Operator payments Litepay specializing lidoine, stops his work until, until you find a buyer. Blog Fund Litecoin Foundation 26 March, it was reported that the CEO Litepay Kenneth Asare decided to cease all operations in connection with the preparation of company for sale.
The report States that prior to the closure of the company from Azara had conflicts with the Litecoin Foundation and the community as a whole. The author Keith young says that Azara “was not open” in the management of financing projects of non-profit organizations; he also held controversial and unsatisfactory work with the user community during a recent session of Ask Me Anything (AMA) in r/Litecoin is the most active subreddit litecoin.
After AMA community expressed their concern Litecoin Foundation, which in turn turned to Azara. As they say in the message, then Azara asked Fund additional funds. Failure, apparently, spurred its decision to cease operations and find potential buyers.
The blog says:
Litecoin Foundation has refused any extra funding, as Azara was not able to present a convincing report about where the money was spent and refused to talk in detail about Litepay and to provide objective evidence to support your own statements.
During the AMA, the Director General has been criticized by the community of litecoin over the lack of transparency, failure to provide information about the team or documents on the website Litepay, not disclosing information about the delay of issue of debit cards Litepay before the official start of the platform. Keith young wrote:
We discouraged the fact that this Saga ended this way, and apologize for the lack of discretion that could identify these problems early.
Perhaps the word “Saga” too dramatize the situation, since the project closed about a month after launch (and it has not been fully integrated). However, the cryptocurrency community operator payments is met with great enthusiasm, and even third-party observers said that it may be the solution that will bring cryptocurrency, buyers and sellers.
After the announcement of the project in mid-February, the price of litecoin has increased by 40% during the week, and then crossed the mark of $255 and this was the highest figure since the collapse in January-February. So users welcomed the opportunity Litepay implementation of cryptocurrency payments in their daily activities.
However, it seems fans of litecoin and cryptocurrencies in General will have to wait until payment solution will overcome the gap between virtual and physical worlds. By the way, if Azara sell a competent project organisation and team, then he probably will still be called Litepay.
For Litecoin Foundation it doesn’t matter. The report said that the money for the Fund is above all that his success does not depend on Litepay and that the Fund continues to search for any payment solution, which could offer the community:
Litecoin is perfectly coped with his Affairs and promises to Litepay, and it will continue to do so. Our ecosystem is much more than just one company, and it is constantly growing. The products ready for the market, join our space and keep your promises, helping the world to use litecoin.
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