May 26, 2018
3 min read
If you’ve ever travelled overseas, you know the pain of converting currency. The challenges we face when exchanging money across international borders is one of the weakest areas of the global economy.
Cross-border payments are notoriously complex and unnecessarily difficult , and also vulnerable to fraud as currencies, varying banking systems, and economic governance combine to complicate the process.
This is especially inconvenient for travellers, who generally don’t have the time or money to experiment, and thereby separate the swift and affordable options from the more cumbersome processes. When it comes to something as simple as buying food in a foreign country, consumers have been lacking a timely and reliable method of international currency transfer.
And they’re just about to get it.
The world of global payments is ripe for disruption, and Liven, a revolutionary Australian dining rewards network, is stepping up to the challenge.
Currently, most international payments are processed through the correspondence bank model, a complicated four-step process involving a number of different financial institutions. Many overseas money transactions involve hefty fees and charges, and are subject to the different economic regulations between countries.
Liven is aiming to make cross-border lifestyle payments more user-friendly and efficient for consumers and businesses alike. We’re seeking to disrupt and transform the current means for transferring funds around the globe when it comes to something you need everyday: food.
Join Liven’s Telegram channel for more information on the LivenPay project.
With the imminent launch of our new cryptocurrency, LivenCoin (LVN), Liven‘s sights are set on global expansion, and international travellers are set to reap the rewards. Liven’s Ethereum ERC20 coin will be powered by blockchain technology, allowing for a transparent, public ledger that makes transferring money and buying food overseas a seamless transaction.
Already a pioneering dining rewards app within the Australian hospitality market, with more than 1,000 businesses and over 200,000 consumers on board, the natural next step for Liven is to take our successful model overseas. Plans are in the works to launch the platform in the US and UK, with Liven poised to stake its claim on the $US3.5 trillion global hospitality market, as detailed in the forthcoming Liven whitepaper.
Liven will enable users across the globe to transact in LVN, regardless of the fiat currency of the country they are in. Buying sushi in New York, or a pub lunch at a traditional English in London? No need to ignore your rumbling tummy as you calculate the exchange rate, transfer funds and lose a bomb in sneaky fees; when dining with a Liven partner merchant, you simply pay in LVN through the app in a few quick taps.
As LVN coins operate in a closed-network system, retailers stand to gain more repeat business, as consumers must eventually spend their coins within the network. For consumers, the ability to accrue LVN as cashback rewards means savvy spending when travelling.
Liven’s reward system will be a godsend for travellers, allowing them to earn between 10–25% of their bill back as LVN on each and every purchase they make through the system, which they can then use at a later date for future purchases.
Read more about how Liven is driving everyday adoption of cryptocurrency in this article.
Liven serves to address a universal need: food. The love of food and the cosmopolitan dining culture transcends international boundaries, and with no other cryptocurrency focused on addressing this niche, Liven has a captive market on which to unleash the platform.
Many of Liven’s partner retailers already operate franchises in other countries, creating a solid base from which to launch the brand worldwide. The Liven platform will continue to grow as it expands worldwide and is adopted by more and more merchants, who will undoubtedly recognise the benefits of being involved in the incentivised marketing the platform offers.
In addition to the benefits to merchants and consumers, Liven’s plans for global domination will benefit worthy causes worldwide, as the network grows to include new charity partners which consumers are able to donate their LVN rewards to.
Further details on the launch of the LVN coin, Token Sale opportunities and Liven’s international expansion strategy will be detailed in the soon to be released Liven whitepaper. More info can also be found on our Telegram channel, or our Token Sale website.
Read more about how The LivenPay project is building a stable cryptocurrency for the real world, and making the capabilities and benefits of blockchain technology accessible for brick and mortar businesses and everyday consumers in this announcement.