Pluton is a decentralized loyalty-token on the Ethereum blockchain, akin to mileage accumulation or cashback rewards, granting VIP trading and fee exemptions within the Plutus ecosystem. Pluton tokens can be converted for payment card transactions with instant confirmation and zero transaction fees.
Project Introduction
Based in London, Plutus was founded at the end of 2015 with the mission to bring everyday use of cryptocurrency for goods and services payments. Following a successful crowdfunding campaign in 2016 that raised $1 million, development of mobile applications (Android and iOS), the launch of VISA debit cards, and a user-friendly Decentralized Exchange were initiated. Users can top up their debit cards with cryptocurrency or fiat currency, while the DEX facilitates conversions.
An additional benefit for Plutus account holders in the UK and the European Economic Area (EEA) is the automatic issuance of a UK sort code and account number or a European International Bank Account Number (IBAN) within minutes of opening an account on the platform.
Project Highlights
Pluton is the Plutus token, part of a mobile application that will enable users to make Bitcoin payments at contactless payment terminals. The technology, based on the Ethereum platform, allows Bitcoin payments even when merchants do not accept Bitcoin as a payment method, provided there is NFC support. According to Plutus, the process is simple: first, through the app, Bitcoin is converted into fiat currency, which is stored in a virtual debit card or converted into "tokens" within the app that can be used for NFC payments.
The specific process for payments and conversion of Bitcoin to fiat is as follows:
1. Users send Bitcoin to the address displayed in the app;
2. The Bitcoin is automatically sent to verified traders on a decentralized trading platform, where it is exchanged for USD, EUR, etc., depending on the merchants region;
3. A smart contract running on the Ethereum platform (DEX) confirms that the trader has received the Bitcoin, after which the corresponding amount of fiat is automatically sent to the user’s Plutus virtual debit card account;
4. Finally, this money can be used for payments at all NFC terminals.
Related Links:
https://info.binance.com/cn/currencies/pluton
https://www.wanbizu.com/xinbi/20200302221425.html