronic money (such as bitcoin) to another via a text message.
There are 2.5 billion people for whom smartphones are still out of reach and banks are unable to serve. They can not store their money in an electronic account or wallet and they can not afford a smartphone. Many receive the majority of their income in the form of remittances at a high cost (~10-20%) from relatives in developed nations like the USA.
Timber enables these people to receive remittances at a dramatically lower cost than is currently available. They can also send and receive bitcoin (btc) via a text message to and from others. People can receive btc from anyone via their cellphone, spend it at local merchants, and receive it from local consumers.
Security concerns are addressed with a pin # and confirmation code process.
Revenue is generated from fees on remittances, conversion fees, and merchant fees.