The Earth Dollar has formed partnerships with the U.S. Blockchain Association, the Nevada Blockchain Association and other organizations world-over to enable cryptocurrency payments at point-of-sale locations. The providers of the Global Cryptocurrency Payment System (GCPS) will be both physical and online retailers.
As one of the biggest asset-backed currencies in the world with high intrinsic value, the Earth Dollar is chosen by the partnership to be one of the prime reserve currencies of the GCPS. Being a reserve currency means the Earth Dollar will be used for weighing value against other currencies and it will also be the unit of payment of all transaction fees.
All members of the alliance have agreed that the Earth Dollar, Litecoin, Bitcoin Cash, the Las Vegas Token and fiat currencies should be available on the GCPS platform. The alliance will also approach other cryptocurrencies for inclusion in the GCPS. Partnerships will be formed with altruistic cryptocurrencies that will benefit the American community.
Initially, the GCPS will be connected to 50,000 cryptocurrency-supporting ATM or point-of-sale terminals that are linked to numerous debit-card holders and basic mobile phone users in Canada, the U.S.A, Georgia, Ghana, Eurasia and other countries across the globe. The GCPS will be able to handle global transactions of up to 250-million people per day.
In Las Vegas, the Earth Dollar and other digital currencies will be accessible to more than 2 million residents and 40 million tourists who annually visit the place. The GCPS can be used to purchase anything; food, coffee, handbags, paintings, etc.
The U.S. Blockchain Association is responsible for 40,000 of the 50,000 planned ATM or point-of-sale terminals in the U.S.; they target metropolitan regions with high concentrations of public. 10,000 of the 50,000 point-of-sale terminals will be deployed by the Nevada Blockchain Association. The project will cover Las Vegas and local residential areas and the terminals will be installed all over the greater metropolitan Las Vegas area.
The project is described as a one-stop shopping solution to buy, sell, trade, develop and spend digital currencies in daily purchases and interactions. Customers can utilize cryptocurrencies anywhere to purchase goods and services.