life · 2015 caf (charities aid foundation) published a series of papers entitled ‘giving...

LIFE

LIFElabs: a decentralised array of Blockchain services, bridging traditional

payments and loyalty rewards with social organisations in the philanthropic sector,

underpinned by a long-term strategic, digital currency with ethical foundations,

accessible to all.

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1Confidential Copyright © LIFElabs.io ™ 2018

Introduction

A Note of Thanks

LIFElabs reserves the right to alter the content of this paper at any time, therefore the content and subject matter is tentative. A

current view of the company’s development road map can be found at LIFElabs.io. The content of this white paper is high level and

strategic, reflecting the overall focus of the company and its vision.

The content herein is not a prospectus, soliciting investment of any kind and should not be interpreted as accounting or the

representation of a financial instrument. Any references to digital currency should be construed as a reflection of the utility of

Blockchain and ERC-20 tokens in the respect of transactions. This white paper is written to inform interested parties of a forthcoming

platform as a service (PaaS) or software based ecosystem, which is equable to a suite of products which interlink to achieve a

common goal.

Loosely explained (and it will be better defined in the following pages) Blockchain is a revolution in decentralised internet technology.

I have always viewed it as a good disruptor in the challenge of the world and its many communities pursuing sustainable

globalisation. Blockchain has been widely adopted by many companies, the Ethereum Enterprise Alliance is proof enough of this but

mainstream adoption is still yet to come.

Blockchain has emerged from the shadows of the Internet, lending caution to some, but this revolution in data management has

arrived to enlighten us all in data transparency and security. Every advancement in technology brings opportunities to the brave: our

early philanthropic partners and loyalty reward customers have embraced the revolution of Blockchain with LIFELabs, allowing us to

paint the future of our ethical platform and products. To all of you, the team and community of LIFE owe you their thanks.

Disclaimer

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The utility of Blockchain makes a compelling opportunity for an inclusive society, redefining economic prosperity, unlocking

uncertainty, and jumpstarting regenerative cycles in the digital age.

Here at LIFElabs we are embracing the paradigm shift that Blockchain represents and have created LIFEtoken (a digital currency) on

the Ethereum Blockchain. Moving away from traditional depleting economic and social organisation models, we will encourage a

more positive dynamic for individuals, communities, their local economies and the environment and the social organisations that

strive to make a difference across the globe. LIFElabs is building an ecosystem for digital currencies to be accessible to all but also a

multifaceted platform for social organisations to adopt Blockchain technology to support their own projects.

The technology of Blockchain is challenging for some to conceptualise and thought provoking in its reach across multiple sectors.

Defined by trust and transparency in an age of digital transactions, Blockchain has made it unnecessary for a centralised authority to

verify and clear transactions but has also made it possible to track money transfers, reducing uncertainty on leverage or the tracking

of goods in traditional supply chains. Blockchain embodies globalisation in our times, a far-reaching technology available to all; the

seen and unseen across the world.

LIFElabs is a world-first in the emerging Blockchain sector. We have ring-fenced 30 billion tokens of our supply (almost one third of

the total supply) for good causes. We are also underpinning the utility of this philanthropic-focused digital currency supply with a

platform of Blockchain services that will enable adopters, ranging from individuals to businesses, to benefit from the Blockchain

revolution.

The barriers to many social organisations adopting a new technology, or new technologies, are high, and Blockchain is no different in

this respect. That is why at LIFElabs we are going to create a PaaS (Platform as a Service) for social organisations to adopt, at no cost,

to fulfil their own needs; whether to drive forward-thinking innovation, restore trust, or operate transparently in supply- or project-

funded scenarios.

By adopting LIFEtoken (or LIFELabs services) any individual or organisation can make a difference by virtue of adopting LIFEtoken for

rewards, transactions, or as a store of digital wealth: anyone can join our ethical revolution.

Abstract

Introduction

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Table of Contents

Part 1

Part 2

Intro

About Blockchain

LIFElabs and Blockchain

Core Concepts

LIFElabs Steps to Success

The Team

LIFEPaaS

LIFElabs.io Product Wheel

LIFEtoken and Supply

LIFElabs.io Roadmap

LIFEtoken

LIFEapp

Loyalty Rewards

Merchant Gateway

LIFEcard

4

5

6

7

8 - 9

10 - 11

12

13

14

15

16 - 19

20 - 23

24

25

The Philanthropic Sector

Blockchain and Philanthropy

PaaS for Philanthropy

LIFEvault

Closing Statement

Disclaimer / A Note of Thanks

Abstract

Table of Contents

26

27 - 30

31 - 32

33

34

1

2

3

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About Blockchain

AMY RECEIVES LIFEtoken

Amy receives her LIFEtoken and is able to buy her groceries and redeem her rewards in LIFEtoken.

5

BLOCK ADDED TO BLOCKCHAIN

The new block is added to the ledger or the Blockchain. The remaining blocks are updated and are immutable and cannot

be changed.

4

TRANSACTION ADDED TO THE NEW BLOCK

The validated transaction is added to the next block.

3

TRANSACTION VALIDATED

The transaction is sent to a series of computers or ‘mining

nodes’ which validates the transactions.

2

JULIAN SENDS LIFEtoken

Julian wants to send some LIFEtoken to Amy so she can buy groceries.

1

The simplest description of Blockchain is that it is a public ledger, decentralised and distributed globally. The ledger is not owned by

any one individual, but rather it is best described as having curators who maintain the ledger by performing the complex

mathematical computations that ensure its security, related to cryptography.

