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Below is our recent interview with Luke Chittock, Managing Director at LIFElabs.io:
Q: Could you provide our readers with a brief introduction to LIFE?
A: In 2016 a group of forward thinking individuals founded a token based reward system designed to be accessible for everyone. The token will also be used for transactional purposes and was launched in 2017. Our reward system is based upon the world’s most widely adopted blockchain technology (Ethereum). Essentially it is a cryptocurrency; incredibly secure, traceable via the blockchain with a transparent value and accessible to people from all walks of life. We aim to make it totally inclusive by providing an educational platform to supplement our technology, a LIFEwallet for storing the token within an app and LIFEcard to spend your rewards.
Q: How have you found starting a cryptocurrency and trying to take your company global?
A: Exciting, inspiring, educational and empowering. Startups are always challenging but we are unique in that we are a fully funded FinTech with the right mix of people and determination and we are making excellent progress. The LIFE team is growing and evolving every day to meet the demands of SME and SMB adopter profiles, which is exactly the global positioning LIFE requires. To achieve our aims and be the cryptocurrency of choice for everyone, this will not ‘just happen’ overnight – our roadmap and adopter pipeline extends to 2019.
Q: How does LIFE differentiate itself from its competitors (if there are any)?
A: LIFE intends on a global reach marketing campaign, bringing LIFE to the masses which no-one else has done, in the ‘cryptosphere’, as yet. LIFE will also be unique in that it is a digital currency with a ‘giving back element’ as we believe in supporting charities and social good causes worldwide. This is an integral element and foundation of LIFE with a significant part of the total supply ringfenced for global causes. We are also self-regulating in a space that is quite elusive for regulation and best practice. We pride ourselves on our heritage of having not done an ICO and have maintained our message and brand since 2016.
Q: How have you grown LIFE presence in the market?
A: We are planning a roll-out of products such as LIFEcard, LIFEwallet and an ‘app’ to make all of the products work well in a confusing space for the consumer. LIFE has been growing organically through our community and on the exchanges; HitBTC, Coinexchange, Tidex, Etherdelta and more to come. We have a community of over 5,000 adopters worldwide who help to frame our vision and ethos and direction.
Q: How is your team structured? What benefits do you believe that brings?
A: Our growing team is organised in such a way that allows free thinking from the co-founders but progressive product development by a technical team working behind the scenes. My role as the newly appointed Managing Director, will be to manage the company with the co-founders providing support and insight into everyday operations such as creating new partnerships and sponsorship and PR events.
Q: What’s next for LIFE? Do you have plans to grow, expand or diversify?
A: LIFE will continue to grow and be adopted for more and more transactions daily, rewarding the user and in turn passing on to charitable causes. In turn the LIFE community benefits by the fundamentals of supply and demand from the circulating supply of tokens. Naturally, as demand increases and supply is carefully managed the token becomes an alternative means of storing wealth. The natural adoption of LIFE across the globe will mean expansion! We are already in talks with adopters worldwide who believe in LIFE and what we are trying to achieve, a new digital currency for everyday people….simple!
One of the main reasons for LIFE is to make a positive impact to mankind across the globe, supporting community projects, humanitarian charities to improve well-being, sustainability, education and welfare. There are many stand-alone social good enterprises, some set up as charities, others as not-for-profit, we will form a common thread to all causes by enabling them to use LIFE.