In a world where most ICOs scam or fail, could LFT be the one token that ultimately emerges from the dust?
Blockchain technology is evolving rapidly. As thousands of projects mushroom in the blockchain industry overnight, the rest of the world is gradually starting to understand the various applications of blockchain.
Both industry heavyweights of other industries such as the Internet and finance, and new start-up teams, are going right into blockchain.
I do not want to sound like a sceptic. However, there are way too many projects that paint great utopian pictures. Unfortunately, their visions are too far away from being materialised as they simply cannot be supported by blockchain technology, as we have it now. They require the further development of the technology many years down the road.
Yet, ICOs have become an effective tool for moneymaking, and it has been drawing extensive amounts of money to their investors. Perhaps that is why 80% of ICOs turn out to be scams, according to a 2018 study conducted the New York based Satis Group LLC, a premier ICO advisory company which also works as a digital asset focused investment bank.
Amidst the cacophony in blockchain and cryptocurrency, I am going to introduce you to a promising start-up in the industry, called Linfinity. Most notably, rather than eagerly moneymaking, Linfinity is not a member of the ICO family, which means it did not conduct the ICO process, yet the team’s strategy is clear and their business logic appears sound. They are actually well on their way of materialising their project, having secured tangible partnerships and made progress on technological development.
Its corresponding token LFT therefore has huge room for growth. You should pay attention to this too and seize the chance before it is gone.
It is implementing real solutions
First, an introduction to the company. Linfinity provides companies in the supply chain with personalised solutions. These solutions will be based on the blockchain, and supported by IoT technology LoRa (it stands for long range; it is a patented digital wireless data communication IoT technology). It aims to be a one stop shop for supply chain companies, helping them with supply chain tracking and monitoring, anti-counterfeit measures, and predictive maintenance.
They are making good progress so far. Linfinity already has a strong foothold in cigarette manufacturing and distribution, biomedical supplies, product storage, finance, law, and information. The company has partnerships with other companies in the aforementioned industries. It is among the earliest to find its footing among all the other blockchain companies, and it is quickly becoming more influential in both Singapore, where it is based, and around the world.
Nowadays, there are many near perfect supply chain management systems. However, big shortcomings still persist, such as the difficulty in tracking every stage and obtaining detailed and specific data to avoid counterfeits. Furthermore, most companies use different supply chain management systems, and mistakes are made easily due to the lack of inter-operability. When data is transferred from one platform to another, it is not only inefficient but incurs higher costs.
To solve problems in the supply chain, Linfinity has created a public chain and various subchains stemming from it. The public chain can ensure the safety of the accounts of various products, and has the capacity to handle complex smart contracts. On the other hand, the subchains are customised for individual companies and fulfil their needs in a specific manner. The subchains are where Big Data analysis and smart contract signing and execution take place. At the same time, every company that partners with Linfinity are playing a part in making Linfinity’s ecosystem grow and thrive.
Linfinity’s partnership with Alishan cigarettes, a cigarette manufacturing company in Taiwan, can be used as an example to illustrate what Linfinity does. Alishan is using Linfinity’s platform to do supply chain tracking, from the purchase of raw materials to the sale of final products to consumers. This ensures the quality of the cigarettes and helps with Alishan’s efforts to fight counterfeit cigarettes. This greatly reduces the cost of supply chain management and increases its efficiency at the same time.
A look at the people behind Linfinity
The process of judging whether a company is reliable or not will not be complete without taking a look at its team. Linfinity appears to have a very strong team coming from diverse backgrounds. All of its C-suite executives have a background of leadership in their various industries.
Linfinity’s CEO is Anndy Lian. He’s an all-rounded business strategist with more than 15 years of experience in Asia. He has provided advisory across a variety of industries for local, international, and public listed companies. Prior to Linfinity, Lian played a pivotal role in not-for-profit and quasi government linked organizations.
CTO Xuecai Yu is a graduate from Harbin Institute of Technology and received Ph.D degrees in Computer Science and Technology. He has a strong portfolio in education and engineering. He previously served in Wanxiang Blockchain Labs as a senior software engineer and participated in the drafting of the White Paper of China’s Ministry of Industry and Information Technology.
COO Brian Tse has significant leadership experiences as well. He is the co-founder of EVO Capital and Hunan Yidake Techonlogy Company Ltd, and the consultant of Hong Kong Blockchain Consultant Ltd. Yu is an IT solutions expert with more than 18 years of experience in Hong Kong and China, and has successfully incubated more than 5 projects with a total capital value of over USD$100 million.
CIO Wenbo Liao comes from a marketing background. He is also an early stage angel investor in numerous blockchain projects, including Qbao Network.
On top of a star-studded team, they appear to hire many top talents across the business and technology sectors.
How the LFT token is distributed
The LFT token distribution system is noteworthy. Only 10% of LFT is reserved for its angel investors, and 15% belongs to the founding team, while 5% is used as vulnerability reward. The remaining 70% is reserved as a reward mechanism for its community and implementation of its commercial uses. Such a system is designed to maintain its credibility in the community, and it strives to be effective in aligning different stakeholders’ goals to a shared vision.
Linfinity has made it clear that it has never and will never go for ICO, it only had an angel investment round. Last Saturday, 14 July, LFT was listed on CoinEx, one of the largest cryptocurrency exchanges, hence, LFT’s value has not been unleashed yet. In the future when it starts appearing in more exchanges, normal investors will have a chance to join the community as well and reap its potentially rich dividends.
Right now, the LFT is at a stage of getting valuated, and we can look forward to its value being realised in the near future.