The Hola Whitepaper

20 JUN 2021 (v1.4).

Disclaimer

This paper is not for inviting investors or for offering securities by any means in any legal jurisdiction.

Information contained in this paper and the whole document is not comprehensive.

Features of the project as implemented may differ based on regulatory approvals or other considerations, and may evolve over time.

 

No advice

This paper does not constitute any investment advice, financial advice, trading advice, or recommendation by Hola Coins.

 

Third-party data

This paper contains data and references obtained from third-party sources. Whilst the management believes that these data are accurate and reliable, they have not been subject to independent audit, verification, or analysis by any professional legal, accounting, engineering, or financial advisors. There is no assurance as to the accuracy, reliability, or completeness of the data.

 

Translations

This paper and related materials are issued in English. Any translation is for reference purposes only and is not certified by any person. No assurance can be made as to the accuracy and completeness of any translations. If there is any inconsistency between a translation and the English version of this paper, the English version shall prevail.

 

Restricted transmission

This paper must not be taken or transmitted to any jurisdiction where distribution or dissemination of this paper is prohibited or restricted.

 

Professional advice

You should consult a lawyer, accountant, tax professional, and/or any other professional advisors as necessary prior to determining whether to purchase or invest in Hola Coins.

1. Introduction

As the world becomes increasingly digital, cryptocurrency is the next natural step in the evolution of money. Satoshi Nakamoto's development of Bitcoin in 2009 has often been hailed as a radical development in money and currency, being the first example of a digital asset which simultaneously has no backing or intrinsic value and no centralized issuer or controller.
 
Bitcoin is unique because it does not rely on government/bank-created money. In addition, transactions occur directly between pseudonymous people (their real names are not known), meaning there are no banks or middlemen.
 
Each transaction is recorded on a digital record kept by many people across the world known as the “blockchain”. The data on the blockchain is publicly available and stored on many computers. Because there are so many copies being simultaneously maintained, the transaction and banking data is very safe and virtually impossible to manipulate.

Experts estimate today’s crypto market cap at more than 600 billion U.S. dollars, with over 9000 assets in existence. However, many are still left behind because the current crypto scenario requires lots of technical knowledge to configure and use, and also it's too risky. We like to change things. We are inventing solutions for the future of finance.

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2. The Hola Project

A Peer to Peer Financial Super App.
 

These days, most money is data. There's no reason it can't travel as cheaply and quickly as email. Banks are outdated, most e-money services charge a higher fee for international transfers, and also getting on-board is complicated. 

 

The Blockchain and cryptocurrency were meant to democratize money, but due to its highly complex nature, many even can't understand what it is. We are the bridge between Blockchain and People. We are building a more open, fair, and simple global financial system. So that people can go beyond.


 

Digital Banking 2.0

We keep things simple, one App for all.

  • Store money

  • Earn Interest

  • Borrow money

  • Send money

  • Global payments

  • Invest


 

Why we are better?

 

 

  • Simple
    Easy-to-use apps.
     

  • Instant
    Instant off-chain transfers.
     

  • Blockchain
    Secure and transparent.
     

  • Zero Transfer Fee
    No exchange rates and fees.
     

  • Peer to peer
    Fast, Safe, Straightforward, and Zero commission.
     

  • Rewards
    Earn reward points and enjoy even greater value.

3. The opportunity

Problem: Complexity 

Solution: The current crypto scenario requires lots of technical knowledge to configure and use. And we like to simplify things so that everyone can get involved in the crypto market. With Hola Coins mobile application, you can manage your hola coins most simply. All you need is a username and password.

 

Problem: Risk

Solution: Investing in crypto is risky because it is too volatile. But not anymore, with Hola Coins, you can reduce the risk associated with crypto investing. You can earn unbeatable rewards every time you use Hola Coins. This means you can earn free Hola Coins every day for every action, so the risk is minimal here and the earning potential is high.

 

Problem: Everyday use

Solution: Most cryptocurrencies are excluded from the retail cycle: people can not use their digital assets for everyday payments. Hola Coins offers an opportunity to enter the real world and bring cryptocurrency to everyday payments. We strive to make a digital payment ecosystem that is effortless, convenient and secured by blockchain technology. The Hola network provides world-class features to ensure our members are able to send and receive digital payments quickly, safely, and securely.

 

Problem: Middlemen

Solution: There are many ways to trade cryptocurrencies. The most common practice is to use centralized or decentralized exchanges or P2P trades. Most cases require a middle man to operate, this has many disadvantages such as not limited to;

 

  • Higher Network fee or Commission

  • Privacy Concerns

  • Slower transactions

  • Support

  • Security

Our built-in P2P service removes the unnecessary middlemen and allows members to buy and sell Hola Coins instantly with other buyers and sellers at zero fees without leaving the app. Making it easier, convenient, and safe. Also this way, you can shop around for the best price.