This contribution rewards the curators differently depending on which Blockchain is being used. The Ethereum blockchain upon

which LIFEtoken is built, classifies digital currencies such as LIFE as ERC20 tokens. Transacting tokens requires fractional amounts of

Ethereum used as ‘gas’ to fuel the transaction. The Ethereum Blockchain allows programmers to create better solutions (using smart

contracts for example) for today’s digital technology revolution. LIFElabs will use this technology to focus upon loyalty reward

program problems.

In the context loyalty rewards Blockchain technology creates transaction records shared across a network of computers. Every

transaction creates a new block of information for every token transacted. These blocks of information are chained to previous

blocks, which are then shared across a network of nodes on the blockchain. This concept coined the term ‘Blockchain’. Loyalty

reward points based on blockchain are easy to track, trace and have a transparent value and even higher levels of utility for the

consumer.

What is Blockchain and How Does it Work?

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R

A Brief History of LIFElabs and the Evolution of Philanthropy and Blockchain.

LIFElabs and Blockchain

The concept of distributed computing is born

1990’s

Nick Szabo coins the term “smart contract”

1994

Satoshi Nakamoto introduced the Bitcoin and Blockchain whitepaper

2008

The first Bitcoin transaction is made on block #170

2009

First real world transaction with Bitcoin - 10,000BTC for two Papa

John’s pizzas

2010

British charity The RNLI accepts first Bitcoin donation

2014

Launch of Ethereum Blockchain created by Vitalik Buterin

2015

*World food programme (WFP) deploys Blockchain inside

Jordanian refugee camp.

2015

CAF (Charities Aid Foundation) published a series of

papers entitled ‘Giving Unchained - Philanthropy and

the Blockchain’

2015

LIFElabs.io is born

2016

Cryptocurrency market cap reaches $300BN

2017

LIFE joins the EEA (Ethereum Enterprise Alliance)

2017 (July)

LIFE lists on hitBTC, a global digital exchange

2017 (October)

CAF hold a Philanthropy and Blockchain conference

2017 (December)

Cryptocurrency market cap reaches all time high of $830BN

2018 (January)

**Irish Red Cross utilise Blockchain to track donations.

2018 (January)

LIFE donates to charities including; the Royal Marsden Cancer

Charity, Caudwell Children, Chain of Hope, L.A Heart Foundation,

Surfers Against Sewage

2018 (April)

LIFE partners with the PGA European Tour as the first ever

cryptocurrency in this field

2018 (May)

Launch of revised white paper and release of the digital LIFEwallet on

Apple iOS application platform

2018 (August)

LIFElabs.io

Blockchain

Philanthropy

*https://www.technologyreview.com/s/610806/inside-the-jordan-refugee-camp-that-runs-on-blockchain/**https://www.accaglobal.com/an/en/member/member/accounting-business/2018/05/corporate/charitable-donations.html

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The Technology that Underpins the LIFE Ecosystem

Core Concepts

Each party on a Blockchain has access to the entire database and its complete history. No single party controls the data or

the information. Every party can verify the records of its transaction partners directly, without an intermediary.

Distributed Database1

Communication occurs directly between peers instead of through a central node. Each node stores and forwards

information to all other nodes.

Peer-to-Peer Transmission2

Every transaction and its associated value are visible to anyone with access to the ledger. Each user can generate an

infinite number of addresses. Users can choose to remain anonymous or provide proof of their identity to others.

Transactions occur between Blockchain addresses.

Transparency with Security3

Once a transaction is entered into the Blockchain and the blocks are updated, the records cannot be altered because

they’re linked to every transaction record that came before them (hence the term “chain”).

Irreversibility of Records4

The digital nature of the ledger means that Blockchain transactions can be tied to computational logic and, in essence,

programmed; so users can set up algorithms and rules that automatically trigger transactions between nodes.

Computational Logic (Smart Contracts)5

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1

2

3

4

5

6

Identified key heavily fragmented markets ripe for disruption and consolidation - international remittance $400BN loyalty rewards

market worth $500bn by 2019 and philanthropy donations of $400bn - all non profit revenue exceeded $2 trillion dollars in the US alone.

NGO’s, SME’s and SMB’s spanning both sectors can achieve significant customer retention and ROI by adopting Blockchain technology in their

business processes.

Avoid engaging with partners with long lead times or barriers to technology adoption and identify key stakeholders with a user base

demographic for entry-level into Blockchain.

Work with innovative social organisations disrupting the status quo anywhere in the world - identify and keep these long-term

beneficieries of the ring-fenced LIFEtoken supply.

Continue to invest in building the global brand, bridging customers, businesses, and social organisations across the globe with a tactical,

multi-faceted marketing campaign, while growing technologically and in-pace with regulation across trade regions.

Focus on traditional valuation metrics, and traction and trading volumes in LIFEtoken increase, allowing the ring-fenced LIFEtoken to be replensished and early adopters to hedge for long-term cyclical

growth.

IDENTIFY THEPOTENTIAL

TARGET THE OPPORTUNITY

GOOD DISRUPTORS

BUILD THE BRAND, BE ATTRACTIVE

SUCCESS

SCALE FOR GROWTH AND REVENUE

RETAIN FOCUS

Why LIFE? What Makes Us Set For Success?

LIFElabs Steps to SuccessR

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Our Ever-Growing Team at LIFElabs.

The Team at LIFElabs.ioR

Sanjay has 18+ years of experience as a technology leader, with an extensive career record in stakeholder satisfaction and team

building in a DevOps culture. A result-oriented visionary with an entrepreneurial outlook, he has a fantastic reputation for leading and

maximising cutting-edge technologies and is an advocate for disruptive innovation techniques.

David has 25 years of experience as a brand advertising consultant and creative strategy architect, spending nearly 10 years at

Microsoft as their Global Creative Strategy Director. His focus at LIFElabs surrounds the successful storytelling and evolution of the

company’s marketing messaging across global customer communication platforms.

