The Plutus Mobile Application enables a user to make contactless Bitcoin payments at any merchant with a Near Field Communication (NFC) enabled checkout terminal. This is the most practical way to pay with Bitcoin, because the payment process consists only of holding a mobile device above the merchants NFC reader. As a result, Bitcoin payments are effectively accepted by proxy at over 32 million brick and mortar merchants around the world.
The primary purpose of Plutus is to provide incentive for, and enable, the practical day-to-day usage of Bitcoin; ultimately accelerating mass-consumer adoption.
The competitive advantage of Plutus, within the mobile payments industry, is the effective utilization of the rapidly expanding Ethereum network. Through a transparent and decentralized network protocol, underwritten by distributed ledger technology (the blockchain), Ethereum allows Plutus to deploy smart contracts to enable secure, peer-to-peer (P2P) exchange of fiat currency and Bitcoin, with the added benefit of automatic escrow. Using these methods, the Plutus Decentralized Exchange Network (PlutusDEX) of traders convert Bitcoin deposits into a prepaid debit balance that is valid at any contactless point-of-sale (POS) terminal.
The philosophy of the application itself is open, inclusive and committed to the network health and widespread usage of Bitcoin. As such, a public trading API will be available, and 3rd party development is encouraged.
PLuton
