For any payment solution to reach mass adoption, a critical number of users must be gained first. This is the “chicken and egg” causality dilemma - consumers will not change their behaviour to adopt a new currency or form of payment if few outlets accept it, but those outlets will not invest the required time and resources to accept a currency with little consumer demand. This dilemma is not unique to payment focused solutions. In fact, any business model requiring two-sided market adoption faces the same challenge.
The economics of the LivenCoin network have been designed in an attempt to achieve price stability. Consumer payments made in LVN through the Liven gateway are converted to fiat and paid to the merchant according to the Liven Platform’s internal LVN to fiat conversion rate. This internal conversion rate is not based on a free-floating value determined by an external market such as a crypto exchange, but is instead determined by a decentralised protocol that adjusts the purchasing power of each LVN within the Liven Platform based on the total amount of LVN Tokens in circulation and the total amount held under smart contract in the Reward Cache at any moment. This transparent conversion rate gives both the consumers and merchants confidence in LVN’s purchasing power at any given moment (i.e. what amount of goods and services can be purchase and consume with the LVN Tokens). This also provides resilience to volatility, as users are likely to be less concerned about the LVN they hold dropping in value rapidly, as each token possesses spending capacity in the growing number of Liven partner venues that will accept payment through the app. Not unlike many business models, this economic model can be duplicated.
I have considered the project in all its aspects, and have drawn conclusions that the project has a far future. I will continue to monitor the project. I advise all this project.
Official resources of the project LivenPay:
WEBSITE: https://app.liven.com.au/bMtDIPxlPT
TELEGRAM: https://t.me/livenpay
WHITEPAPER: https://s3-ap-southeast-2.amazonaws.com/livenpay.io/LIVEN-WhitePaper(EN).pdf
ANN THREAD: https://bitcointalk.org/index.php?topic=5064715.0
FACEBOOK: https://www.facebook.com/livenpay
TWITTER: https://twitter.com/livenpay
MEDIUM: https://medium.com/livenpay
REDDIT: https://reddit.com/r/LivenPay
INSTAGRAM: https://www.instagram.com/livenpay/
LINKEDIN: https://www.linkedin.com/company/liven/
YOUTUBE: https://www.youtube.com/user/livenaustralia
GITHUB: https://github.com/livenpay
AUTHORSHIP:
MY BITCOINTALK USERNAME: Predators99999
MY BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=2441760
MY ETH ADDRESS: 0x63e73058e65Ba0FE3f925d2948988782d2617ab2
