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OWNii Coin (LiFi Cryptocurrency) Launch Update 2022 And US Security Exchange Commissions (SEC) Registration Progress
In 2018, we wrote an article about a LiFi cryptocurrency called “OWNii Coin”. Global Greenology, a privately owned global manufacturing and design company specialising in environmentally friendly, energy-efficient building solutions, developed a cryptocurrency for LiFi implementation.
Around November 2021, we published another article updating on the progress of the OWNii coin launching. After recently speaking to one of the co-founders of the OWNii coin a few days ago, we decided to write another article about the progress of the launch. Have fun reading the following updated information about OWNii coin.
OWNii Coin
OWNii stands for Optical Wireless Network Internet Infrastructure. OWNii Coin is developed to oversee, develop, and design the physical infrastructure necessary to implement LiFi in the United States and developing nations abroad and was sold privately but the private sale has now been closed
OWNii creates wireless communication that is faster, addresses issues with internet security, and allows localisation due to the small coverage area of Li-Fi access points used for precise asset tracking. Furthermore, providing ubiquitous high-speed wireless access that offers substantially greater data density (data rate per unit area) than RF through high bandwidth reuse.
Global Greenology Enterprise Inc./San Victus Private Limited are the key proponents and developers of such strategic initiatives (“each a “Founder” and collectively the “Founders”). They are in collaboration to spearhead strategic plans for building smart green communities and townships in the USA, Malaysia and other Countries leveraging on Light Fidelity (LiFi) technology-based Optical Wireless Network Internet Infrastructure (OWNii) systems; for developing waste-to-energy (WTE) conversion projects based on plastic, tire and other waste recycling technologies; and manufacturing clean green energy (CGE) generators using state of the art technology.
Launch Update and SEC Registration
A website specifically for the OWNii coin (ownii.net) was developed however the site is still currently going through many changes at the back end and front end. This means the information on the ownii.net site is outdated.
Initially, the launch of the coin was scheduled for the end of 2021 but the Founders find it necessary to register the OWNii coin on the SEC register for transparency and accountability purposes. By December 2021, preparation for SEC registration was initiated by one of the founders of the OWNii Coin. After another conversation with the CEO of Global greenology, we were informed that the SEC registration paperwork for the OWNii coin has been completed and filled during the first of January 2022. This means that the public launching of the OWNii coin is very close.
LiFi Tech News will keep you updated on the progress of the OWNii Coin Launching .
Tokenization of Assets
The token sale is a process of generating and selling a new cryptocurrency. By building a Smart Contract on the blockchain, it is possible to raise and sell coins as cryptocurrency. The process typically involves lawyers, qualified clients, a final private or public sale. In this process, cryptographically generated tokens are sold as digital assets representative of a product or service. Tokens can be designated for redemption for virtually anything, for example, free t-shirts on an apparel site or merchandise from a company.
It should be understood that ICOs these days are governed by regulatory bodies such as the U.S. Securities and Exchange Commission (“SEC”) in the United States. Many entrepreneurs circumvent this regulation by conducting their sales outside of the country and conform to the legal structures and requirements thereof. However, there is not much difference between a penny stock and a token as both of them are based on speculation.
Further, token sales should not be considered as a funding vehicle. While many companies treat them as such — and crow over multi-million-dollar raises that explode in minutes — what they are doing is floating a crypto-currency on the open market, and would increasingly be coming under scrutiny, especially if these are without substance. On the other hand, token sales, ff structured properly, these crypto-currencies can increase its value, thus allowing companies access to additional funds for the project to which such sales initiatives can be based on. However, such events involving the general public would be required to be regulated under the prevailing rules and regulations of the place of such offerings, with the protection of the interests of the general public at large. More often than not, most tokens so offered have no or unspecified basis of intrinsic values, or which purposes of such issuance are based on or associated with systemic risks typical of short-lived or one-off projects of unsustainable long term endeavors.
OWNii Coin creation
The OWNii Coin token is created under the Trexchain Blockchain Network. The OWNii Coin token is not available or offered under an ICO, but is through a PPO that is organized and contracted for sale by the PPO Manager in the jurisdiction of Bahamas.
