2local: Abbreviated Introduction
2local B.V., registered in the Netherlands, is developing 2local, a loyalty program application including a cryptocurrency, L2L tokens. 2local has built a mobile wallet that facilitates transactions between users within the blockchain. The app distributes monthly cashback of 1% to customers for every purchase made with L2L, and includes a marketplace that aims to connect consumers with neighbouring companies that produce sustainable goods and services. There are a few instances of inconsistencies between the information that the team presents on their website and whitepaper.
2local features a team of 20 team members, eight developers and four ICO advisors. This is considered a large group for a blockchain start-up project. The majority of the team members have decades of experience in fields related to the project, i.e. I.T., Blockchain, sustainability, entrepreneurship, and others. There is no evidence of any of them participating in any illegitimate, controversial or legally troubled projects in the past. There is a clear skill gap within the team when it comes to working with organisations such as government agencies, international agencies, and social programs that may add value due to the nature of the project. Some team members are listed on the projects’ website but not in the whitepaper and vice versa.
In terms of technology, presents more conflicting information regarding its blockchain platform of choice. These conflicting mentions quote their token to be on the Stellar network, an ERC 721 token (Ethereum token), or using Trons’ blockchain. None of our researchers has been able to create an account on the mobile application for the project or log into it.
2local aims to raise $8.5 billion through token sales. The total supply of L2L tokens is 20.000.000.000 (20 Billion), and the Initial Circulating Supply is 54% of the Total Supply, which amounts to 10.800.000.000 (10,8 Billion).
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