Line Launches Digital Coins
Popular in Japan instant messenger Line will become one of the first publicly traded commercial organizations that launched their own digital currency.
The Genesis-block LINKChain was generated on August 23rd. The issue will be 1 billion LINK tokens, of which 800 million coins will be publicly distributed, and 200 million will remain with the organization.
Coins will be distributed among developers of platforms created on the basis of the distributed registry LINK. The first two software companies will appear in September, the rest - in the first quarter of 2019.
In addition, the LINK token will be entered into the listing of the trading BITBOX cryptographic platform owned by Line. The coins in the future will be used as a means of payment in the Line’s ecosystem.
The Line platform and BITBOX trading platform were created by the Singapore subsidiary LINE Tech Plus PTE. Currently, BITBOX is a trading crypto platform that has not been registered with the Financial Services Agency of Japan, which complicates the process of its application by residents of Japan.
In August, the Line administration announced that it was launching a $ 10 million crypto fund, the purpose of which was to stimulate the development of the crypto industry and distributed registry technology.