What is Dether?

Dether is a new app that's goal is to bring Ethereum to the masses. Currently as I write this, the easiest way for a non tech savvy person to buy cryptocurrency is through Coinbase. Personally, I'm not a fan of it. It's really simple and dumbed-down, so that pretty much anyone can go buy Bitcoin, Ethereum, or Litecoin. But it takes about five days now to receive your order, which is absurd considering the volatility of cryptocurrency at the moment. Other than that, you have to go onto online exchanges which can be daunting for the average person (all it takes is a little patience and reading), but the average person doesn't like the amount of steps it takes to purchase crypto. Sure there are cryptocurrency ATM's starting to pop up. Per Coin ATM Radar, there are currently 1,427 ATM's world wide, but why make ATM's when any person with a smartphone and Ethereum can be a ATM. This is Dether's plan, have an app where any person can exchange ether for cash. This will bring much greater liquidity to ether over night. We've seen how quick things catch on now with the pace of technology. Almost everyone you know uses a smart phone now, so this will be as simple as downloading any other app.

How does Dether work?

From their website, you set a profile up and then look around on the map to discover Ether tellers or people seeking ether in exchange for fiat (cash). The Ether seller basically becomes a mobile ATM, and they can charge a fee for the exchange. This will allow people to compete and charge fees based on supply and demand in your area. Users will open the app on their phone and open the Dether map to see where local Ether tellers are and their prices. In the app you will have your Dether wallet, where you can store your ether. Per Dether's website, only you have the ability to fund your wallet. The map will also include stores and merchants that accept ether as a form of payment. The app also allows you to add your shop on their map. So this will help Dether grow immensely, as more merchants accept this form of payment. Buyers and sellers have their own public reputation so you can see how others have rated them. This is very similar to Uber and how their rating system works, though instead you rate the ether teller after the transaction.

As of right now Dether plans to launch a crowdsale (Initial Coin Offering or ICO) for their token, DTR, in Q4 2017. This token will run on the Ethereum platform using the ERC20 token, which allows for smart contracts. The ERC20 is used by numerous platforms including EOS, Golem, Civic, and many more.

Dether roadmap per their website.

Bringing Cryptocurrency to the Masses

Dether has serious potential to bring crypto to the masses. The biggest barrier currently to crypto is the amount of steps it takes to convert fiat to crypto and vice versa. As I stated earlier, this will turn millions of people into "mobile ATM's" overnight. This app has the potential to bring cryptocurrency to the next level and free millions of people from local currencies that are experiencing severe inflation. Venezuela is a great example of this with the current economic and political turmoil they are facing. At the start of 2017 $1 equaled 3,164 Bolivars. Eight months later, $1 equaled 10,389 Bolivars. People's life savings were wiped out in eight months because of hyperinflation. So when people argue against cryptocurrency next time and how "Bitcoin is used for illegal activities" only, just mention Venezuela as a prime example of currency manipulation.

Below is a photo per the CNN's website.

This is an awesome app and has serious potential to change the velocity of money. I'll be sure to write on future developments on this.

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