Litepay’s Shutdown: What it means for LTC moving forward

LITEPAY IN THE DUMPS -- JUST LIKE CURRENT STATE OF CRYPTOS

Many of you probably heard the news, but if not, Litepay was recently postponed and then abruptly shut down due to numerous technical difficulties with finding a partnership for a service provider.

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Litecoin creator, Charlie Lee, recently issued a public apology for this unexpected occurrence because initially everything looked quite promising for Litepay’s initial release.

This initial release was scheduled to take place approximately one month ago, in late February, but was postponed due to the inability to find a partner to work with. This eventually lead to the cancellation of what seemed to be a revolutionary step toward Litecoin’s operational mission to change the way payment options are handled.

SO THEN, WHAT'S NEXT FOR LTC INVESTORS?

Well, the future remains bright for this alt because the team backing this project remains full steem ahead and extremely determined to find a way to make Litecoin primed for mass adoption. For now, I guess it’s back to the blueprint in order to fix any existing issues that may currently be present in LTC's technology.

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On a positive note, Mastercard recently noted that they would only consider partnering with a government backed cryptocurrency. Most, if not all, of the cryptocurrencies in the market will definitely not fall into this category, but there is a solid chance that Litecoin, among a few others (potentially BCH and ETC, maybe a few other notables as well) that may very well fall into this range.

This specific  statement from Mastercard indicates their anticipation to participate in the use of a digital currency for national interests. This would really do wonders for the crypto markets, as it would further push cryptos and decentralization as a legal tenure.

I guess now, the LTC foundation should really begin to focus more of their attention on forming a partnership with a project geared toward similar interests in lieu of coming up with a solution to the problem which was encountered. There remains a long road ahead and there may very well be some bumps in the road that have not been encountered just yet.

There are realistically a few options currently out there that could be of particular interest for the LTC foundation to undertake. One current project is known as Crypterium (CRPT). CRPT uses a mobile app which processes crypto payments by converting the particular currency being used to fiat during the transaction process -- no need for any cards with this particular application, which makes it relatively favorable for LTC with the recent mishap we saw with Litepay.

Another such option for the team behind LTC, is to continue moving forward with a clear mindset of what they want to accomplish. In January, Mr. Lee expressed his vision for SegWit and Lightning Networks on the platform itself. The team has an exciting future ahead, given the recent release of Litecoin Core 0.16.0 to kick start their progress moving forward towards reaching these particular goals.

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SO LTC is still a HODL, nothing has changed here, just remain patient and the profits will begin to pour in before we know it!!! 

Please note: None of the content presented in this article is financial advice. The information provided in this post is not to be taken forth as such, only as informational content for your education or as pleasure. Nothing should be considered as investment advice of any sort. Wishing everyone massive profits in the near future- steem on!