According to Dether, usability and seamless real world application of cryptocurrencies in a true ‘peer to peer electronic cash system’ are the missing keys that could unlock the doors barring cryptocurrencies from merging with the world of fiat dominated commerce.
“I know what cryptocurrencies are, but where do I get them and how do I use them?”
Concerns about the practicality and use of cryptocurrencies are usually the first questions a person has when pondering entry to this new realm and it’s doubtful that Bitcoin or Ethereum will compete on par with cash until an effortless method of acquiring and spending cryptocurrency is presented.
2017 saw the popularity of owning and trading cryptocurrencies explode to a $830 billion market capitalization, yet less than 10% of people own cryptocurrency and the entire market cap is held in only 25 million wallets. Fortunately, all of this could change in less than a month when Dether launches it’s highly anticipated Alpha version of their P2P decentralized application (Dapp) which allows for seamless Ethereum to cash transactions between users via smartphone. Dether (DTH) recently listed on BitFinex and with backing from Coinsilium and StartupToken this revolutionary project is well advised, sufficiently funded and bound to cause noticeable ripples in the cryptocurrency community.
Barriers to Entry
Acknowledging that a slew of rather cumbersome barriers stand in the path of people actually acquiring and using cryptocurrencies, Dether’s Alpha release addresses the most commonly voiced frustrations revolving entry to the world of cryptocurrency.
Business owners using Dether can bypass the middleman and conduct business free from the shackles of corporate profiteering as credit card merchant and transaction fees which are ultimately passed down to the customer are eliminated. Shop owners can broaden their customer base by listing their store location, hours of operation and acceptance of Ethereum on Dether.
Adoption concerns that to this date have prevented the wider uptake and use of cryptocurrencies are addressed as Dether allows buyers, sellers and merchants to circumvent the need to jump through all the hoops associated with trading on exchanges while also providing privacy to users.
Ethereum and Dether (DTH) holders essentially become their own bank as they generate profits through lending and Dether provides access to cryptocurrency and cash for the more than 2 billion people who are unbanked.
Dether Levels the Playing Field
Initially, cryptocurrencies were not designed to serve as purely speculative instruments of profit generation and Dether adheres to the ideology belying blockchain by providing a truly decentralized peer to peer cryptocurrency to cash exchange that restores functionality to one of the world’s most popular cryptocurrencies.
With Dether, a bank account is not required and users communicate through encrypted messaging to arrange for transactions which are completely decentralized and trustless. Satoshi envisioned Bitcoin as a borderless system not hindered by the whims of volatile governments and profit oriented financial systems, yet today millions of people are barred for participating in the cryptocurrency revolution as citizens in various countries are indefinitely barred from downloading certain apps. Dether’s progressive web app (PWA) bypasses these restrictions by allowing users to utilize the Dapp in a near native format via their smartphone web browser.
If 2017 was the year of euphoric cryptocurrency speculation, 2018 will expect more proof of value through the actual application and use of cryptocurrencies and blockchain technology. Dether meets this expectation by providing an easily accessible, frustration free method for conducting exclusively peer-to-peer cryptocurrency transactions where the terms of trade and negotiation are literally in the hands of users via their smartphone. Alpha has the potential to reshape the cryptocurrency landscape by returning function to cryptocurrencies and levelling the playing field for the common man by transforming individuals into decentralized exchanges.