Plutus Mobile App For Bitcoin Payments

Bitcoin enthusiasts all over the world are continuously striving to make the bitcoins acceptable almost everywhere. But it’s never going to be easy. Because mostof the merchants still don’t accept this digital currency and it can’t be forged over them in any way. So there has to be another way to make it acceptable worldwide.

A London based start-up named Plutus has come up with one such idea that can prove to be a breakthrough in the field of digital exchanges. Plutus is going to launch a mobile app that combines the Bitcoin and Ethereum to push the contactless payments using NFC. So in this way, it lets all the bitcoin users to make contactless payments wherever the NFC enabled terminals are installed. All you need to have is a smartphone with Plutus app installed in it and a NFC enabled payment terminal.

How It Works?

You don’t need to worry if the merchant will accept your bitcoin or not. With Plutus, it doesn’t even matter. While making a transaction via Plutus, you simply send the bitcoin straight to the address displayed in the app which is provided by the trader who wants to buy your bitcoin. Not just that, you get the best market price for your bitcoin as all the traders in this decentralized network are facing a tough competition.

So they are willing to pay an exorbitant amount in exchange of your bitcoin. To make the transactions more secure, it employs the smart contracts along with the blockchain technique. This is to ensure that the trader receives your bitcoin only after his funds in the Escrow are released to you. That’s how it results in a fair exchange. And the amount credited to you by the trader in exchange of your bitcoin can now be utilized to make payment to the corresponding merchant. That’s how it works.

You Also Get Plutons For Every Payment

With Plutus, you also get reward points in the form of Plutons for every payment that you make. These plutons are just like tokens that you can use to avail discount on all your further payments.

When It Will Be Available?

The Plutus app has created quite a buzz among all the bitcoin enthusiasts. There have been numerous speculations about the release date of Plutus but there is no official confirmation as of now. The Plutus team hasn’t yet specified its release date. However, it is going to release the white paper for this app next month.

Owing to the astonishing features that the app offers, all the bitcoin users are very excited about it and are looking forward to the release.

According to the sources, the app is in alpha stage right now and it is expected to arrive soon. Various testings are going on in London right now. And anyone can sign up to join the testing team. Plutus is encouraging more and more people to register for the testing processes and is offering them to become the co-founding members.

Project Progress And Award Nominations

Prior to its release, many further advancements have been made by the Plutus team and it is still keeping up the stride. As its first mega achievement, the project made it to the finals of the “Contactless Intelligence and Mobile Awards” or “CIMA 2016.” These awards are exclusively sponsored by VISA and they are going to take place in London next month. The Plutus payment solution has been nominated in the “Next Gen Ecosystem” category. The Plutus however, is going to face a tough competition from many strong competitors like Yoti, Ledger and Epiphyte. Owing to this huge competition, it will be interesting to see if the Plutus is going to make it or not.