The DIMPAY Foundation is a separate entity from the DIM Foundation. The DIMPAY Foundation will have its own board members and employees. The DIM Foundation will offer full support to the DIMPAY Foundation as a pilot project. DIMPAY will operate independently within the DIM Ecosystem. The DIM Foundation has permitted the development of DIMPAY to be outsourced exclusively to the DIMPAY Foundation. This is to ensure that the DIM Ecosystem is decentralized, not just at the foundational blockchain level but the operational level too.
DIMPAY is a global payment system that is fast, inexpensive and fully secure. DIMPAY is part of the DIM Ecosystem and it is built on the NEM Protocol. DIMPAY aims to disrupt the traditional peer-to-peer (P2P), business-to-business (B2B), business-to-consumer (B2C) and consumer-to-business (C2B) payment systems by offering low fees,transparency,instantaneous transactions and a decentralized platform. The use of DIMPAY will eliminate numerous payment errors that occur with brick and mortar merchants. This will be achieved by scanning a Quick Response (QR) code from their mobile devices instead of using cashiers. QR codes are two-dimensional codes that “were invented as an advancement of the common one dimensional barcodes.
The QR code will be the foundation for P2P, B2B and B2C experience using DIMPAY.The use of the QR code will eliminate the need for numerous participants such as cashiers in the payment process. The elimination of numerous participants will lead to decreased costs and increased efficiency and savings for both consumers and merchants.
DEPOTWALLET is a web app blockchain based wallet that permits users to buy, sell,hold and manage various cryptocurrencies together with cryptonized assets. The wallet allows users to make P2P transfers and companies to make B2B transactions.
DEPOTWALLET is also a doorway for users and businesses to the Hybrid Stock Exchange (HYBSE). HYBSE is an online stock exchange that offers small and medium enterprises (SME’s) a platform to seek and access international capital.
The mobile DEPOTWALLET will be similar to the DEPOTWALLET. Users will be able to select a Private Account or a Business Account. The introduction of the mobile DEPOTWALLET will proceed in gradual steps. The first mobile DEPOTWALLET will be a basic version for beta testing. The security upgrades and software updates to the mobile DEPOTWALLET will happen throughout 2018 and 2019. As the software matures, the latest and most advanced security systems will be integrated. Examples: fingerprint, iris scan, face recognition, 2-step authenticator
The Private Account will offer the user full control over the account. The account will be linked to the DEPOTWALLET account, this will enable users to manage the cryptonized assets and cryptocurrencies in the account’s wallet address. Users will be able to make e-commerce purchases and merchant walk-in purchases in brick and mortar shops. This will “allow consumers to make payments ‘anytime, anywhere’, becoming less dependent on the need to carry cash which in turn could reduce the risk of theft.
The Business Account will be designed to meet the needs of businesses. The Business Account will enable businesses to keep track of inventory and transactions through one account. They will have complete management over their customers’ shopping and checkout experiences. The Business Account will send merchants payment notifications when payments have been completed and credited to their accounts. The account holders can also decide when to receive the notifications. The account will allow for standard invoices to be generated. Standard invoices have basic details such as the unique invoice number and transaction details such as items purchased, total cost etc. As DIMPAY continues to evolve, we will investigate the possibility and practicality of adding more types of invoices such as progress invoices, commercial invoices, value-based billing, time based billing etc. The addition of various billing options will widen the pool for businesses beyond merchants and venture into different professional fields.
DIM Debit Card
The DIM Debit Card will be connected to the DEPOTWALLET account on the web app and mobile versions. Debit card holders will be able to convert their DIMCOIN and other cryptocurrencies into selected DIM Currencies such as the DIM GBP and DIM EURO. The DIM Currencies will enable debit card holders to walk into brick and mortar merchants and swipe for goods and services. The debit card will also enable the holders to engage in e-commerce shopping.
DIMPAY features are a combination of the different attributes of DEPOTWALLET, mobile DEPOTWALLET and the DIM Debit Cards.
|Crowdsale Opening Date||
345 days ago
|Crowdsale Closing Date||
334 days ago
HYBSE : 40%
Q3 2017 – The idea of creating and integrating DIMPAY into the DIM Ecosystem was approved