Limestone Network To List Its Native Token LIMEX On Bitrue Crypto Exchange For Trading
Limestone Network To List Its Native Token LIMEX On Bitrue Crypto Exchange For Trading
July 27, 2020
Limestone Network To List Its Native Token LIMEX On Bitrue Crypto Exchange For Trading
Limestone Network To List Its Native Token LIMEX On Bitrue Crypto Exchange For Trading
July 27, 2020

Limestone Network, a Singapore-based blockchain project for building smart cities in the Cambodian capital, has announced that it will list its native token LIMEX on Bitrue crypto exchange for trading. 

On July 23, it has been reported that LIMEX will integrate an entire smart city’s applications such as property management, retail malls, payments, financial services, transportation, parking, F&B, and entertainment, to create an intelligent urban ecosystem. 

However, Limestone Network started with a 100-hectare private development project in Phnom Penh, the capital city of Cambodia. It plans to have 10,000 tenants and a daily population of 190,000 people on board.

It has been analyzed that Limestone Network has reportedly adopted blockchain technology to enable data collection through residents’ daily touchpoints and sharing without invading consumers’ privacy.

They also expect that this will give a more in-depth understanding of the city’s functions, including road traffic, power and water consumption, resident movements, and more.

ALSO READ :  Cypherpunk Holdings Increases Its Stake In Bitcoin

Likewise, the project plans to include third-party partners such as ride-hailing apps, telcos, and financial institutions to strengthen the ecosystem later on.

As per the report, the project is said to allow consumers to manage consent for their data and usage, as service providers and merchants will be able to verify consumers’ identities by requesting the data through private smart contracts.

Eddie Lee, the Co-founder and Managing Partner of Limestone Network, said:

“The beauty of blockchain is the ability to give power back to consumers.”

Moreover, secure data portability also removes the need for intermediaries such as agencies between service providers and consumers. These cost savings can then be transferred to consumers.

It has also been analyzed that Limestone also has a mobile app that will be an interface for residents to register for a digital passport.

Thus, once their identities are verified after screening against global databases, they gain access to features such as digital payments, building access, applications for microloans, and more.

ALSO READ :  Atari To Get Into Blockchain Space With New Functionalities On Its Upcoming Console

Source: Cointelegraph | Image: Modrika


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Huobi Labuan Launches Trading Services In Malaysia

Huobi Labuan Launches Trading Services In Malaysia

The new Huobi Labuan is launching trading services in Malaysia shortly after having secured a digital asset trading brokerage service license from their authorities in September 2020. It has been reported that for an...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.