How Cryptocurrency Begun and Its Impact To Financial Transactions

Cryptocurrency Lumiere in the ecosystem of Cinemadrom For the ecosystem Cinemadrom, the cryptocurrency Lumiere was created, on its own blockchain.

Lumiere is designed to solve many problems!

  • Payment means for payment of services, such as subscription to an online cinema, payment for advertising services by advertisers, payment for goods and services between users of Cinemadrom.
  • Means of reward, bonuses, prizes, loyalty programs.
  • Means of accruals and payments of income on the platform.
  • Means of reward for miners and viewers involved in mining when watching video content.
  • Means of payment, fees to filmmakers in the production of film projects.
  • Means of payments for fast and free cross-border money transfers.
  • Trading tool for operations on cryptocurrency exchanges.
  • The main part of the smart contracts in film production.
  • The tool of a financial instrument in the formation and expenditure of the budget for film production.
  • Means for insurance of investors (co-producers), while financing by the investors of cinema projects.
  • Means for the accrual and payment of commissions in the online film market, streaming service or partner movie theaters, and other film projects.
For the ecosystem Cinemadrom, the cryptocurrency Lumiere was created, on its own blockchain.The main goal of developing your own blockchain is problems in the work of already existing algorithms: Significant delays in translations , Large transfer fees, Vulnerability to hacker attacks, Low scalability , Manipulations with the market value of coins, etc.

The development of its own blockchain is planned in the period of preliminary prokensale:

It will be a hybrid mixture of public and private blockchain.
All realized tokens will be exchanged for a new crypto coin and then burned.
The newly created crypto coin will be referred to as LUMIERE and its smaller share is LUMI.

Even though cryptocurrency wasn’t readily accepted generally, it gradually developed its momentum and presently, several other business establishments even allow it as a method of exchange or payment. This is also happening gradually to new cryptocurrencies.

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