LACCOIN (LAC) is an Ethereum backed cryptocurrency that enables the banked, unbanked and underbanked individuals who are in Latin America and Caribbean region to send money, invest and send micro-loans to each other with their mobile wallet or web app. Combined with their LAC debit card and access to the LAC Index Fund individuals can spend their LAC tokens, invest or use their P2P loans that connect with their LAC wallets where every VISA or MasterCard is accepted.
Our vision is to create a viable ecosystem for monetary transactions which will be a viable alternative to the existing banking system.
Laccoin is an Ethereum-backed cryptocurrency that uses a mobile wallet. Individual users will have the option of exchanging their cryptocurrencies and LAC tokens with one another through their mobile wallet or of spending their LAC tokens or other cryptocurrencies through their Laccoin prepaid debit card. The scope and range of Laccoin will make it the first cryptocurrency or token to bring Latin America and the Caribbean under a single monetary jurisdiction. Laccoin wallet will be available for download via IOS or the Android marketplace. With the use of the LAC card, ndividuals and businesses will be able to operate in the new Latin American and Caribbean digital economy from their mobile device. However, the full benefits of Laccoin will only be apparent once a person can use the token in the same way that he uses other fiat currencies or fiat back debit cards for everyday payments. Our intention is not to go head-to-head with the traditional banking services but to ease the burdens of individuals and businesses that do not have easy access to traditional banking services in the LAC region.
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ICO advisor|Crypto-asset and ICO investor| Libertarian|CEO of Block Venture Project Rated on Aug 31, 2018 Modified on Aug 31, 2018
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Team - none of core team or advisers have project listed on their LinkedIn profiles. KYC passed by 2 of core team, but still a red flag.
Vision - not an original vision - banking the unbanked - but well thought out on location (good proliferation of tech and infrastructure in place) but does this project actually solve any issues that haven't already been solved? It brings together all solutions under 1 roof, but these solutions already exist in 1 way or another. Project uses Ethereum blockchain, so questions on whether it can handle the transaction rate needed for a day to day currency. The core issue for me is, does a potentially volatile cryptocurrency solve the issue of hyperinflation that the target market has suffered from? Potentially not. I think a project like this would work better if the currency was pegged to USD or IMF SDRs. But that's just my opinion. WP needs more info on how funds will be spent on different levels of raise. Can't get past chapter 8 on WP without it crashing. 2 until they produce a format that's fully readable.
Product - doesn't appear to be an MVP available.
This project appears to be more of an exercise in marketing as opposed to a technological or economic advancement, but good look to the team in project initiation.
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