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Quest for raw material transparency and environmental sustainability, LCMS Token listed on Bithumb Global

Guest Post

In a recent interview, the LCMS Platform CEO, Byung-Hung Lee, said the race for industries to exploit cheap labor in developing countries would see global companies crash under their weight. The blockchain, he explains, is where “all dishonesty will be disclosed.”

Traditional Industries to Blame?

Not surprising–and in the mid of what analysts describe as a climate crisis in the making due to blatant disregard of climatic and environmental efforts, the younger generation is more aware of preservation and conservation. Consequently, they are keener to know the source of raw materials and whether they are part of the web fueling exploitation or environmental degradation.

He said:

I think that traditional industries will die under their pressure. This day is not long to come. First of all, I think that many industries have become so obsessed with their own materialistic goals that they nearly forgot whom they are doing it for.

Dangers of Environmental Degradation

Scientists are worried that if there aren’t changes and goodwill, especially from the political class, global warming will continue. 

Statistics from the National Oceanic and Atmospheric Administration (NOAA) show that land and ocean temperatures have increased an average of 0.08 degrees Celsius every decade since 1880. 

While it might sound negligible to critics, a two percent change in temperature, pinned directly to the depletion of the protective ozone layer, could prove catastrophic.

Preservation efforts, therefore, start from inhabitants and companies diverging from self-serving materialistic goals for the betterment of the whole. 

That, therefore, means coming together for the common good. It starts, first, with the creation of a system for transparency to serve society.

Transparency in Raw Material Sourcing as Part of Conservation

The LCMS Platform creators are building a system aware that consumers have a right to a better life by supplying quality products. 

Their emphasis is on social value, community building, and responsibility to decrease the number of victims who succumb by consuming harmful products. At the same time—and for ease of client onboarding, the creators of the LCMS Platform also know that not everyone is tech-savvy and knows all technical jargon powering the blockchain.

Towards this end, the LCMS Platform is guided by the principles of simplicity and ease of use over the blockchain’s technical superiority. This rationale is simple. 

In their assessment, the Ethereum-based protocol views that clients are central to their business.

From the protocol, network users have control of their data. Whenever their data are used for external purposes, there is a reward.

Role of LCMS Coin and Bithumb Global Listing

The LCMS coin is part of the ecosystem comprising Communication and the Shopping Mall. Through the Shopping Mall, network users can write reviews about products. On the other hand, Communication facilitates the free-flow of data. 

Meanwhile, the LCMS coin is essential in priming their rewards system enabling the transfer of value and enabling network users and others to donate to noble causes in developing countries.

Whenever individuals or organizations want to donate, they have to purchase the LCMS coin from the foundation. If these donations are used in initiatives to serve the underprivileged or those in developing countries, an equal amount of LCMS coin is destroyed—or taken out of circulation. Donation incineration helps in supporting the value of LCMS coins, available for trading at various cryptocurrency exchanges.

As per an update on Mar 24, the LCMS coin is available for trading at Bithumb Global. The cryptocurrency exchange is one of the largest globally, recording average trading volumes of over $1.3 billion. To celebrate the listing, verified Bithumb Global traders stand a chance to participate in two ongoing events ending on Apr 6 and win part of the 20,000 USDT.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.