Alvaro is a senior software engineer with over 8 years of experience, he has previously worked with different companies from large

corporates to small tech start-ups. Alvaro is sometimes referred to as the ‘swiss army knife’ due to his ability to thrive in almost any

situation whether it be an unfamilar programming language, creative decision or business operation.

CTO

Sanjay Jadhav

Global VP of Brand

David Pugh-Jones

Senior Full Stack Engineer

Alvaro Jimenez

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Community Manager

Anwar AliAdvisor

Sam Volkering

Co-founder

Jonathan Bushnell

Co-founder

Alistair HammondCo-founder

James BirdCo-founder

Karl Higbee

Co-founder

Iain Stewart-Bridges

Head of Operations

Nikki Woods Technical Operations Support

Simon IngelbrechtUX / UI & Front End Developer

Julian Harrison

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</>

ADOPTER / CONSUMER BUSINESS

CODE BASE

LIFE PRIVATE CLOUD

END USER

ETHEREUM BLOCKCHAIN

CRYPTOCURRENCY EXCHANGE

FIAT NETWORK

API

APIAPI

ScalableSecure

Multi-regionalDigital walletStore assets

Blockchain nodes

Exchange cryptocurrencyDiversify cryptocurrency holdings

Proof of workUnderwrite LIFE transactions

BuildingTesting

Deployment

Secure client interfacesEveryday user

InvestorCrypto enthusiast

BanksCards

Digital cash

RewardRedeem

Philanthropic

The LIFElabs Ecosystem

LIFE Platform as a ServiceR

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At its core, LIFE embraces digital transactions by providing a wallet to hold digital currencies, a loyalty reward provision with e-

commerce plug ins, and the ability to exchange digital currencies. These services are all powered by the Ethereum Blockchain, a

trusted and heavily-adopted Blockchain – known to some as a ‘global computer’.

The secondary objective of LIFElabs is to build a platform as a service (PaaS) for the philanthropic sector to access the utility of

Blockchain to further their respective causes. Services in this platform include tracking and pooling – the ability of social

organisations to enforce trust with donors and deliver their message to an ethically-minded audience in a trusted platform.

This architecture supports product development. Our product wheel (on the next page) reflects the various stages of product

development. Product development is ordered in strategic importance to growth – initially, the first element is the LIFEwallet.

Why is this important? LIFEwallet allows you to store, access and transfer digital currencies. Featured here in the centre, our wallet

is designed to be accessible to all, with the perfect balance of usability and security for users.

The Ecosystem Explained

LIFElabs Platform as a ServiceR

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Loyaltyreward

Wallet iOS

Exchange Card

Consultancy

LIFEvault Smart contracts

Revenuestreams

SaaS

PaaS

LIFE crowdsourcing

Supplychain

Voting

Merchantgateway

30BN 70BN

TOKEN SUPPLY

2018

2017

2019

2020

PHILANTHROPY PRIVATE SECTOR

The LIFE product wheel: phased development approach. The following pages will discuss each product and its relative market and

features in more detail. Each section forms part of the wider platform, and no one section is independent of another in its entirety.

The Ecosystem Explained

LIFElabs Product Wheel

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= 1BN LIFE

Token Supply100BN

Employees

Founders

Reserve

Circulating Supply

Philanthropic Causes

Adopters

Merchant Gateway

13BN

3BN

30BN16BN

23BN

10BN

5BN

X 2 X 10

The total supply of LIFEtoken is 100bn. The circulating supply reflects how much liquidity there is in the market; this is important to

consider from the aspects of volatility and accessibility on digital currency exchanges worldwide. For some, LIFEtoken will become a

store of value other than the focus of utility.

Over time, the circulating supply will vary marginally and organically due to the natural demand and supply dynamics, and the

LIFElabs team will act as deficit central bankers, replenishing the ring-fenced supply from adopter transactions, maintaining supply to

adopter wallets and liquidity for exchanges, and nominated brokers as fiat ‘ramps’ into digital currencies.

LIFEtoken and SupplyThe LIFElabs Ecosystem

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LIFelabs.io RoadmapR

MOBILE APP WALLET (iOS)

LOYALTY REWARDS ON BLOCKCHAIN

EXCHANGE

MOBILE APP WALLET (Android)

CUSTOMER TRANSACTIONS USING LIFE TOKEN

August 2018

November 2018

August 2018

- Multi-cryptocurrency wallet - BTC, ETH, LIFEtoken

- Other cryptocurrencies such as Ripple (XRP) and Litecoin (LTC) to

follow in late 2018

- Privacy and high-security-focused Hierarchical Deterministic

wallet

- Send/receive supported digital currencies

- Exchanging of digital currencies

- 2FA (Two-Factor) Authentication Support

- Export JSON file, print QR code or address

- Asset balance across all wallets in USD, GBP, or EURO

- Transaction notification

- MultiSig (Multi-Signature) option

- Cold Safe to follow in 2018

- OTP (One-Time Password) for a higher amount of transaction to

follow late 2018

- Smart QR Scanner to follow in late 2018

- Quick and easy API

- Admin control panel for LIFE adopters

- Dashboard for adopters

- Life wallet end-user support

- Plug & play integration with various e-commerce systems

- Seemless exchange between various digital assets

- Embedded within wallet app

- Available to adopters and merchants

- Secure and scalable transactional gateway

- Back-office system for supporting merchants

- Merchant app

- Merchant dashboard

- Transaction notifications

Same spec as iOS wallet for Android

PAYMENT CARDS

January 2019

- Payment debit card

- Loaded from LIFEtoken wallet

December 2018

December 2018

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Digital currencies have a vital part to play in transactional ecosystems online and in traditional walks of life. Blockchain allows B2C or

peer to peer cross border remittance possible in seconds.

