Short Description: 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.
Category: Tokens Cryptocurrency
Combined with their LAC debitcard 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. LAC vision is to create a viable ecosystem for monetary transactions which will be a viable alternative to the existing banking system.
A. Problem(s): Costly remittance system
Solutions: Laccoin is an easy way to send international remittances to other Laccoin wallet holders.
B. Problem(s): Reaching the Underbanked
Solution(s):Access to current banking services and the new cryptocurrency card payments system through the use of mobile devices which will result in a more significant penetration rate than banks.
C. Problem(s): International and domestic aid to LAC region
Solution(s): The speed of aid is essential in critical situations. With widespread mobile penetration, aid can be received efficiently.
D. Problem(s): Inability to invest or spend within the LAC region
Solution(s): To enable and empower citizens in the area to become a part of the new digital economy through the use of LAC tokens within the LAC region.
E. Problem(s): Inability to access loans through traditional financing mechanisms to start business projects or personal projects.
Solution(s): To enable and empower citizens in the region to access micro-finance through nontraditional means by creating a credit score through their Laccoin wallet.
F. Problem(s): Unbanked and underbanked do not have access to complex financial vehicles to help build wealth.
Solution(s): A Union Wealth Fund will be open solely to LAC token holders. The Index Fund will hold highly liquid cryptocurrencies that are managed to ensure a robust portfolio that meets the needs of LAC ecosystem.