Are you trading Limex ? ?
What does that mean? Well, this post is going to be all about Limex and the entity behind it: The Limestone Network.
So what is the Limestone Network? If you check out their website you will run across this sentence:
Going Through the expertise of the team and their network in the industry, Limestone Technology aims to build a smart-city ecosystem for real estate developments and infrastructure across South East Asia
This will be accomplished through the digitalisation of the city via the development of a blockchain infrastructure
The Limestone Network has the Digital Asset Limex, which is going for trade tomorrow for the very first time and Bitrue has the honour being the first Crypto Exchange doing so .....
If you want to know more about a project, you need to go to the source, so let's ......... ask Limestone ! ! !
I reached out to Sean Lim Head of Business talking about my ideas and he was in for an interview.
Please meet Sean:
XRPTwin:
Can you introduce yourself?
Sean Lim:
Hi XRPTwin, Ferdi, it’s my pleasure to be connected with you.
I’m Sean and prior to joining the Limestone Network team as the Head of Business, I was an equities dealer for 5.5 years. As someone who likes to learn about what’s up and coming and could potentially reinvent how things work, I thought the blockchain and crypto space was something to be curious about!
Oh did I mention I like to listen to 1980s music, Bananarama!
(XRPTwin: In that case Sean, you liking the '80's, you need to read these posts:
THE ULTIMATE 1980s FILM: Part 1 – Thrillers
THE ULTIMATE 1980s FILM: Part 2 – Teen
These posts were made by John, he also loves the 80's, but I tell you:
Bananarama ...... I like them, This may not be the best song asking everybody, but THIS is my favourite ! ! !
https://www.youtube.com/watch?v=prGhk_Gvzwo
Source
That is a good start, ice breakers make it easier, so Sean tell me:
XRPTwin:
Can you say something about the limestone project, when did you get the idea, how long was the preparation.
Sean Lim:
The idea was first conceived three years ago by tech entrepreneur Eddie Lee (Co-Founder and CEO of Limestone Network) and his real estate developer friend. It’s known that they are huge fans of blockchain technology and were interested in exploring the opportunities for this new-age tech. Also, as their real estate portfolio increased, the pair started asking themselves how they could leverage on technology to better manage and bring more efficiency for their tenants and visitors. Hence, they decided to take on the challenge of implementing blockchain technology for an entire city.
To build a smart and efficient city, the city first needs to be understood. It starts by having a digital ecosystem that allows real time analysis of living and moving data. Micro touch points from daily activities such as spending habits, movements, energy consumption are translated into digital fingerprints and mapped on the Limestone blockchain network. The end result is a greener, smarter city with enhanced security and an urban civilisation that promotes financial inclusion through the development of digital persona of the residents , automotive and data movements.
At first glance, some might feel that the sheer scale of the project seems to be ambitious and intimidating. However, if we break it down and take it step by step, it’s actually a manageable and feasible undertaking.
XRPTwin:
Can you share something about the team?
Sean Lim:
The team’s young (at heart) and energetic! We work very cohesively and share one another’s workload at times. I think a reason why we work so well together is because we all have the same visions and goals for the project and would like to see it come to fruition. We start strong and end strong together! Cliché as it sounds but the saying “If you want to go fast, go alone; if you want to go far, go together” really holds true here.
(XRPTwin: Well let's do a little better, I met a couple team members during an AMA, I will tell more about later, so I will also share some info:
Eddie Lee:
I am more of a technology background turn tech entrepreneur; been freelancing since 18 years old (1998). Then officially registered it as a technology company/agency in 2004 and eventually sold off his company in 2014. Then went on to co-found a peer to peer lending platform (fintech), matched more than USD $2 billion to small medium businesses as a group across asia, licensed by the central bank and exited in 2019.
Cherlin Ong:
This is Cherlin, I’m the Head of Operations for the Limestone team. I started my executive journey, managing projects for a fast-paced technology company in 2011 with Eddie, then later took on the operations role. Before joining Limestone, I worked with the 2 startups (events management/ social enterprise), so that makes up to 10 years of corporate work experience. Always enjoy learning new things and the challenge to work in fast-paced environments.
