The DIM Ecosystem has expanded further with the launch of DIMPAY, an instant, borderless and decentralized payment system based on NEM blockchain technology. DIMPAY aims to facilitate cashless transactions for consumers and merchants, along with providing a potential financial solution for the 2 billion individuals worldwide without access to bank accounts.
DIMPAY is specifically developed to facilitate the generating of invoices, tracking of inventory, making payments and much more. The use of DIMPAY will eliminate numerous payment errors as the use of NEM blockchain technology makes this platform less expensive and instantaneous, mainly directed at peer-to-peer, business-to-business, consumer-to-business and business-to-consumer transactions.
Consisting of the DEPOTWALLET web-app, the mobile-app and the DIM Debit Card, this payment platform will allow users to buy, sell, hold and manage cryptocurrencies and cryptonized assets in a secure manner. Additionally, the DIM Debit Card will allow consumers to engage in e-commerce and walk-in purchases within the mercantile sector. All while the consumer is in full control of his finances at all times, trusting that strong fraud protection and illegal activity measures have been implemented accordingly.
DIMPAY further makes use of a QR code, enabling customers to make purchases and merchants to receive payments utilising anonymous accounts. Accounts that can also not be blocked or frozen, as with many other payment systems. Moreover, the DEPOTWALLET Business Account is accessed through scanning the QR code with a mobile device instead of applying the common one dimensional barcode system.
According to Cisco’s Global Mobile Data Traffic Forecast Update, global mobile traffic acquired a growth of 63% in 2016 reaching heights of 7.2 exabytes (7.2 billion gigabytes) per month. This went up from 4.4 exabytes per month at the end of 2015. Further growth is expected, 49 exabytes by 2021 to be exact, while mobile devices will represent 20% of the total IP traffic with smartphones accounting for over 50% of global devices and networks.
As mobile devices continue to increase in popularity, the adoption of QR codes and mobile payments will increase. DIMPAY is positioning itself to reap the rewards of this anticipated mobile usage boom.
The DIMPAY Foundation is a stand-alone company that is not associated directly with the DIM Foundation. It is the first step towards a decentralized idea of the DIM Ecosystem.
Latest message from Richard Lendrum on DIMCOIN being listed:
Journeys are a series of steps, and business journeys are no different. A historic step for the DIM Ecosystem is the 18th of December. This is the day we list DIMCOIN and open the process of free market trading of the cryptocurrency.
4 months after the inaugural DIMCOIN ICO – members of the DIM Community will be able to fulfil what was promised – the freedom to buy and sell DIMCOIN on an independent exchange.
Our original plan was to have 2 exchanges by end Q4 and while this has not waivered – the second (and third) exchange will only come online in early next year.
For now – the countdown is on. We welcome you all onto the next step of our game changing Ecosystem as we invite you to trade freely.
Source: The Merkle