LexRay Plans Entry Into Mobile Payments With its Eponymous Cryptocurrency

January 3, 2019         By: Steven Anderson

Cryptocurrency was one of the biggest news items of 2018, on the whole, and with good reason. Whether it was up, down, sideways, or doing something completely new, it kept showing up and giving us something new to consider. In fact, in the very last hours of 2018, we got word about a new move from Mobilprise Inc, doing business as LexRay, who announced it was joining the cryptocurrency stakes with its own LexRay token.

The LexRay is designed to be used on LexRay’s own internal platform, which opens up a slate of new possibilities for use, even if these are highly specific in nature. The LexRay blockchain platform offers tools for managing “mission critical facilities” as well as “ground crews and security systems from anywhere.” Thus, those who get in on LexRay will be able to use the cryptocurrency to cover costs related to the platform’s use.

The first tool the LexRay platform is set to offer is a decentralized video platform complete with built-in analytics systems, all geared toward mobile devices. That could be an appealing prospect, especially if it goes as far as it might to be a contender with mobile streaming operations.

The value of the LexRay token itself is unclear, and is poised to be directly connected to the overall growth and adoption rate of the LexRay platform. If no one actually uses it, the token will be mostly worthless. The launch is set to be backed by Froriep, one of Switzerland’s leading law firms.

There are a lot of question marks surrounding this launch. These are utility tokens, which means they don’t have a use that’s as yet known other than their specific purpose, here, access to the LexRay platform. This in turn means that they likely won’t get a lot of outside interest, and they’ll only be useful within their own narrow band. That’s just as well; with well over 1,600 cryptocurrencies in play, trying to get attention for a new one is next to impossible anyway. However, a special feature or unique proposition can still attract attention, even if LexRay is a bit too unique for widespread use.

Still, for those who plan to use the LexRay platform, the LexRay token should smooth out the whole affair well.