Singapore Project Lists Its Token

David Kemp

Singapore never stops surprising the crypto community with its amazing projects and progressive ideas. As the most recent news reports announce, a smart city project that is based on blockchain intends to list its native token. Its listing, in turn, will be arranged on one of the crypto exchanges. Plans for token listing are impressive and many specialists admit that this may lead to further developments and implementation of other innovations in the future.

Limestone Network mainly focuses on creating smart cities. As we have recently found out, the companyhas announced that its group will soon list its native token known as LIMEX. All this will occur on the crypto exchange called Bitrue. As the representatives say, their token is created for trading, and thousands of customers are looking forward to trying this asset out.

Experts who have analyzed the report say that LIMEX is likely to integrate a whole smart city's applications. Some of them include property management while others concentrate on retail malls. There are applications for financial services as well as payments.

A lot of people are willing to obtain those applications for parking and transportation. The number of purposes is limitless and covers entertainment and F&B. All of the mentioned aspects form an intelligent urban ecosystem. Professionals admit that leverage blockchain is one of the key elements for successful and productive data management. This is what the industry needs for privacy, too.

The brand began with a one-hundred-hectare private development project in Cambodia. As participants say, it intends to have ten thousand tenants and a daily population of around one hundred and ninety thousand people on board.

Simplifying Daily Operations

The network, according to numerous reports, has already adopted blockchain technology – all that allowed data collection through residents’ daily touchpoints as well as sharing. At the same time, this procedure by no means provokes the invasion of consumers' privacy.

The team also expects that this project will support a more thorough understanding of the area’s functions. This would cover power consumption, water usage, road traffic, and resident movements to name a few. Also, the entire project is going to include various partnerships and offer applications for ride-hailing, financial institutions, and telcos.

No doubt, this plan is great since it will strengthen the ecosystem. Authorities are discussing how ready people would be to let officials control their data and usage. Permission-based networks allow consumers to manage consent and individuals can be aware of the processes that data and usage involve. Merchants and service providers will permit people to verify their identities. To do this, customers will need to request the data using private smart contracts.

Participants agree that blockchain’s beauty is in its ability to provide power and control to customers. Data portability should be secure so that people wouldn’t need any agencies between consumers and service providers. This would save lots of money and time.

Limestone boasts a mobile application that will let citizens to register for digital documents like passports. After verification and screening, people will gain access to various features and the system will permit them to perform digital payments, receive micro-loans, and carry out dozens of other daily tasks and operations.