SYS-CON MEDIA Authors: Pat Romanski, Yeshim Deniz, Zakia Bouachraoui, Liz McMillan, Janakiram MSV

News Feed Item

Second Largest Digital Currency to Be Launched in the UK

OXFORD, England, March 25, 2015 /PRNewswire/ --

The world's second largest digital currency, LEOcoin, was launched today (25 March).

     (Logo: http://photos.prnewswire.com/prnh/20141219/721470 )

The coin can be officially traded in a few days' time when LEOcoin's own exchange - LEOxChange - is opened in Hong Kong (2 April). It will also be recognised by other digital currency exchanges.

Headquartered in Oxfordshire, LEOcoin's launch follows plans announced last week by Government to regulate the digital currency sector as it continues to grow.

A new generation technology, LEOcoin is expected to have greater usability and accessibility compared to other digital currencies. In its initial phases, LEOcoin is proving attractive to emerging start-ups and enterprises - because there are no intermediaries charging commissions, which often present significant barriers to growth.

A new survey undertaken by YouGov, reveals that almost 50% of small to medium sized enterprises, who trade internationally, said transaction fees were a key concern; and 43% who transacted using debit or credit cards were also worried about the associated costs.  

Despite only just being launched some 100,000 entrepreneurs are already actively using the currency in anticipation of its trading debut, making it second only to Bitcoin. It is also in the process of expanding its on and offline merchant base around the world to accept LEOcoin for goods and services. These range from vinyl records and bicycles to real estate. The peer to peer network allows users to make fast, secure and cost effective transactions.

The key features of LEOxChange are:

  • Instant transactions: direct trading between LEOxChange members (which includes suppliers and retailers) means there are no intermediaries so you can set your own bid and offer prices and the volume you want to trade
  • Zero Commission: no commission or transaction fees on purchases. A small commission on sales.
  • Transparent and easy to use: easily understood bid and offer prices and quantities are on display. Full details of the trades completed are visible on an online ledger.
  • Secure: high level encryption systems keep all transactions and records secure, keeping your trading environment and personal data safe.

LEOcoin has committed to releasing a maximum of 28,800 LEOcoins per day for a limited period of 99 years, equating to a total of 1bn LEOcoin, after which no more will be generated. This means it is designed as a deflationary currency that will increase in value as demand increases.

Dan Andersson, co-founder of LEOcoin, said: "The launch of LEOcoin today is an important chapter in the evolution of the global digital currency market and is a big statement about the future of the sector against a backcloth of scepticism to date.

"The industry needs to do much more to establish its credibility - this was borne out by the YouGov study which showed that whilst SMEs find transaction fees a concern when doing business abroad, 85% indicated they were unlikely to use a digital currency. Also it revealed that whilst awareness is very high at some 86%, only two percent already accept a digital currency.

"These numbers don't surprise us given the negative publicity many of the digital currencies have had. We believe this has been down to such currencies being complicated, inaccessible and not user friendly.  

"We aim to address these issues to give users confidence by providing a transparent and straightforward operating system. We have also focused on developing a currency that is intended to be used by everyone. Consequently we anticipate that within five years, individuals and casual users will have increased exponentially as ordinary consumers start to see the benefits of privacy and security offered by LEOcoin, whether trading at home or abroad.

"This is a very dynamic and fast moving area in financial services and we are aiming to bring digital currency into the mainstream."

Contact
Sofia Costa
+44(0)117-907-3400

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expensive intermediate processes from their businesses. Accordingly, attendees at the upcoming 23rd CloudEXPO, June 24-26, 2019 at Santa Clara Convention Center in Santa Clara, CA will find fresh new content in full new FinTech & Enterprise Blockchain track.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
In today's always-on world, customer expectations have changed. Competitive differentiation is delivered through rapid software innovations, the ability to respond to issues quickly and by releasing high-quality code with minimal interruptions. DevOps isn't some far off goal; it's methodologies and practices are a response to this demand. The demand to go faster. The demand for more uptime. The demand to innovate. In this keynote, we will cover the Nutanix Developer Stack. Built from the foundat...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City.
AI and machine learning disruption for Enterprises started happening in the areas such as IT operations management (ITOPs) and Cloud management and SaaS apps. In 2019 CIOs will see disruptive solutions for Cloud & Devops, AI/ML driven IT Ops and Cloud Ops. Customers want AI-driven multi-cloud operations for monitoring, detection, prevention of disruptions. Disruptions cause revenue loss, unhappy users, impacts brand reputation etc.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
The graph represents a network of 1,329 Twitter users whose recent tweets contained "#DevOps", or who were replied to or mentioned in those tweets, taken from a data set limited to a maximum of 18,000 tweets. The network was obtained from Twitter on Thursday, 10 January 2019 at 23:50 UTC. The tweets in the network were tweeted over the 7-hour, 6-minute period from Thursday, 10 January 2019 at 16:29 UTC to Thursday, 10 January 2019 at 23:36 UTC. Additional tweets that were mentioned in this...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio a...
Technology has changed tremendously in the last 20 years. From onion architectures to APIs to microservices to cloud and containers, the technology artifacts shipped by teams has changed. And that's not all - roles have changed too. Functional silos have been replaced by cross-functional teams, the skill sets people need to have has been redefined and the tools and approaches for how software is developed and delivered has transformed. When we move from highly defined rigid roles and systems to ...
After years of investments and acquisitions, CloudBlue was created with the goal of building the world's only hyperscale digital platform with an increasingly infinite ecosystem and proven go-to-market services. The result? An unmatched platform that helps customers streamline cloud operations, save time and money, and revolutionize their businesses overnight. Today, the platform operates in more than 45 countries and powers more than 200 of the world's largest cloud marketplaces, managing mo...
Docker and Kubernetes are key elements of modern cloud native deployment automations. After building your microservices, common practice is to create docker images and create YAML files to automate the deployment with Docker and Kubernetes. Writing these YAMLs, Dockerfile descriptors are really painful and error prone.Ballerina is a new cloud-native programing language which understands the architecture around it - the compiler is environment aware of microservices directly deployable into infra...
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. DevOpsSUMMIT at CloudEXPO expands the DevOps community, enable a wide sharing of knowledge, and educate delegates and technology providers alike.
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...