All Posts By

kanav Bhan

Here comes our LALA Of The Week…

Dear LALA Family,
Hope everyone had a good long Easter weekend!
Well, it’s time to announce the 3rd LALA of the Week. A huge number of our supporters have become our crusaders in the war against Financial Exclusion. We are surprised by your enthusiasm and hope that we continue to live up to your expectations.
‘Bouba’ is the LALA of the week this time around. He has been an extended arm of the LALA admin team doling out suggestions to new members on the knowhow to trade in LALA Tokens. Positive criticism is another feather in his cap; he has time and again helped us with valuable suggestions and edits in our blogs/posts. We are grateful for his active participation on the community and for the good marketing ideas that he has been suggesting time and again.
We feel delighted that its a difficult task for us to announce the LALA, as a huge number of our followers have been supporting us through their valuable inputs. We look forward to more and more participation from the members.
We at LALA World are blessed to have a community like you.
We’re grateful for your patience and the overwhelming support…Thank you for being part of this incredible journey!

Digital economy and the Impact of Blockchain

Blockchain and bitcoin are the buzzwords of the contemporary era. However, it is imperative to differentiate between the two. In simple words, Blockchain is the technology, whereas Bitcoin is one such implementation of it (among others). It is a form of digital currency based on blockchain technology. Digital economy and the impact of Blockchain on it cannot be negated; it needs to be studied carefully.

Blockchain is a decentralized platform which facilitates peer-to-peer transaction, negating the need of a third party. It thus enables trust, accountability and makes the system much more transparent. The absence of a central authority makes everyone the owner and simultaneously keeping a tap on other transactions which are taking place.

Let us understand digital economy and the impact of Blockchain through the example of India. The present society is governed by a central regulatory authority, where the decisions are taken and implemented. In the financial sector, the RBI (Reserve Bank of India) plays the role of a central authority and operates through various banks that rely on it. Every transaction goes to the bank and then to the direct consumer. Now imagine a situation where a simple transaction can take place directly without the need of a bank or any authority acting as the middleman in the entire process. Blockchain technology has the potential to offer an infrastructure which makes the transaction cost effective (cross border payment), time effective (transfer of funds) and transparent (non-involvement of third party). The vision of a digital economy can be fulfilled by implementing Blockchain based platforms in the financial sector to ensure transparency and a corrupt free system. Through this, the total circulation of money in an economy can be easily traced. It is because every node present in the network validates every transaction and the same is updated in the ledger; the ledger cannot be tampered.

Technical advancements pave the pathway to a bright future. Human activities are now being replaced with Artificial Intelligence (AI), making our lives easier. Since change is the only constant it has the potential to bring about a revolution. And moving from a conventional way of working to a more secure and trustworthy platform is the need of the hour. Blockchain is one such change that will challenge the status quo in every sector, and it will prove as a boon for digital economy.

Digital Banking with Blockchain and the Infrastructure Hurdle

Numerous debates are taking place across forums; the talking point is Blockchain being the harbinger of the new age technology revolution. And as it happens with any new and emerging technology there have been discussions about its usefulness, advantages, disadvantages and the way of its implementation.

While some agree that Blockchain can be implemented in most of the industries, some argue otherwise stating that it should be used only for payments and validation during its early years. As is seen throughout modern history, any new industry that came and flourished was backed by a solid infrastructure. This has been the area of concern for the Blockchain enthusiasts; it is yet to get a solid infrastructural support.

One of the primary beneficiaries of Blockchain technology is digital banking and financial services. They need a solid infrastructure and know how to capitalize on the potential of Blockchain. It seems very enticing to use this technology for quick payment process and transaction cost reduction. But banks need to build infrastructure to create and run a truly global network based on this transformative technology.

It has been found out that banks are interested and looking into Blockchain to speed up their processes. According to a report by consulting firm Accenture, 9 out of 10 banks agreed that they are exploring the use of Blockchain in payments and may use it if results are promising. It has a real-time transfer capacity; this has made it a favorite of banks.  The most prevalent use case of Blockchain technology is emerging out to be intra-bank cross-border transfers & cross-border remittances.

Blockchain technology itself works—there’s no debate about that. The biggest key to turn Blockchain’s potential into reality would be a collaborative effort among banks to create the network necessary to support global payments. This network if deviced into existence would act as the requisite infrastructure. Now it’s time for the banks to look at the bigger picture. And work together with Non-Banking Financial Institutions (NBFCs) to help define the backbone that can underpin a universally accepted, ubiquitous global payment system that can transform how banks traditionally execute transactions.

