LEOCoin Launches As ‘Second Largest’ Digital Currency, But Not Without Controversy
U.K.-based Learning Enterprises Organization (LEO) launched
a digital currency last week that the company claims already has 100,000 users,
making it the second most widely used cryptocurrency after bitcoin. The
currency is traded on its own Hong Kong-based exchange and recognized on other
exchanges as well.
LEO, which provides learning services to businesses,
including yoga sessions for company executives, according to bobsguide, said
that it promoted the digital currency to its existing clients prior to launch.
As a result, the company says the digital currency was already actively being
used by 100,000 entrepreneurs, with around 30,000 merchants already signed up,
giving it claim to the title of “second largest digital currency.”
Some in digital currency media questioned those numbers, in
particular the digital currency news site CoinBuzz, which also suggested that
the founders of LEOCoin, Dan Anderson and Atif Kamran, may have been linked to
an organization in Pakistan
called UNAICO that could have been involved in a pyramid scheme.
In an article that ran on CNBC, a spokesperson for LEO
refuted reports that Anderson and Kamran were involved in a pyramid scheme,
noting that the pair left UNAICO due to a disagreement about the direction of
the business and were discharged of all liabilities related to investigations
of the company.
LEO also revealed to CNBC examples of some customers using
LEOCoin to counter charges that it was inflating the size of its user base. The
users were smaller companies, some of which were in emerging economies,
including Capital Motors of Pakistan, and Profitus Skupina of Slovenia .
Other examples included a German energy efficiency firm
called Transformer and British companies Happy Horse World and Strel Swimming.
A representative of Strel Swimming told CNBC it has seen about 10 or 15 transactions
with the currency so far.
To promote usability of LEOCoin, wallets have been launched
for different operating systems including Windows 32 bit, Windows 64 bit, Mac
OS and Linux. Users interested in LEOCoin can buy it, mine it on a computer, join
a mining pool or trade it. There is also a merchant program for merchants
willing to access the global marketplace for the currency, according to NewsBTC.
Let’s Be The Part Of Largest CryptoCurrency
