Line will Launch Crypto Currency Competitors of Bitcoin

Line ensures that it will launch a digital token, a link for cryptocurrency transactions this month. On Friday (31/8), Line said the expansion of the business was a company effort to reach a wider business in addition to efforts to boost the number of users who continued to decline.

This Japanese company said that later users can use the Link on the blockchain network
named Chain. However, unlike other crypto currencies, users cannot get links through the Initial Coin Offering (ICO).

Line will give its digital currency through the reward system as compensation after certain services are used.

The link can later be used as a payment tool to buy content such as stickers, themes, games, and more on the Line application. This digital currency will begin launching this month and will later be registered with the Bitbox which accommodates digital assets globally.

"Over the past seven years, Line has been able to grow into a global service because of users, and now with Link we want to create a compensation system for users," said CEO Line, Takeshi Idezawa, as quoted by Techcrunch.

***Later there will be 1 billion links that will be distributed gradually. About 800 million links will be given to users, while another 200 million will be managed by the Link publishing company as a reserve fund.

Quoting Reuters, for reasons of local regulation the Link coin is not available to users in their home country, Japan and the United States. The use of the digital link currency is said to still hit regulations in both countries. (evn)***