Cryptocurrency DGCoin Project Created By DigiBank and Jubilee Exchangebr>
DigiBank has teamed with Jubilee FinTech Holdings to create a new cryptocurrency called DGCoin.
DigiBank is a digital-only bank service licensed in the Commonwealth of Dominica. Digibank aims to incorporate technology to traditional offshore bank services to achieve 3 crucial comparative advantages, namely full digitalization, faster processing speed and lower transaction cost. Jubilee FinTech Holdings is the operator of Jubilee Exchange, an online cryptocurrency exchange platform.
According to the release, DGCoin is a transactional cryptocurrency that would be designed to develop a decentralized and globally deployed online infrastructure. It would be the foundation of providing global banking and financial services to the masses. Its blockchain is called DIGI (Decentralized Intelligent Global Instruction).
Jubilee claimed that DIGI will be the world’s first tri-ledger blockchain. It will process records of all DGCoin transactions, all trading instructions and results on Jubilee Exchange, as well as all fiat transactions made by Digibank customers.
The project will begin this year and will be implemented in four consecutive stages. Stage one is the ‘foundational service layer,’ in which the DIGI blockchain will be set up and tested privately by a controlled group of miners. Stage two will introduce individual banking transactions and peer-to peer-transfers. Stage three is called ‘decentralized productive wealth management,’ meaning that crowdfunding and business loan capability will be added to the blockchain. Stage four relates to the deployment of a global network of automated teller machines (ATMs) and service kiosks that would help bring certain mass market services.