 

Problem: High transaction fee

Solution: Slow transaction times and big fees might now be a problem for many cryptocurrencies. Hola Off-chain transaction allows members to send Hola Coins at Zero transaction fees! This means you can send Hola Coins to Hola members for free instantly. No hidden fees. 

 

​Problem: Recovering

Solution: No seed phrase, no sweat. Having to remember a 64 character seed phrase or writing it down on a piece of paper at risk of losing all of your money is a huge barrier. With Hola Coins, you can easily recover your password, MPIN, or username. So you don't lose your funds in case you forget something.

 

​Problem: Support

Solution: When users of cryptocurrencies get stuck with anything on the platform or want to find out more about user features, they go straight to customer support contacts for advice or resolution of their issue. Adequate resources for customer support are something that’s definitely lacking within many cryptocurrency platforms, as too many growing exchanges don’t scale up their resources for the number of users they serve. 

Hola Coins strive to provide the best customer support. No “tech speak” or confusing steps. Our support team is here to help out no matter what.

 

Problem: Rewards

Solution: You can't easily win or earn rewards for using cryptocurrencies. Some platforms offer rewards or earnings on your crypto, but still, it's expensive and not enough. With Hola Coins financial freedom doesn’t come with a price tag. Everyone can have the opportunity to succeed financially. Get rewarded for every action such as;

✔️Signup Bonus

 

✔️Referral rewards

 

✔️Airdrops

 

✔️Daily Rewards

 

✔️Trade Commission

4. The Technology

The Hola Blockchain.
Decentralization | Hybrid | Faster | Secure

Blockchain technology has evolved tremendously over the past few years. The Hola Blockchain is a decentralized, programmable database designed for the future. At present we are in the development of ‘The Hola Blockchain’, and it will take some time. For the time being Hola Coins will exist on the Ethereum blockchain rather than a less developed/tested “altcoin” blockchain nor within closed source software running on centralized, private databases.

5. The People

Designed To Be Simple!

Crypto will make the future of money and the internet more open and fair. And it doesn't have to be confusing. The current crypto scenario requires lots of technical knowledge to configure and use. Crypto needs to be simple and secure in order for mass adoption to happen.
 
Hola Coins is designed for people and for everyday use. So it's fun and easy to learn and use Hola Coins. We strive to make a digital payment ecosystem that is effortless, convenient and secured by blockchain technology.


 

Vision

Our Vision is to facilitate a more accessible, more connected global financial system.

 

Company Background

When we founded our company in mid-2019, we decided to choose the United Kingdom will be our main base. We are planning to set up our main base in the UK at the end of 2021.

 

These are our main considerations;

  • A world-leading destination for investment

  • The United Kingdom is a major and globally recognized financial hub

  • Is open to the development of start-ups in the FinTech industry  

  • Deloitte ranks London as the top city worldwide for fintech

6. Token Overview

Name of Token

Hola Coins

Currency Code (Ticker)

HAC

Maximum Supply 

3000000000 HAC

 

Algorithm (Present)

ERC20 token on the Ethereum blockchain

 

Algorithm (Future)

The Hola Hybrid Blockchain

Primary Use Cases

Payments/ Shopping / Gaming

DApps Blockchain (Future)

The Hola Hybrid Blockchain

 

Initial Price

$ 0.003 (Sep-03-2019)

 

Wallet

Support any ERC20 Ethereum Token Wallets

Exclusive Hola wallet for special benefits


Token Allocation

HOLA Whitepaper Token allocation.png

7. Use Cases

​Invest

With the Hola Coins ecosystem, investors can achieve the best financial performance within a controlled risk framework. You can earn unbeatable rewards every time you use Hola Coins. This means you can earn free Hola Coins every day for every action, so the risk is minimal here and the earning potential is high.

 

Earn

Earn passive income with Hola Coins. Hola Rewards allows you to quickly and easily earn more HAC. You can earn rewards by;

 

  • Staking

  • Referral

  • Scratch cards - Coming soon!

  • Contests

  • Affiliate

  • Hola Games - Coming soon!


 

Send

No more confusing and long wallet address. Yes, send or receive Hola Coins as easily as a message to anyone, anywhere. Send anyone in the world with just their Hola Coins Wallet username. You can send Hola Coins to Hola members for free. No minimum balances, no hidden fees. 

 

Payments

We make it easy to use your HAC for online bills, shopping, and transfer between currencies, countries, friends, family, or employees. Pay with Hola Coins and earn rewards. Simple!