The role can revolutionise the transfer of wealth by negating the need to use a third party. Our aim is to accelerate adoption of

LIFEtoken with a first phase of product development, which will foster adoption by SMEs, SMBs, non-profits and individuals and

provide a frictionless entry into the world digital currencies.

LIFEtokenPaaS for Transactional Ecosystem

LIFE PaaS100 BILLION TOKENS

AMAZON WEB SERVICES

LIFEwallet

ExchangeMerchantGateway

LIFEcard

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LIFEwallet is a Hierarchical Deterministic wallet (HD wallet). This means that unique wallet addresses can be generated to be used

for each transaction, which protects the wallet holder’s wallet identity and therefore shields others from viewing their digital wealth.

We have also implemented a seamless sign-up process that maintains all of the best security protocols to protect our user base and

also takes the friction and complexity out for newcomers to Blockchain and digital currencies. Our mission is to demystify

cryptocurrency and make it accessible to all.

LIFEwallet on iOS supports ETH (Ethereum), LIFEtoken (and ERC20 compliant tokens), and Bitcoin. Other digital currencies will be

added in due course.

The technical side of wallets is complex and security is of paramount importance. Our design has further features to help the user

maintain their integrity, protect their LIFEtoken, Bitcoin, and altcoins, or any other digital currency. If you would like more information

regarding the code base of our wallet or more technical information, please see our forthcoming technical white paper, due to be

released in late 2018.

Hierarchical Deterministic Wallet

LIFEappR

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Below are just a few features that will be included in our first release of the LIFEapp with plans to integrate more features in later

releases.

LIFEwallet Features

INTEROPERABILITYImport and export wallets into

LIFEwallet

INNOVATIVEHierarchical Deterministic

technology for multiple

addresses FILTERABLESort transactions, markets and

wallets with several variables

USER FRIENDLYCustom and express sign-up

options for users of all abilities

INPENETRABLE12-word mnemonic phrase for

secure wallet backupSCALABLE

Built with scalability in mind for

progressive features

INFORMATIVEAccess to the latest figures across

the crypto markets

TRANSACTIONALSend and receive BTC, ETH, and

LIFE

PRIVATEFull control and privacy of your

wallet private keys

SECUREVisibility options for sensitive

data such as account balances.

LIFEappR

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The following figure shows how the HD multi-currency wallet in the LIFEapp is generated, secured, and how the wallet can be backed

up and restored using the LIFEapp.

LIFEwallet Generation, Wallet Security, Backup, and Recovery

Wallet generation (from the LIFEapp): The wallet in LIFEapp is generated as follows:

Step 1: The app generates some random bits.

Step 2: The random bits are converted into 12 mnemonic words and are given to the user (these words need to be written down and

kept safe).

Step 3 (optional): The user then chooses an optional mnemonic password. This optional password, not to be written down, can

protect the 12 mnemonic words in case they are lost or stolen. If the password is used, the person who only has access to the 12

mnemonic words will be unable to generate the wallet keys.

Step 4: The wallet seed is then generated using the mnemonic words together with the password if one is provided by the user (the

wallet seed stays in memory only).

Steps 1 to 4 are done using standard BIP39 libraries [1]. Since LIFEapp is using a Hierarchical Deterministic wallet (HD wallet), the

wallet seed contains all the information to derive all the public and private keys in the entire wallet.

Wallet Security: LIFEapp protects the wallet in two ways. First, it protects the wallet seed on the storage medium of the device so

that the wallet seed and all the private keys derived from it cannot be read by someone who has access to the storage medium.

Second, LIFEapp protects the wallet actions so that an unauthorised person who has access to the device cannot transfer the funds.

1BIP 39 random

bits

212 mnemonic

words

3Mnemonic password

4Wallet seed

5Wallet password

6PBKDF

7AES-256 key

8Encrypted wallet

seed

LIFE USER

LIFE Adopters &Online Merchants

LIFEappR

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These two security goals are achieved using the wallet password provided by the LIFE user.

Step 5 (optional): The LIFE user provides a wallet password (optional) but is advised to provide a strong password for this.

Step 6: LIFEapp uses a password-based Key Derivation Function (PBKDF), such as scrypt, to derive a AES-256 key.

Step 7: The AES-256 key is used to encrypt the wallet seed.

Step 8: The encrypted wallet seed is stored on the storage device. The LIFEapp uses BIP32 [2] and BIP44 [3] to derive keys in the HD

multi-currency wallet.

For security, we consider the following scenarios:

• An attacker gets hold of the 12 mnemonic words. If the LIFE user had used the mnemonic password, the attacker will not be

able to generate the private and public keys to steal the funds. If the mnemonic password is not used, then the attacker will be able

to access the funds in the wallet.

• An attacker gets hold of the device which is powered down. If the attacker gained access to the storage medium and managed

to break the secure storage feature of the operating system, then the attacker cannot read the wallet seed if the wallet password is

used by the LIFE user. If the attacker tries to brute-force the password then PBKDF will make this process very slow so that the

attacker can guess only a few rather than millions of passwords per second on a standard personal computer. This will allow the

user to regenerate the wallet on a different device and transfer funds to a different wallet.

• An attacker gets hold of the device which is locked. We assume that the LIFE user had used a strong PIN to lock the device and

the attacker cannot unlock the device.

• An attacker gained access to the LIFEapp on an unlocked device. The attacker will then be able to see the transaction history

and balances, but will not be able to steal funds easily if the wallet password is used. If no wallet password is used then the attacker

can steal all the funds.

Backup and restore: we consider the following scenarios where LIFE user wants to backup and restore the wallet:

• In order to backup the wallet, the LIFE user needs to write down the 12 mnemonic words and store the document safely

somewhere. If the mnemonic password is used, it must not be stored together with the mnemonic words: if so, the password gives

no extra security.

