On July 16, LDJ Capital, which is a private equity company, announced in a press release that it was launching a blockchain-based banking app called LDJ Digital. They are dong this in cooperation with Share Internet Data Ltd., which is a crowdsourcing firm.
The LDJ Digital app will act as something similar to a debit card, and it will allow users to make purchases using either standard fiat currencies or digital currencies. The app will also provide various banking services to those who currently do not have access to them.
The app will make use of Share Internet Data's existing platform, which is based on blockchain technology. Currently, the company uses this platform to allow users to share their Internet access through a mobile app. Users seeking Internet access then can connect to this access in a similar fashion as connecting to a mobile hotspot, but without having to provide passwords. The platform automatically connects them when they are in vicinity of a connection.
The platform requires the purchase of cryptocurrency tokens in order to gain access to the Internet, and the company recently completed a successful sale of these tokens through what is known as an Initial Token Offering (ITO).
Jose Merino, who is the CEO of LDJ Digital, says that the key feature that the app will provide through its decentralized Internet ecosystem is inclusion within the financial system for those who are currently excluded.
LDJ Digital is not the only company right now developing decentralized Internet ecosystems. Last month, it was reported that Helium, which is a company started by Napster founder Shawn Fanning, had performed a limited launch of a platform that provides hotpots for Internet of things (IoT) devices. Though the platform is not only a decentralized Internet ecosystem. It also aims to create practical use cases for the utilization of the sensing mechanisms that these devices offer. Such use cases include pet tracking and bicycle theft prevention.