 

Borrow

Hola Crypto Credit is a loan designed to help members HODL. It is backed By Crypto, so members don't have to sell their Hola Coins to monetize them. Members can use their crypto-backed loans for personal purposes or to invest in a variety of different assets, including Hola Coins.

A provider's fee is charged on these crypto credits, and the fee is paid to the liquidity providers.

8. Roadmap

Segments

 ✔️  Personal payments

        Business Payments

         Payment Pages

         Invoicing

         Digital asset exchange

         Learning

         Gaming


 

Special

  ✔️  Simple

  ✔️  Instant

  ✔️  Peer to Peer

  ✔️  Zero Fees

         Instant Credit

         Buyer Protection

         Payment Tracking

         Instant Liquidity

         Marketplace
 

We are just scratching the surface, the to-do list is long...

9. Terminology

Block

Blocks contain the digital records of transactions. A complete block consists of the magic number, block size, block header, transaction counter, and transaction data.

 

HAC

HAC stands for Hola Coins.

 

Mobile app users

Registered users of the Hola Coins mobile application.

 

Hola Coins Community

Hola Coins Community refers to the people who joined in the Hola Coins network.

 

Hola Wallet

Hola Wallet is a new digital wallet exclusively for the Hola Coins payment system, which offers unbeatable rewards for Hola Coins members.

 

Hola Coins Staking Program

You don’t have to sell your Hola Coins to cash in on it. By staking your hola coins, you let them work for you and increase your earnings while they’re sitting in your account. You can earn up to 9.5% monthly*.

 

Referral rewards

Referral rewards refer to free reward HAC for inviting new people to the Hola Coins community. 

 

Airdrops

Airdrop stands for free crypto tokens, which users can earn by doing simple tasks.

 

Securing Distributed Ledgers (Mining)

One of the challenges of maintaining a distributed record of transactions is security -- specifically, how to have an open and editable ledger while preventing fraudulent activity. To address this challenge, Bitcoin introduced a novel process called Mining (using the consensus algorithm “Proof of Work”) to determine who is “trusted” to make updates to the shared record of transactions.

 

Token Background

We are in the development of ‘The Hola Blockchain’, and it will take some time. For the time being Hola Coins will exist on the Ethereum blockchain rather than a less developed/tested “altcoin” blockchain nor within closed source software running on centralized, private databases.

 

ERC-20 Tokens

ERC-20 Tokens are used on the Ethereum blockchain. They follow a list of standards so that they can be shared or exchanged for other coins on global exchanges, or stored in an Ethereum-compatible crypto wallet. Ethereum-based tokens are hence some of the most accessible and applicable cryptocurrencies that exist today.

10. Conclusion

For everyone, for everything.
The world’s banking systems weren’t designed for people without borders. That’s why we’re building a more open, fair, and simple global financial system. We are on the development of the next-gen global payment ecosystem based on blockchain technology. Join the fastest-growing crypto community and help us to build the next-gen global payment ecosystem, which will break down the barriers and open new doors.

 

We cannot know the future, but we are glad to be trying to make it a better one for everyone. 

IMPORTANT NOTICE
 

IF YOU ARE IN ANY DOUBT AS TO THE ACTION YOU SHOULD TAKE, YOU SHOULD CONSULT YOUR LEGAL, FINANCIAL, TAX OR OTHER PROFESSIONAL ADVISOR(S).

  • The Hola tokens(Coins) are not intended to constitute securities in any jurisdiction.

     

  • In the event of any inconsistencies between the T&Cs and this paper, the former shall prevail.

     

  • No regulatory authority has examined or approved of any of the information set out in this paper. No such action has been or will be taken under the laws, regulatory requirements, or rules of any jurisdiction.

     
     

DISCLAIMER OF LIABILITY

To the maximum extent permitted by the applicable laws, regulations and rules, Hola and/or the Distributor shall not be liable for any indirect, special, incidental, consequential or other losses of any kind, in tort, contract or otherwise (including but not limited to loss of revenue, income or profits, and loss of use or data), arising out of or in connection with any acceptance of or reliance on this paper or any part thereof by you. 

 

 

RISKS AND UNCERTAINTIES

Prospective purchasers of Hola tokens (as referred to in this paper) should carefully consider and evaluate all risks and uncertainties associated with Hola Coins.

We understand that our implementation doesn’t immediately create a fully trustworthy cryptocurrency system. Almost all exchanges and wallets are subject to the same weaknesses. Users of these services are already subject to these risks. Here is a summary of the weaknesses;

  • We could go bankrupt

  • Our bank could go insolvent

  • Our bank could freeze or confiscate the funds

  • Re­centralized of risk to a single point of failure

Observe that almost all digital currency exchanges and wallets already face many of these challenges. Therefore, users of these services are already subject to these risks.

 

We remain fully committed to our mission and are eager to begin delivering on it.