Dec 19, 2018
The founder & CEO, Shaun Burrow, is a seasoned financial services and fintech entrepreneur, with a number of startups and exits under his belt. He has built a very experienced technical team. The company already has community leaders and distribution in the following countries; Nigeria, Kenya, Tanzania, Rwanda, Zimbabwe, Lesotho and South Africa - and the team is growing rapidly. However to date their marketing and social media presence has been limited, as the majority of their budget has been spent on technical R&D.
DMC is the network’s native currency. It acts as a “signalling tool” within the network and is deliberately pegged at €0.01 per 1 DMC. 10Bn DMC will be pre-mined and bar the 250m being pre-sold, the balance will be retained by the company and slowly released via the partner network - to facilitate real world transactions. Should stakeholders wish to hold DMC in their wallets and not change or spend it, this will represent a wealth transfer from the fiat money system onto the company balance sheet. With the fiat proceeds, DéMars will purchase a basket of commodities and publish their holdings in the media (as proposed by Hayek in his tome, The De-Nationalisation of Money). The EUR peg will gradually erode if the ECB debases the value of their currency.
The DéMars hashtag #Blockchainforgood sums up the team’s rather ambitious goal of using distributed ledger technology to provide access the financial services to those excluded by the current system.
DéMars have dramatically reduced the data throughput of a blockchain network, by using a structured distributed hash table and localising the consensus. Thus solved a number of the speed and scalability issues associated with existing blockchain protocols and making the network mobile phone compatible – mobiles distribute, store and maintain the ledger – even in data constrained environments. The “capped proof of stake” – localised consensus system – is super-fast, extremely secure and infinitely scalable. The network is essentially free. There is a very small, fixed, 0.01 DMC (1 DM Cent, €0.0001) transaction fee, to protect against DoS attacks.
There are no centralised exchanges, as users can exchange peer-to-peer, within the protocol (via a localised classifieds network, similar to localbitcoins)
There is a US patent pending on the network design and structure.
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