BTC Wires: The Earth Dollar has recently joined forces with the U.S. Blockchain Association and various other associations from all over the world in order to launch a Global Cryptocurrency Payment System (GCPS). This move aims to take cryptocurrencies to POS (point of sale) locations which include online as well as offline brick and mortar retailers. As the Earth Dollar has been selected by the alliance as the primary reserve currency, it is going to become one of the largest asset-backed currencies in the world which has an intrinsic value. As a reserve currency, Earth Dollar would be used to measure the value of other currencies. It will also become a common payment denomination for making a payment towards transaction or exchange fees. It has also been agreed that various other cryptocurrencies such as Bitcoin, Litecoin, Bitcoin Cash, Earth Dollar, Las Vegas Token, and fiat currencies will also be supported on the GCPS platform. There are also plans to enter into negotiations with more altruistic cryptocurrencies to help communities in America.
The alliance has planned to connect GCPS to more than fifty thousand ATM/POS points that are cryptocurrency enabled and connect to millions of debit card holders and mobile phone users globally. The GCPS platform has been designed to handle transactions for more than 250 million people globally on a daily basis. With Earth Dollar joining the alliance, the platform would enable customers to use cryptocurrencies to purchase goods and services anywhere in the world including restaurants, shopping malls, casinos, hotels, grocery stores, etc. There are plans from Earth Dollar to install additional 5,000 cryptocurrency-based ATMs/POS in with seven indigenous communities in Canada and Ghana, where the Earth Dollar would be considered the official currency and would serve more than 6 million people. Earth Dollar would also be offering cryptocurrency-based debit cards to community members to bridge any gaps. All payments made to merchants through the cryptocurrency systems are expected to be processed in Las Vegas Currency Exchange and would eliminate the role of middlemen.
As per Mr. David Kam, CEO and Chairman Earth Dollar, “Our goal is to bring Crypto to the world. The only way we see Cryptocurrencies becoming more mainstream is when people can walk into any shop to buy a coffee, groceries, or other common goods with crypto. For this cause, we are delighted to partner with these Associations to deploy the Global Cryptocurrency Payment System, worldwide.” Miss. Alisha Forrest Scott, President of the U.S. Blockchain Association, was quoted saying that, “70% of purchase decisions are made by women, that retailers have come to respect. We will help women to embrace Cryptocurrencies, including how to earn them and use them for purchases to buy groceries and household items with them. Women will ultimately save a lot of money using our system, compared to the current payment processing fees that all consumers have had to accept. With these systems, women will enjoy more purchases of fun, fashion, and experiences they wish for, as they do with the USD. By using Cryptocurrencies, it will become easier, safer and more private.”