2Local is a new decentralized platform that aims to help local MSMEs and businesses. It has joined forces with Agora, the popular blockchain project. Agora links international companies to the Arab and African markets and 2Local aims to use Agora’s expertise in these markets to expand its services.

Core problems in our present time, such as inequality in the world, ever-increasing damage to the environment and nature, energy and climate crises (EU Commissioner Frans Timmermans speaks of a ‘jumble of crisis’), are very closely related to the current financial-economic system of the western neoliberal world. This dangerous trend, which is perpetuated by large, internationally-operating banks and multinationals, must be stopped. It is necessary to create a new economic, financial, and social system that is oriented towards the local. This turnaround can be achieved with innovative blockchain-based applications. 2local wants the creation and consumption of sustainable and local products and services to be stimulated by using crypto coins (2-Local, 2LC) based on Blockchain technology. It also offers a variety of crypto-related products and a cashback program. It is simple to pay with digital 2LC coins. The cashback system ensures that everyone can access the funds, even those who don’t have much. The 2local initiative is unique in that it combines the values ​​of local cultures with advanced blockchain technology and shares its wealth.

In the new 2local system, economic transactions no longer take place indirectly via the long global chains of today’s multinationals, but directly via sustainable and local transactions between producers and consumers. International chains of multinationals, companies that sell online, shops selling at home, as well as webshops, are built on the principles of lean production, global sourcing, low stocks, little buffers, short-term counts, and no buffers. This is because these large corporations have no roots in their local communities and they are solely focused on efficiency and reducing costs. Customers and employees are always first. These long-standing international chains are extremely vulnerable. This was evident in the Covid-19 crises. It has resulted in an increase of inequality, poverty, hunger, and environmental degradation in many countries.

These negative economic effects on the environment and people can be avoided by buying and selling locally. Local cooperation is key to a more sustainable and prosperous world. 2local is a platform that facilitates local cooperation between producers/consumers and other initiatives within the region. All regional stakeholders must work together to create local, sustainable projects. Local communities may find themselves in a difficult economic environment, with reduced social cohesion and decreased sustainability. There are many advantages to buying locally: Small businesses which bring energy and innovation to the area become more sustainable. In regions, local initiatives are a way to create healthy and vibrant communities. For example, local production requires less travel and more attention to services that are performed by local labor. Money does not go to large banks or multinational corporations, it circulates in the local regions. This ‘multiplier effect’ ensures that local spending has an extra effect on the resilience of the local economy, because the money in the region is earned and spent more often. The cashback program has a positive impact on everyone in the area, even those with lower purchasing power. The same 2LC coin system is used in all countries around the world, and this creates global connections that benefit humanity. This promotes local social cohesion and provides substance and meaning to connections between countries around the globe.

Financial transactions will no longer be conducted centrally through the international banking system. Instead, they are performed via a decentralized system (DeFi) in the 2local system. Financial sector dominates the economy. The large international banks are privately-owned companies that make money from the citizens’ and businesses’ debts. However, money creation should be a public function. These tensions can often lead to crises. In interest, debts can be taxed. Both interest and debt must be paid back. The system will only be able to survive in an economy that is growing with constant depreciation. But, constant economic growth is impossible in an ever-changing world without crashes. These practices and mechanisms often lead to corruption and greenwashing.

We avoid unnecessary, unfavorable centralized financial developments that can harm people and the environment by using 2LC cryptocurrency coins. 2local operates with its own cryptocurrency, which is based on blockchain technology. Mutual payments are made easy, cheaply, digitally, quickly and internationally with this decentralized currency. The 2LC cryptocurrency will be used to fund local infrastructures. Local activities can be linked to the entire world with this new cryptocurrency. They will benefit from proximity, sustainable local transportation, and improved control options through short chains. We reduce the power of the major banks and remove their monopoly by using the 2LC cryptocurrency coins. They are not necessary in today’s society.

2local makes use of blockchain technology. The blockchain blocks are secured by mining. To verify and validate transactions, the blockchain uses mining. The mining of cryptocurrency, like, takes a lot of electricity. 2local relies on Binance to validate its consensus system. This helps avoid large amounts of energy. 2local has a goal to maintain low costs to ensure that the cashback system is as accessible as possible. 2local has made it possible to charge minimal fees to all users who use 2LC coins. They also make use of crypto-related products like Trading Pools, Staking Pools, Yield Farming, and Trading Pools in order generate cashback benefits. 2LC Coin is suitable to settle local transactions and not hoarding or speculating. 2local‘s buying and selling policy aims for a steadily increasing rate. You can purchase 2LC online or through the mobile app. 2local and through other exchanges such as Bitrue or LATOKEN. ExMarkets and P2PB2B.

The 2local initiative is vital for everyone to benefit. The cashback compensates those in financial hardship who purchase local products. In 2LC, cashback is automatically sent to consumers once a month. This stimulates everyone’s involvement in the local economy and will increase sustainability and prosperity in the world.

2local supports local, sustainable initiatives through the creation of a digital Marketplace that allows producers and customers to meet. You can search the Marketplace for companies connected using many filters. These companies work sustainably, locally to local. Register your company on 2local to become connected. The agreement stipulates that both the raw materials and the products are produced in the local area and without the use of child labour. A Smart Contract is used to conclude a purchase/sales contract that contains the above statements when a product/service has been sold. The Marketplace is open to all connected companies. These companies get to share the profits of crypto-related products, as well as free advertising and more customers. The Marketplace will redirect to the Connected Company’s own website, where the products can be purchased with 2LC tokens. All amounts in local currency are converted to 2LC using the current exchange rate. It is a move towards localized, smaller production and distribution.

In 20 countries, 2local initiatives are now in place to connect businesses with consumers and create new opportunities for them. 2local is all about connecting users/consumers with connected businesses/producers. Local cooperation is important, as are local communities and their cultures. This includes countries not only from Europe, but also countries from Brazil, Chile and South Africa. Each country has a representative who connects local sustainable businesses to consumers. This is the point of contact. They assist the Connected Company by answering any questions and registering them on 2local.

The solution from the ‘Jumble of crises’ will not come from the government or from the large companies and banks. It is up to us to do the work. You have to create the world. Together with the 2local platform, take control of your destiny. Companies and individuals who want to invest digital assets or parties looking to create equity are welcome. Find out more information about 2local at 2local.io

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Media Contact

Company: 2localContact: Antony ChangE-mail: info@2local.io

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