The single most important distinguishing discerning differentiation of the OWNii Coin token vis-à-vis other crypto-currencies in the market is that it is an asset-backed initiative, with a clear basis of intrinsic value, that would through the passage of time and successful implementation be expected to increase in valuation. Coupled with a pre-set and designed finite number of tokens available, the combination of scarcity and potential increase in valuation would render the tokens an attractive asset class to be held.
Under the organisation and management of the PPO Manager, the OWNii Coin token is marketed and presented by contracted parties that specialized in the undertakings of private placement of offerings, and in specific selected and targeted countries such as Bahamas, United States, Malaysia, etc.
As part of the PPO process, the PPO Manager has directed for the prospective targeted interested parties to undergo registration and the verification and confirmation process of risk management and compliance checks under the guidelines of Know-Your Customer (“KYC”) disclosures and profiling, Anti-Money Laundering (“AML”), Counter-Terrorist-Financing (“CTF”) and observations under Personal Data Protection (“PDP”) measures.
The PPO Manager organize the OWNii Coin tokens to be placed out privately to targeted parties under a set of terms and conditions that are in consultation with OWNii Global, and documented under a PPM.
Main OWNii Coins features
The OWNii Coins are crypto-currency tokens that have the following main features :
1) They are fungible tokens. This means that they can be exchanged, and each token is not unique.
2) The value of each token currently expressed in US dollar fiat currency equivalent shall be captured by the internal Smart Contract per transaction, and upon the successful verification and confirmation by the DANP, shall therefore adjust the value of the OWNii Coin token.
3) There are no life-span limitations or expiry of use attached to any token;
4) They can be readily traded or exchanged under the P2P Crypto-currency Exchange Platform, and on crypto-currency exchanges (at a later date upon the completion of the PPO)
5) They are eligible for Specific Measures outlined by the Founders.
Capital Gains and Realization
Account Holders or owners of the OWNii Coin token can seek toward P2P Crypto-currency Exchange Platform or crypto-currency exchanges to trade, exchange or transfer for profits, realization of capital gains, etc.
Apart from these usual avenues available for any crypto-currencies, the OWNii Coin token owners have other Specific Measures designed to offer different unique avenues to enable the same. These Specific Measures are designed to work in tandem with the intrinsic values of the underlying assets associated with the OWNii Coin token, and attain the distinction of value preservation. The details of the Specific Measures are found under the PPM, and are outlined as follows:
Redemption of OWNii Coin token for fiat currency or cryptocurrencies
Redemption of the OWNii Coin tokens under specified terms and conditions offer Account Holders and owners a means to dispose or transfer the tokens for profit or at cost, with the latter specifically stated to be at the Offering Price.
Such redemption measures have specific periodic timeframes and may be augmented on a standalone basis or in conjunction with Coin Burning. In no case the redemption values of any OWNii Coin token will be at below the Offering Price as part of the intrinsic value preservation.
Redemption of OWNii Coin token for products and services
Redemption of the OWNii Coin tokens for specific products and services is possible as follows:
1) Lighting and IoT devices and products such as LED light bulbs, Li-Fi routers and many more.
2) Wearable apparels such as clothing, wristbands, hoodies, with or without IoT embedded chips or devices for different specific applications.
3) Healthcare related products with IoT embedded technologies for individual heath checks monitoring as well as part of a larger integrated healthcare system.
4) Services that can range from fiscal energy audits, residential & commercial Li-Fi installations, Li-Fi consultancy, etc..
Private Placement Offering (“PPO”)
PPOs and ICOs are used by startup companies to negate the rigorous process of raising capital through venture capitalists or banks. In both an ICO and PPO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for redeemable products and services or other crypto-currencies.
Early clients participating in these types of offerings are usually motivated to purchase the crypto coins with the hope that the project becomes successful once it launches. This would lead to a higher value for the crypto-coin when compared to the rate at which it was purchased before the start of the project.
One example of a profitable crypto-currency offering project that benefited early clients is the Ethereum Platform and its coin tokens known as Ethers. In 2014, the Ethereum Platform project was announced and its ICO raised around $18 million in Bitcoins or $0.40 per Ether. The Ethereum Platform project was introduced in 2015 and since then the value of one Ether went up as high to $1,098 with a market valuation of over $10 billion.
