Britain, the financial hub of the world, hopes to become the DeFi hub of the world with the help of Online Shop team

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The team behind the software company that redefined what e-commerce is, Online Shop, has been put at the forefront to spearhead Britain's efforts to become the world's capital for virtual asset management, decentralised finance and crypto currency exchange.

With many nations having a 'go to' company for all DeFi activity, such as Turkey's BTCTurk and United States' Coinbase, there hasn't been much in innovation when it comes to the crypto field in Britain. But 'that's about to change' states Ahmed, Chief Technology Officer of Manhattan based Online Shop Inc, and the newly formed Financial Express LTD, in Knightsbridge, London with offices right next to Harrods at the luxurious and highly sought after Montpelier Street.

The newly formed company aims to use the derived blockchain technology and protocol which was used to protect sellers and buyers on the Online Shop platform called 'Live Value Protection Protocol' combining it with Terry McGinnis' updated 'spooling' method of solving complex mathematical problems instead of 'mining' per traditional route, first privately released by McGinnis in 2014 as a Bitcoin competitor called 'uCoin', but never seeing a public release until now, however a repository does exist on McGinnis' personal GitHub account showcasing the prowess in cryptology by the young entrepreneur.

McGinnis, Chief Executive Officer of Online Shop and Executive Director of Financial Express met Ahmed during a movie project they were working on, quickly striking up a friendship and becoming business partners, with the launch of a product sourcing app, Dropshyp. Carlos Sanchez had joined the Online Shop team after attending a lecture and speech by McGinnis at University of Manchester, also striking up a friendship and a close bond over appreciation for innovative technologies.

Sanchez who works as a developer at Online Shop and executive producer for a multiplayer video game Babylon Online, developed as a side project by the Online Shop team on their off-time, had exited his own blockchain technology company based in Spain whilst studying for a Master's degree in astrophysics at University of Manchester.

In an interview with a radio station during his visit to Turkey, McGinnis expressed concerns over abundance of scams and 'lax' governance of DeFi companies, specifically those that 'pump and dump' and see little to no repercussions.

Speaking at the radio interview he expressed that Britain leads the way in every aspect of operations across the world, whether it be finance or else and wants to implement strict governance for British based DeFi companies, helping Britain's Financial Conduct Authority to make robust, and scalable policy that will allow for new, legitimate and trustworthy start-ups to form, and see harsher punishments for those taking advantage of consumers, and breaking their trust, and sometimes even their livelihood.

"For us it's important to protect everyone, that was the whole idea of the technology when we first had developed it for Online Shop. However we didn't feel it was right to launch at the time, as the whole world of digital currencies, assets and more was booming – eventually crashing, and leaving many out of pocket for thousands if not millions. The behaviour, conduct and acts perpetrated by those parties is absolutely immoral, disgusting and showcases the greed some have." McGinnis continued to express his concerns and plans to protect consumers and work with enforcement agencies like Britain's Financial Conduct Authority to ensure consumers are protected, and law is adhered to.

"We want to work with compliance bodies such as FCA [Financial Conduct Authority] to protect consumers and communities that may be vulnerable to the tried old 'get rich quick' ponzi scheme, that crypto is now infamous for, whether through actual tokens or NFT's. Our goal is to work with such enforcement and compliance bodies to help them compose fair and just policies and guidelines, as well as central banks such as Bank of England – to become a trusted source of not only information but protection, compliance and adherence to the rules; there is too many cowboys in this area that need to be reigned in, or not be allowed to operate at all.

Being a very early adopter and developer in this space has shown the good and bad sides of it; overall it is something opportune, for both financial companies and consumers, we hope to improve on a lot of aspects fiat is falling behind on, such as faster transactions, lower fees and of course constant innovation and evolvement of our products and services, as society itself evolves."

The company is launching the combined and developed efforts from previous years as a decentralised protocol and an exchange, with the updated blockchain technology becoming relatively soon which will also provide access to the now infamous 'OSX' artificial intelligence service, used in-house by the Online Shop team. The service will keep its name Live Value Protection Protocol, shortened to LVP, with more and more updates being added by the hour with the biggest focus being environmental friendliness through the innovative 'spooling' method and greater consumer protection and helping the British government and enforcement bodies to compose policies and legislation that will curb fraud and protect consumers.

McGinnis who is from the infamous Rothschild family dynasty states that he feels 'right at home' with the new company and that it won't have an effect on his duties as the Chief Executive Officer of Online Shop.

The company is seeing massive support from the British public who are looking for a home-grown company that sets a worldwide standard for others to follow, with backing from business tycoons such as Robin Vauvelle and Matthew Burrow, a successful property developer from Great Britain and government bodies who want to provide more opportunity not only for its citizens but also foreign entrepreneurs and businesses after the recent slump in economy thanks in part to COVID-19 and Brexit.

Ahmed who has been awarded several awards in Britain for his prowess in development, and contracts from intelligence agencies in Britain has been an early evangelist of blockchain technology and crypto and believes LVP will be seen as the place to go for all decentralised activity, that both is safe, secure and environmentally friendly thanks to its proprietary 'spooling' technology, allowing Britain to lead in another area to fight climate change, corruption and criminal activity, setting an example for others to follow and live up to.

The company has also been in talks with Japanese government officials who also closely adhere and co-operate in financial matters with the British government and agencies, who are seeing massive potential in the new company and its services, to help update their own systems, policies and legislation.


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