Τhe Launch of the Fourth Generation of Blockchain Technology in Dubai
(From right to left): Mr Jackey Choi, Director, Locus Chain; Sang Yoon, Lee, Managing Director & CEO; Professor Sally Eaves, Advisor, Locus Chain; Simon Zenios, Legal consultant, Locus Chain. (Supplied Photo)
On Sunday 29th April 2018, an organization based in Singapore called Locus Chain Foundation announced the launch of the fourth generation of blockchain technology. This fourth generation blockchain platform will make it possible to execute secure, end-to-end transactions using blockchain technology in under two seconds (the shortest time ever) irrespective of the broadband speed.
The Locus Chain Foundation is an organization led by Mr Sang Yoon Lee from South Korea who is better known as a pioneer in the world of gaming and is supported by industry-engaged experts with more than 20 years of expertise.
The technology developed by the Locus Chain Foundation will provide tools and services to strengthen the charity fundraising capacity of grantees, tools and services for resource development and crowdfunding. It further enables the possibility to make transactions safer and faster than existing financial networks and will also be able to ensure transparency in financial services.
Announcement of a Funding Mechanism
In another global first, Locus Chain Foundation also announced that deserving people in developing countries would receive support through a funding mechanism which has been set up with this purpose in mind. This mechanism will utilize fourth generation blockchain technology so that the beneficiaries receive funds in the form of crypto assets, in what will be the first time that blockchain technology will be used for such causes.
The Foundation has already raised a significant amount of funding and has also signed partnerships with several organizations from around the world. Through the joint efforts of Locus Chain foundation and its partners, the funding mechanism will be utilized to support the causes.
The aim and hope are that the Foundation’s operations will help to break the cycles of poverty, violence and inequality that have plagued ‘third world’ nations for the longest time now and it hopes to do this by being at the forefront of identifying people, services and programmes as well as innovative ideas that raise consciousness, community leadership and capital.
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