• LIFEapp strongly recommends that the user chooses a strong mnemonic password and stores it separately from the mnemonic

words.

• Using the 12 mnemonic words and the mnemonic password the entire wallet can be restored. Since the LIFEapp uses standard

libraries for the wallet, the LIFE user can take these mnemonic words and password to generate the same wallet using other wallet

apps that support HD multi-currency wallets. Similarly, the user can bring wallets created with other apps to LIFEapp.

• The LIFE user can use multiple devices to access their wallets. They can recreate the wallet on another device using 12 mnemonic

words and/or with a mnemonic password.

Wallet Technical Overview (continued)

LIFEappR

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Blockchain works so well for loyalty rewards because of its inherently transparent and secure nature. For consumers juggling an

array of complicated loyalty programs, Blockchain provides a way to instantly redeem and exchange multiple loyalty point currencies

on a single platform. With only one wallet for points, represented as digital currency, consumers will not be hampered by

redemption rules.

*https://www.reuters.com/article/us-usa-exchange-loyalty-idUSKBN15F2SC

**http://www.mintel.com/press-centre/social-and-lifestyle/56-of-americans-stop-buying-from-brands-they-believe-are-unethical

Loyalty RewardsWhy Rewards for Disruption?

*Loyalty points had a book value of around $350 billion globally in 2015 and will be worth an estimated $500 billion by

2019

*53% of consumers expressed a desire for all rewards to be digital

2/3 of consumers think it’s important for brands to take a stance on social issues

For 56% of consumers, knowing a brand is socially conscious influences their purchasing decisions

LIFElabs charitable partners benefit from the consumer adoption of loyalty rewards from 30% of the net transactions on

the LIFE ecosystem top up the ring-fenced supply (30bn tokens), which redistributes a sustainable source of wealth to our

big philanthropic partners

Customer loyalty has a relationship and association with ethical values.

Charitable partners

LIFEtoken adopters

Consumer is geared up and intelligent about offerings and the human story -

SME’s & SMB’s need a vehicle for delivery.

An answer to the challenge of businesses delivering a positive customer experience

and building brand advocacy.

Traditional point systems not agile enough to meet expectations of future generation of customers.

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Loyalty RewardsThe Benefits of Blockchain Loyalty Rewards to the Consumer

Peer-to-peer transfers,

share with family and

friends

Cross border remittance

Transparency on value

and redemption

Easier, transparent

partnerships on common

platform

A system not open to

manipulation or

devaluation

An ethical grounding for

the discerning customerA diversification

opportunity into digital

currencies

Full user control of asset -

freedom/choice

Unbiased platform

*http://www.oracle.com/us/solutions/consumers-loyalty-programs-3738548.pdf

**https://www.forbes.com/sites/marymeehan/2018/03/27/dont-mistake-habit-for-loyalty-5-trends-driving-loyalty-programs-that-create-customers-for-life/#388cef98256b

Loyalty programs have proliferated across multiple sectors. The average U.S. household participates in 9 different loyalty programs,

according to the Forrester*. The result is a confusing array of point systems and redemption options, lack of insight into value, and

the systems themselves often unnavigable for exchanging rewards among program partners or sharing with friends or loved ones.

The Loyalty rewards market is valued at $400bn globally and $48bn is the US alone (Forbes, 2018)** and is are ripe for some kind of

disruptive innovation that would make them easier to use and accessible to smaller businesses to participate in schemes on their

own terms, with little overhead, as well as for consumers to have more choice and control at the point of redemption.

Blockchain and LIFEtoken is our answer. The decentralised nature of Blockchain enables a ledger of transactions to be shared across

a network of participants. When a new digital transaction occurs (for example, a LIFEtoken is redeemed, or exchanged), a unique

record of the token transaction is recorded on the blockchain.

For consumers juggling an array of loyalty programs, with multiple physical cards, Blockchain is a compelling argument for

amalgamating a multitude of rewards in a digital ecosystem that can support consumers of the future. With LIFElabs digital

ecosystem and wallet for loyalty rewards consumers could benefit from centralised and transparent rewards with an ethical

foundation.

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Adopting LIFEtoken rewards enables companies to compete for customer retention with less developmental overhead to their

existing methods. Joining the digital currency revolution further widens redemption avenues outside of the primary entry point,

increasing consumer choice in how to spend rewards; with the combined ethical base of LIFE’s philanthropic vision, this makes for a

strong brand advocacy experience.

The Blockchain and digital currency landscape would further enable businesses to break away from traditional loyalty programs and

the tunnel vision model of redemption. Consumers have heightened awareness of the digital landscape, their value as data points,

and the competitive landscape of loyalty rewards.

Adopting LIFEtoken for rewards enables SME’s and SMB’s to participate with very little overhead. The LIFE for rewards SDK and API

will promote seamless integrations (plug and play) across e-commerce plugins; for example, Magento, WooCommerce, and Shopify,

allowing partner businesses to be on-trend and LIFE rewards to scale in its reach. Furthermore, adopters will have access to a

dashboard displaying key metrics on their allocation of LIFEtoken, projections for supply, and customer behaviour.

Loyalty RewardsThe Benefits of Blockchain Loyalty Rewards to Businesses

Identify your e-commerce plug-in (Shopify, WooCommerce, Magento

etc.)

Install plug-in to add LIFEreward integration snippets

Refer to our developer portal documentation or contact support

Does your plug-in work with a LIFE reward compatible payment

gateway?

Custom integration

Perform testing

Launch the Program

Yes No

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Loyalty RewardsAdopter/Customer/LIFElabs Rewards Ecosystem

LIFE PLATFORM

The LIFE rewards SDK calculates the necessary split of rewards between the LIFE

user and the LIFElabs reward fund and sends them straight

out automatically.

