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The blockchain technology is one of very high potential and usefulness. It has the power to disrupt almost every industry and even give rise to a new decentralised internet. Although for now its biggest application has been cryptocurrencies, some experts believe that the blockchain technology is meant for much more than that. It is definitely thought to have brought about a major change in the working of the world economy with cryptocurrencies and smart contracts, and removed the need for intermediaries in any kind of transactions, making the term "cryptocurrency" a popular buzzword for a very long time.
***"Virtual Currencies may hold long-term promise, particularly if the innovations promote a faster, more secure and more efficient payment system."***- Ben Bernanke
But has that really been the case? Most governmental organisations and several powerful private companies are against cryptocurrencies being a universal mode of payment and have painted a negative picture for the practicality of blockchain technology. Most people do not even know how the technology works. As a result, this has caused the general public to be unconvinced in the use of cryptocurrencies as a mode of payment and reduced its influence in the global economy. Now cryptocurrencies are only popular as an expensive form of investment and hold interest only amongst expert miners and investors. Several ICOs launched by start-up companies have not been very successful. There has been no scope for making blockchain technology accessible to the public, because there are very few organisations that actually accept cryptocurrencies as a form of payment. So it is pretty safe to say that unless the scope for payment using cryptocurrencies increases, blockchain technology will not be able to reach its full potential. This is exactly what litenett aims to provide, with its blockchain-based social network.
**Everything at One Place**
Litenett has developed litenett.com, which is a new European social network with a decentralized payment system powered by Blockchain. It is intended for an audience of hundreds of millions users. The project allows users to get numerous services like social networking, music and videos in one application with great speed and efficiency. Litenett supports more than 30 languages and it is available on all devices, thus making it accessible by any person all across the world. Its payment system is decentralised, as I have mentioned before, and it uses cryptocurrencies and smart contracts for carrying out transactions on the network in a secure and transparent manner. By doing so, litenett bring the blockchain technology to its entire audience, which is in the order of billions.
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Litenett has also launched an all-in-one app which allows users to manage content, create groups and small blogs on which other users can post comments. It also provides private chat features and entertainment like music and movies. The messenger in particular enables both private and group communication including video and audio communication. A multi-currency crypto-wallet is available for users to store their crypto-tokens and use these tokens to make payments. The use of blockchain technology makes these functionalities extremely secure and transparent, and eliminates the need for an intermediary.
**Unlocking the Potential**
By developing a multi-purpose application which accepts cryptocurrencies as a form of payment, litenett has managed to bring blockchain technology to the common public. It also provides a sense of ease-of-use, since everything is available in one place. It shows great creativity and innovation in terms of idea and implementation. With its highly diligent and professional team and its supportive and powerful investors, litenett is sure to be a very successful venture and contribute to the development of blockchain technology.
**Website** - http://www.litenett.com/
**Whitepaper** - http://www.litenett.com/WP_Litenett_EN.pdf
**ANN** - https://bitcointalk.org/index.php?topic=3412464.0
**Telegram** - https://t.me/Litenett_ang
Published by **dannywhelan**
**Btalk profile** - <https://bitcointalk.org/index.php?action=profile;u=1606458>
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