Charlie Lee outside of Litecoin: the role of an advisor in DMG Blockchain and possible cooperation with the TokenPay project

Image for post
Image for post

The founder of Litecoin crypto currency Charlie Lee joined as a shareholder and advisor to the Canadian DMG Blockchain Solutions and will help her with the development of strategic plans for further development. AMBCrypto writes about this .

Based in Vancouver, DMG Blockchain Solutions specializes in the mining of bitcoins and other crypto-currencies and the use of blocking technology in supply chains.

Charlie Lee himself also confirmed this information on his Twitter, noting that the company plans to expand its mining operations and start producing LTC, and is also working on developing solutions using the Lightning Network protocol.

Image for post
Image for post

According to Dan Reitzig, CEO of DMG Blockchain, many of the company’s customers were interested in when the opportunity for LTC mining was added, and now this option will be available within the framework of the service offered by the company Mining-as-a-Service [MaaS].

He also noted that he was fortunate enough to enlist the services of Charlie Lee, who was previously an important shareholder of Blockseer, a company that was later acquired by DMG Blockchain.

Earlier this month, the Canadian company announced that it is joining the Lightning Network protocol development, which provides microtransactions and increases bitcoin scaling. In particular, DMG Blockchain uses LN for atomic swaps between different blockboys, primarily between bitcoin and Litecoin.

Meanwhile, the publication of Finance Magnates reports that Charlie Lee is in talks with the TokenPay project, which plans to purchase a stake in one of the German banks and use Verge’s crypto currency as a payment solution. In case the negotiations succeed, TokenPay suggests adding the possibility of using LTC for this purpose.

As the publication writes, on the topic of possible cooperation, Charlie Lee and CEO of TokenPay Derek Capo came out in the process of discussing the recent news that the world’s largest adult-site Pornhub added Verge as a payment option. At a certain stage, the creator of “digital silver” offered Derek Capo his help, inviting him to continue the conversation in personal correspondence.

On a number of (yet unconfirmed) assumptions, Charlie Lee and TokenPay even signed an agreement on confidentiality and non-disclosure of information.

Recall that at the end of 2017, Charlie Lee said that he had sold all the LTC coins that belonged to him, since he did not want to be accused of personally influencing the price fluctuations. At the same time, he assured that he did not leave Litecoin and would continue devoting time to the development of this crypto currency.

Author: Marko Vidrih @cryptomarks

Written by

Most writers waste tremendous words to say nothing. I’m not one of them.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store