Liven Explains: Why do we Need the Blockchain?
Ask not what the blockchain can do for Liven, but what Liven can do for the blockchain
Despite the future-shaking possibilities of blockchain technology, there have been numerous cases of companies around the world shoving it where it might not be needed. Did anyone really ask for a cryptocurrency for the dental industry? Or a blockchain solution to sexual consent?
These, ahem, dubious cases have led a lot of punters to question why the blockchain should be added to any project that announces its use of the distrubuted ledger tech. Fortune 500 chief executives have also jumped on the detractor bandwagon, questioning crypto’s purpose and advantage over other traditional financial systems.
And while this is reasonable skepticism in many cases, for Liven, a cryptocurrency and blockchain integration simply made sense as the next evolution of our payments platform. Our 200,000+ users have been receiving their rewards in our own network currency — LivenCash — for four years now, and switching over to our digital currency LVN will not only be seamless, but hugely beneficial.
Our new digital currency will allow Liven to reward our users with credits that have real value, both inside and outside of the platform, and unlock a loyalty and incentive program for merchants without the common rigidity of existing ones.
Still not convinced? Here’s four reasons why Liven chose to use blockchain technology.
- Firstly, to help globalise and enable immediate expansion for our current network currency economy. Having our rewards currency as a borderless digital currency allows Liven to fast-track our expansions into locations such as London, New York, and San Francisco.
- Secondly, to expand our capabilities in peer to peer finance, social spending, gifting, and further the way our currency is used between different people to create a more fluid and dynamic payments system.
- Thirdly, to decentralise to our existing donation features, opening up never before seen transparency in the world of charitable giving.
- The fourth reason is more around the blockchain’s use case for Liven. We want to create a user-facing product that interfaces blockchain technology with traditional currency infrastructure to allow people to use a great product while easing them into everyday blockchain adoption.
That last point really sums up why Liven chose to implement cryptocurrency into its platform. As we’ve said before, cryptocurrencies have a utopian problem, and are actively being limited by their lack of everyday recognition and adoption.
By shifting our internal LivenCash network currency to our LVN cryptocurrency, the billions of dollars in Ethereum and Bitcoin globally will be accessible by small businesses around the world. Furthermore, the 99.9% of the population that do not engage with cryptocurrencies will find an accessible use case for blockchain tech in their daily lives.
And while you still might not be able to buy a burger and a coke with your Bitcoin, you’ll be able to buy so much more with LivenCoin through our network of over 1,000 restaurants. Truly a cryptocurrency for the future, and for the people
So to (badly) quote famous US President John F. Kennedy: “Ask not what the blockchain can do for Liven, ask what Liven can do for the blockchain”.
Read more about how The LivenPay project is building a stable cryptocurrency for the real world, and making the capabilities and benefits of blockchain technology accessible for brick and mortar businesses and everyday consumers in this announcement.