Charlie Lee should be a delighted man. It’s been a implausible week for Litecoin, and whereas all of us preserve speaking about different cryptocurrencies and Litecoin slips underneath everyone’s radar, they’re scoring unbelievable achievements that may take the token’s worth all the way in which as much as 100 USD and possibly even past.
Simply take a look at this three excellent achievements and needless to say all of them occurred inside a single week:
The Litecoin Basis acquired a 9.9% stake in Germany’s WEG Financial institution.
Final July 10th introduced a strategic partnership that’s nothing in need of spectacular. In Charlie Lee’s own words:
“This partnership is a big win-win for each Litecoin and Tokenpay. I’m trying ahead to integrating Litecoin with the WEG Financial institution AG and all the varied companies it has to supply, to make it easy for anybody to purchase and use Litecoin. I’m additionally enthusiastic about Litecoin’s help in Tokenpay’s decentralized trade.”
Different bulletins for brand new strategic partnerships introduced alongside the week have been:
- Multisignature Transaction Engine
- TPAY Cryptocurrency
- eFin Decentralized Trade (DEX)
- WEG Financial institution FinTech Platform
Abra allows purchases of bitcoin, ether, litecoin, digibyte, monero and extra utilizing your Visa or Mastercard in over 50 international locations. https://t.co/RHUfLJjty3
— Invoice Barhydt (@billbarhydt) July 13, 2018
All the above shall be utilizing Litecoin’s blockchain know-how to develop their blockchain initiatives. However proudly owning a bit of a financial institution is the actual story right here. Litecoin didn’t purchase the shares. They have been TokenPay’s, they usually gave it to the Litecoin basis in opposition to the know-how, experience, and work of the LTC group and founding members.
It’s 9.9% solely as a result of that’s as excessive as you possibly can go to Germany with out working into the regulatory purple tape. However TokenPay continues to be positioned to purchase as much as 70% of the financial institution, and they’re going to stay a really shut accomplice to Litecoin.
Let’s take a minute to consider what this implies. Right here now we have a cryptocurrency that owns (at the least partially) a real-life financial institution. Let’s face it. No person noticed this coming; everyone expects banks to purchase cryptocurrencies in the event that they become involved within the cryptocurrency sport in any respect. So this alone is a implausible instance of unique pondering and daring strategic planning from Charlie Lee.
However that’s the least of it. The toughest impediment any cryptocurrency has to beat is to leap from a bunch of esoteric code working on a geek’s right into a real-life product that may remedy real-life issues for real-life common individuals with no experience in cryptography, programming, arithmetic or IT. And that is exactly what this occasion can do for Litecoin.
Simply think about that now the Litecoin basis can use its model new financial institution to difficulty Litecoin-based credit score and debit playing cards. That might permit all types of individuals from everywhere in the world to depend on Litecoin for his or her every day monetary wants. With out having web service, with out proudly owning a digital pockets in any respect.
Are you able to think about utilizing Litecoin to purchase your cigarettes, to pay on your groceries in anywhere on this planet that takes Visa or Mastercard? Nicely, you can begin now, it’s a lot nearer than everyone thought.
If that form of frequent monetary know-how turns into obtainable via Litecoin, that can imply an enormous enhance in demand and new customers who possibly gained’t have the faintest concept they’re on a blockchain. And that can translate into market efficiency for Litecoin.
The Robinhood App provides Litecoin help.
The Robinhood App is a cell phone utility with an emphasis on ease of use and lack of transaction charges for cryptocurrency buying and selling. It’s at the moment obtainable in seventeen states within the US (with extra to return). On this magical Litecoin week, the app introduced it will embody Litecoin among the many cash obtainable to its customers. In addition they listed Bitcoin Money.
— Charlie Lee [LTC⚡] (@SatoshiLite) July 12, 2018
The #PayWithLitecoin marketing campaign retains advancing, solely now it appears actual
Litecoin has been encouraging its customers to make use of Litecoin in the actual world. The marketing campaign features a Twitter hashtag. Whereas nothing so revolutionary has occurred with that, the actual fact is that it retains shifting ahead and it appears to be working. This extra average excellent news continues to be excellent news as utilizing a coin begets demand and demand prompts efficiency.
So now you realize. Litecoin has been doing nice whereas we have been all simply trying the opposite manner. Perhaps we must always not make that mistake once more, particularly once they attain the USD 100 mark.
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Disclaimer: This text shouldn’t be taken as, and isn’t supposed to supply, funding recommendation. World Coin Report and/or its associates, staff, writers, and subcontractors are cryptocurrency traders and on occasion could or could not have holdings in a number of the cash or tokens they cowl. Please conduct your personal thorough analysis earlier than investing in any cryptocurrency and browse our full disclaimer.
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