The team behind the Lightcash project aims to solve the cryptocurrency volatility problem and become able to unlock all the advantages of blockchain technology by linking a cryptocoin to the real highly-demanded asset. This is why Lightcash’s own cryptocurrency (LCSH) is secured by real gold, mined from deposits in Russia.
“The Lightcash parent company owns a working gold mining facility in the Amur Region of Russia, as well as a plant for the enrichment of precious metals, and it possesses the necessary state licenses,” says Vyacheslav Vokin, Lightcash CEO. “Using this infrastructure we will be able to ensure the stability of our service by issuing own cryptocoin secured by real gold in a 1000:1 ratio.”
Price volatility is the main element preventing the faster penetration of cryptocurrencies to the real world. After hitting a record mark of $20,000 in mid-December 2017, Bitcoin’s price fell below $7,000 at the beginning of February 2018. As a result, over $60 billion was wiped off the value of the entire cryptocurrency market.
Such fluctuations undermine the trust of investors and potential users of cryptocurrencies. Few people want to invest in an unstable asset, and it is also hard to use such a tool as a payment method or for remittance purposes due to constant price changes. As a result, cryptocurrencies are becoming just a niche for speculative traders, and the potential for this concept remains unrealized.
The team behind the Lightcash project aims to solve the cryptocurrency volatility problem and become able to unlock all the advantages of blockchain technology by linking a cryptocoin to the real highly-demanded asset. This is why Lightcash’s own cryptocurrency (LCSH) is secured by real gold, mined from deposits in Russia.
“The Lightcash parent company owns a working gold mining facility in the Amur Region of Russia, as well as a plant for the enrichment of precious metals, and it possesses the necessary state licenses,” says Vyacheslav Vokin, Lightcash CEO. “Using this infrastructure we will be able to ensure the stability of our service by issuing own cryptocoin secured by real gold in a 1000:1 ratio.”
Lightcash project closed pre-sale is scheduled for March 2, and the main token sale will take place on March 15. The main goal of the token sale is to raise funds for the purchase of a new deposit of ore gold in the Republic of Buryatia, Russia. This will allow the company to provide a full load to its precious metal enrichment plant.
Sales of the project’s internal cryptocurrency LCSH are scheduled for May 2018. Lightcash will close the deal to acquire a new gold deposit in summer. Gold mining will start there immediately.
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Consulting Manager at Emurgo, Blockchain and Tokenization advisor Rated on Feb 22, 2018
5
5
5
15%
Until 1971 $ USD was backed by gold and silver reserve now USD is backed by "full faith and credit" of federal reserve. No a dollar bill is not lawful money, but rather “legal tender.” this is same in most countries.
LCSH is providing gold backed crptocurrency to curb volatility problem, this also also creating mini ICO's in the platform. Interesting project.
CEO Pecunio Blockchain Technologies Rated on Feb 22, 2018
3
3
3
3%
Avoiding volatility is a clear use case. However the key issue here is not the supply of gold, this is a commodity. It's all about trust and a strong branding.
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LLC "Lapri mining" based, which is engaged in mining of ores and sands of precious metals.
License for geological survey, mineral exploration and recourse development was obtained.
2
October 2016 - April 2017
Required equipment imported, geodetic chain was built and extracting gold site was prepared.
3
May 2017 - October 2017
Within the collected sample first 81 kg of gold were produced.
4
June 2017
Formed the concept of the project Lightcash Blockchain System.
5
October 2017
Elaboration of service architecture and preparation of "White Paper" document.
6
September 2017
Execution of the judicial document. Brand book production.
7
August 2017
Market problems research and market analysis.
8
July 2017
API and mobile application B2C development for calculation of the cryptocurrency between companies and their users through QR technology.
9
November 2017
Web & mobile service development launch.
10
December 2017
Lightcash OpenAPI platform test. Token protocol development, integration with scoring platforms, setting up self-regulatory token exchange algorithms.
11
January 2018 - February 2018
Execution of the site for ICO. Testing the Smart contract. General audit of the project.
12
March 2018
March 5th, 2018 - pre-sale start.
March 12th, 2018 - ICO start.
13
June 2018
Completing transaction for the purchase of "Greenfield" and commencement of operations.
14
May 2018
Release of the service.
Market launch of its cryptocurrency Lightcash Crypto Gold (LCCT).