LKS Foundation

Science & Technology

Why LKSCOIN is important

2020-04-17 13:48:24

LKSCOIN, what is it for and why support it

In today's world, social media has taken on a very important role in the lives of individuals. Everyday habits have absorbed the use of these tools, both positively and negatively, and this fact inevitably represents a paradigm change dictated by human progress. 

Being a new technology, its efficiency potential is still at a minimum while the energy to support it is at its maximum. The role of entrepreneurs and visionaries is to balance these two forces, and then to excel the first factor. 

In the world of blockchain technologies we are still in the initial phase, but step by step, project after project, we are getting closer to the final goal. 

In the case of LKSCOIN this is particularly true with regard to sharing video contents on online platforms. If we consider the canonical channels with which share those contents, they present various defects, even serious if intellectual property is taken into consideration. In fact, it is almost impossible to trace the ownership of a certain content and you risk being ousted from the legitimately created material.

From this point of view, LKSCOIN is quite revolutionary in its field of action, since by educating social media users about their rights and possibilities LKSCOIN will become the tool that will allow them to have/give access to any type of digital content on any platform that decides to integrate it. Moreover, users will retain all the copyrights of the contents. 

LKSCOIN wants to shape a future in which no one has to think about "terms of use" when choosing a social network, since all their contents will be protected and compensated for the time they spent creating it

Obviously the LKSCOIN project does not stop at videos only, but also looks at books, images and much more. Social media are the web 3.0 canvas and there are thousands of artists out there ready to take the opportunity to get noticed. Not only will they now be able to have fun in their creations, but they will be encouraged to create more thanks to a secure, traceable and decentralized remuneration system. Tokenization is the way of the future and, as we saw in another article, it represents an economic model capable of incentivizing economic actors to preserve and profit from types of capital that up to now with fiat money was impossible to capitalize.

From this point of view, LKSCOIN stands as a reference point in this sector with its innovative ideas and ready to bring efficiency to the world of blockchain technologies. 

In fact, the LKS Foundation aims to promote and spread the culture of blockchain, the main tool of the revolution of decentralization, as well as promoting initiatives that use the principle of sharing information using blockchain technologies and spreading the culture of fintech to innovate in sectors such as crowdfunding, ICOs and distributed accounting technologies.

To pursue these objectives, LKSCOIN was created, a cryptocurrency structured to have a significant impact on the Internet as it offers the possibility to track and remunerate, through payments and donations, content creators within social networks, which are the present and the future of the Internet itself. Not only that, but LKSCOIN can be implemented in many social networks.

Compared to fiat currencies (EUR, USD, GBP, etc.) LKSCOIN allows you to:

● Bypassing all the problems related to obtaining the various licenses, such as the one called e-money necessary to host a deposit account for third parties within its platform;

● Reduce transaction fees related to the use of cards and other suppliers (Paypal, Stripe, etc.) which make microtransactions uneconomic, increasing costs even by 100%;

● Make timely payments without having to collect them upon reaching a pre-established threshold or period;

● Keep transactions public by ensuring transparency and unalterability of data thanks to the blockchain.

Compared to other cryptocurrencies LKSCOIN allows you to:

● Minimize the transaction fees linked to the use of the main cryptocurrencies (tending to 1%) which today make it impossible to carry out micro-payments in the order of EUR cents;

● Completely eliminate the costs and risks of creating a private blockchain, as well as all further problems related to the creation of a proprietary token both in tax and legal terms.

These obviously are the main advantages, but reading the white paper in depth, we will discover others that will add to those already listed, forming a solid basis of potential value for a token that wants to further increase the development of blockchain technologies.