Business Showcase : Lightcash

By @SimonCocking

Describe the company – the elevator pitch …

Lightcash are the first fully legally compliant system for operations with cryptocurrencies and fiat money with own crypto coin secured by real gold.

How are you different?

From the regular person’s point of view, the main obstacle for using crypto is high volatility. The course of popular coins can go up and down significantly in a very short time.

This is why many cryptocurrency wallet owners use them only for speculation, in the hope of gaining some profit from these price changes and not for the real usage of crypto.

In order for the optimistic future of the blockchain described by analysts to come true, it is necessary to create a tool to minimize the traditional limitations of the cryptocurrency and allow maximum use of their advantages.

Lightcash system aims to solve this very problem. Its internal cryptocurrency is not mined, instead it is secured by real gold from mines and deposits in Russia.

Why will you do well?

According to the analytical company Statista, the volume of the global e-commerce market in 2016 exceeded $1.8 trillion. Forecasts estimate that by 2021 this figure will grow to almost $4.5 trillion. In turn, analysts of the Boston Consulting Group estimated the volume of the world market of online payments to be $16 trillion in 2015, and predict that by 2020 it should grow to $21 trillion. According to Statista, the number of people buying online will grow from 1.66 billion in 2017 to more than 2 billion in 2020.

According to McKinsey, global companies engaged in the digital payments’ market had profits of $1.8 trillion in 2015, and by 2020 these figures should reach $2.2 trillion. The Lightcash project will take a worthy place in this market thanks to its stability provided by connection to real gold.

Gold ore from the site

The indicator of end-to-end gold recovery is 93% with an average of 80% worldwide. The project provides low cost of production and processing. The average total cash cost (tcc) value is $584 per oz, while the world average is $700 pe roz. Aforementioned facts allow us to achieve high economic efficiency of the project with an average EBITDA margin of 54%.

Where are you based?

Our headquarters is Belize City, Belize. Gold mining deposits owned by the company are located in Russia.

When was the company launched?

2017

What have been your biggest wins to date?

The Lightcash parent company already owns a working gold mining enterprise and all necessary licenses. By purchasing tokens, investors receive a stake in this business. The return of the invested funds is therefore guaranteed.

The company has built its own settlement for gold mining workers with good living and working conditions. In addition to residential modules, the village has its own dining room, laundry, and sauna, as well as turning, welding, motor workshops and power supply points.

Who are you trying to attract to your product?

Our target audience is current cryptocurrency users and those who are interested but scared by its current volatility.

Tell us about your team?

Here is the link to team bios

Vyacheslav Vokin
Lightcash CEO and Co-founder, Entrepreneur
Vyacheslav has a bachelor’s degree in law. He is a successful entrepreneur who launched his first business back in 2003. The current Lightcash CEO, he has extensive experience in international trade and logistics. He speaks Chinese and English.

Mikhail Maksimovich
CMO, Head of Digital Marketing Department
PR professional. After graduation from the University in 2013 Vyacheslav worked for various media outlets for two years. During the following three years he was actively engaged in business activities. In 2016, he launched his own media holding and formed a network of remote employees to solve marketing tasks, create content, conduct web analysis, and develop ad campaigns.

Alexander Lashkov
PR, journalist, Marketer, and PR Expert
Founder of US-based content marketing agency Smile Bright Media Inc. He has huge experience in working with new tech startups and blockchain projects. Included in ‘100 People to Watch in The Blockchain and Crypto Space’ list by Hackernoon tech blog.

Alexey Pechkin
STO, developer
Alexey has been fond of new technologies and science since his college years. He was listed as one of the top 10 young scientists of the Russian Federation. He is the creator of the first Russian virtual reality headset NVR. Areas of professional interests: AR/VR, medicine, engineering. Alexey has many RAS (Russian Academy of Science) awards for his scientific and technical projects.

Artem Yakovlev
Team leader
Artem has an education in law. For several years he was in the civil service, and later held executive positions in international finance and industrial companies at an international level. He has extensive experience in the development of Internet projects.

What are your plans for the future?

We are planning our ICO, the funds raised will be used to purchase the working ore gold deposit in the Republic of Buryatia (Russian Federation). The money will go to the parent company LBS Corp., which will buy 70% of the deposit with a realistic estimate of gold reserves. Based on the reserves of this deposit, we will conduct an additional emission of Lightcash Crypto Gold (LCSH) internal cryptocurrency.

To make sure that all operations are fully legitimate and legal, additional licences will be acquired from IFSC (International Financial Services Commission) in Belize:

License for money transfer services.
Payment processing services licence.
License for trading in financial and commodity-based derivative instruments and other securities.
Money exchange license.

Obtaining these licenses will enable us to operate in full compliance with English law and exclude the risk of being persecuted by international financial, supervisory, and supervisory bodies.

Be the end of May we should have a fully functional service released and in Summer 2018 we are going to purchase a new gold deposit and begin to work there.

How do people get in touch with you?

mail@lightcash.io

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If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at Simon@IrishTechNews.ie or on Twitter: @SimonCocking