LIFE REWARDS SDK

3

A small fraction of each transaction will top up the ringfenced supply for

supporting good causes.

LIFE REWARD FUND

4

LIFEwallet

The business receives the customer’s payment in

LIFEtoken or fiat currency and gives the purchased goods or

services to the user.

CONSUMER BUSINESS/LIFE ADOPTER

2

LIFE USER

LIFE user downloads wallet app and puts LIFEtoken into their wallet then makes a purchase from the consumer business/LIFE adopter.

1

WAL

LET

DOW

NLO

AD

PHILANTHROPIC CAUSE

L

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Naturally, the follow-on from loyalty rewards is the transaction gateway. How does this differ from a standard wallet transfer? LIFE

merchant app is scheduled for release at the end of 2018 and will provide a secure payment gateway for small businesses to accept

LIFEtoken as payment.

Merchants and customers will benefit from offline transactions to a fixed amount per day. These transactions will take place off the

mainnet (accessing the Blockchain), which will materially speed up the transaction times to buy small items at point of sale (POS).

LIFElabs proposes to ring-fence a daily float of 5bn LIFEtoken to underpin this facility with a reserve. The amount can be increased on

a demand basis. By providing this facility, which will reconcile overnight initially (or timed periods relative to global time zones), it will

enable LIFE to provide a transactional alternative to fiat currencies and bypass the sometimes challenging speeds of transacting on

the Blockchain. This will be available anywhere in the world, subject to our Know Your Customer (KYC) and Anti-Money Laundering

regulations (AML) policy on a territory-by-territory basis.

The merchant gateway will build upon the existing wallet infrastructure, and a third of all net transaction fees will be used to top up

the ring-fenced philanthropic supply. By adopting LIFEtoken as a payment method, businesses and consumers will be actively

engaging in a philanthropic revolution using Blockchain technology. By adopting LIFEtoken, partners become part of a wider

network, enhancing brand awareness for transacting in digital currencies and further facilitating revenue stream opportunities.

Features:

Secure and scalable transactional gateway

Back-office system for supporting merchants

Merchant app

Merchant dashboard

Transaction notifications

Build trust between parties and

devices and reduce the risk of

tampering

Reduce costs by negating the use

for middlemen and

intermediaries

Reduce the time of transactions

from days to almost-

instantaneous payments

Merchant GatewayAn Innovative Platform for Consumer Businesses

Key Benefits of Using LIFEtoken for Customer Transactions

Building Trust Reducing Costs Faster Transactions

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LIFEcard is a user-friendly, prepaid debit card, with no hidden fees. Enabling card payments for goods and services using LIFE and

other currencies (including Ethereum and Bitcoin), LIFEcard bridges all elements of the LIFE ecosystem for use in everyday life. The

card will incorporate a range of technologies to make it as simple as possible to use. By using the card, users will be maintaining the

ring-fenced supply for good causes, as fractions of transactions will top-up the ring-fenced supply.

The use of card payments continued to grow strongly in 2016, with the number of transactions increasing by 10% to a record total of

more than 19bn. With regards to contactless payments, the total spending in 2016 was more than twice that of the previous eight

years combined.

LIFEcardR

Digital Currency Transactions for Everyday Use

LIFECARD USER

The LIFEcard user puts money onto his LIFEcard using the LIFEwallet portal.

1The business receives the

customer’s payment in LIFEtoken and gives the

purchased goods or services to the user.

CONSUMER BUSINESS

3User purchases goods or

services using their recently topped up LIFEcard.

2

LIFECARD

L I F E c a r dL L

Fraction of transaction sent to ring-fenced supply for

donation to philanthropic causes.

RING-FENCED SUPPLY

4

PHILANTHROPIC CAUSE

5A good cause receives a

donation from LIFElabs.io.

L

L

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There are 4000 International NGOs registered with the UN and providing humanitarian and medical services

Approximately 1.41 million non-profits were registered with the Internal Revenue Service (in the US alone)

The non-profit sector contributed an estimated $905.9 billion to the US economy in 2013, composing 5.4 percent of

the country’s gross domestic product (GDP)

In 2014, total private giving from individuals, foundations, and businesses totalled $358.38 billion

A staggering 292 charities, with a combined income of £2.4bn in their latest reported accounts on the Charity

Commission’s website, spent 10% or less on their charitable activities

1,020 charities, with a combined income of £6bn in their latest reported accounts on the Charity Commission’s

website, spent 50% or less on their charitable activities

Innovation partner; for example, with our crowdsourcing platform LIFElabs reduces the barriers for non-profits to

utilise blockchain technology

Strategic advisor; in applying the technology through its consultancy services LIFElabs can advise on best practice and

identify savings and synergies for non-profits.

Vendor with a mission; By offering LIFEtoken as a viable alternative to volatile local fiat currencies or as a transparent

reward system via the LIFEPaaS (platform as a service).

The Philanthropic SectorRapid View of Key Facts

What is LIFElabs to the Sector ?

Sources

Sources

UK - http://www.trueandfairfoundation.com/content/file/feature/review-hornets-nest-report-into-charitable-spending-UK-charities-12-dec-15.pdf

US - https://www.urban.org/sites/default/files/publication/72536/2000497-The-Nonprofit-Sector-in-Brief-2015-Public-Charities-Giving-and-Volunteering.pdf

https://www.theguardian.com/sustainable-business/ngo-business-nonprofit-partnerships-gsk-nespresso-wwf-coke

LIFElabs will develop with a broad role in the sector. The Guardian categorises three types of ‘player’ in this sector

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The current state of philanthropy and Blockchain is in its infancy. While some charities have accepted Bitcoin for donations,

for some time (RNLI press release 2014) the sector itself has tentatively embraced Blockchain with trust, trepidation, and

reputation being significant factors on the rate of adoption.

