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Data source: CoinMarketCap
Lykke (LKK) to Philippine Peso (PHP) Conversion Table
Lykke Corp is a FinTech company based in Zurich that has launched the first global marketplace for all asset classes and instruments, using the Colored Coin protocol on blockchain. The paper explains the architecture of the exchange and first use cases. We discuss how the exchange will evolve over time. We explore the macroeconomic benefits of the new distributed ledger technology (DLT). The Lykke exchange operates similar to JAVA in the sense that it is compatible with any type of blockchain; marketplace was first developed on blockchain of Bitcoin, but is currently being expanded to Ethereum. Every financial instrument can become a listed security on the blockchain in the form of a digital token, through the so-called Colored Coin protocol. Colored coins follow the idea of ''coloring'' a specific Bitcoin - the issuer guarantees to hand out the underlying assets to the person, who returns the colored coin. For example, the Federal Reserve (FED) can issue a colored coin in the same way as it prints paper money; it would take a fraction of a Bitcoin and then insert the ''I Owe You'' statement of the FED, like a regular bank note. The same mechanism can be used for any other financial claim. Colored coins are different in nature than cryptocurrencies, because they have a specific issuer and are backed by a real financial asset.