On Aug 31, 2019 , the Tokyo based messaging titan “Line” has revealed within a announcement the launch of its own cryptocurrency “Link” (link.network) together with its first blockchain network, “Link Chain”, because both versions has independently created by Line.
The Link are going to be exclusively on the “Bitbox” during September. Line with this maneuver has become one of the first public companies to obtain launched a proprietary blockchain mainnet using its own cryptocurrency.
Line can be a well-known freeware app for fast communications on gadgets such as smartphones, tablets, and personal computers. Line users exchange texts, images, video, and audio, and conduct free VoIP conversations and video conferences. The service is operated by Line Corporation, a Japanese subsidiary from the South Korean search on the internet giant Naver Corporation.
Line will issue the token for their users who are able to join its decentralized applications (dapps) built relating to the Link Chain network. The token are working the form of an inducement instead of employing the ICO model. This reward system will allow users Link since the compensation for applying certain services throughout the Line ecosystem.
The firm asserted that the genesis block of its Link Chain was produced on August 23, 2019 . Good announcement the corporation will gradually distribute 800 million tokens into the public users away from 1 billion of the network’s Link tokens and keeping others in the industry for the company’s reserve.
The firm laid out in the announcement that Bitbox currently is not a licensed exchange platform in Japan by Financial Services Agency.
For residents in Japan, Link point are going to be used as a substitute for Link, and Link points shouldn’t be exchanged, deposited, withdrawn, transferred, or traded at cryptocurrency exchanges, including Bitbox before Line gets an official regulatory authorization, allowing it to only be used in combination with Line points today due to the recent regulatory crackdowns in Japan and then in the US. This program the time being, that can be exchangeable to your full crypto asset once Bitbox becomes licensed in Japan. The tokens might be further used as the payment means within LINE’s existing ecosystem.
Interestingly, Bitbox will offer at least 30 different cryptocurrencies and support 15 languages while waiting to be approved in Japan.
As per the announcement “Line strives to generate and provide innovative financial services unique to Line to close the space between people and money. Bitbox will allow the exchange of cryptocurrencies, and accept exchange between fiat money and cryptocurrencies.”
Line, also launched an Intermediator service for trading or exchange of cryptocurrencies via cryptocurrency exchange Bitbox through the new subsidiary established on April 11, 2019 , in Singapore called Line Tech Plus PTE.
With this latest move, the giant is gazing to integrate blockchain into its existing business ecosystem.
Even though cryptocurrency values have up to now been tricky to predict, but within the inland northwest key portions of influencing a project’s success. One of the big factors is technology and smart innovation. While investors don’t necessarily should know about the technical information about a project, however progression is visible here.