LIFELabs with its business leaders of digital world, generated a further accessible cryptocurrency named LIFE in 2016 that runs on the blockchain of Ethereum. The name LIFE is actually acronym for Lightweight Intermediaries For Exchange.” The management of LIFElabs comprises of five founding members named Jonathan Bushnell, Iain Stewart-Bridges, Alistair Hammond, Darren Talbot and Karl Higbee. The team is highly skilled in diverse sectors including compliance, fintech and other contemporary technologies. The official website for LIFECoin is lifelabs.io.
The key objective behind the LIFECoin was to cater the giant organizations that desire to remunerate their employees by gifting such coins. At the same time, the company targeted the e-commerce industry by creating ease of performing transaction and exchanging digital currencies. All of these operations are performed at back of Ethereum blockchain which is quite popular around the world. Reward LIFEToken, Business LIFEToken and LIFEPersonal Tokens are the products meant specifically for this objective.
Moreover, another objective of LIFECoin was philanthropic as the coin was meant to largely use in global charities and other humanitarian issues. Philanthropy LIFEToken is the product which purely designed to achieve this objective.
After its inception, the digital currency was able to successfully join the Ethereum Enterprise Alliance (EEA) in July 2017. The currency kept on progressing and was able get listed on hitBTC which is a global digital exchange.
CAF held a conference on philanthropy and cryptocurrency in December 2017. Hence, keeping in view the philanthropic objective of LIFE, the company started donating to several charities in April 2018 that include Royal Marsden Cancer Charity, Chain of Hope, Caudwell Children, L. A Heart Foundation and Surfers Against Sewage.
In May 2018, LIFE achieved yet another milestone by partnering with PGA European Tour. This made LIFE the first ever cryptocurrency in the field of tourism.
In August 2018, the company launched its first digital wallet called LIFEWallet on iOS application. In the same month, the company also revised its whitepaper.
Unlike other digital currencies in the market, the inception of LIFECoin was aimed at providing ease of access to cryptocurrencies for the general masses. Hence, it claims to be a long-term sustainable digital asset that has plenty of growth potential for future.