Michael Rodriguez, the CTO of Lite.IM, spoke about the release of Lite.IM on Facebook messenger at the Litecoin summit in San Francisco this year. Rodriguez said:
“It’s pretty huge as the first crypto on Facebook is Litecoin, and this opens the door to a user base of around 2 million people all over the world. It’s also the beginning for us as we have big plans in store.”
Rodriguez confirmed they have taken extra security so that third parties don’t get access to the users’ passwords. He said the main agenda was to bring Litecoin to the people who don’t have access to it by ordinary means.
“Our ecosystem enables banking empowerment to the whole world, connecting every network, including phone numbers via SMS and soon USSD, and to people with restricted access to the internet or technology.”
Connecting individuals in first-world countries to their platform of choice makes it easier to send Litecoin, he opined. According to Rodriguez, this is better than knowing someone’s Litecoin address, which is ‘cumbersome’. The Lite.IM has plans to soon enable invoices, which will make accepting payments for merchants easier.
Lite.IM is the first crypto wallet to be introduced on Facebook messenger, which was implemented after the approval from Facebook authorities.
Zulu Republic, the company behind Lite.IM, has expressed plans to support social media platforms. Zulu is proactively pushing Litecoin adoption, rather than waiting for users to leave platforms which they are familiar with.
Lite.IM does not control users’ private keys, thus giving the user full control of their own funds. This leads to the combined benefits of a centralized platform, such as interoperability along with a user-centric wallet.