British company blockchain Decentralized Capital (DC) held a demonstration of a new service that allows users to make transactions in different Fiat currencies on the blockchain of Ethereum.
Through the use of so-called "DC assets", users will be able to pay for goods and services with the use of digitized Fiat currency. Thus, the painful question of strong price volatility of cryptocurrencies will have value at the time of the transactions in the blockchain Ethereum
In order to make transactions in digitized Fiat currency in Ethereum network, users first need to configure the account DC and the address of Ethereum. Then they can either create a Deposit in bitcoin through the site or to make a Deposit in Fiat currencies directly from their Bank partner Crypto Capital.
Once the funds are in your account DC they become DC assets. Subsequently, users will be able to make trades in DGBP and DUSD, and all the other digital versions of Fiat currencies that are linked in a one to one ratio to its “non-digital counterpart”, to prevent exposure to the volatility of cryptocurrency.
The company in the near future plans to add more currencies, but has a decent coverage of all the major currencies in the world, supporting the Chinese yuan, Hong Kong dollar, Polish zloty, Swiss franc and Japanese yen.
Banking partner DC is Crypto Capital based in Panama and characterized as "a financial institution for cryptoeconomy". HER goal is to connect cryptanalytic world with traditional financial world, creating a banking platform for Fiat money, which supports all kinds of blockchains.
Every Deposit in Crypto Capital follows the rules of the KYC/AML that allows users to have unlimited access to the blockchain Ethereum wherever they are.
The main point of the new DC service is that it allows for the Fiat transaction in the blockchain, which completely bypasses the risk of exchange rate Fiat currency to cryptocurrency and Vice versa. General Director of Capital Alex Vern believes that people will get product denominated in their domestic or local currency. Through the new service they will be able, for example, create smart contracts, which include the desired national currency.
Providing smart contract deals that include a digitized national currency is likely to give impetus to the rapid adoption of Ethereum network that must also contribute to the rising cost of “official” Ethereum. Since Ethereum is beginning to capture a large market share of the payments, this should increase the demand and price of the air will increase.
During the week, the app will be shown live and can be a key application, which binds the abstract concept of the blockchain to the real world, contributing to wider application and interest in the technology and digital assets.https://ethclassic.ru/lenta/
Source: bits.media