DUBAI, UAE, April 30, 2018 /CNW/ - Locus Chain Foundation, a Singapore-headquartered organization, has announced the launch of the fourth generation of blockchain technology. In a global first, the technology will enable a secure transaction - end-to-end - to be concluded in under two seconds irrespective of the broadband speed.
Locus Chain Foundation is led by Mr. Sang Yoon Lee, the gaming legend from South Korea.
The Foundation is a transformative force for the emerging new global financial ecosystem backed by industry-engaged experts with more than 20 years of expertise.
Locus Chain Foundation is expanding its technology to offer tools and services to strengthen the capacity of grantees in charity fundraising, resource development, crowdfunding and access to donor and foundation databases via its technical platform
Sang Yoon Lee, President and CEO, Locus Chain, said, "We are very proud to launch the fourth generation of blockchain technology with cutting-edge security access and transaction with biometric inputs. We are now applying the blockchain technology, which seemed to be far away from the real world, to real life and develop it as a technology that anyone can use. Our team forms a unique blend of technology, finance, business and humanitarian talent."
The Foundation has announced the setting up of a funding mechanism that will use the fourth generation blockchain technology to help beneficiaries receive funds directly in the form of crypto assets. This is, perhaps, for the first time that such a large-scale initiative is being implemented by utilizing blockchain technology.
The Foundation, which has already raised a significant amount, has signed partnerships with many organizations from around the world. Along with its partners, the Foundation will implement the funding mechanism to help the causes.
Keun Young Kim, Founder, Locus Chain, said, "Very few are willing to take a risk as the initial funder. They want a safe bet. Locus Chain Foundation believes that the given technology elevates awareness of these emerging leaders and its services and programs. It will spur others to provide additional support, creating a ripple effect in the community based on the clearance."
"We believe that our secure and reliable technology, with transparency, traceability and seamless connectivity is a key foundational component to enable us in uplifting people and caring for our future generation regardless of geographical boundaries," he added.
SOURCE Locus Chain Foundation