Dether’s mission is to give power back to individuals — especially unbanked populations across the globe — by enabling them to easily access cryptocurrency. Dether is building a worldwide ecosystem of crypto buyers, sellers and physical stores willing to trade crypto for fiat cash and accept it as a means of payment. No bank account is needed, just a mobile phone with internet access.
A mobile app that lets you cash-in and cash-out cryptocurrency, with no fees taken by the company
Buying cryptocurrency presents many obstacles: fiat currency barriers, the need for a bank account, and certain geographical limitations. Individuals are often excluded from using cryptocurrency if their national currency is not accepted on a major exchange or if they don’t have a bank account or passport, leaving the world of dApps inaccessible.
Dether’s beta version, released on Ethereum test net in March 2018 on https://betakovan.dether.tech, allowed users across the globe to test the app and its main features.
Now, with the release of the Dether mobile app in June 2018, anyone will be able to use his or her mobile phone to connect and trade with crypto sellers near them on the Dether map, the app’s built-in location system.
Dether co-founder, Mehdi Amari commented:
“We are building a fully decentralized cash-in and cash-out marketplace, meaning that no central entity has any control over the user’s accounts, funds, or conversations. No funds are held. Each individual has his own private key locate in his device. Conversations are fully decentralized and peer-to-peer. The decentralized reputation system is based on the user’s number of trades and volumes. As a company, we don’t take any fees on the transactions between buyers and sellers.”
Enabling any cryptocurrency holder to become a mobile ATM
Dether addresses both individuals interested in buying and selling cryptocurrency for fiat currency, and physical shops willing to accept cryptocurrency as a means of payment. Using Dether, both individuals and physical shops can become an exchange by registering their point of sale on the Dether map and choosing their own fees.
For users shying away from volatility, Dether and MakerDAO, creators of the Dai stable token, have partnered to bring the value and power of a stable token to retailers and individuals worldwide using Dether. By further breaking the barriers to blockchain and crypto adoption, they enable any individual or shop owner to easily switch from any cryptocurrency stabilized against the value of the U.S. Dollar, and vice versa.
From Nigeria to Norway, shops all over the world can now be a part of a global ecosystem
Following their successful token sale in February 2018, Dether released “Dether for Shops” on Ethereum main net, allowing retailers to stake DTH (Dether’s utility token) in order to be listed on the Dether map and broadcast the fact that they accept cryptocurrency.
Dether co-founder, Hamid Benyahia stated:
Soon, “Dether for Shops” will allow shop owners to be listed on the Dether map under exclusive keywords related to their business.
An Expected Release Targeting Developing Countries in Africa, Asia and South America
Dether co-founder, Hamid Benyahia said:
“We are thrilled to be releasing the Dether app across countries in Africa, South America, and Asia. There are more than 2 billion adults that remain unbanked in these regions. Whether it’s for remittance, investment, or as a response to hyperinflation, we believe that these markets are in critical need of the ability to easily buy and sell cryptocurrency for cash.”