We're happy to announce our latest addition to the list of accepted Altcoins and Cryptocurrencies: LBRY! Welcome to the family! You can now use LBRY Credits (LBC) to pay for international bank transfers and use it to top up your Bitwala Debit Card. It's fast, cheap and convenient.
So what is it all about?
LBRY's (pronounced library) goal is to make every film, song, book and game ever made accessible anywhere. It uses blockchain technology to provide a new way for people to publish and share content with each other, cutting out the corporate middleman. It claims to be a decentralized, censorship-resistant, open-source, peer-to-peer information marketplace and discovery protocol. LBRY was incorporated by Jeremy Kauffman in 2015. LBRY is powered by its own cryptocoin, LBRY Credits (LBC), which began being mined on June 27th, 2016.
LBRY, the BitTorrent of Blockchain!
LBRY has been called the Lovechild of Bitcoin, BitTorrent & Storj, which is a fairly accurate description. (You can also use Storjcoin X, the token of Storj to use Bitwalas services, by the way.) The first movie screening using the technology happened at Porcfest in June 2016, showing the apocalyptic comedy It's a Disaster. The movie has since made roughly 1200 USD. While this is not really a lot of money for a major Hollywood production, it proves that the concept is working and could add to revenue streams of movie makers, publishers and independent artists on a global scale.So how do I use LBRY with Bitwala?
Easy. Simply sign up at Bitwala, fill out your payee details and the other required information. Click "Confirm Details" and then choose "Pay With Altcoins". Now you can select LBC. Follow the further instructions on the screen and you're done. We've released a step-by-step guide over here (scroll down a little).