A revolution for digital currency to go into mainstream
HONG KONG, April 2, 2015 /PRNewswire/ — LEOxCHANGE, which serves as the first online exchange of the world’s second largest digital currency LEOCoin, was officially launched today. Members are able to make more direct, instant and secure transactions with LEOCoin, with no intermediary charging commission. Before, LEOCoin was launched officially in London on the 25th March 2015 at the iconic Tower of London, and was announced that it would be recognised by other digital currency exchanges. The developers are also looking to expand its on and offline merchant base around the world to accept LEOCoin for goods and services ranging from vinyl records and bicycles to real estate, to build a strong supporting community for the new currency. In its initial phases, around 100,000 entrepreneurs have already adopted it in anticipation of its market debut, marking LEOCoin as the second largest digital currency after Bitcoin.
Co-founders, Dan Andersson and Atif Kamran, introduced the launching of LEOcoin as a digital revolution.
Dan Andersson, Co-Founder of LEOCoin, described the launch of LEOCoin today as an important chapter in the evolution of the global digital currency market. "SMEs find transaction fees a concern when doing business abroad. With our transparent and straightforward operating system, we are confident to gain trust from users and thus help boost their scope for business."
The design of LEOCoin aims for the world’s entrepreneurs as well as private individuals. By applying a new generation of technology, LEOCoin surpasses other digital currencies in terms of usability and accessibility. In addition, a high level encryption system keeps track of all transactions and records, to assure users their trading environment and personal data is kept safe. Dan anticipated within five years that individuals and casual users will have increased exponentially, as ordinary consumers start to see the benefits of privacy and accessibility offered by LEOCoin, whether trading at home or abroad.
The long-term sustainability is also one of the product features. LEOCoin has committed to releasing a maximum of 28,800 LEOCoins per day for a limited period of 99 years, equating to a total of 1bn LEOCoins, after which no more will be generated. Under the foundation of a finite number of LEOCoins, the value will increase robustly as demand increases.
Given the negative publicity many of the digital currencies have had, Dan felt no surprise on the backlash of scepticism, and attributed the issue to the system flaw of being complicated, inaccessible and not user friendly. "The industry needs to do much more to establish its credibility. This is a very dynamic and fast moving area in financial services and we are aiming to bring digital currency into the mainstream."
About Dan Andersson
Dan has been self-employed since the age of 21 and has a background in management and training consultancy, much gained within the direct selling industry worldwide. He is a Master Practitioner Trainer and facilitator of Neuro Linguistic Programming.
After working with a range of businesses from banks and professional services to large retailers including Toyota and DHL, Dan returned to the direct selling industry when a UK Telecoms company asked him to join them as European Sales Director. From there he joined one of the largest Chinese companies where he was responsible for the 24 countries in Europe, as well as Israel, Canada and USA.
Prior to founding LEOTraining, Dan joined an entrepreneurial start-up, and from a base of just 300 distributors, grew it to 13 million accounts through an innovative hybrid of social networking and direct selling. In early 2012, he elected to leave the business to pursue his own vision and founded LEOTraining with Atif Kamran.
LEO stands for Learning Enterprises Organisation Ltd and offers entrepreneurship and leadership training through e-tutoring, e-learning and live seminars. Headquartered in the UK, it has subsidiaries in nine countries and members in 120 countries.
LEOCoin was initially introduced as a demonstration tool to illustrate how digital currencies work as part of the LEO training programme. In May 2014, as they had already successfully created the concept, Dan and Atif decided to formalise LEOCoin as an actual digital currency which acted as a type of ‘bonus’ for successfully completing training modules.
The decision to launch LEOCoin on an exchange and make it available to everyone came from the desire to make digital currencies more mainstream, and to allow a much greater number of people to benefit from increased security and privacy, as well as reduced or non-existent transaction fees currently charged by banks and other finance sources.