Lykke strives to create a global marketplace which will grant equal access to everyone. It issues shares as Lykke coins or LKK on the blockchain. Lykke Corp is registered in Switzerland. It has subsidiaries in Cyprus, Vanuatu and London.
Lykke history can be traced back to 1985 when the CEO and founder Olsen had formed Olsen & Associates. In 1995, this company had organized the first finance conference and the following year, Olsen co-founded a spin-off of his company called the OANDA. This company introduced a successful currency converter. Richard continued to be passionate about bringing about changes in the finance world and establish a seamless marketplace.
The LKK or Lykke coin is basically a cryptographic token which shows ownership of the Lykke. This is not any currency and there is mining; so, no exchanges can accept the LKK. A hundred LKK will stand for a share of the Lykke Corp.
Almost all financial institutions may be ranked on the Lykke blockchain as colored coin tokens. The colored coins will act like digital equivalents of real assets. Holders of the colored coins can use these to sell and buy assets. The coins will be connected to the one that offers and what is interesting is that they are digital units of that real asset. So, a colored coin may be a single ounce of gold. The coin holders will show their ownership of that coin by attaching their signatures to these. In this way, Lykke has so far launched two kinds of colored coins namely for the CO2 certificates and music rights. Those owning colored coins for any music title will have rights to it and they may also earn money through it. So, the Lykke is essentially a platform for value exchanges where anything that is traded is also valued.
Colored Coin Protocol will also have a security attribute for global trade. Trading platform is based upon the Ethereum and Bitcoin blockchain. And all the platform processes are linked to Matching Engine. The blockchains will adjust trading in the colored coins to sync with the real asset market values. It is the interface between the market and wallet holder.
Lykke goes beyond a conventional securities business. It is expected that many assets will be digitalized in future. Whether it is music IP rights or real estate or project finances or community coins, users will be able to trade everything. Lykke will make money by offering issuance services, consulting and liquidity. Fees for their mobile wallet apps are zero. It relies on open source software which promotes transparency. It lets people all over the globe to contribute. So, Lykke hopes to create a marketplace for integrating the market with the current financial system seamlessly. The blockchain technology will guarantee that this platform is able to function in a decentralized way, securely and with full transparency.
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