The OWNii Coin token is offered through a PPO, with the following main features extracted from the PPM:
1) The total number of OWNii Coins is 2 billion.
2) The total number of OWNii Coins under the PPO is 500 million. This represents 25%. The Founders are having the remaining 75%, which have been earmarked for private placements to potential strategic investors involved in the OWNii System and OWNii Ecosystem roll out for up to 35% over the initial period of the Road Map under the Strategic Initiatives and Strategic Plans.
Use of Proceeds
At this PPO, the private sale price per token of OWNii Coin was $0.25 fiat currency or its equivalent in cryptocurrencies (“Offering Price”). The targeted amount to be raised shall be US$125 million in fiat currency and/or crypto-currencies. The use of proceeds is targeted as follows :
Capitalization
The equity and/or debt investments into each of the underlying project companies involved in the OWNii Ecosystem and CGE Technologies initiatives in the USA, Malaysia and other countries to create ownership, control and oversight. This is about 30% of the proceeds.
Working Capital & Reserves
The operational business and development expenditures of the various operating entities. This is about 20% of the proceeds.
Investments into Short Term Investment Programs
These would include investments into asset classes such as high-yield investment programs, securities, commodities and resources. Proceeds from such investment asset classes would be applied to the development and expansion of the applications of the Li-Fi and CGE technologies to generate new businesses and projects globally under the OWNii Ecosystem initiative. This is about 30% of the proceeds.
Research & Development Expenditures
These would include investments into manpower, expertise, equipment and facilities to continue to conduct independent or joint research collaborations with key technology partners to improve on current level and applications of technologies.
This would also include the mergers and acquisitions of technologies, patents, licencing, distribution rights, etc. of new technologies that are compliments to the core of the Strategic Initiatives. This is about 10% of the proceeds.
Upgrading the Trexchain Blockchain Network dedicated to support the OWNii Coin token, the OWNii System and the OWNii Ecosystem
The upgrading activities would include the development of the capabilities and functionalities such as the establishment of crypto-currency exchange where transaction fees can be targeted as a new income stream, security infrastructure, capacity & storage infrastructure, risk management & compliance measures, trust wallet partnerships, two-factor authentication (“2FA”) features and the enterprise dedicated blockchain applications to a range of suitable products and services leveraging on Li-Fi, AI and IoT aspects. This is about 10% of the proceeds.
What is Blockchain?
A blockchain is a database that is distributed across a large network. It makes use of a digital ledger that contains transactions and this is shared in the network. Cryptography is used to protect the ledger and users without the need for a central authority. It maintains a continuously growing list of records (blocks), each containing timestamps and a link to the previous one. So a blockchain, you can think about in three different ways. And these are kind of three responsibilities that the blockchain assumes. And it does all three of these things at the same time. So these three different aspects are that it's a network, it's a database, and it's a computer. So it's a network in the sense that it's a public network that anyone can access. You just need an internet connection, you connect connect to a blockchain. It's a database, because it stores information on it. And it's also shared across a network. And it's also a computer because it has computational resources.
One of the many advantages of blockchains is the ability to independently verify transactions in an anonymous manner. The blockchain can also process transactions at a much lower cost than banks and credit card companies.
The main advantages of blockchain-based solutions are:
1. Independent Exchange
Two users can create transactions without the oversight or intermediation of a third party. This reduces counterparty risk.
2. Secure Users
Users are in control of all their information and transactions. Over a distributed database, transactions are encrypted by private and public keys.
3. Low risk of failure
Decentralized networks or distributed database help bolster the security of blockchains. This is because there is no central point of failure, thus making it durable against malicious attacks.
4. Immutability and Transparency
Any change to a record on a public blockchain can be viewed by all users. There is no central authority to validate or record transactions in a blockchain which leads to more transparent system with security. This promotes transparency in the system. Meanwhile, all records are immutable which means that they cannot be modified or deleted.
What is a Cryptocurrency?
Cryptocurrency is a digital asset that uses cryptography to encrypt transactions as well as to control the creation of additional currency units. Since 2009, crypto-currency development has grown exponentially and now offers a wide range of utilities for users. Bitcoin was one of the first crypto-currencies to pioneer this technology and has been growing at a phenomenal rate. With the launch of Bitcoin, other crypto-currencies also began to emerge such as Litecoin, Ethereum, Solana, Cardano, Dogecoin and many more.
