Press releases
An Interview With Federico Olivo, President, and Founder of LKSCOIN
Bitcoinist | Jun 15, 2020 | 15:08
Federico Olivo is the founder and current president of the LKSCOIN, a cryptocurrency destined to change the way content creators protect their ownership rights. Federico is also the chairman and co-founder at Vistra SRL, a company specialized in offering consult and training services on Quality, Health, Safety and Environment (QHSE). With a portfolio of over 500 customers in Italy and abroad (Eastern Europe, Africa, Middle East, Northern, and South America, Asia), Federico has managed to create and lead a successful business for over 20 years. Through this interview, Federico comments on his latest project, the LKSCOIN, which will change the way content creators work.
When asked about the origin of the LKSCOIN, Federico mentioned that he and a group of friends identified a problem in the social media industry. Content creators were putting out their material but were having a difficult time turning content into profit. After careful consideration, Federico ad his friends thought about introducing a cryptocurrency that could work as a means of payment for creators, offering low transaction fees, and becoming a new incentivization method for everybody who used the social media platform. In 2017, the LKS Foundation was created as an association that could work in the development of something new, an innovative and useful tool for everybody with a huge potential that could change the way social media is perceived.
This was the first reason that led us to think about the necessity of creating a center for the promotion of technological and social innovation, and the LKSCOIN quickly became our method of turning this into a reality.
This innovative idea immediately got us to ask ourselves how. How could the LKSCOIN help content creators protect their digital rights? According to Federico, the creation of a non-fungible token or NFT will help creators claim the authorship of their content. The underlying technology of the NFT will link the origin of the content to its author through a simplified interface that will connect the verified identity of the user using the KYC procedure to the content created by them. This blockchain-based model will solve a significant issue in the digital world, copyright of digital content, which is usually shared and dispersed in multiple social networks, losing track of its primary source. As explained by Federico:
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 their content. LKSCOIN wants to shape a future in which no one has to think about “terms of use” when choosing a social network since all content will be protected and compensated for the time they spent creating it.
For this sole purpose, the LKS Foundation is promoting a fundraising campaign on Eidoocrowd to create the NFT and the platform. At the end of the token sale, the token will be listed and exchangeable for other cryptocurrencies in the market.
Another question that came to mind when discussing the LKSCOIN was its value over time. The introductory price during the crowdfunding campaign for the NFT is 0.01€, which seems like an excellent opportunity to invest. Federico assured us that although their primary objective was not to turn this token into a speculative item, his team strongly believes that the value will genuinely be measured on the growth of its users. Through the expansion of the platform and the user base, the LKSCOIN will increase its value turning this into a golden opportunity for investors. Compared to other projects that present an IEO in its initial phase, LKSCOIN comes with a different proposal, a cryptocurrency that is already being used.
LKSCOIN has also achieved important milestones:
- LKS Foundation has signed an agreement with Cam.TV for the use of LKSCOIN
- LKS Foundation signed a contract with Hashratelabs for the exchange of LKSCOIN / FIAT
- The number of daily transactions exceeds 30K
- The Goal of the 900 Masternodes has been achieved
To date, LKSCOIN is the official crypto of Cam.TV, exchangeable with fiat currencies (such as euros), and adaptable to different structure needs.
Cam.TV was the first company to adopt LKSCOIN, also because it was the first platform to have rewarded LIKES economically, so the marriage of intent was easy and immediate. Federico mentioned that many companies are showing interest in understanding and evaluating the implementation of LKSCOIN in their platforms.
Federico also shared part of the tech behind the LKSCOIN, and the reason why they decided to combine two of the most successful blockchain networks. Similar to breeding two plants in agriculture, he said that they tried to get the best characteristics out of both blockchains. The native X11 blockchain is solid, and thanks to the masternodes, it allows multi-level participation by users who want to support the project; however, the Ethereum blockchain offers greater versatility, such as the possibility of creating NFTs.
Through the interview, Federico also shared how his company coped with the consequences of COVID-19. This global pandemic caused major panic throughout the finance sector, scaring and confusing many investors in a time of global uncertainty. Despite this, Federico is confident that the cryptocurrency industry is a growing market, capable of recovering quickly. If anything, COVID-19 has helped this industry by promoting global adoption and future developments.
COVID-19 was and is a problem that has upset our regular habits, but has also made us jump into the future by forcing us to use the net more to carry on our work and our lives in general.
People did get more familiar with the web, and LKSCOIN is an element of the network that, in its small way, offers tools and opportunities to that digital world in which we are all migrating willingly or unwillingly.
At last, Federico shared his thoughts about the future of LKSCOIN and the LKS FOUNDATION. Accordingly, his plans include creating a campus where they can host companies and brilliant minds to help improve and develop the platform, creating new business models in line with the times. Additionally, the future development of NFT will help to counter fake news and allow copyright protection, satisfying a need in the market.
More than a foreseen future, LKSCOIN offers a tangible and tested solution for many industry problems that we see today. Over 360,000 people on CAM.tv are already using LKSCOIN, and with plans to expand to other platforms.
To discover more, please visit www.lkschian.io and for the IEO visit https://crowd.eidoo.io/app/project/lkscoin.
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