Unicoin’s Point-to-Point Digital Cash system represents a private self-custody form of money that isn’t shared on any distributed ledger. The system basically transforms a mobile device into a hardware wallet with its own localised ledger, and it allows it to transact with another device operating the same Unicoin Digital Cash Protocol.
Unicoin offers both a bank wallet for regulated electronic cash and a mobile wallet for private digital cash. Furthermore, Unicoin allows its users to attach their mobile wallets to their bank wallets and transfer money between them as if they were depositing and withdrawing cash into a bank account. Mobile devices that have internet connectivity benefit from additional features such as foreign exchange rates. In this case, digital cash mobile wallets are able to settle money transfers in any legal tender.
How does the system work?
Firstly, users need to download and install the mobile…