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Press release content from PR Newswire. The AP news staff was not involved in its creation.

L3COS Blockchain to Officially Launch at the World Economic Forum 2020

November 18, 2019

NEW YORK, Nov. 18, 2019 /PRNewswire/ -- L3COS, a three-level blockchain for governments, businesses, and individuals, will be officially presented at the World Economic Forum (WEF) Annual Meeting 2020 in Davos-Klosters, Switzerland.

A demo version of the project is already available for evaluation purposes. Yet the official launch will take place at WEF on January 21-24, 2020. The L3COS team plans to perform a series of get-acquainted sessions where it will tell about the project in detail, covering its potential and benefits for governments and businesses.

About L3COS

L3COS is a blockchain with three separate consensus algorithms, each providing individual functionality for governments, businesses, and individuals. It allows automating processes while preserving discrete digital identity, as well as establishes conditional governance.

The L3COS blockchain consists of three levels: the top level operates as Proof of Government (PoGvt), providing each government with a super-node, and each government has control over two other levels, including token issuing processes.

The middle level is based on the Delegated Proof of Stake consensus algorithm, where businesses perform operations. Finally, this is the level based on the Proof of Storage (PoST) consensus for individuals that can rent their storage to the rest of the system, with control over data usage.

About the World Economic Forum

The World Economic Forum (WEF) brings together the world’s industry leaders from politics, culture, business, and society domains to discuss ambitious initiatives that shape the future of global industries in various verticals.

Founded in 1971 as an NGO, now WEF remains an independent organization, demonstrating the highest standards of governance and entrepreneurship at a global scale.


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