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dobuyToken is the digital asset underlying the dobuy infrastructure and ecosystem. In the initial phase, dobuyToken is launched on a smart contract ERC20 Token. This allows establishing relationships with its user-base while dobuyLedger is being developed. This blockchain ushers dobuy into the second phase, the coin phase, where dobuyToken will become a native coin, on its own blockchain: dobuyLedger. The dobuyLedger blockchain ensures low fees and a scalable amount of instant transactions, which is an important for dobuyToken to act as a successful currency.
dobuyPay (The Multi Digital Currency Wallet)
A multi-cryptocurrency wallet, dobuyPay forms the consumer-face to the dobuy Infrastructure and consists of a secure multi-digital-currency wallet that allows for depositing and withdrawing different kinds of digital assets connecting to dobuyLedger and blockchains of other digital currencies. The payment features are in development inside the wallet, so the wallet is a central component of the dobuy Infrastructure.
The wallet will be available for all standard desktop systems and mobile ecosystems. It incorporates the latest security measures such as two-step authentication for login and the verification of transactions. In the coin phase of the dobuyCoin major digital currencies such as Bitcoin, Ethereum, Litecoin, and other prominently used digital assets, other than dobuy, will be available in the dobuyPay wallet.
During the initial token phase, only Ethereum and other ERC20 Tokens are supported. The dobuyPay wallet contains the feature “instant exchange,” which allows the wallet owner to instantly exchange a digital currency held in the wallet to any other digital currency held in the wallet. The dobuyPay means that the dobuyCoin can instantaneously be exchanged to Bitcoin or vice versa.
In combination with the dobuy Infrastructure, the wallet offers SME’s to accept payments in multiple digital currencies, while the instant exchange feature allows the shop owner, merchant, or POS manufacturer to receive instant payment in dobuy or local fiat currency.
The dobuyPay wallet enables the user to manage their portfolio of cryptocurrencies in a user-friendly way. Facilitating the method of operating the program, as well as being up to date in relevant newsfeeds and market graphs, are incorporated in the wallet.
Blockchain-based installments arrange for dobuy to satisfy the demands of its fundamental goals, offering present-day financial solutions for residents in developed and developing countries; a digital asset will be created in two phases.
In the principal phase, existing blockchain innovation, Ethereum, will be utilized to dispatch the network and ecosystem using a token. The objective of this first phase is to bootstrap the dobuy ecosystem and build up the definitive dobuy infrastructure. The final dobuy framework comprises of blockchain system and infrastructure programming with a native digital asset, dobuyCoin. During the main stage, a wide choice of technologies will be conducted.
dobuyDAX (dobuy Digital Asset Exchanges)
dobuyLocal: A Local Exchange
In collaboration with local financial institutions in each country, MGI launches local exchanges. The local exchanges empower the buyers in that specific country to exclusively change the dobuy to local fiat currency and vice versa.
MGI presents a technical framework, technical support, and guidelines for international AML and initial token (coin) supply for that country. The partnered local institution is entrusted with the responsibility to take care of federal compliance, licenses, and the local KYC procedures.
dobuyWorldwide: International Exchanges
In the bid to improve worldwide awareness, dobuycoin will be listed on internationally renowned digital currency exchanges as it is significant for dobuy to be convertible to various digital currencies effortlessly. At the same time, it is providing an interface that connects dobuy from countries with a local dobuyExchange to countries without a local dobuyExchange. A positive side effect is that the price of dobuy will become market-driven, allowing dobuy to become a genuinely organically decentralized digital currency.
dobuycash is a non-crypto digital wallet that can be easily created and used by dobuy users as the fastest and most reliable digital payment. dobuycash is always calculated in equivalence to the local currency of the user’s geography, and it allows easy usage and conversions to dobuycoin.
Between the dobuyLedger and platform layers, communication is established using a standardized Application Programmable Interface (API). Using these multiple standard platforms can quickly be built as verticals on top of the base dobuyLedger blockchain layer. Towards Financial Institutions (FI’s), the platform offers functionality. The interface between FI’s and each platform is facilitated with a second API layer. The API’s within this layer are platform-specific and offer FI’s easy-to-use standardized methods to use the platform’s functionality and DobuyLedger at the bottom of the stack. In the future new media that provide additional functionality, for example, timestamping services, can be used by FI’s and other businesses, using function-specific API’s that give access to the platform within the Dobuy software stack.