LIFEwallet and LIFEcards About to Be Released

LIFEwallet and the first LIFEcards should be released to the public in April 2018
28 March 2018   945

LIFE is digital cash,  which functions as a reward system for large businesses, charities, communities and innovation projects. It can be bought, sold and traded like shares or can be used to purchase items from a growing number of retailers.

According to the roadmap of LIFE, LIFEwallet and the first LIFEcards should be released to the public in April 2018. The users will be able to utilize LIFEwallet online portal or mobile application to convert their preferred cryptocurrency to an equivalent prepaid balance on the LIFEcard in seconds. LIFEcard is a prepaid card, and while there are strict identity verification checks, there will be no credit checks or credit limits.

Life cards samples cryptoLIFE cards samples

According to the website of LIFE, LIFEwallet is being developed alongside LIFEcard as an integrated companion application, and a crytocurrency wallet in its own right, but the further details will be announced separately.

As for the future plans of LIFE, May 2018 will be marked by first LIFE conference in London, and Cryptosaurus will adopt LIFE as a payment method, and the Stage 2 of LIFE adopters will be announced in June, 2018.

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Bermuda to Issue First ICO License

The first 'official' ICO that will be held at Bermuda is Uulala
19 October 2018   63

Bermuda’s Minister of National Security, Wayne Caines, said that the Uulala fintech company received the first ICO license in the region. It is reported by the Royal Gazette.

In July, the Secretary of the Treasury of the Overseas Territory of Great Britain, David Bert, introduced new regulations for fintech products and services. The bill classifies initial coin offers (ICO) as “limited business activities”.

The draft law also states that before holding a tokensals, companies must provide information about the proposed digital assets, the financing system, the amount to be raised and various technical aspects. In addition, you must obtain consent from the Minister of Finance of the region.

The CEO of Uulala, Oscar Garcia, reported that the process of obtaining a license took four months. Fintech offers a decentralized peer-to-peer network “to attract cash into the digital economy.” During the ICO, Uulala plans to raise $ 50 million.

We are looking at operating from Bermuda. The Bacardi story resonated with us — a group of Cuban Latinos who went to Bermuda and established their headquarters there. We are looking at doing something similar. Bermuda is known as a financial hub and it is very forward-thinking on blockchain and fintech.

Oscar Garcia

CEO, Uulala

The government of Bermuda began to develop bills for the legalization of the ICO in March. Then David Bert said that Bermuda could be an example for other countries in the field of ICO regulation.