Blog of a Consultant
Offering information about Blockchains and Consulting

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LCNEM is a stable coin project on smart assets blockchain NEM. This is a generic term for tokens that eliminate the volatility like traditional crypto currency, which is realized by a method such as making stable coins equivalent to the statutory currency.

In general, the crypto currency is subject to fluctuations in price more than the legal currency, and currently there are problems such as risk of market fluctuation in actual society use.

Therefore, LCNEM issues stable coins by using the unique token issuing function called mosaic of NEM block chain, and it plays a part of spreading blockchain.

LCNEM Stable Coins are issued as prepaid payment means in Japanese law, so we can sell under the regulation.

In Japan, Act of Settlement of Funds force prepaid payment means issuers to deposit our assets to government, so counterparty risks can be suppressed.

You can buy LCNEM Stable Coins at LCNEM Wallet

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The following is a “Future vision of LCNEM”.

“Prepaid payment method”

LCNEM is legally a prepaid payment method, classified as “self-contained type” . This is because there is no contract with a franchise store or a settlement system for contract franchisees.

However, since self-type can “only” sell other prepaid payment methods such as Amazon gift tickets etc., , so it is natural that we chose a choice for the transition to “third party type”.

Q. What is a self-contained prepaid payment method and a third party prepaid payment method?

If LCNEM moves to a third party type, LCNEM will be able to respond to cash to franchise stores even if LCNEM cannot respond to the cash payment of all users based on the capital investment law (in addition to preventing Money Laundering).

If LCNEM does, you will be able to exchange not only with Amazon gift tickets but also with merchandise of all franchises, so the price (lc:jp, lc:usd etc,) will be more stable.

However, there is the strict “Cabinet order” that net assets must exceed 100 million in order to issue third party prepaid payment method.

“Self-type prepayment type payment method with issue amount exceeding 10 million yen”
“Third party type prepayment type payment method”
are obliged to deposit assets equivalent to more than half of the unused balance after issuing to the country. (There are also aspects that LCNEM can suppress counterparty risk by this)

In order to exceed the limit of net assets and prepare for deposit, it is our prospect that LCNEM will choose not only fundraising but also using NEM community fund proposals. We think that LCNEM has a huge potential to recharge NEM block chains, so we would like to propose it.

”LCNEM Taking over the commission”

When sending transactions, NEM imposes a commission on XEM for purposes ,for example, preventing spams.
However, to purchase XEM, you have to register at the Cryptocurrency Exchange, which makes it difficult for LCNEM to reach to some who want to make cashless remittance with LCNEM, but are not interested in cryptocurrencies with intense volatility.

Therefore, by using the “aggregate transaction” which can collectively execute multiple transactions at once,
When Alice sends X lc: jpy to Bob
LCNEM sends 0.05 XEM (commission fee) to Alice
Bob sends 5 lc: jpy to LCNEM
Alice sends X lc: jpy to Bob (purpose)
We think that it would be better to create an API that makes these transactions into aggregate transactions.

In this way, even if Alice does not buy XEM (the funds will be given to the recipient Bob), Alice can use the block-chain at all without going through the Cryptocurrency Exchange.

in conclusion,
“Cashless remittance of revolutionary commission”
“Substitution of statutory currency at DEX (Distributed Exchange)”
“Forex trading at DEX”

Because the potential is huge, we think that we will step forward more and more.
Please continue to believe in us.

this is quoted from blog of our CEO ( 1).