Platform is put up by the largo foundation which is an entity on its own, not under any company, with its affiliation with the blockchain to make the best of it. It provides some advantage with the LRG coin which is supply in limited quantity to the platform for the participants to have it in circulation in quantity that is just enough to end inflation as the coin is used. The users will be made to engage more in the use of LRG for the sake of the liquidity and to make it of more meaningful value in the ecosystem as the demand rises.
LargoCoin users will be adopting a new Investments system that is capable of providing all blockchain services and also improving the transactions of investors in it. It will be an opportunity for startups to grow while using new products provided by Largo in addition to the sure means of insuring the funds of the investors. Businesses will find this platform useful to make them visible in the global world of Investments and to make investors safe as they invest in them with the mitigation of risk that it provides.
GOAL OF LARGO
The foundation has made this platform to make all the components of the blockchain as used together with crypto assets available to many, releasing the open-source code and other tools for users. Among those tools is the wallet, compactible for all kinds of assets, compactible and useful for traders to quickly develop their trades and adapt to the blockchain operations, especially the ones that includes the use of funds. This platform was first developed as the test-net sometimes last year but now, it has already launched the main net with which users can be engaged, meaning that blocks can now be created and the ICO is also available for as many who are interested in it.
LARGO COIN AND INSURANCE PRACTICE
Insurance was born out of the need to eliminate or reduce the loss suffered by an individual or organization, to this end the insurance firm compensates the insured when a loss is suffered. The goal of insurance is to bring the insured to the state that he was before the loss was suffered, in order words the compensation is for only the loss suffered and the insured is not expected to profit from the insurance scheme. The insured pays a premium which in most cases is a percentage of the amount of the insurable interest (asset).
The largo team believes in the possibilities of blockchain technology to revamp and remodel the insurance practice for greater efficiency. This could be brought to life with the inclusion of better technology and know-how which the project has built into the largo platform.
The largo insurance model shares a similar structure or procedure with the conventional insurance procedure both in the compensation of the insured and the premium which is expected to be paid by the insured. The example below depicts the procedure of the largo insurance model
• Two parties wish to transact or exchange goods/services
• There is no trust between the two parties
• Both parties are willing to complete the process in a short amount of time and with minimal costs, but without sacrificing the security and convenience
• The buyer can insure his purchase using Largo Platform which will cost him up to 15% of the initial cost
• After transferring the payment and the insurance cost to the Largo platform the buyer receives an equivalent of the initial cost in Largo Coins
• In case the exchange between the buyer and the seller goes normally the platform gets the tokens back
• In case there is a problem the buyer’s insurance deposit gets unlocked and he can sell it on an exchange to compensate for the initial cost.
Largo Coin functions as a useful tool in escrow services, bringing all traders together and making all types of big and small volumes of any coin available for the transactions.This is what makes investors protected from the risks associated with investment like losing their funds without any warranty involved. There are laid down rules for investors spending of funds or withdrawal as long as they are tied to a company as a partner. The keeping of these rules would be the job Largo to ensure.
WEBSITE — https://web.largocoin.io
ANN THREAD — https://bitcointalk.org/index.php?topic=5200762
TWITTER — https://twitter.com/largocoin
FACEBOOK — https://www.facebook.com/LargoCoinPublic
MEDIUM — https://medium.com/@largocoin
REDDIT — https://www.reddit.com/r/largocoin/
TELEGRAM — https://t.me/largocoin_chat
BTT USERNAME … sohailkhan
BTT PROFILE LINK … https://bitcointalk.org/index.php?action=profile;u=2334734
WALLET ADDRESS…. D9yhPBPpCzwrTZAMJv4wraQdx2s2AbM2rX
Cryptocurrency & Blockchain
A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.