Ryan Manalastas (Ryan M):
Hi everyone!, I’ve worked as a Software Engineer for a Singapore’s P2P lending platform. I held the position of Software Director for a design and software development agency where I refined my expertise in developing ERP softwares and led the development team with confidence and clear directions. Now with more than 10 years of experience I’m glad to be part of this exciting project of building the future for smart cities.
XRPTwin:
The 29th you are going live with Bitrue, can you say something about this step/ relationship? How did this start?
Sean Lim:
We have known Bitrue for, say approximately 2 years now. We had a first introduction with them through a mutual connection in mid-2018 although there was not much going on besides dropping in to update them of our progress from time to time as the Limestone team was busy working on the smart-city project. Closer to the end of 2019, Limestone saw that in terms of market timing, it was a good opportunity for token listing. We floated this idea with Bitrue and they concurred, kicking off our working relationship. Bitrue has a set of stringent criteria for the projects they list. Thankfully, they felt that the Limestone project was promising and will be a good addition to the exchange.
It feels really surreal that finally, we are here today commencing on our listing and we definitely appreciate this relationship with Bitrue.
XRPTwin:
2020 did not have the greatest start a year can have, Covid-19 I am talking about ..... has this influenced your roadmap and what can we expect from you guys for the remainder of 2020?
Sean Lim:
The pandemic has brought to the fore the importance of digitalisation such that adaptation and receptiveness of digitalisation has increased . We have definitely gotten more enquiries about smart solutions and new opportunities have been opened up to us.
I would say for roadmap wise, we are still laser focused on delivering the prototype smart-city in Cambodia so not much has changed on that front.
It could be exciting to note that there’s a string of line-ups to roll out use cases with our early implementation partners, so keep a lookout for them!
XRPTwin:
Can you finish the following sentence 2020 is going to be a successful year if ......
Sean Lim:
There’s a fair bit more of people knowing about the Limestone Network project and what it hopes to achieve!
This was a short interview we conducted last week, and thanks Sean, for taking the time. It is absolutely an interesting project which I want to stay close to and want to learn more about; which of course I will share in a future blog.
That said, yesterday we had a great AMA via Bitrue where we were introduced to many team members (mentioned above) and where some easy/ difficult questions were tackled. I was really impressed no questions were dodged, all were answered and the people that were present at the AMA were captured by the words shared by the team. I will list some of the questions here, in order to give the reader of this blog some more insights of the project.
The AMA was hosted by Adam, who did a superb job, did not make it easy for the Limework team and gave them some fire ! ! !
Bitrue:
Do you have any partnerships which will help drive adoption?
LimeStone:
I will break this question into 3 parts,
1.
The most important partnership will be with our real estate developer, whom we are working with to roll out the technology for the residents.
2.
The more recent partnership that we secured just before the pandemic is with the industrial park where the agreement allows us to rope in their tenants into the programme to form the eventual smart city initiative.
3.
Not forgetting PundiX, a point of sales (POS) machine that accepts crypto currencies. We would envision that all merchants in the city would be equipped with one of the device and they will be able to accept our tokens. The circulation of LIMEX will then become active on a day to day basis.
The point of sales system is also currently deployed in our partnering hotel.
YES PEOPLE YOU READ IT RIGHT ! ! ! PUNDIX is a PARTNER ! ! !
Source
Proof is in the picture .....
Source
So that sums up the 3 parts of the current partnership
A. Real Estate Partnership
B. Industrial Park Partnership
C. Technology Partnership with PundiX
Bitrue:
Do you have any deadlines or key timings for implementations of your project ? ? ?
LimeStone:
For the real estate development, we are looking at a completion in 2022.
Photos of the Development:
Source
Source
Source
The following picture was shared yesterday for the first time, this is an overview of the project:
Source
Bitrue:
What advantages does LIMEX have compared to other tokens trying to do similar things?
LimeStone:
We are a little different as compared to other projects because quite often other projects have a solution and then try to solve a problem while Limestone was the opposite, we had a use case first
XRPTwin: Very political correct answer, I like that :–)
Bitrue:
Investors, community members, and developers all play a major role in the success of a coin. What is Limestone's strategy to get them involved?
