Locus Chain Foundation launches 4th generation blockchain technology in Dubai

A secure transaction – end-to-end – can now be concluded in under two seconds irrespective of the broadband speed

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Staff Report

Dubai – Locus Chain Foundation, a Singapore-headquartered organisation, on April 29 announced the launch of the fourth generation of blockchain technology. In a global first, this fourth generation blockchain platform will enable a transaction using blockchain technology in the shortest time ever. A secure transaction – end-to-end – can be concluded in under two seconds irrespective of the broadband speed.

The Locus Chain Foundation is an entity led by Sang Yoon Lee, the legendary 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.

The Foundation ensures secure inter-operability for consumers, businesses and industries by delivering a fourth generation blockchain technology-based platform, a bridging specification, an implementation and a certification program. This allows people and devices to communicate regardless of form factor, operating system, service provider, transport technology or ecosystem.

As part of that shift, 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. The given technology will be paired with a staff, who will provide specialized services to help ensure the sustainability of services and programs beyond the term of the grant.

Commenting on launch of this initiative, Sang Yoon Lee, President and CEO of 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 block-chain technology, which seemed to be far away from the real world, to real life and develop it as a technology that anyone can use. The Locus Chain Foundation team forms a unique blend of technology, finance, business and humanitarian talent.”

Locus Chain Foundation announced the setting up of a funding mechanism, aimed at supporting deserving people in developing countries. The mechanism will use the fourth generation blockchain technology to ensure the beneficiaries receive the funds directly in the form of crypto assets. This is for the first time that blockchain technology is being used for such a cause.

The Foundation, which has already raised a significant amount, has signed partnerships with several organizations from around the world. The Locus Chain Foundation along with its partners will implement the funding mechanism to help the causes.

The Foundation hopes to be at the forefront of identifying innovative ideas, people, services and programmes that raise consciousness, community leadership and capital to break the cycles of poverty, violence and inequality that have so long plagued in ‘third-world’ nations.

Keun Young Kim, Founder at Locus Chain, said, “Very few foundations are willing to take a risk as the initial funder. They want a safe bet. But Locus Chain Foundation believes that the given technology elevates awareness of these emerging leaders and its services and programmes, it will spur others to provide additional support, creating a ripple effects in the community based on the clearance.”

“We believe that our secure and reliable technology with 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.

“Our goal is to achieve the highest level of security while delivering the fastest transaction. This will be a unique technology for all Blockchain businesses including cryptocurrency. The foundations of the block chain technology are network security and engine technology. Our experts in these areas have done extensive research over the past 20 years to develop this technology, which is dubbed the fourth industrial revolution,” Lee further said.

According to him, the blockchain technology has been emerging for over a decade. “But it has been just over a year since it attracted the attention and enthusiasm of investors from around the world. We already combined the block engine technology with the game engine 10 years ago and realized that this technology will be the core of the fourth industrial revolution. What we present now is the most advanced and complete block chain platform.”

Lee predicts that the locus chain will be the mainstay of the real economy. “Locus chain is being applied to businesses such as global corporations and global new city development for practical application in various fields. This is because locus chain is empowered with higher security, faster speed, excellent scalability and value as real money.”

“We offer a true ‘next-generation base platform’ that can be used for B2B, B2C, C2C machines to machine (M2M) transaction and certification systems for telecommunications,” he concluded. -abdulbasit@theuaenews.com