SEATTLE, September 14, 2021 / PRNewswire / – El Salvador is the first country in the world to adopt bitcoin as legal tender. Today, Joel Kasr, founder of KaJ Laboratories and Lithosphere, pledged to offer 6,000 BTC to El Salvador and nations like Panama who adopt bitcoin as legal tender.
The 10-year commitment will distribute the funds in different phases through the KaJ Labs Foundation. The Foundation has set aside five percent of $ LITHO’s total funding for social responsibility causes and this is the number one cause the foundation will support. While a handful of nations such as Ukraine, Cuba and Germany have approved legislation to govern digital assets, El Salvador is the first to accept bitcoin as legal tender.
that of El Salvador President Nayib bukele led the effort to allow cryptocurrency to be licensed as legal tender. It became law in June 2021 and marked a historic world first. It will boost investment in the country and help the 70 percent of residents who do not have access to traditional banking services. It also helps Salvadorians residing outside the country who send money to their home country, which accounts for 24 percent of that of El Salvador GDP.
The country bought 400 bitcoins worth around $ 21 million the day before cryptocurrency is adopted as legal tender. People who want to transact with cryptocurrency can sign up for the country wallet app called Chivo with a national ID.
$ LITHO was recently launched on Binance Smart Chain. The LITHO utility token is used as a gas on the Lithosphere blockchain similar to Ether on Ethereum and can be used for staking, network governance as well as other value transfer functions. $ LITHO is available for purchase via CrepeSwap and other decentralized BSC exchanges.
The Lithosphere blockchain will offer scalability and interoperability across multiple platforms supporting Byzantine Fault-Tolerant Consensus (BFT) for greater flexibility, greater accessibility, and faster transactions across multiple blockchain networks, while allowing other blockchains to retain full authority over themselves. Several methods of value transfer can be carried out under a single management structure. With Lithosphere’s deep neural networks in smart contracts, content creators will be able to generate visual art images and tokenize them as non-fungible tokens (NTFs). To improve the security of the Lithosphere network, individuals earn significant rewards by staking LITHO.
KaJ Laboratories recently announced a $ 500,000 $ LITHO Trading Contest on the PancakeSwap Decentralized Exchange ranging from September 1, 2021 at 7 UTC at September 28, 2021 To 16:00 UTC. Individuals have the opportunity to win a share of the grand prize when LITHO is officially listed on 5 CEX (centralized exchanges).
Lithosphere brings the future to life with its blockchain technology and unique approach to cryptocurrency. It is the first platform to implement Deep Learning in smart contracts via integrated deep neural networks. Among the innovative features of the platform is its inclusion and interoperability with all existing wallets, cryptocurrencies and blockchains.
The launch of Lithosphere and the promise of 6,000 bitcoins to El Salvador is an important part of the work of the KaJ Labs Foundation’s commitment to social responsibility cause. The organization also made a donation $ 5 million to Ripple’s legal defense fund against the SEC.
About the Lithosphere
Lithosphere is a next-generation platform for decentralized cross-chain applications powered by AI and Deep Learning.
On KaJ Laboratories
KaJ Laboratories is a decentralized research organization focused on artificial intelligence and blockchain technology. We are determined to create innovative products that work for the greatest good around the world.
Email: [email protected]
KaJ Labs Foundation
4730 University Way NE 104- # 175
Seattle, WA 98105
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