The landscape of ICO startups presents a veneer of questionable intent and shrouds true entities with breakthrough

potential. The story is still one of promise, with significant prospective change in key areas for non-profits.

Blockchain & PhilanthropyThe Consumer Journey of Intent

Crowdsourcing donations

Supply chains for goods

and donations

Voting

International giving

Consumer advocacy

Accountability/

transparency

Personal security

Maintaining trust

Donor retention

Direct giving

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Social organisations need to take action to bolster trust. Trust is one of the most precious commodities for non-profits and

charities (CAF, 2015). Many non-profits benefit from unquestionable trust from consumers, but there is evidence that this

trend is changing.

“Research published by the Charities Aid Foundation in September 2015 suggested that public trust in charities had fallen

significantly in the past year. When asked in 2014 whether most charities are trustworthy and act in the public interest 71% of over

1,100 people agreed , a figure broadly in line with previous years . In 2015, this had fallen to just 57%”*

Maintaining trust is an expensive endeavour, tied to both marketing spend and maintaining high levels of awareness. Like

many businesses, non-profits vie for consumer retention. Blockchain, due to its inherent qualities of transparency and

immutability, presents a new toolset to enforce trust for consumers.

LIFElabs aims to bridge this gap by becoming an intrinsic part of the Blockchain and philanthropic landscape, by lowering the

barriers to access the technology for non-profits and linking philanthropy to the consumer in a trusted and transparent

platform, with everyday utility for the consumer. At the same time, consumers can be sure their adoption will ensure our

philanthropic partners have ongoing donations, marketing, visibility, and support, but also crucially, a technology gateway to

Blockchain services.

Philanthropy is no stranger to Blockchain; there are a number of companies vying for attention in a marketplace worth an

estimated $3 trillion dollars globally (the exact figure is not known). Alice.si and Disburse are just two validated ventures that

are looking at smart contracts as ways to revolutionise the way non-profits work. Other players include the Bitgive.org

foundation which offers a crowdfunded platform.

All of these ventures have credible arguments and foundations but they lack a holistic vision of the greater challenge: non-

profits not only gaining and enforcing trust in a rapidly evolving consumer environment, but also ensuring the retention rate

of consumer adoption and participation rate through integration into daily life remains high.

*Garton, J. (2018) “What is leading to a decline in trust in charities?”, OpenLearn, http://www.open.edu/openlearn/money-business/business-strategy-studies/what-leading-decline-trust-charities

Blockchain & PhilanthropyThe Consumer Journey of Intent

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Many organisations work in areas and with populations that are subjected to high levels of insecurity and corruption, which

are heightened by traditional monetary systems. Digital currencies offer an opportunity to offset this trend by presenting an

alternative that can be tracked, or only redeemed, in a more secure manner in predefined merchant gateways, tied to the

aim of a particular cause or localised event. The direct nature of transactions makes third parties obsolete, further reducing

the risk of negative influence.

LIFEtoken has the potential to have a demonstrable impact in this area by gaining adoption from inherited trust from its

relationship with non-profits. Also, in return, adoption at the grass-roots level reinforces the LIFElabs giving model with

fractions of transactions topping up the ring-fenced supply.

Adopters for merchant services or loyalty rewards in developing countries will benefit further from an alternative payment

mechanism that is easily utilised by transient worker populations, many of whom are vulnerable to exploitation through a

lack of access to banking or secure financial services. The International Labour Organisation (ILO) estimates that there are

150m transient works worldwide. The UN’s 2017 report states:

“When supported by appropriate policies, migration can contribute to inclusive and sustainable economic growth and

development in both home and host communities. In 2016, migrants from developing countries sent home an estimated US

$413 billion in remittances. Remittances constitute a significant source of household income that improves the livelihoods of

families and communities through investments in education, health, sanitation, housing and infrastructure.”*

The secure and accessible nature of LIFEtoken, powered by the Ethereum Blockchain on global digital exchanges, has a

durable level of utility for international remittance, bolstered by the philanthropic message at the core of LIFElabs’ purpose.

Increasingly, the exposure of Bitcoins and altcoins (any other digital currency, like Bitcoin Cash, Stellar Lumens, or LiteCoin)

adds an inherent risk of volatility, with speculation from external sources a significant factor. LIFEtoken offers a grass-roots

alternative to secure and non-volatile storage that can be economically passed from CtoC or BtoC through the Blockchain.

Blockchain & PhilanthropyBlockchain, LIFEtoken, and the Frontline of Philanthropy

*http://www.un.org/en/development/desa/population/migration/publications/migrationreport/docs/MigrationReport2017_Highlights.pdf

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Smart contracts lay at the heart of utility of the decentralised computing phenomenon. The Etheruem Blockchain has been

labelled ‘a global computer’. Smart contracts govern actions and the utility can be applied to a wide range of scenarios.

Smart contracts are defined by Wikipedia (2018) as:

In 2018, a US Senate report said: "While smart contracts might sound new, the concept is rooted in basic contract law.

Usually, the judicial system adjudicates contractual disputes and enforces terms, but it is also common to have another

arbitration method, especially for international transactions. With smart contracts, a program enforces the contract built into

the code."

Smart contracts will be at the heart of some PaaS product features, so it is imperative that the reader has an understanding

of them.