Cryptocurrencies have gained popularity because they work in a decentralized environment and allow faster transactions using a peer-to-peer network. Cryptocurrencies function outside the ambit of governing bodies such as banks and governments. This allows users to transact with one another directly without having to rely on a third-party. When compared to traditional fiat currencies, crypto-currencies protect the anonymity of the users and the transactions are secure. This is because these transactions are facilitated through the use of public and private keys along with minimal processing fees. Experts believe that the value of crypto-currencies will increase with time as more exchanges occur. Additionally, by harnessing the blockchain technology, crypto-currencies can securely store user data and transaction details over a distributed ledger technology network. Since it is very difficult to hack or modify a digital ledger, especially decentralized and distributed, it becomes a secure storage for crypto currencies.
The Growth of Distributed Ledger Technology
A distributed ledger refers to a system that replicates, shares and synchronizes data across a network. A distributed ledger draws its legitimacy from speedily applying changes made by a user to all copies present in the ledger.
The integrity of a distributed ledger is increased when other applications are used to protect them (e.g. Smart Contracts). Since Smart Contracts use computer language to define the terms to record contracts, the computer systems can process them instantaneously. It is economically viable to form these contracts, as there are low contracting, enforcement, and compliance costs.
Now, the distributed ledger technology (“DLT”) is still at a nascent stage and the blockchain technology represents one of the very first implementations that make use of it. The predictions regarding its development are positive. Many experts are pointing out that the blockchain technology will revolutionize the way individuals are using emerging technologies. Large banks and governmental institutions are working to implement blockchain technology applications to provide more secure and trustworthy services to their customers.
As the blockchain technology hits mainstream, there are numerous crypto-currencies that appear each year, all of them competing for the same market.
OWNii Coin is not going to be just another digital currency, as its own philosophy is to create a market share around its core initial users, with the intrinsic value backed by assets and established underlying business models initiated by the Founders.
Credit to Signify - Trulifi dongle
What is Li Fi?
Li-Fi, also known as "Light Fidelity" is a wireless optical networking technology, which uses light-emitting diodes (LEDs) to transmit data. In 2011, professor Harald Haas made a LiFi demonstration at the TED (Technology, Entertainment, Design) Global Talk on Visible Light Communication (VLC).
VLC uses light as a medium to deliver high-speed communication like Wi-Fi and complies with the IEEE standard IEEE 802.15.7. The IEEE 802.15.7 is a high-speed, bidirectional, and fully networked wireless communication technology-based standard similar to Wi-Fi's IEEE 802.11.
How does Li Fi work?
Li-Fi is a high speed, bidirectional, and fully networked wireless communication of data using light. Li-Fi constitutes of several light bulbs that form a wireless network.
When an electrical current goes through to a LED light bulb, a stream of light (photons) emits from the lamp. LED bulbs are semiconductor devices, which means that the brightness of the light flowing through them can change at extremely high speeds. The signal is sent by modulating the light at different rates. The signal can then be received by a detector that interprets the changes in light intensity (the signal) as data. Also when the LED is ON, you transmit a digital 1, and when it is OFF, you transmit a 0.
LiFi Benefits
The primary benefits of LiFi are as follows:
• Security: Provides entirely secure access. Where there is no light there is no data.
• Safety: Does not produce electromagnetic radiation and does not interfere with existing electronic systems.
• Localisation: Allows localisation due to the small coverage area of LiFi access point - localisation can be used for very precise asset tracking.
• Data density: Provides ubiquitous high-speed wireless access that offers substantially greater data density (data rate per unit area) than RF through high bandwidth reuse.
Credit to Signify
LiFi Applications
LiFi can be used for so many applications and the list is increasing every year. You can read our updated list of LiFi applications at the following link:
Credit to Oledcomm
In conclusion, if you are also interested to hear more information about the OWNII Coin or enquire about LiFi devices such as the LiFiMax and Trulifi, you can contact us through our chatbot or by sending an email through our contact us form. If you enjoyed this post and would like to hear more updates about LiFi technology, subscribe to our newsletter. Don’t forget to subscribe to our social media accounts. You can also join our Telegram group about LiFi technology on this link:
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