Bitcoin’s underlying technology is one of the most exciting in the present times. Distributed Ledger Technology (DLT), or blockchain, promotes transparency, decentralization, and equal empowerment. A lot of research and investment has gone into exploring and understanding applied cryptography, the basics of blockchain, and the result has been a surge in cryptocurrencies, blockchain platforms, and exciting ‘decentralized’ projects. (See also: The First-Ever Ethereum IRA is a Game-Changer)
One of the latest of such projects is OCASH— the first all-in-one crypto-ready debit card. OCASH will bring the international card payments system to the OpenLedger network. This will allow token holders to use Stablecoins (SmartCoins), including bitUSD, bitEUR, bitGBP, and Rubles, plus other OpenLedger tokens, such as OBITS, BTC, and ETH, to purchase items anywhere major debit cards are accepted. The OCASH will allow the payment and withdrawal of any kind of cryptocurrency supported by OpenLedger, making currencies accessible anytime and anywhere.
On similar lines, there is the Shift Card—a Visa debit card which allows Coinbase users in select states and territories in the U.S. to spend Bitcoin anywhere Visa is accepted. When a user swipes a Shift debit card to make a purchase, the equivalent value of Bitcoin (based on the current spot price on Coinbase) is debited from the linked Coinbase bitcoin wallet. OCASH, however, is not just looking to support Bitcoin, but a wide range of cryptocurrencies.
"While initially providing current token holders with payment utility, the main vision of OCASH is to build a product that anyone can use as an ‘all-in-one bank on the blockchain’ solution, plus it is a great fit for the more than two billion unbanked people. With the accompanying OCASH app alongside the debit card, regular users will have a familiar platform to access and engage in the OpenLedger ecosystem.” said the company in a statement.
OpenLedger ApS has announced that the new token OCASH (OCS) will be launched at the end of August 2017. The OCASH concept will be rolled out in two phases spread across a timeline of five months.
“We are witnessing the birth of the biggest shake up in financial history with the introduction of our crypto-ready payments card, allowing instant withdrawal and POS payments,” said Ronny Boesing, creator of the OCASH concept and Founder of OpenLedger.
OpenLedger has revealed that there were around 3000 sign-ups to gain information about OCASH within 24 hours since the news first came out about the project. (See also: More Billionaires Are Buying Cryptocurrencies)