Japanese messaging giant LINE, launches own cryptocurrency and blockchain network, Link and Link Chain. The details were made available in a press release on the 30th of August.
LINE Cryptocurrency and Blockchain Tech
A new cryptocurrency, Link, built on a specified blockchain tech, Link Chain, and exclusively made available on the BITBOX (www.bitbox.me) which belongs to the same company for trading.
The messaging giant launches its cryptocurrency, Link and will be made available as a form of compensation to the users of the dapps which will be built on the LINE ecosystem. The Link (cryptocurrency) can later be used for payment within the services planned to be launched soon.
Takeshi Idezawa, the CEO of LINE states,
“Over the last seven years, LINE was able to grow into a global service because of our users, and now with LINK, we wanted to build a user-friendly reward system that gives back to our users. With LINK, we would like to continue developing as a user participation-based platform, one that rewards and shares added value through the introduction of easy-to-use dApps for people’s daily lives.”
LINE will issue a total of 1 billion LINK gradually with 800 million allocated for users reward and 200 million managed by the founders.
The press release noted that “For residents in Japan, ‘LINK Point’ will be used instead of LINK, and LINK Point cannot be traded or exchanged before LINE gets official regulatory authorization, and can only be used with LINE Points at this time.”
About Line Messaging Firm
Line is a Japanese firm that is dedicated to the mission of closing the distance, bringing together information, services, and people.
The LINE messaging app was launched in June 2011 and has grown into a diverse, global ecosystem that includes AI technology, fintech and more.