LEOcoin launched its own exchange (http://www.leoxchange.com) only last month in the very same city, and already 32,000 merchants have signed up to trade LEOcoin on the http://www.LEOMarketplace.com.
A month on Dan Andersson was back to explain how it is the small and medium sized enterprises (SMEs) in the world's economy that were going to be the key driving force behind LEOcoin's success. Speaking ahead of his conference appearance Mr Andersson said:
"Our business, Learning Enterprises Organisation Limited (LEO), has always been about providing small business owners with the confidence and skills to expand their enterprise. It has become increasingly clear through our work with the 160,000 LEO members that one of the biggest barriers to their ability to trade on a larger scale is the cost and security of international transactions.
"Digital currencies, like LEOcoin, offer a radical opportunity for business owners to make direct private transactions with no charges."
Dan explained that one of the reasons we have not seen wide scale adoption of digital currencies to date is because they have lacked mass market appeal. Simply put, not many people are trading in digital currencies because not many people are trading in digital currencies.
Where LEOcoin offers a departure from the status quo is that there were already users signed up to the idea of using the coin, before it had even launched. This knowledge that there was an existing market to engage with has driven uptake of LEOcoin from the moment it went live. This has created an incentive for traders to build their own ecology rapidly.
Dan Andersson added, "It is the fact that there is an existing market place of bricks and mortar traders that will drive LEOcoin's success. A market place with zero transaction fees where they can trade internationally and privately, provides a solution to many SMEs previous reticence of global trading."