A new Australian cryptocurrency aims to be the first in the world suited to everyday mainstream use.
Launching in October, LivenCoin — or LVN — is the brainchild of the team behind the Liven rewards-based mobile payment network.
The Liven app is already used by over 200,000 Australians to pay for food and beverage purchases at over 1,000 of the country’s best restaurants, cafes and bars.
Liven’s reward system currently gives consumers a percentage of their bill back as LivenCash, which can be put towards their next bill or donated to charity. It is now expanding this model with the introduction of cryptocurrency LivenCoin, or LVN.
Powered by blockchain technology, LVN is the basis for a revolutionary new food economy that is set to go global. What makes it is unique among cryptocurrencies is that it possesses an intrinsic value as it is built on an existing payment network, and it will be usable by thousands of consumers and brick-and-mortar businesses from day one.
This allows LVN to avoid the major drawbacks of other cryptocurrencies, which are not easy to use for everyday purchases and can be wildly volatile in price.
LVN also solves the problems that deter small businesses from adopting cryptocurrencies by making the payment gateway simple and user-friendly, and by allowing merchants to choose whether they want to be paid in LVN or traditional currency, regardless of which payment method their customers choose.
Moving from the current Liven internal currency, which is pegged to the Australian dollar, to LVN, will make the Liven network globally accessible, and enable the business model to expand on an international scale.
The funds raised via the Initial Coin Offering will be used to further expand the Liven network to cities around the world, including New York, San Francisco and London.
Getting in Early
Five billion LVN tokens will be created as part of the LVN Initial Coin Offering, and 1.7 billion of these will be up for grabs to investors keen to get in on the ground floor of this exciting development.
Expressions of interest can currently be registered at livenpay.io