Interview With Light Pay Coin Project CEO Damon Bryant
LPC (Light Pay Coin) blockchain project has been listed on our website for some time now and we are following with big interest in their development. Today we are glad to present – interview with the project’s CEO Damon Bryant.
(CS) Your project description in two sentences.
Light Pay Coin is a financial payment network built, used, and owned by people. We are building the next generation of automatic teller machines (ATMs), wallets, and point of sale (POS) devices while helping to increase both education and mass adoption.
(CS) Your short story – how did you come up with the idea of this project?
We are a group of developers, traders, and crypto-enthusiasts who were tired of seeing projects that didn’t fit our definition of having a real-world use case while also being practical. We wanted to change that by building a payment infrastructure that was not centralized in any way (like with centralized ICOs and mining companies beginning to centralize hashing power in large POW-based projects like Bitcoin). Moreover, we wanted an infrastructure that was energy efficient and sustainable for the long-term. We wanted to build a project that helps the entire industry by increasing education and making technology more accessible and easy to use.
(CS) What is the goal of your project?
One of our primary goals is to increase mass adoption of digital assets by providing easy to use financial technology infrastructure.
(CS) What is the most unique thing about your project if you compare with similar projects around?
I think our most unique competitive advantage is having a set of traditional and non-traditional partners who complement us in such a way that it is hard to compete with LightPayCoin in a comprehensive way in the long-term.
(CS) There are many blockchain projects that claim to have in near future crypto payment systems (phone, cards) – what is the main difference between other projects and yours?
In terms of education and research & development (R&D), we have a multi-year relationship with one of the largest R&D universities in the United States, the University of Central Florida. (UCF, https://today.ucf.edu/the-future-of-cryptocurrency/). They are helping us in bringing diverse approaches to solve some of the challenges facing in the cryptocurrency industry (e.g., user interfaces and business models). In return, we are also helping them to build their master’s degree program in financial technology, one of the first programs in the United States (https://today.ucf.edu/fairwinds-pledges-1-1-million-for-endowed-professorship/) with Drs. Honghui Chen, Ajai Singh and Venugopal Buvaneshwaran. This type of relationship facilitates both education, research, and development of the Light Pay Coin infrastructure. As our manufacturing partners or merchants recommend or want to make enhancements to hardware, software, or even business models, there is a place where we can quickly initiate programs of R&D to support our network within a talent-rich environment.
The exclusive manufacturer of our ATMs and POS devices is Coin Logiq located in South America (https://www.coinlogiq.com), founded by Dwayne Golden, Sr. They are innovators in their own right with next-generation ATMs. They are one of the leading companies in all of South America and have a very strong team in place. We mutually benefit from having LightPayCoin as a preferred coin on our ATMs. Moreover, our worldwide masternode network (11th largest in the world based on https://masternode.online statistics) gives helps CoinLogiq access various markets outside of the Americas. Lastly, we have a content technology partner in Lumina Datamatics that primarily operates within the publishing industry, which was disrupted during the boom of the Internet. Some of the leadership at Lumina have wisdom and foresight to see the benefits of this technology in their industry. These are just a few of our partners that help to build out and utilize the LightPayCoin infrastructure.
(CS) Do you have a working payment network already or if not – when is planned to start it?
Yes, the ATMs and POS devices are ready to order now and can be purchased at https://www.coinlogiq.com. This is the first iteration of our infrastructure. Individuals, corporations, and government institutions can purchase the ATMs or POS devices and begin to use our currency for payments. For example within government, Ohio is one of the first states in the United States to accept cryptocurrency for tax purposes (https://www.coindesk.com/ohio-becomes-first-us-state-to-allow-taxes-to-be-paid-in-bitcoin). In the Florida, USA (near our R&D partner, UCF), Seminole County is the first county to accept cryptocurrencies for tax purposes and government services (https://cointelegraph.com/news/us-seminole-county-florida-to-accept-crypto-for-tax-payment ). We believe that this trend will continue and these local or state governments can purchase our ATMs/POS devices and become a part of Light Pay Coin network.
(CS) Main features and benefits of your project in a few bullet points
For ATMs, we have the following:
(a) Video-based customer service representative available to help customers.
(b) KYC/AML compliant machines to scan identification and other documents
(c) Paper wallet generator for those who don’t have LightPayCoin wallets or other supported currencies, like Binance Coin, BNB.
(d) Ability to buy supported cryptocurrencies with local fiat currency, sell supported currencies for local fiat currency, and exchange any supported currency or another on our machines.
(CS) Why do you think that your project will succeed and will be a winner in a competition with other projects?
First, I think we have had great community support from the beginning and they will be here as we progress. They are both our biggest fans and biggest critics; this helps us to improve every day. Second, we have a great set of partners who have made commitments for the long-term to help us innovate and improve to gain market share. These partners are making LPC an important part of their respective organizations in education (UCF), manufacturing (CoinLogiq), publishing (Lumina Datamatics), and digital asset management and exchange (YourEx, https://yourex.io). Third, we have a small and growing team that works really hard to make Light Pay Coin what it is today. By focusing on education, we will increase awareness. With partners in manufacturing and distribution, we can create and consistently improve the products and services provided to individuals, businesses, and governments. With our community pushing us, we get better and better each day. We are not perfect by means; we fall, get up, brush it off, and keep it moving. That’s the way it should be!
(CS) What is a guarantee of the stability of your project? If someone wants to invest and buy Light Pay Coin – how to assure that your project will be around in long run?
Notwithstanding some black swan event that totally dissolves the entire crypto-currency space, we expect to be here for the long-term. Once again, we have created a project that (a) has a real-world use case, (b) has multiple multi-year relationships with both crypto and non-crypto related organizations, and (c) has a small and growing global footprint.
(CS) How did you team up with the members of your project team? Tell us your story.
We all met virtually while trading in the masternode space during the start of the bear market of 2018. Some of us were victims of lots of scam coin projects and wanted to build a project that we all wanted to invest. The response to one of your first questions picks up on the details of what we wanted to see in a project.
(CS) What future perspective of your project you see in 5 years, where will be your project?
We see our physical network of decentralized ATM exchanges growing into the thousands across the world with heavy market penetration in the Americas (North and South) and countries in Africa (e.g., South Africa, Nigeria and Ghana) with an increasing presence in Asia-Pacific. In regard to our POS devices, we are targeting 10,000 – 20,000 POS devices in use across the globe. We see an increase in both education and adoption by people in countries who may be experiencing issues with their sovereign currency. We will aggressively target those areas to provide an alternative financial payment network that is built, owned, and used by the people.
(CS) How to start to invest in your coins?
We are available on both centralized and decentralized exchanges:
(1) Exrates
(2) Cryptopia
(3) CryptoBridge
(4) CoinExchange
(5) STEX
(6) Escodex
(7) SouthXchange
(8) Crex24
(9) Aiodex
(10) Exchange Assets
(11) FinexBox
(CS) Where to get to know current news and trustable information about your project?
We have a weekly live stream every Wednesday at 10 am Central on our LightPayCoin Americas Youtube Channel.
On the live stream, viewers can ask uncensored questions about the progress of the project, team, upcoming activities, or general questions about the cryptocurrency market that may impact the community. We have a very active Discord Channel where the community can interact with the team as well and get up-to-date information.
(CS) – CryptoShib
6th of December 2018
