Payment apps like Venmo and CashApp are uninsured, hold custody of your funds, have no privacy and are inaccessible to most of the world. Traditional fiat currencies are very slow at global transactions but are backed by economies and governments. The better blockchain payment apps are non-custodial, easily accessible, and private allowing for instant transactions, but have no real value because they aren’t backed by anything. Tokens lack any real incentive for potential users to make the switch from fiat. Blockchain tokens are also well known for their volatility, thus making them unusable in a real-world economy. Lack of adoption and volatility plague the cryptocurrency market which is viewed as merely speculative digital assets rather than real currency.
LootUp plans to solve the issues that traditional and crypto markets are lacking by taking the strengths of both to make them stronger. LootUp will create a secure, private, backed, non-custodial p2p payment platform with real mainstream adoption as well as the world’s first decentralized global reserve (DGR). Our vision is to create the mechanisms to become the first globally adopted decentralized payment platform and self-regulated and backed digital asset.