With the development of various virtual currencies, more and more users have started using the same. Hence for the operators also, it has become important to get listed on the exchange to have ease of transfer of currency from one user to another one. Singapore based Limestone Network is gearing up to list its native token. It will be listed on Bitrue Crypto Exchange shortly according to reports coming from the company. The company is well known for developing blockchain-based smart city projects, and it is now working on a similar project in the capital of Cambodia. One more feature is now being added to the profile of the company with this step.
LIMEX token listing on Bitrue Crypto Exchange
According to executives of Limestone Network, its native crypto token LIMEX will be listed on the Bitrue cryptocurrency exchange. It will be beneficial in integrating various financial applications along with parking management systems, local transport, payments, retail malls, F&B and entertainment of the entire city into an urban ecosystem that can be managed intelligently.
Current project in Cambodia
The company’s current project is being developed in Cambodian city Phnom Penh. The blockchain-based technology will be applied in the development of this smart city, and data will be collected from the residents regularly. The company plans to obtain all the data without interrupting the daily activities of the consumers.
Privacy concerns of consumers
While this will be beneficial for the consumers in the long run, it will involve the collection of large amounts of data on their everyday activities, which has raised some concerns. However, this is done to understand the power and water consumption behavior and traffic movement of the public in general. This will give the company a complete idea about how to manage the future traffic system and essential services in a better way. The company will collect data from telecom companies, transport companies, and financial institutions to build a smart city.
Permission-based network from Limestone
Unlike other blockchain projects, Limestone plans to use a permission-based network that will give importance to the privacy of the consumers. It will ask their permission before collecting any sort of data. The service providers will be able to get the identity of the customer through smart contracts, and this can lead to significant cost savings for them. This works well for everyone involved in the process, as even consumers will be getting the services at a reduced price.