DIMPAY: decentralized cryptocurrency payments ICO
Latest posts by Dean (see all)
- IQeon decentralized gaming platform: can gaming broaden blockchain’s appeal? - February 21, 2018
- FarmaTrust review: using blockchain to fight fake medicines - February 20, 2018
- FarmaTrust tackling fake medicine in Mongolia with government partnership - February 18, 2018
DIMPAY is a global payments system with products for both merchants and consumers. Built on top of the NEM network, it makes full use of blockchain technology and cryptocurrency payments. This enables the platform to offer lower fees while also having instantaneous, transparent payments without the need to trust your money to any third party to hold. These advantages can be gained regardless of whether payments are peer-to-peer, business to business, customer to business or business to customer.
In order to bring this project to fruition and capitalize on its full potential the team behind DIMPAY are launching an ICO token sale to raise funds. This ICO sale will begin on 7th December 2017, and further details can be found below.
Wallet and Debit Card
DIMPAY will be fully integrated into the broader DIM ecosystem, and consists of two important products: DEPOTWALLET and the DIM Debit Card.
DEPOTWALLET will combine a regular cryptocurrency wallet with the addition of ‘cryptonized’ assets. These assets will be cryptocurrency equivalents of the local fiat currency in the users’ country; for example DIM Euro or DIM United States Dollar. They will exist as smart assets on the NEM blockchain.
For regular users this will mean they have the ability of buy, sell, hold, transfer to friends or make payments with cryptocurrencies, as well as their local currency all from one place. Through the use of the DIM Debit Card they will also be able to walk into physical stores or shop online, and make payment from their wallet using a familiar method.
Retailers will be able to create a DEPOTWALLET Business Account. In addition to the standard features listed above, this will also allow them to generate invoices, track their inventory, and make use of other business oriented features.
This wallet software will be available to use either as a mobile phone app or as a web app for use on laptops and desktop computers.
One of the main purposes of DIMPAY will be to facilitate cashless transactions for consumers and merchants. Wallet to wallet payments will encourage the use of QR codes, and the company plans to help retailers reduce costs and offer better pricing by encouraging self-service checkout options in which the consumer can pay directly by scanning an item with their phone. This will lessen the need for cashiers and therefore reduce wage bills.
Providing a better alternative to current payment processors and checkout systems is, however, only one of the goals of DIMPAY. They also aim to provide financial services which are accessible to the 2 billion adults in the world who currently do not have a bank account and therefore cannot access the services they need to improve their lives.
DIMPAY is aiming to raise a capped maximum of 1500 Bitcoin during its ICO. These funds will be used for the development of the DEPOTWALLET and its mobile application, and for the implementation of the DIM Debit Card.
There are bonuses available for investors who take part in the ICO early on, and extra bonuses are also available if you choose to pay using XEM, the native token of the NEM blockchain on which the project is based.
For more information about the project and to participate in the ICO please visit the official website here: https://www.dimpay.io/