5.9.2 Settlement of account business operator

The settlement of account business operator is an additional business operator who provides flexibility to the settlement of account of LEMC by playing the role of converting legal currency to LEMC token or vice versa, or filling in the gap between the times of the settlement of account and actual payment in accordance with the request by the participants. If the format that user wants to use for payment and the format the participant wants for collection of payment differ, the user can make request to resolve such difference by selecting a settlement of account business operator. For example, if user wants to use credit card and the service provider wants to be paid with LEMC token, the settlement of account business operator selected will receive payment for the settlement of account with credit card and then pay the service provider with token at the time of payment.

Conversion rate and fees thereof are decided by each settlement of account business operator and the participant can choose the settlement of account business operator based on these informaiton.

The settlement of account business operator will generate profit by collecting fees for the settlement of account and profit trading through utilization of the difference in the payment between the time of settlement of account and the actual time of payment. Given the characteristic that substantial time is required for the offline visit to medical institute, etc., there could be substantial difference between the time of the settlement of account and the actual time of payment, thereby generating profit model based on diversified financial techniques founded on such difference. It is anticipated that this will give birth to diversified business models in efficient settlement of account formats appropriate for the needs of the participants.