LYNKED WORLD - Lynking World Through Blockchain

- September 20, 2018

Good day everyone , i would be writing about the LYNKED WORLD PLATFORM like i did the last time,click on this link in order to have an overview of it https://steemit.com/blockchain/@adelekejustin01/introduction-to-lynked-world-lykning-world-through-blockchain . Today i would be writing further on the following;
A) LYKNED WORLD TOKEN
B)DISTRIBUTION OF TOKENS

LYNKED WORLD TOKEN
The Lynked.World ecosystem intends to grow as a closely-knit community of digital profiles built on the blockchain platform, with authenticated identities and data facilitating the reliability on profiles, content, credentials and data shared in the platform, and in turn open avenues for various kinds of services and utilities being offered over the platform. The platform also welcomes the world outside the Lynked.World environment, by being accessible for third party applications to be hosted on it, enjoying the benefits of the unique combination of data storage and data validation, as offered by the platform. All interactions on the Lynked.World platform are viewed in terms of services either being provided by one entity to another or services being availed of by one entity from another.
This to-and-fro transaction of services on the platform, also necessitates the concept of having the transfer of certain “Value” for the service being provided and availed over the platform. Their incentive mechanism for such storage and transfer of “Value” in the context of services will be handled using the “LYNK” token which serves as the first asset class in their ecosystem.

“LYNK” Token
The “LYNK” token is an ERC-20 standard token built on the Ethereum platform. It is fractionally divisible, transferable and fungible. LYNK tokens will also be tradeable on cryptocurrency exchanges in due course of time.
“LYNK” tokens will be used for transfer of “value” for any services offered and availed of over the Lynked.World application platform. They act as the medium of compensation for the transfer of “value” between the participants in the ecosystem for performing various transactions, for example, related to the identification and validation of user data and so on. The token balances and transfers will be tracked by Lynked.World. In the case of any untoward, unforeseen and undesirable incident, such as token theft, contract compromise, or a disrupting change of Ethereum protocol,
Lynked.World may opt to freeze token transfers and issue a new token contract with balances replacing that of the original token registry by certain date. In the case of an Ethereum fork, Lynked.World will properly announce which branch it will support.

“LYNK” Token Usage
“LYNK” tokens will be used as:

A medium of exchange of value for services rendered over the Lynked.World platform
A medium of incentivising participants in the Lynked.World platform for staking (holding)
LYNK tokens
Below are some examples on where “LYNK” tokens will be used in our platform. These examples
are by no means an exhaustive list and nor do they elaborate details on each and every use case.
However, they should provide a good idea of the token based economy and how the tokens will
be used:
For transfer of value when availing services for identity verifications
For transfer of value when availing services for document/certificate verifications and/or
endorsements
For hosting services (like applications, registration forms etc.) either within the platform or
on external platforms using Lynked.World API’s
For verification of the authenticity of identity and digital documents received within the
platform using our verification services
For KYC services
For rewarding users participating in community activities
For posting jobs on the Lynked.World Job Portal
For payment of fee to Lynked.World for using services features such as digital ID cards,
attendance registrations etc.