In 2009, Satoshi Nakamoto, the mysterious founder of Bitcoin, released a white paper[1] proposing a radical shift away from prevailing fiat money transactions. Nakamoto begins the white paper with an abstract,
“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”
Today, there is significant attention around bitcoin and other cryptocurrencies. While they are most often looked at as a speculative asset, questions remain about day-to-day utility of cryptocurrency. For many businesses, accepting digital currencies might not seem worth the trouble, given that the process can be beset with unpredictable fees, a perceptually steep learning curve and other transactional complexities. Setting aside the risk component, one reason why businesses have avoided adoption is the fact that few point-of-sale systems can efficiently accept crypto payments.
In alignment with Satoshi’s vision, a London-based company known as Plutus has set its sights on igniting a new age of crypto-based point-of sale transactions. Founded in 2015 by Danial Daychopan before being successfully funded the following year through its pluton (PLU) token crowdsale, Plutus is a decentralized payment ecosystem that permits cryptocurrency payments anywhere in the world through the use of a decentralized, escrow-based model.
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Plutus’ vision is to deliver cryptocurrency payment options to the general public. The fundamental value they see in this territory is that it is the launching point for boosting cryptocurrency user growth and adoption for point-of-sale commerce.
Plutus offers consumers a trusted and secure platform for the conversion of cryptocurrency into fiat currency, as well as the reverse. The user can spend without being charged astronomical fees while simultaneously benefiting from incentives tied to automatic pluton loyalty rewards.
This loyalty element is pivotal to Plutus’
