Note from the CEO: Our readers know FintekNews tries to focus on covering the US fintech market, but sometimes there is something that needs to be seen since it will come to our shores. This article explains that one more BIG foot is stepping forward to advance a worldwide decentralized currency. Digital fiat currency is happening. Wake up U.S.
“The UK-based blockchain company Decentralized Capital has announced a demo of its new service, which allows users to transact in various fiat currencies on the Ethereum blockchain, at the International Blockchain Week’s Demo Day held on September 22 in Shanghai.
Through the use of so-called ‘DC Assets’, users will be able to make payments for products and services using digitalized fiat currency. That way, the prominent issue of cryptocurrencies’ strong price volatility will not come into play while transacting on the Ethereum blockchain.
To transact in digital fiat currency on the Ethereum network, users will first need to set up a DC account and an Ethereum address. Then they can either deposit bitcoin at DC via its website or deposit fiat currency directly with DC’s banking partner Crypto Capital.”