Dear friends of LivesOne,
Two weeks ago, we mentioned Xinhua news about "The Chinese leadership held the 18th collective learning on the development status and trend of blockchain technology ". On November 7, China Daily reported that China will take blockchain technology as an important breakthrough in independent innovation, and will accelerate the development of blockchain technology and industrial innovation.
This news not only caused great response in the domestic blockchain industry, but also caused a huge storm in the international market with related media attention.
NASDAQ website reported “The greater cryptocurrency and distributed ledger community interpreted this embrace as a positive, noting that approval from China’s government will speed adoption and development of the technology.” Meanwhile, it also pointed out “The Chinese Central Bank is also reportedly testing a state-backed crypto asset (DCEP). If and when this asset is revealed to the public, it could have a huge impact on the cryptocurrency space worldwide. It would mark the first fiat digital currency product from a leading world economy and could very well motivate other governments around the world to launch digital currencies of their own.”
It is consistent with LivesOne's view on the development of China's blockchain regarding China’s crypto asset is “the first fiat digital currency product from a leading world economy”. While everyone is talking about it, let's talk about the way LivesOne has been sticking to.
LivesOne always believes that the core of the blockchain is the application scenario. It solves the problems of authenticity and security in the traditional Internet model. Blockchain technology can improve ability of password anti-deciphering and prevent records from being tampered with.
We learnt that early blockchains, including Bitcoin, are experiments on this new technology. The core of the blockchain is the application scenario. The translation of “Token” in Chinese is not “Coin”, but a proof of stake. Without the scenario, the "Token" is worthless. It can be said that all the current coins are actually a "Point" that can be circulated and traded. The real "Coin" must be from the official promotion.
From the beginning, LivesOne decided to do the circulation of "Token". Just like when banks start to support online payment, they open their own gateways. If merchants and users are connected with gateways of different banks one by one, it will make it harder to make online payments universal. China leads the world in online payment and mobile payment, because there are enough excellent three-party payment tools in China.
LivesOne will be a third-party payment tool for cryptocurrencies. Each currency or chain is the equal of a separate bank. LivesOne will connect these "banks" for developers and merchants to use.
Therefore, LivesOne will be focus on three points.
First, follow up the development of blockchain technology and continuously improve the underlying security technology. LivesOne will invest heavily in human and material resources in this field to provide a stable and secure payment environment for users.
Second, improve the payment interface according to different public chains and application scenarios. Gradually perfect the interface support of the mainstream cryptocurrencies (such as BTC / eth / BSV..., and the multi-currency fast compatible interface mode.)
Third, attract more developers and applicators to join the community, and promote the universal interface of cryptocurrencies in the direction of games, content, e-commerce and social etc all over the world.
Many proponents may have a question. How will the value of LVTC be reflected?
As mentioned above, the "Token" is a proof of stake, so LVTC is LivesOne's certificate of interest, which will be used to evaluate the integrity of developers, merchants and payee users. In this system, we will waive all service fees for the payers, and the payee (interface user will deduct LVTC according to his credit level and protocol type. That is, the lower the credit rating, the more LVTC will be deducted, and the higher the credit rating, the smaller the amount of LVTC will be deducted. Users who use the interface to pay for any cryptocurrency will be rewarded LVTC.)
In short, the payee will pay LVTC to the system as a proof of good faith in each payment, and the payer will receive LVTC award as a contributor. In addition, LVTC will gradually expand a variety of financial services as a "Token" in the LivesOne community.
A series of events have proved that LivesOne has chosen the right route. As long as it keeps going steadily and keeps up with the pace of the times, the future will be better. Let us look forward to it together.
Symbiosism Economy Foundation
Nov.13,2019
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