Symbiosism Economy Foundation Joins The Singapore FinTech Association

The Symbiosism Economy Foundation (SEF) announced on Tuesday it has become a member with voting rights of the Singapore FinTech Association (SFA), a cross-industry, non-profit association that aims to be a platform for collaboration between all market participants and stakeholders in the financial technology ecosystem. Established in 2016, the SFA claims to currently be the largest non-profit association in the country. Speaking about SEF joining the SFA, Chan Mieh Chieh, Head of SEF, stated:

Singapore has always been a world-renowned financial center and we are very pleased to join SFA and make our contribution in this continuous development of science and technology.”

The SEF was founded in 2017 and is described as a future economy platform to quantify behavior value generated by internet users. Its LivesOne project is currently in operation. The organization noted it believes that different Internet behaviors possess different values, and the LivesOne can price all those behaviors such as registration, purchase, and ad click and then assign cryptocurrency LivesToken (LVT) to users accordingly. Chia Hock Lai, Chairman of SFA, then commented:

“We are very pleased that SEF has become a member of ours and the team of SEF has a very rich Internet experience and financial wisdom, which is of great significance to every member of the association.”

The SEF previously launched the LVT and recently partnered with Maxton to launch the LivesChain blockchain project. It was reported at the time:

Users’ daily Internet using behavior like account registrating, content creating, browsing, commenting, sharing, and online shopping all generated value for businesses. But the users themselves did not receive any material reward. The emerge of the LivesChain is aiming to solve this problem by putting all Internet applications together to form a economic system. Users using applications that accessed to this system will be given material reward in the form of LivesToken(LVT) based on their online behaviors on a daily basis according to dynamic algorithm. On the other hand, users who possessed LVT can use it in the Symbiosism system to purchase value-added services. This could ultimately achieve the common benefits for both businesses and users.”

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