Liven is a Universal Rewards Network with Integrated Payments that is Driving Mass Consumer Adoption of Cryptocurrencies
MELBOURNE, AUSTRALIA – September 19, 2019 — LivenPay — maker of the universal lifestyle rewards app, Liven, that lets users spend and earn cryptocurrency rewards in over 1,000 restaurants across Australia — today announced the availability of Bitcoin Cash into the LivenPay ecosystem and the listing of its native token, LVN, on ZB.com. The company was oversubscribed in its highly successful ZB UP Launch.
Since 2014, Liven has grown to service 500,000+ users transacting at 1,000+ venues in Australia’s two largest cities, Sydney and Melbourne, with international expansion beginning in 2020 with London, UK and US. Processing millions in payments already, Liven rewards users with our network currency for every transaction they make. Liven is already integrated with a number of key Point of Sale (POS) partners allowing it to reach more than 25,000 venues. The next step in the evolution of Liven is the addition of blockchain to this payment system through the incorporation of an Ethereum ERC-20 token called LivenCoin, or LVN.
Existing network of merchant partner
The unique features of the Liven Platform and the existing network of merchant partners and users will seek to address both problems identified above. First, the economic design of LivenCoin reduces price volatility through a unique, internal conversion rate which gives LVN intrinsic value – every LVN Token in circulation possesses purchasing power that can be used within the Liven Platform. Second, the addition of the cryptocurrency payment gateway will be unnoticeable to merchants, as they are still paid in fiat. These features combined with Liven’s presence in hundreds of venues and large, active user-base assists Liven to overcome the current barriers preventing cryptocurrency adoption at a retail level.
Decentralised Reward Protocol
Liven’s decentralised Reward Protocol is governed by a smart contract which will enable rewards to be disseminated indefinitely despite a limited LVN Token supply, and encourages corrective behaviour with any external markets that may arise, as well as encouraging users to spend LVN back into the network as circulation increases. LVN Tokens earned by transacting can also be donated directly to a charity.
Strategic Partnership with Bitcoin.com
Up until now, diners using the Liven app at participating restaurants have been able to settle their bills with a single button tap, using major credit and debit cards, as well as the LivenPay cryptocurrency (LVN), earning rewards between 10% and 30% of their bill, paid in LVN. The LVN earned is the diner’s to keep, send to friends or, of course, spend at any other restaurants within the Liven network.
With support for LVN or ‘old-fashioned’ fiat currency, and soon to be Bitcoin Cash, LivenPay aims to make the day-to-day use of cryptocurrencies both attractive and accessible to the everyday people, resulting in a global loyalty rewards program that will eventually support a plethora of cryptocurrencies.
“With LivenPay as the ‘on-ramp’, we want to entice users and businesses around the world to enjoy the benefits of using frictionless, global cryptocurrency payments. With our future pipeline of cryptocurrency integrations, Bitcoin Cash is the next step to expanding cryptocurrency support and being truly blockchain and currency agnostic” said CEO and Co-Founder William Wong.
LivenPay’s existing ecosystem makes it simple and straightforward to integrate new cryptocurrencies into its growing network of over 1,000 participating businesses and 500,000 tech-savvy consumers.
“The integration of Bitcoin Cash is a logical and exciting step for LivenPay, given that their popular and current business model is going fully global in 2019. With the support of Bitcoin Cash, LivenPay will soon create a perfect entry-point for hundreds of thousands of people into the wider blockchain and digital currency ecosystem,” said enthused cryptocurrency legend and Bitcoin.com Executive Chairman Roger Ver, who is also LivenPay’s official advisor.
Liven users will soon be able to pay for their meals with Bitcoin Cash through the Liven app.
The team soon hopes that paying with LivenPay will just be as ubiquitous around the world as taking an Uber, whether you are in Shanghai or St. Petersburg, as Wong’s take-away comment surmises:
“LivenPay enables people to grab a bite wherever in the world their feet may fall, whether it is a celebratory meal out or a burger joint for lunch. It also allows for the mass adoption of crypto from fiat, whether that be from Chinese Renminbis or Russian Rubles.”