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Earth Dollar Partners Blockchain Associations To Launch Crypto Payment System

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Earth Dollar is partnering U.S. Blockchain Association, Nevada Blockchain Association (NBA) and Associations Worldwide to make cryptocurrency spendable anywhere through point-of-sale (POS) locations, including brick-and-mortar as well as online retailers.

The partnership is planning to install about 50,000 crypto-enabled ATM/POS terminals as part of its plan to develop a Global Cryptocurrency Payment System (GCPS).

The U.S. Blockchain Association will be responsible for deploying 40,000 terminals across the U.S., while the NBA will gradually deploy rest of the 10,000 terminals.

These terminals will be linked to debit-card holders and also basic mobile phones users in the U.S., Canada, Ghana, Georgia, Eurasia, among others.

While the terminals serve about 6.5 million people and Earth Dollar will act as their official community currency. It is also expected to offer co-branded Earth Dollar Debit Cards to the partnership members.

Earth Dollar, an asset-backed cryptocurrency with intrinsic value, has also been selected by the partnership as one of the main reserve currencies for the new GCPS Platform.

This means Earth Dollar will be used for measuring value against other currencies and will be the common unit for the payment of all exchange and transaction fees.

Apart from Earth Dollar, Bitcoin, Bitcoin Cash, Litecoin, the Las Vegas Token, and fiat currencies will be supported on the GCPS Platform.

The GCPS Platform is expected to help crypto consumers purchase goods and services anywhere as well as spend in casinos, shopping malls, restaurants, cafes, entertainment venues, grocery stores, hotels, and other such physical venues and locations.

All payments made to merchants through the crypto-enabled ATM/POS terminals are expected to be processed by the Las Vegas Currency Exchange.

by RTTNews Staff Writer

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