April Fools’ Day Breaking News: Ethereum and R3CEV Collaborate to Develop New Currency Lizardcoin Using Best Blockchain Technology

The Ethereum Foundation announced that it is collaborating with banking consortium R3CEV to create a new blockchain-based cryptocurrency, Lizardcoin, with the goal of showcasing the benefits of blockchain technology and proving R3CEV’s ability to bring blockchain technology to institutional clients and regulators by supplementing it with appropriate centralized governance.

Lizardcoin aims to become a store of value that can compete with Bitcoin, breaking the 21 million supply limit of Bitcoin, starting directly from a maximum supply of 20.9 million, and then decreasing by 1.5% each year. This move can be accomplished through one of the greatest innovations of modern central banks - negative interest rates. A 2.5% fee will be charged to each Lizardcoin account each year. 1% of the fee will be at the discretion of bank members.

To qualify for Lizardcoin, users must first complete the Know Your Customer (KYC) process with 28 of R3CEV’s 42 bank members. This approach is highly decentralized. The mechanism has been endorsed by Byzantine fault tolerance experts Andrew Miller and Emin Gun Sirer.

Paul Randomer of IBM also gave the project a positive review, saying:

“IBM has two professionals currently developing Lizardcoin technology. We hope to include this platform in our 37125 internal research project portfolio. We think Lizardcoin has great potential and is the future of cryptocurrency.”

JPMorgan’s Bob Inthere also said:

“Banks have always been threatened by decentralized technology. But now we have a platform like this that allows us to harness the power of cryptocurrency. Rather than disrupting our core business, it will strengthen it and ensure our revenue continues to flow.”

The Lizardcoin crowdfunding project will be launched in two weeks and will accept both ether and unicorns as payment, with an exchange rate of 1 unicorn = 2.014 ETH = 4.712388 LIZ; people from all over the world can participate, but first they must pass the KYC procedures of 28 banks, including multiple visits in several countries; we have cooperated with CoinDesk and will hold blockchain conferences in these countries in the coming year.

Original: https://blog.ethereum.org
By: Vitalik Buterin
Compiled by: Kyle
Source (translation): 8btc Information (http://www.8btc.com/ethereum-partners-with-r3cev)