The Digital Currency Monetary Authority (DCMA) has set wheels in motion for a new self-custody and completely private digital cash system. Unicoin, is set to revolutionize the way people handle money by offering a point-to-point digital cash implementation. This exciting pilot is taking place in both Latin America and Africa.

Transforming Mobile Devices Into Wallets

Unicoin brings a unique solution to the table. It implements true cryptographic digital cash that enables money transfer directly between mobile devices. This is achieved by employing wireless point-to-point technology such as Bluetooth and Near-Field Communications (NFC). This innovation transforms each mobile device into a hardware wallet, housing its own localized ledger. As long as another device operates under the same Unicoin Digital Cash Protocol, transactions are possible.

Bridging the Gap between Electronic and Digital Cash

Unicoin provides an integrated solution by supporting both a bank wallet for regulated electronic cash and a mobile wallet for private digital cash. Unicoin holders can link their mobile wallet to their bank wallet, allowing for seamless transfers between them. This is similar to depositing and withdrawing cash into and from a bank account.

Fostering Financial Inclusion

Unicoin digital cash is an excellent fit for developing countries, particularly those with limited access to Smartphones or Internet connectivity. Rural merchants and individuals without access to banking services stand to gain from Unicoin. The technology is geared to foster financial inclusion initiatives.

Enhanced Features for Internet-Connected Devices

Mobile devices with internet connectivity can take advantage of enhanced features, including access to foreign exchange rates. This allows digital cash mobile wallets to settle money transfers in any legal tender.

Safety and Security Considerations

Unicoin advises users not to store a large balance in the mobile digital cash wallet. Like cash, if the mobile phone is lost or stolen, there is no recovery method. For sizable digital cash payments, it is recommended to transfer funds from the bank wallet to the mobile wallet only at the time of payment.

Integration with Public Payment Systems

Unicoin’s digital cash solution can be easily integrated into ATM machines, Point of Sale (POS) devices, and public payment systems. These include ticketing and payment machines in bus and train stations.

The Unicoin digital cash solution is currently undergoing piloting in both Latin America and Africa, with expectations of a full product release in the next six months.

About the DCMA and Universal Monetary Unit (UMU)

The DCMA is globally recognized for its advocacy of digital currency and monetary policy innovations. Its members include sovereign states, central banks, commercial and retail banks, and other financial institutions. For more information visit their website

Universal Monetary Unit (UMU), or Unicoin, is a legal money commodity that can transact in any legal tender settlement currency. Unicoin supports both electronic cash and digital cash payments. For more information, visit

Source: DCMA