MakerDAO is excited to announce its exciting partnership with Dether. Our teams have been working together for the past few weeks in order to bring the value and power of a stable token to retailers and individuals worldwide. The partnership will make it simple for users to easily switch from any cryptocurrency to Dai.
Our vision is to address volatility issues preventing blockchain technology from being adopted worldwide and bring stability to the blockchain through Dai. By partnering together, DTH and DAI will break the barriers to blockchain and crypto adoption, enabling any individual or shop owner to easily switch from any cryptocurrency stabilized against the value of the U.S. Dollar, and vice versa.
Dether’s mission is to give power back to individuals — especially unbanked populations across the globe — by enabling them to easily access cryptocurrency. As a consequence, Dether started building a worldwide ecosystem of crypto buyers, sellers and physical stores willing to trade crypto for fiat cash and accept it as a means of payment.
A key feature for retailers to accept cryptocurrency
One of the main concerns that shop owners highlight when it comes to accepting cryptocurrency as a means of payment is volatility. Business owners feel that it’s not economically sustainable to have their income decrease because of the high volatility of cryptocurrencies.
“I’m really excited to see Dether act as the first p2p marketplace to bring dai to the masses, and become an essential component for retailers to accept cryptocurrency” said Rune Christensen, CEO of MakerDAO.
Coming Soon: Dai stable token sellers across the globe on Dether
After launching Dether for shops on Ethereum mainnet three weeks ago, the Dether team is now finalizing the release of the Dether Personal App. Any cryptocurrency holder will be able to turn his or her cell phone into a mobile ATM and have an accessible way to make money. Crypto sellers, called PTMs (person teller machines) will be able to register themselves on the Dether map and start selling crypto in a peer-to-peer way for any fiat currency, anywhere in the world, at any time.
“By integrating DAI in Dether’s Personal App, we have not only created an easy way for crypto holders to switch from Ether to DAI and from DAI to Ether, but we are also making it possible for anyone to actually buy and sell a stable cryptocurrency of value using cash,” said Hamid, Dether’s cofounder.
“Having a super easy way to have access to a viable stable token is more than important — it’s crucial if we really want to make blockchain technology adopted worldwide. On the one hand, Ethereum enables anyone to build unstoppable applications: a trustless digital world where its applications don’t have any kind of censorship, fraud or third party interference. On the other hand, this world of dApps won’t be fully accessible for everyone until we manage to bring an ideal stable store of value to the market. And this is exactly why we decided to integrate DAI with Dether.”
Tomorrow, any crypto holder registered on Dether will be able to become a personal “cryptocurrency exchange.” By selling DAI stable tokens, billions of individuals will have the opportunity to be financially included by holding a cryptocurrency without fearing volatility.
Working towards first uses cases in Africa
Together, we have been analyzing the African market (see customer interviews on Medium) more specifically to help local populations be financially included using stable tokens through Dether.
Dether tellers will be able to sell stable tokens to unbanked local populations directly, enabling them to be financially included while also being able to use it as payment at qualified shops.