LALA’s Partner-Bestinet Wins the Best Digital Innovation Award

Best Digital Innovation Award

We are elated to announce that LALA’s Partner-Bestinet won the Best Digital Innovation Award. Bestinet – Global leaders in providing migrant management solutions were awarded the Best Digital Innovation of the Year. The awards were presented at the World Summit Award (WSA) in Vienna, Austria for the Government & Citizen Engagement Category. Bestinet’s multi-touch point system was judged the winner for helping the United Nations (UN) meet its Sustainable Development Goals.

The World Summit Awards are presented annually to honor the contribution of organizations and individuals aligned with the Sustainable Development initiatives run by the United Nation. Bestinet’s management system is a classic example of LALA World’s vision of ‘tech with purpose’. The FWCMS (Foreign Workers Centralised Management System) also known as Migrams, is a unique management system that highlights four core components — Security, Health, Welfare and Compliance — in a single unified management system that benefits all stakeholders.

LALA World’s old and proud collaboration with Bestinet in Malaysia is a milestone to take on this historical argument of banking the unbanked. In the present case this begins with identification of the migrant situation right from its roots. With our strong partnership, these migrants will easily become a part of the financial ecosystem, unlike earlier when for even using the basic financial services they had to go through various middlemen, suffering slow complicated processes and awfully high fees – worst is behind them – with the BESTINET & LALA Wallet, now they can send money back home with ease, in no-time and almost free without getting ripped off their hard earned daily wages.
Our heartiest congratulation to the entire Bestinet Team for their awesome work!

A Mother Tongue is an individual’s Identity & LALA ID aims to be their Global Identity

Communication is not just the sole purpose that language serves; it is, in fact, the identity of a person. The mother language or the mother tongue that a person speaks defines and distinguishes them among the masses. It is this uniqueness about language that people through generations struggle and fight to keep their own mother tongue alive. As reported by UNESCO (United Nations Educational, Scientific and Cultural Organization), on an average, one language withdraws every two weeks and around 43% of the estimated 6000 languages spoken in the world are classified as endangered. Human civilization and development of a particular area or region can be measured by the advancement of the particular language of that area, therefore when a language disappears it takes along the entire culture and intellectual heritage.

LALA World respects and understands the value and prime importance of a person’s individuality and global identity especially when they leave their respective motherlands to work offshore. With little or no understanding of the foreign tongue, they feel out of place and at times majority of them end up without any identity. Since decades the unbanked and the underserved have been struggling to get this fundamental right, in order to access the basic financial and social services. International students, micro-entrepreneurs, and migrants have always struggled with this.

Living up to the vision of providing a comprehensive digital identity to every person on the planet – LALA world and its sincere associates have worked tirelessly towards building this Single Global Identity for everyone – LALA ID, which conclusively will include KYC/AML, biometric verification, digitization of records, cards, national ID systems etc. protecting the security on Blockchain and giving all a freedom to conduct various financial services, all in via a single wallet – LALA Wallet.

Primarily, the LALA ID will be able to consolidate all physical and digital identity into a single secure & private ambient identity providing everyone with a world of opportunities and possibilities and happiness.

#Belala #behuman

LALA Of The Week: The Community Crusader

LALA of the week

Dear LALA Family,
Hola,
Here we are with the 2nd edition of LALA of the week and It is a pleasure to announce Basti R. as this week’s LALA.
Basti R. has been a conscientious community member; he has been helping the admin team with his regular inputs. A communicator par excellence, he has been seeding conversations and has kept the community ticking. We wish Basti’s wonderful association with us continues unhindered.

Through this announcement we want to thank him for his contribution towards our goal of Financial Inclusion for all.
We at LALA World are blessed to have a community like you and you could be the next LALA of the week.
We’re grateful for your patience and continued support… Thank you for being part of this incredible journey!

Lets Talk! Ask us your questions and LALA will answer #AMA

LALA World AMA session

Dear LALA Family,
At LALA World, we have always tried our best to be completely transparent with our LALA community as we make sure that regular project updates as they happen keep flowing out in time.
To take this a notch further we are conducting a LALA World AMA session to discuss where LALA is now and whats happening in our LALA household and everything else about the LALA Roadmap.
During this #AMA session, the community can ask questions, put their ideas & thoughts forward as they can interact directly with the management and the team at LaLa World. We have tried to keep the LALA World AMA session as interactive and as easy as possible for you all and as well as the team.

