Digital money is becoming more popular than ever nowadays. With the arrival of the coronavirus, businesses are turning their heads away from cash and welcoming contactless forms of payments to facilitate a higher level of hygiene when customers pay for goods and services. Such measures include paying with a debit or credit card or perhaps using mobile to pay using apps like Apple Pay or Samsung Pay, or the use of smartwatches. People are welcoming technology to reduce contact with other surfaces that could get them infected.
This situation has also helped the cryptocurrency industry by highlighting the need to implement a more efficient way of paying. Cryptocurrencies have recovered in price through the last few weeks, with Bitcoin reaching the $10,000 mark once again. Even though cryptos represent a great solution to today’s issues, governments and businesses are still wary about its implementation. Despite this particular scenario, some cryptos could significantly improve certain aspects of a few industries that desperately need some help.
Among such industries is digital content creation. One of the major issues this industry has is the risk that content creators face when they publish their content to multiple social media platforms. The massive spread of the content causes for original authors to quickly get lost in a sea of reposts, reshares, and outright stealing. Additionally, content creators do not get all the recognition for their work, and a lot of their income gets lost in reposts.
How It Differs From The Rest
Compared to other fiat currencies like EUR, USD or GBP, the LKSCOIN offers a payment token that can be easily integrated into social networks and in user-generated content platforms. It also bypasses all the problems of obtaining mandatory licenses, such as the e-money license, which is necessary for companies that intend to host fiat money deposit accounts on behalf of third parties. The LKSCOIN reduces transaction fees by avoiding the use of cards and other providers (such as Paypal, Stripe, etc.) and keeps transactions public, ensuring data transparency and inalterability thanks to blockchain technology.
The LKSCOIN also offers enhanced features compared to other cryptocurrencies in the market by minimizing the transaction fees linked to use (approx. to 1%), making most of the cryptocurrencies in the market impossible to use in micropayments transactions. It also eliminates the costs and risks of creating a private blockchain and problems related to the creation of a proprietary token at tax, law, and cybersecurity level.
Another feature that the LKSCOIN offers it’s the layer technology of its blockchain. By combining the best out of two of the most effective blockchains, DASH and Ethereum, the LKSCOIN allows the managing of a higher and faster number of transactions than other technologies in the market. The Ethereum blockchain provides the LKSCOIN with a more extensive user base that is already using it, easing the learning curve for newcomers. Additionally, the smart contracts platform facilitates the integration of products and services. Furthermore, thanks to the PoS system, social network users have the opportunity to set up a Masternode, which allows their participation in securing the network and obtaining a monetary reward established by the LKSCOIN monetary policy.