Line is a Japanese company that offers free calls and messaging services on a variety of smart phones, including PCs.
The company has just announced that it has launched its very own token based on the blockchain network. The name of the cryptocurrency is LINK, while the name of the blockchain system is LINK Chain.
While many companies are using ICOs to raise money for themselves, Line is doing it differently. Instead of creating an ICO and all the steps related to the process, the Japanese company will offer a special reward system for the token in exchange for services that Line offers. Essentially, the company is raising funds, but in the “old-fashioned” way.
In September, users will be able to get the LINK token, which will be available on the LINE’s BITBOX exchange, as reported by Sludge Feed. Users will be able to enjoy lower fees, as well.
The company is revolutionising its business model, since the messaging system will interact with the blockchain one, LINK Chain. Line is also thinking of working with different stakeholders and third-party developers to develop the apps and services of the company.
LINK tokens will number around 1 billion, where 800 million will be used for the reward system that the company plans to roll out, and the other 200 million will be under the control of LINE Tech Plus, the entity that created the token.