London - April 1, 2016 - (Newswire.com)
Plutus.it, the next generation contactless payment system that makes it possible to pay with Bitcoin at any NFC checkout terminal in the world, has now released a formal White Paper detailing the core aspects of its platform.
“There is no longer a need to wait for merchants to accept bitcoin, users deserve the power to decide by themselves.”, states CEO Danial Daychopan, “This will provide a tremendous benefit to anyone within the blockchain ecosystem, while exerting market pressure on merchants to accept digital currencies by default.”
Plutus enables contactless payments using digital currencies by utilising it's built in peer-to-peer exchange network called the PlutusDEX — it runs as a decentralised autonomous application (Dapp) on the Ethereum blockchain, wherein users can escrow and sell their fiat deposits for digital assets directly to other users.
For app users (customers), this process is automated and simplified down to the very essence of “Tap & Pay”. The learning curve is designed to be minimal, and nothing more than depositing Bitcoin and holding a mobile device above the merchant’s NFC reader is required. On the other hand, users who wish to purchase bitcoin for fiat will have access to a web interface as well as a high-speed API.
We want to automate our business processes and exchange system in a transparent and immutable manner. As a result, we are able cut costs and pass these savings on to our users — added Danial.
Plutus also offers a decentralised rebate program, wherein app users automatically and verifiably receive a percentage of Plutons for each deposit they make towards a purchase. Plutons are distantly similar to cash back credits and air miles, and can be used to pay within the Plutus app in the same way as Bitcoins, with the added advantages of instant conversions and zero fees.
A working prototype has already been developed and, for the first time since its inception, detailed schematics of Plutus are now available to the general public. For more information, visit our website or download the Plutus White Paper directly.
Contact Info:
Plutus.it
Suite 540 450 Kings Road
London
United Kingdom
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Original Source: Plutus.it White Paper — the Next Generation Payment System Powered by Ethereum
