ADM Ecosystems last week announced a new patent for ATM-style machines that will facilitate decentralized applications (dApps) for the public. The beta launch is planned in Puerto Rico for 2019.
The Automized Decentralized Machines (ADMs) will provide public access to location-based dApps. In a partnership with I/O Digital Foundation, the ecosystem will be based around the I/O coin (IOC), the Chameleon framework and the ADM. The Chameleon framework allows for the creation of unique and interoperable I/O digital sidechains.
In a statement, ADM Ecosystems said: “ADM Ecosystems LLC is providing location-based decentralized Apps serviced on fully equipped ADM terminals, mobile and web, connected to a decentralized Blockchain, to store, send data and value transfers in or through a decentralized blockchain network.”
The ADMs will provide services such as voting, making international payments, providing proof of ownership of documents, signing documents and converting between fiat and cryptocurrencies. The providers will be able to choose in which regions their dApps will be made accessible.
Users will also be able to make their own smart contracts using the ADMs. A smart contract is a digital contract that is fulfilled when the conditions are met. ADM Ecosystems give the example of someone getting ownership of a new car automatically once they send over the payment for it.
The ADM Ecosystem will bring back color to #fintech and connect the real world with #blockchain based applications. Many use cases possible: Storing documents | Cast your vote | Notary services | Insurance | @coindesk #WBFNY #WBFNYC https://t.co/7WsVa7rE1y pic.twitter.com/VgIh1uRtNm
— ADM Ecosystems LLC (@Admecosystems) June 12, 2018
The ADMs will be equipped with authentication hardware such as fingerprint scanners, chip card readers, pin code buttons and even IRIS scanners. For the dApps, they will have a USB port, an A4 scanner, and printer. They have already been designed by the ADM team who have entered a provisional patent.
I/O Digital are developing an open source blockchain ecosystem project focusing around the I/O coin. They did not do an initial coin offering (ICO) to kickstart funding and are a not-for-profit foundation.
The Chameleon framework has been under development for two years and will allow for community voting and the ability to increase scalability through sharding.
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