LALA World AMA session

To participate in LALA World AMA session,  follow the steps as below:

• Click here to visit LaLa World Subreddit #AMA thread
• Ask your question in the comments section
• At the end of the week starting tomorrow, the top 10 most upvoted questions will get answered during the #AMA session
We would like to thank each one of you for your continued support and belief in LALA World project. We are working relentlessly to achieve our mission of a LALA powered decentralized financial ecosystem. We hope that this #AMA session will bring more transparency between LALA World & our Beloved LALA Community.
Note: Also, don’t forget to subscribe to LaLa World subreddit to be updated of all the happening on the #AMA front.

With LALA World – Time for change has come!

LALA Word CEO to address Blockchain and Businesses Conference

Blockchain and Businesses

Dear LALA Family,
We are pleased to announce that our CEO Mr. Sankalp Shangari would deliver the inaugural address at the ‘ Blockchain and Businesses ’ conference organized by Nanyang Blockchain Association. The event is scheduled to take place on March 27, 2018 at Nanyang Technical University.
Mr. Shangari would share his vast knowledge and understanding of the financial world while enunciating the impact of Blockchain on it. He would motivate them to inculcate the spirit of social entrepreneurship for it can be the solution to most of the human problems. LALA World endorses social entrepreneurship through its attempt to bring financial inclusion for the 2.5 billion unbanked across the world.

He would be followed by some eminent Blockchain and businesses experts like Karan Bhargava, CTO, XinFin and Ruby Chen, Marketing Director at BitKan. They will address the students on the evolution of Blockchain and the contribution of their organization in the same.
The Nanyang Blockchain Association is a student’s body which aims to educate and spur students’ interest in Blockchain technology, cryptocurrencies and their applications.
Be there to exclusively meet the LALA himself…!
Please join us on Telegram to get all the regular updates on LALA and interesting discussions going on about LALA World.
We’re grateful for your continued support, thank you for being part of this incredible journey!

The Blockchain Push towards Financial Inclusion

Blockchain Push

Blockchain push towards financial inclusion is a necessary devil that needs to be unleashed to protect the interests of the marginalized. The idea of not having a bank account or a mechanism to send or receive money may seem to be a remote possibility to billions of the privileged people across the world. But it is a reality that plagues around 2.5 billion people, most of who live in the third world countries and developing economies. The financial exclusion suffered by a larger section of the society is due to government apathy and the lack of identification.

Students, Migrant-workers and Refugees are the most vulnerable section of society who suffers the wrath of financial exclusion. Students who relocate to other countries to pursue higher studies often face trouble in getting requisite financial assistance due to lack of necessary paper work. Migrant workers are another group of people who face the problems due to unavailability of transaction facilities. War refugees across the world are forced to live within certain designated areas known as colonies; most of these are denied basic banking facilities on the account of lack of requisite documentation papers.

Financial transactions are undergoing a sea change with the use of Blockchain technology. It is enabling a democratic & decentralized transaction system which is devoid of regulations. Being immutable in nature, the transactions made on Blockchain cannot be tempered, hence create a trust-less condition. Aligned with the cause of the marginalized, these products are being developed and many are on the verge of launch. Financial inclusion doesn’t merely give ability to transact rather it enables the person to indulge in activities that help in developing his overall conditions. Right from education to health to business opportunities the dependability towards financial transactions cannot be ignored.

Blockchain based organizations like LALA World are launching their wallet which would deal in fiat currencies while resolving the issue of financial inclusion. LALA id, with its unique identification mechanism will help in fulfillment of KYC process. Once the identity verification process is done the user would be able to send and receive payments. The app would also have remittance facilities in the later part of the year. With their products and services, Blockchain push would help in achieving the goals of financial inclusion and ameliorate the miseries of the marginalized.

You Can Be The Next “LALA Of The Week”

LALA World Telegram group

Dear LALA Family!
Greetings…

We at LALA World are blessed to have a community like you on our LALA World Telegram group. We are happy to announce that we would be declaring ‘LALA of the week’ from next week onwards to appreciate the efforts of our patrons. In the recognition to their efforts we would also be awarding them with 15 LALA Tokens as a token of appreciation.
This title would be given to members who have shown their incessant support towards the LALA World project and have been actively participating in the discussions, doing odd hours on our behalf, and seeding conversations on the Telegram group.

Well, theres more…The ‘LALA of the week’ would be sent an exclusive invite to attend the meetups (where LALA World would be invited) or the BlockSocial, when happening in their vicinity. The ‘LALA of the week’ would be given an opportunity to talk about their association with LALA Family and have a one to one with our CEO & Founder – Sankalp Shangari.
Please join us on LALA World Telegram group to get all the regular updates and announcements about LALA World.
We’re grateful for your patience and continued support, thank you for being part of this incredible journey!