OWNII Coin (Li Fi Cryptocurrency) - Launch Update
A while back, we wrote an article about a Li-Fi cryptocurrency called “OWNII Coin”. Global Greenology, a privately owned global manufacturing and design company specialising in environmentally friendly, energy-efficient building solutions, developed a cryptocurrency for Li-Fi implementation.
What are cryptocurrencies?
Cryptocurrencies are virtual or digital currencies that have no centralised regulating authority. This means that money is produced and transferred without the intermediation of banks. Cryptography is used as a means of ensuring transaction security.
Bitcoin, created in 2009, was the first decentralised cryptocurrency and remains the most expensive virtual currency worldwide. Other popular cryptocurrencies include: Bitcoin Cash, Ethereum, Dash, Mixin, Litecoin, Zcash, Bitcoin SV and Monero. The cryptocurrency used in the most transactions daily was Ethereum in 2019.
The decentralised control of each cryptocurrency works through Blockchain, a public transaction database that functions as a distributed ledger. The size of Bitcoin Blockchain grows from year to year and it mounted to around 242 gigabytes as of the third quarter of 2019.
The prices of cryptocurrencies are quite unstable and strongly dependent on the market sentiment. The price of Bitcoin, for example, experienced an increase from about 371 U.S. dollars in January 2016 to a peak of over 13 thousand by December 2017. Also, market capitalisation of Bitcoin experienced a rapid growth in that time period.
What is OWNII Coin?
OWNII stands for Optical Wireless Network Internet Infrastructure. OWNII Coin is developed to oversee, develop, and design the physical infrastructure necessary to implement Li-Fi in the United States and developing nations abroad and is sold privately. The pureLiFi company has manufactures and distributes the equipment needed to stream communication through existing LED bulbs but to implement Li-Fi , installation of this equipment is necessary.
Global Greenology, creator of OWNII Coin, states that the OWNII Coin will promote the creation of a new internet infrastructure in the United States and worldwide. It will also create numerous opportunities for employment, business ownership, and entrepreneurial endeavours selling equipment and services. The multiple streams of revenue that OWNII Coin represents brings unprecedented value. Once launched, the infrastructure creates new technology, software, products and services making this coin and ecosystem very valuable.
OWNII coin and the resulting financial capital it generates allows Global Greenology the opportunity to build the OWNII Ecosystem and effectively provide the technology to reach the end user and provide opportunities for manufacturing of the Li-Fi light bulbs and connection devices. It opens a level playing field for the smaller business owner or an entrepreneurial start-up company to get involved on the ground floor of this opportunity.
OWNII creates wireless communication, that is faster, addresses issues with internet security, allows localisation due to small coverage area of Li-Fi access points used for precise asset tracking. Furthermore, providing ubiquitous high-speed wireless access that offers substantially greater data density (data rate per unit area) than RF through high bandwidth reuse.
Finally, the OWNII Coin system exploits the advantages of cryptocurrencies over fiat currencies as a medium of exchange. In particular, it does not require any single agent or institution be trusted to keep an honest ledger, provide low transactions costs, or offer increased security to customers. The technical elements and infrastructure needed to implement the OWNII Coin system is already established and ready for execution, the only real challenge is the dissemination. Global Greenology’s establishment of the OWNII Coin system has the potential to disrupt our current expensive wireless communication system.
The primary benefits of Li Fi are as follows:
• Security: Provides entirely secure access. Where there is no light there is no data.
• Safety: Does not produce electromagnetic radiation and does not interfere with existing electronic systems.
• Localisation: Allows localisation due to small coverage area of Li-Fi access point - localisation can be used for very precise asset tracking.
• Data density: Provides ubiquitous high-speed wireless access that offers substantially greater data density (data rate per unit area) than RF through high bandwidth reuse.
Launch Update
Due to the current Corona virus pandemic, the public launch is being delayed. However, Global Greenology is currently planning the launch of OWNII Coin in 2 phases. The first phase being a private sell of the token in which you can pledge to purchase your amount but will not have to pay for it until the market stabilised. The second phase will be a public purchase just before going live on the exchange. A website specifically for the OWNII coin is also being developed by Global Greenology. Li Fi Tech News will keep you updated on the progress of the OWNII Coin.
In conclusion, if you are interested to hear more information about the OWNII Coin or investing in it, you can contact through our chatbot or send an email through our contact us form. If you enjoyed this post and would like to hear more updates about Li-Fi technology, subscribe to our newsletter. Don’t forget to subscribe on our social media accounts. You can also join on our Telegram group about Li Fi technology on this link:
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