Even with all of the digitalization currently happening within the world of payment solutions, cash still seems to be the preferred choice of barter today. However, with the ever growing interest in the domain of cryptocurrencies, there is an increasing demand for the creation of payment mediums that allow us to make use of BTC, ETH and other altcoins for daily transaction purposes.
Dinero One will aim to serve as a “blockchain based multipurpose cash platform” that will help businesses solve their cash flow problems. Though the use of this system, customers will be able to gain access to “simple, secure, and fast payments” via the use of various cryptocurrencies. At this point, it should also be mentioned that Dinero will be usable for both business owners, as well as customers.
More About the Dinero One Platform
As per the official company whitepaper, Dinero One is a ”transaction platform” that will allow for cash counting in real time. It makes use of a highly intuitive UI which displays a total breakdown of all cryptocurrency, fiat and credit card transactions that take place within the system. Not only that, it also showcases the total cash balance as well as supplied denominations in bills and coins (via the use of a smartphone app).
Other Key Facets of Dinero One Include:
Each and every cash, credit card, and cryptocurrency transaction (withdrawal and deposit in the Dinero one cash drawer) is recorded carefully within a decentralised database that owners can access via the use of a GUI. In addition to this, the recorded data can also be used for market analysis as well as other analytical purposes.
(iv) Completely Automated:
Apart from the cash counting (which is one of the core aspects of this platform), Dinero One also serves as an:
- Automated Payment system
- Two way currency flow module.
- Fiat compatible money platform.
(v) ATM integration:
According to company reports, if local legislation/ laws permit, the company aims to start making the Dinero app compatible with ATM’s so as to allow for seamless cash/ crypto transactions to go through.
Dinero One DIN ICO Token Sale Details
As is clear by now, the Dinero Token (abbreviated as DIN) will be used for all internal payment purposes. It is ERC20 compatible, and in all there will be a total of 350 million DIN Tokens that will be distributed to the public via a crowdsale.
All DIN purchases can be made via the use of BTC, and the distribution of tokens will be maintained in the following manner:
- 297.5 million (which works out to 85%) of the entire currency amount has been set aside for public purchase.
- 17.5 million (5%) of all tokens will be reserved for future company growth, as well as for the establishment of market partnerships.
- 10.5 million (3%) will be used exclusively by core team members.
- Another 7 million (2%) has been reserved for the advisors of this project.
- The remaining 5% will be used for the creation of a bounty program.
After the launch of the Token crowdsale, investments can be made for a period of 6 weeks.
Utilization of Funds
As per the whitepaper, the money raised via the ICO will be used in the following ways:
- 53% of the revenue will be used for the creation of a product line.
- 10.8% will be used for advertising and marketing purposes (to increase the visibility of Dinero to an international audience).
- 29% of the money will be used to foster research and development of additional features.
- The remaining 7.2% will be used to pay for employee salaries, as well as cover for admin and server hosting charges etc.