DJ Lethal and Justin Lally have launched an altcoin for the music industry called Kashcoin. Users will be eligible for deals and perks. The goal is to introduce music lovers to cryptocurrency.
The currency will be available on multiple cryptocurrency exchanges starting this week for trading, according to a press release.
Represented by the symbol KASH, Kashcoin is intended for use across the music industry by bands and music lovers in concerts and festivals, for purchasing records, clothing and merchandise. The platform intends to offer music lovers something which isn’t otherwise available. Kashcoin users will be eligible for special deals and perks .
Leor Dimant, aka DJ Lethal, has been part of multi-platinum groups, including Limp Bizkit and House of Pain, along with partner Justin Lally, who is also a producer.
Lally said Kashcoin's focus is on merchant adoption. “Rather than just asking merchants to use Kashcoin, we are working to provide them with the tools to make this happen,” he said. He said merchants will be able to integrate Kashcoins into their existing payment solutions.
“We are asking merchants to tell us what they need and then respond to that with our development,” he added.
The main goal is to encourage adoption of the cryptocurrency for music records and merchandise.
Kashcoin does not intend to compete with bitcoin. It is intended for a niche audience and intends to cater to the segment satisfactorily before expanding to other segments.
Kashcoin wallets will be available for all major operating systems and devices.
The platform also announced the availability of pre-mining for miners.
Specifications include pre-mining, proof of network stake, proof of anonymous burn destroy, minimum stake time one hour, maximum stake time eight hours, minimum transaction fee 0.01 KORE.
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