Cryptocurrencies have been creating headlines since 2009. With the landscape of cryptocurrencies getting more populated, several inefficiencies started surfacing. While ICOs (Initial Coin Offering) provide a great deal of relief to startups for raising funds, their advantages mostly remain limited to the companies with digital products. Manufacturing and service companies have not been able to board the ICO vehicle to raise capital.

To make matters worse, businesses have to spend enormous amounts of capital even for reaching the ICO stage. So, the ICO revolution that was supposed to replace the current trend of venture capitalists has not been a great success.

Another aspect that makes cryptocurrencies a less viable option to replace the traditional money is that it primarily depends on proof of work consensus which does not make sense for an early startup where proof-of-ownership becomes the most suited form of agreement.

DICE is midway between the traditional money and cryptocurrencies

DICE economy does not run on a single blockchain, thus eliminating drawbacks of an ICO. It is a self-sustaining ecosystem that is driven by the digital money (DICE) units that offer freedom, privacy, and anonymity to its users. As a clustered economy, DICE ecosystem consists of miners and operators (IT) who collaborate to maintain the liquidity of DICE units.

A DICE unit gets generated by operators, and it remains associated to the same operator unless its ownership is transferred. DICE units are considered to be a part of the capital that a miner processes. This is where the proof-of-ownership plays a role, and miners get incentivized for mining and staying connected with multiple operators.

DICE is a global currency while the operators are independent entities. That means just like traditional money; a user can use his DICE tokens to buy products and services from multiple operators.

How does DICE offer a solution for ICO issues?

Even if a universal blockchain does not support DICE, it offers another easy way to raise funds. Known as IDO (Initial Dice Offering), this fundraising mechanism associated with DICE needs minimum capital and in the process, turns a miner into an operator. Initially, no DICE units are associated with the operator, and that is how he is encouraged to join the clusters of miners and generate value for its business.

Whenever a new DICE gets mined, it becomes a part of operator valuation. A miner acquires equity in the business by buying the DICE token, and that is how the IDO raises the capital.

Final thoughts

DICE economy opens up several new opportunities by utilizing the benefits of cryptocurrencies by digitizing physical products and making them more liquid. A fee-free model that allows startups to build an initial capital for growing and scaling. The security of DICE units is independent of any digital wallet, and they can be stored on emails, USBs or printed notes just like traditional money, yet quicker and more secure.

To know more about DICE, visit their website or read the whitepaper.

Media Contact:

Name:   Dilip Chandar

Email:    [email protected]

Website: www.dice.money

Telegram: https://t.me/DICEMoney

The post DICE Meets Halfway between Traditional Money and Blockchain-based Cryptocurrencies appeared first on ZyCrypto.

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