How the 2local system works in practice
2local is a network community with the aim of stimulating the production and consumption of local and sustainable products and services by working with crypto coins, based on blockchain technology, and a cashback system.
Local and sustainable production is becoming increasingly important, partly due to the growing power and global behaviour of multinationals. The cryptocurrency market is becoming increasingly important, partly due to the economic disadvantages of the current financial system. A cashback system will make local and sustainable products more affordable for more people. Covid-19 pandemic and the rapid global spread of the virus make this international entanglement of multinationals and the financial system even more clear and a transformation to a new system the more urgent.
The Platform ‘2local’ (https://2local.io/) wants to stimulate local cooperation of producers, consumers and logistics service providers worldwide. A trial period is in preparation. It will be easy to find each other via the Marketplace in the Android app: https://play.google.com/store/apps/details?id=two.local.io and iOS app: https://apps.apple.com/us/app/2local/id1456457841 Mutual payments are made easy via the digital currency system (L2L tokens based on blockchain), which is linked with a monthly cashback.
Producers and consumers are in control and together they ensure greater sustainability and prosperity. There are three targets in the product flow from producer to consumer. where initiatives can arise: producers, consumers or intermediaries. Below is briefly explained how the 2local system will work in practice.
Anyone who wants to pay with L2L tokens must first register at 2local. This is possible via the 2local website. An account can be created via the 2local website, after which you can log in to the 2local app. 2local tokens can be purchased on the website as well as in the app, the minimum amount is € 2.50. You can purchase via PayPal and/or via cryptocurrencies. It is also possible to pay by generating and scanning a QR code. No transfer costs will be charged. Amounts can be entered in Euro. During the trial period, participants can exchange the L2L tokens for Euros at 2local again, at the same rate. The L2L token is expected to be tradable on the exchange at the end of 2020. Here you can exchange the L2L token and that can also be done directly in the 2local app. The amount of the monthly cashback depends on the affiliated company and will be indicated there. This can also be seen in the Marketplace of the 2local website.
Producers are listed in the Marketplace of the 2local website and through a click they are connected to their own website, where they can offer products with a price in L2L If the producers produce locally and sustainably and they want consumers to benefit from the cashback they fill in a short questionnaire on the 2local website and when approved as a affiliated company by 2local, they receive a mention as ‘connected company’. The producers are easy to find on the Marketplace. Consumers can search for businesses in their area and at the same time they can see if the company has a ‘connected company’ listing. Producers can already mention on their own website that potential buyers can buy the L2Ls at 2local. For example, the producer can offer a kilo of beef for 75 L2L. You can pay with your mobile. The customer uses the Wallet number of the producer. The producer forwards this directly to the consumer when ordering. It is also possible to scan a QR code to make the process even faster. The producer informs where the consumer can pick up his products. This can be with the producer himself, at a collection point, for example a CSA, or it can be delivered by the producer himself or by a logistics participant. The producer may request an additional amount for delivery. The producer must explain all this on his website.
With the L2Ls received, the producer can also buy products and services from other affiliated companies and when he buys from ‘connected companies’ he also receives a monthly cashback. He can also use it to pay for services provided to him, for example by employees, if they accept it.
Consumers can search on the 2local website for companies in their area that participate in the 2local system. They can immediately see whether the company has a ‘connected company’ listing. They can then click to get to the website of the companies where they want to buy products or services. When they place an order, they can pay it with L2Ls via their phone. When placing the order, they immediately receive the Wallet number of the company where they placed the order. If the company where the order was placed has a ‘connected company’ listing, these consumers will receive cash back in L2Ls once a month. That cashback is automatically credited to their Wallet. This is part of the checkout process. This is explained exactly on the website.
Logistic intermediaries can also register with 2local and request a listing as a ‘connected company’. They can also offer products and services on their own website and rate them in L2Ls. Logistics service providers can also use the L2Ls to buy from other companies and if they buy from affiliated ‘connected companies’ they also receive a monthly cashback. They can also pay for services provided to them, for example by workers, if they accept it.
Currently a test phase is in preparation. After this trial, students of the University of Applied Sciences Windesheim will evaluate the functioning of the 2local system and will make recommendations on how to roll it out further, not only in the Netherlands, but worldwide.
12 June 2020