23 May, 2022
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Start of week update

23 May, 2022

Kicking off another week! We’ll be focusing on finishing up deals and getting ready for May 30, so expect the next couple of updates to be quite brief.


We’re headed into the final week of the MEXC trading competition! It’s still not too late to join the fun using our link. Full disclosure, Lox Technology may receive payment from MEXC with each new account using the provided referral link. For those who may not be familiar with MEXC and slightly off topic, the exchange hosts regular AMA seminars. Earlier today, MEXC hosted an AMA with a representative from the HBAR Foundation, has scheduled the Ethereum-based $ARA team to speak shortly, and is frequently making headlines in crypto news. If you’re interested in following what they’re building, please follow our friends at MEXC on Twitter.

London Met

This week, we’re scheduled to meet with the London Metropolitan Police for a third meeting. Our introduction meeting went very well last month and our second meeting earlier this month gave us great feedback.

Our aim in this meeting is to provide a better understanding of how Britain’s premier police department can take advantage of the Lox Network’s benefits to verify immutable data and facts without needing to hold any cryptocurrency — the last part seemingly among their chief concerns. Lox Technology understands their point of view regarding holding cryptocurrency as the Met is a public service expected to be exemplary stewards of public funding and has fiduciary obligations to the taxpayers they serve.

As you are already familiar, no one person needs to hold any cryptocurrency to leverage the power of blockchain technology. Even if you hold no $ETH, for example, anyone can still read the Ethereum blockchain through publicly available products like Etherscan.

In the case of Lox Network, police departments with access to Lox Technology’s private chains can verify a mobile device’s basic data on the publicly available Lox Network chain and then, if needed, go deeper into the transaction history using our hybrid blockchain. All without requiring a single $LOX token as there is no single transaction being made; this use is strictly reading to verify a report.

Again, for those familiar with blockchain technology, the above paragraphs are incredibly basic that can all be easily expanded on. However, even to many cryptocurrency speculators and investors, this is not well-known. We feel it’s our responsibility at Lox Technology to help people understand this fundamental concept so they can make an educated decision if the technology can help improve their work.

Wrap Up

The fourth Lox Trio snapshot was successfully captured yesterday with the final snapshot scheduled next Sunday. At that point, the average holdings of each token in each self-custody wallet will be taken and the Top 100 of each will earn a Lox Founders NFT. The NFT will give it’s holder access to Lox Technology’s beta tests of Lox Network and some of the products built on top. (Please note, each wallet will only receive one NFT, so if your wallet is Top 100 in more than one token, your second (or third) NFT will be redistributed to the community pool.)

And last, be sure to get your questions in to our staff, ambassadors and moderators for next week’s monthly AMA with Lucas. There’s still plenty of time to get your questions over to us.

Thanks again for the support as always, #LoxFamily! – Team Lox


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