LimeStone:
Interoperability is important as mentioned above. Where we foresee many other good projects surfacing into the scene and we will invite them to deploy their projects in the smart cities. Their tokens will be interchangeable with LIMEX through our LIME Exchange before being accepted by our merchants.
With constant and natural demand from the ecosystem, we also hope for a healthy supply / demand for those who have invested or purchased LIMEX ! ! !
Bitrue:
Investors, community members, and developers all play a major role in the success of a coin. What is Limestone's strategy to get them involved?
(XRPTwin: love this question, sharp and well, let's look at the future)
LimeStone:
Eddie Lee, [27 Jul 2020 at 11:45:39]:
There is a long answer to this seemingly simple question. I am aware of the time we have...
This is similar to our Interoperability.
We foresee that with time, blockchain will only get more widely adopted and every company will likely be issuing their own token or they have the liberty to do so. And it is also likely there will be many other currencies floating in the city.
We see Limestone Network as a platform where innovative blockchain companies rollout their solutions. So we ask ourselves, what if blockchain company A’s token can also be used in our city? Wouldn’t that make it a more useful and vibrant ecosystem?
So the short answer is YES. But the next question is... how?
We like to introduce our partner, PundiX. We established our exclusive partnership (for Cambodia) in 2018. If you not familiar with them yet, do visit, PundiX.com. They are basically a point of sales system, that accepts digital assets, such as BTC, ETH as well as LIMEX.
All tenants in our smart city will be equipped with the POS machine to accept LIMEX.
Now to convert the different companies' tokens into LIMEX before they could spend it. And this will be achieved via our LIME Exchange (www.lime.exchange) where they could then swap their token into LIMEX and they will be able to spend it in our cities, F&B, entertainments, Clinics, hotels and merchants who are operating within the smart city.
So if the above is too long to read,
the short answer is yes, other currencies will also be accepted in the smart city but with LIMEX being the primary token (with the exchange/swapping) happening in the background....
MUCH BETTER ! ! !
Bitrue:
LIMEX will be processing a lot of data, how do you deal with data privacy regulations?
LimeStone:
Yes, data is one of the key element for Limestone Network. And we all know that they are fragmented and disorganized in most countries or cities, especially so when they are developing. Even for Limestone Network, we have to start somewhere. Luckily we are a smaller setup vs a country where its easier to manage.
So to start, residents who are working in the city have to be onboarded and this is done via the smart city app. We will also screen everyone who registers themselves. Real Time global database scanning is also deployed in these instances.
We also partners with merchants, corporates, banks such that they can reach out to the residents directly – if they are blockchain, they could reward their users, airdrops to them directly, skipping the marketing agencies. The savings can be given directly to the intended audiences
Additionally, Limestone is General Data Protection Regulation (GDPR) and Personal Data Protection Act 2012 (PDPA) ready. Despite the good intentions for the merchants, all data belongs to the user and they choose who they want to share their data with. If the particular brand resonates with the user and they wish to be on-boarded on their program, they will give permission to the corporate in exchange for the airdrop or promotional reward.
Bitrue:
Your Whitepaper mentions that 60% of LIMEX is retained by the team. Do you plan to burn any of these tokens, or offer them in a secondary sale ? ? ?
LimeStone:
The tokens kept in foundation is meant to cater for the smart city ecosystem. From the smart industry park alone, i think we might be maxing out the current circulation. So when the smart city begins, we are likely to draw the token supply from the foundation. With other developers expressing interests, we are unlikely to burn the token but to release it for the respective projects when the time comes.
So this completed the official questions of the AMA, open hearted and truthful. Let's see where this project is heading for.
So important message here
Tomorrow July 29th, Limex will be tradeable on Bitrue, so if you want to be part of the first retail investor group, get yourself an account if you do not have one yet, you may use the following link
but do not have to:
[](https://www.bitrue.com/activity/task/task-landing?inviteCode=EZWQWA)
[](https://www.bitrue.com/activity/task/task-landing?inviteCode=EZWQWA)
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