Cryptocurrrencies and the blockchain technology in general
have gained huge acceptance and adoption in recent years, and various institutions, businesses, and emerging projects are hinging on this decentralized, revolutioized technology to drive their concepts and existing products to the next level. On blockchain, people can write entries or data into a record of information, and a community of users can control or stake claims to how the record of information is amended and updated; leading to flexibility, anonymity and security. Despite the rapid growth in the popularity of digital currencies, their use in everyday life remains a challenge. Various reasons ranging from fluctuations in value of cryptocurrencies, to interoperability between crypto and fiat mechanisms lead to doubt on the part of consumer.
Steps have been taken in the development of market relations between cryptocurrrencies and acquisition of real life products by a project called LivenPay; which aims to provide convenient use of cryptocurrency for payment for goods and services with the use of loyalty programs.
INTRODUCING LIVENPAY
LivenPay is a platform aimed at setting a path through which cryptocurrencies will be used every day, through this way resulting in a universal reward network with its own integrated payment services. Within the framework of this network, users will be able to pay for goods and services using internal tokens of the LVN platform, which, if necessary, will be automatically converted into Fiat money in accordance with the exchange rate used in the international market. LivenPay has been in existence thus having more than 400,000 users and be processing millions in payments while rewarding its users for every transaction they make.The type of currency accepted will be determined by the institution providing goods and services. Blockchain means a lot to LivenPay platform as through this way, they will have their own cryptocurrency thus having the power to solve existing issues and the ethereum network will be employed.It is important to note that the value of LVN coins will increase as new partners join the network, ready to provide their services within the framework of the platform, which will cause the participants of the platform to use the tokens of the platform for payment.
FEATURES OF THE LIVENPAY ECOSYSTEM
¶ It is very Transparent: With the aid of blockchain technology and smart contracts, LivenPay will have a transparent and trustworthy LVN to Fiat conversion rate, thereby any payment consumers make with LVN through LivenPay's gateway will be converted to fiat and paid to the merchant.
¶ Has a large network of Of Merchants: With LivenPay being an existing payment network with over 1,000 brick and mortar business in addition to over 40,000 customers using the platform to purchase food one can see there will be a need for more restaurants while LVN will be used in a daily basis.
The merchants, on the other hand, will not be affected at all as they will not be able to tell the difference in the currency used owing to the fact they will still be paid with fiat. Also, they can opt for LVN.
¶ An efficient Platform for Charity Fundraising: LivenPay aiming to give back to the society will Implement fundraising support for charities where users will have the opportunity to share their LVN with a charity of choice. Charities, on the other hand, will be exposed to an audience of consumers at a time.
GAMIFICATION
Gamification strategies that will be incorporated into Liven include ‘levelling up’, where users reach higher levels of achievement for performing certain actions. Greater rewards for users who display desired behaviour and achievement badges for completing challenges, such as visiting a set of restaurants, referring a certain number of friends or simply discovering all of the features of the applications. These elements will access funds from the company’s promotional token reserve, the broader scale marketing budget or from Liven’s commission on certain transactions. Liven’s initial gamification mechanics will not be decentralized by design, but an extension of the company’s ongoing lifecycle/ retention marketing efforts, and calculated strategically to fit well within the long term value (LTV) determined acquisition cost (CPA) of an active platform user. Further investigation into decentralization of these mechanics will be conducted at a later date.
SOCIALISING PEER-TO-PEER FINANCE
Incorporating blockchain technology into Liven’s Platform makes it possible for users to easily send currency, split bills, and share rewards, making peer-to-peer sharing simple. Users will be able to purchase LVN externally to ‘precharge’ their account or to gift to friends and family. In order to make the Liven Platform more accessible on the user level, the Ethereum wallet address that stores users LVN balance will be supplemented by a username handle, similar to those used on Twitter or Instagram. The @handle mechanism is familiar to users of these popular social platforms and using it with LVN will create an instantly recognizable experience, which lends itself to an increased facility of entry into the practical applications of cryptocurrency for everyday consumers.
PARTNERS
CONCLUSIVE THOGHTS
I like to judge the usefulness of any emerging project by the amount of solution it plans to bring to any given sector. The main goal of the developers of LivenPay is to create a unique network for payment for goods and services with its own reward system, which allows ordinary consumers to use digital assets as the main means of payment on a daily basis.
Please do well to connect with any, or all of the links below for more information.
Website:
https://livenpay.io/
Whitepaper: https://s3-ap-southeast-2.amazonaws.com/livenpay.io/LIVEN-WhitePaper(EN).pdf
LinkedIn:
https://www.linkedin.com/company/liven/
Telegram:
http://t.me/livenpay
Twitter:
https://twitter.com/livenpay
Facebook:
https://www.facebook.com/livenpay
Medium:
https://medium.com/livenpay
Author's Bitcointalk Username: levi001
Author's Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2472222;