The New Money, (D)ICE (D)ICE Baby

Fiat currency refers to legal tender currency that is backed by a central government but not backed by a physical commodity. This type of currency rose to prominence in the 20th century, especially after the collapse of the Bretton-Woods agreement where the US ceased the coupling of gold with currency in the 1970s. On the other hand, cryptocurrency is not legal tender as they are not backed by a central authority. There are different advantages for each type of currency. Fiat currency is pretty much accepted universally as a form of payment which makes it extremely convenient. For cryptocurrency, the advantage is that it is decentralized, meaning that it is not dependent on the strength of a central authority. For example, in Zimbabwe, the government spent money irresponsibly and implemented wage and price controls which resulted in large budget deficits. This resulted in the government printing massive amounts of money that caused hyperinflation in the Zimbabwe dollar. This example shows how central authority can make bad decisions which destroy the value of a currency. As both cryptocurrencies and fiat currencies have their own strengths, what kind of currency can we use that has the benefits of both currencies without their weaknesses?

The answer to this question is DICE. DICE, an abbreviation of DIgital CErtificates, is a new form of digital currency consisting of 1024-bit data blocks. As individual data blocks, DICE can be transferred online and offline through email, usb drives and even QR codes. This allows DICE to have the same amount of usability as real-world money as it can be used basically anywhere, even without an internet connection.

In addition, DICE is not backed by a central authority. It retains the decentralization of cryptocurrencies through the revolutionary ‘cluster model’. Each node in the DICE ecosystem plays an ‘operator’ role. ‘Miners’ are clustered around each operator in the network. These miners make use of their computational resources to bundle relevant data into data blocks that fulfill a certain difficulty requirement. Any DICE units that miners generate can be kept by them and in turn, the overall value of the associated operator increases as well. This provides an incentive to miners to continue mining and also to operators to get more miners to mine for them and maintain a database of the mined DICE units. With this intrinsic motivation in play, each cluster essentially has its own ledger, achieving true decentralization.

Furthermore, DICE facilitates fee-free transactions as both miners and operators already earn monetary benefits from creating DICE. This is an advantage over current cryptocurrencies which require a transaction fee.

As you can see, DICE combines the best of both worlds of cryptocurrency and fiat currency. With both its decentralization and convenience, DICE is the true real-world money replacement. Take a look at their whitepaper and social media to find out more!

Find out more about DICE at:

FB: https://www.facebook.com/DICEsup/
Twitter: https://twitter.com/dicesup
Medium: https://medium.com/@DICEsup
Telegram: https://t.me/DiceMoney