Link allows its holders to access a wide range of services and decentralized applications, which are known in the crypto world as “DApps”.
LVC Corporation, a subsidiary of messaging giant LINE Corporation (LINE) announced it will launch trading of its proprietary cryptocurrency Link in Japan next April 2020.
In this way, local media reported that LVC, that also is the operator of LINE’s cryptocurrency and blockchain-related businesses, is developing a system meant for Link’s debut in Japan on its local cryptocurrency exchange BitMax.
This digital currency was not available in Japan although its launch on October 16, 2018, through the cryptocurrency exchange BITBOX.
Due to strict cryptocurrency regulations in Japan, LVC had to wait to obtain a license from Japanese financial regulators, something that took place in September 2019 before launching BitMax cryptocurrency exchange in the country.
Link is not available in the United States yet. However, the currency is available in other countries around the world and now it is time for Japan.
On the one hand, there are not many details about the launch. LVC is currently developing a system to prepare LINK’s debut in Japan. On the other hand, the coin’s exact release date will be announced separately once it is determined by the company.
According to the official website of LINE, Link allows its holders to access a wide range of services and decentralized applications (DApps). DApps are networks in which users have full control of their operations. In this way, DApps allow people to access different services safely.
“Our goal is to build a token economy that can be used by anyone, conveniently and naturally as part of daily life”, the currency’s white paper explains on the official website.
Messaging Platforms and Cryptocurrencies
Besides, on its official website, LINE comments that more than being just a mobile messenger, it has become “a smart portal that provides comprehensives solutions for all aspects of our users’ lives”.
LINE explains the reasons why it launches a digital currency: “Through the launch of our blockchain and token economy, LINE is optimizing how we share value and promote mutual growth as we continue to transform into a new digital era”.
Since Link can be used for a wide range of services, LINE assures that this feature makes the digital currency “more valuable than a crypto-asset that is limited to a single service”. It adds that a single-token economy can make the overall ecosystem “more dynamic and stable” because DApps could contribute to the growth of the economy.
Other social networks are interested in developing cryptocurrencies to establish its crypto economy. The best-known examples are Facebook, with Libra, and Telegram, with GRAM.
Both Kik and Telegram are currently struggling in legal battles with the United States Securities and Exchange Commission (SEC) over the alleged sale of unregistered securities to U.S. citizens. Kik recently requested the formal definition of a trial date for its lawsuit with the SEC whilst SEC fortified its case against Telegram.
Facebook also has had problems to launch its digital currency since governments like Germany, France, and the US consider the social media giant has a lot of personal information about their users.
However, messaging platform ideas are enough to discuss and consider launching or not global alternatives to traditional currencies and change, in this way, the traditional business world.
By María Rodríguez