In the diagram below we portray a project funded scenario, where funding is automatically released by smart contract,

based on a projects progress:

“A computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart

contracts allow the performance of credible transactions without third parties. These transactions are trackable and

irreversible.[1] Smart contracts were first proposed by Nick Szabo, who coined the term, in 1994.[2]

Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing,

self-enforcing, or both. The aim of smart contracts is to provide security that is superior to traditional contract law and to

reduce other transaction costs associated with contracting. Various cryptocurrencies have implemented types of smart

contracts.”

Blockchain & PhilanthropySmart Contracts

USER

USER

PROJECT MILESTONES PROJECT FUNDING RELEASED

1/3 complete, next tranch released

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The LIFEPaaS will be well-placed to bridge the gap between the consumers’ need for trust, the barrier to access the Blockchain of

non-profits, and the endpoint in some cases on the front line for non-profits. In this respect the LIFE platform is a holistic vision in

the theatre of consumer awareness and trust in a digital economy, the role of non-profits, and the role of technology and the actions

of non-profits in developing economies. The role of Blockchain is not a cure-all or panacea, but rather should be seen a positive

symptom of an increasingly dysfunctional dynamic between isolated communities and the divergent role of charitable corporations.

As LIFElabs engages non-profits across the world, trust in LIFEtoken and PaaS will grow, which will in turn foster further adoption of

the platform by non-profits and the role of LIFEPaaS as a third party, trusted by consumers to enforce trust with non-profit partners.

This adoption and trust will inevitably filter into the wider adoption of LIFEtoken in certain theatres, where the host population fiat*

currency is subject to devaluation, boom and bust cycles, rampant inflation, and negative FX movements, all of which undermine

food security and basic necessities, which inhibits development by limiting horizons of stability in many developing countries.

*Fiat money definition: Fiat money is legal tender, or currency (bank notes and coins), which has value only because a government says so,

and because the people using it maintain faith in it having value.

PaaS for Philanthropy

Voting

Proof of identity

Supplychain

Remittance

Ownership

Pooling

Consultancy

Micro-finance

Ownership

Crowdsourcing

Supply chain& donationtracking

Product Wheel

PUBLIC SECTOR PRIVATE SECTOR

TREES FOR LIFE

Help to support deforestation through

school education projects, teaching the

next generation the importance of

environmental conservation.

12%FUNDED

12.5KDONATED

FUNDED12/05/18

CHILDRENS’ HOSPITAL

Help us raise £55K for specific medical

equipment to help treat infants with

rare heart conditions.

3%FUNDED

5KDONATED

FUNDED09/09/17

KIDS’ CODING SCHOOL

We need your help to raise £25K to

open a coding school for children who

would otherwise never get the chance

to learn how to code.

50%FUNDED

12KDONATED

FUNDED30/02/18

DONATE DONATE DONATE

Making a Difference

Explainer - Example only.

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Smart contracts can automate the disbursement of funds and can be used to track goods as they make their way around the world.

This level of transparency has eluded social organisations and donors alike.

Imagine a world where your charitable donations always made a difference. A world where a charity could be run with minimal

overhead. This charity would allow you to see what path your donation took; from the moment it was given to the moment it was

spent, by feet on the ground making a difference. A better charity is possible with Blockchain technology and Ethereum. Using these

technologies, we can build a decentralised, autonomous, charitable platform that can accept donations in digital currency, hold onto

funds and deploy them globally, while maintaining complete transparency of individual donations.

PaaS for PhilanthropyCrowdsourced Funding

R

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Individuals anywhere in the word could securely store and verify their identities and share those identities, however they

choose, from our LIFEvault. This way, data can be held securely and disclosed to the minimum required to fulfil an

obligation. How would this work? Individuals can validate certain pieces of information without sharing the information itself

in a process known as ‘zero-knowledge proof’. This service could also be used by Individuals who may want to safe guard

personal data if they reside in an area where the is a risk of personal identify theft or the loss of personal documents and

data.

Ethical Behaviour

One of the uses of zero-knowledge proofs within cryptographic protocols is to enforce honest behavior while maintaining

privacy. Roughly, the idea is to force a user to prove, using a zero-knowledge proof, that their behaviour is correct according

to the protocol. Because of soundness we know that the user must really act honestly in order to provide a valid proof.

Because of zero-knowledge, we know that the user does not compromise the privacy of its secrets in the process of providing

the proof.

“In cryptography, a zero-knowledge proof or zero-knowledge protocol is a method by which one party (the prover Peggy) can prove to

another party (the verifier Victor) that she knows a value x, without conveying any information apart from the fact that she knows

the value x.

Another way of understanding this would be: Interactive zero-knowledge proofs require interaction between the individual (or

computer system) proving their knowledge and the individual validating the proof.”*

LIFEvaultProof of Identity

LIFEvault

SharableSecure

Immutable

D.O.B.

PASSPORT

I.D.

PRIVATE DOCS

SME’s

GOVERNMENT

AML/KYC

LIFE USER RECIPIENT

*https://en.wikipedia.org/wiki/Zero-knowledge_proof

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The philanthropic sector will continue to evolve at breakneck speeds as will Blockchain technology. Consumer awareness of

breaches of trust will continue to dominate the headlines when they occur. Breaches of trust have become tangible digital

assets, stored and shared across the world by an ever increasingly aware consumer society. Marketing, brand awareness,

and the ability of social organisations to tell their unique stories with confidence and garner participation lie at the core of

maintaining funding for the thousands of valuable good causes worldwide.

“It is every man's obligation to put back into the world at least the equivalent of what he takes out of it.”

By adopting LIFEtoken or LIFEPaaS, anyone can be sure that they are giving back sustainably and equably for generations to

come, with transparency for all.

Closing StatementA Word from Our CEO

- Albert Einstein

Kind regards,

CEO

blog.LIFElabs.io /LIFElabsHQ/LIFElabsHQLIFElabs.io @LIFElabsHQ company/life-labs-.io/

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