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LALA World Monthly Roundup: October 2018

LALA World attended and delivered back to back conferences, summits and events related to the present and future of Blockchain, cryptocurrencies and finance over the month. It exposed us to latest crypto and Blockchain updates and helped us build a wider business network, connections and partnerships.

Accelerator Program

Lala World had been selectively invited to Accelerator Program ‘Fintech Business Camp Tokyo’ held by TMG (Tokyo Metropolitan Government). Mr. Jayadeep Apte, Global Head of Strategy and Business Development and Mr. Ranjit Kumar, Group COO and team represented LALA World. LALA World’s growth over its short span was acknowledged and well appreciated.

We have received phenomenal response from the Japanese government for our project. It has increased LALA World’s prospects of expanding its business ecosystem and geographical audience towards more Crypto-friendly markets, primarily Japan.

Summits

Sankalp Shangari, CEO & Founder of LALA World was invited as a speaker at ASEAN Summit 2018 where he delivered his views on ‘CryptoGovernance – Blockchain as a Game Changer in Sustainability Development Goals’. It was received with stellar responses and interactions resulting in extensive knowledge sharing and cultivation of new ideas and platforms.

Mentions & News

In a conversation with esteemed Blockchain Journalist, Simon Chandler (Cryptonews), Sankalp shared his views about the current slug in the bitcoin market but also expressed his conviction of a positive outcome from natural selection. Simon Chandler gave mention of this in his controversial blog relating to tokenization.

AMA (Ask Me Anything)

Sankalp Shingari had conducted his 4th AMA on Oct 1st, 2018. It was received with a rave number of queries, opinions and suggestions related to the company’s future and expansion. Solutions to each issue and feedback was provided through Mr. Sankalp’s vlog, personally.

Upcoming Events

Mr. Sankalp Shangari would be addressing the ‘FinTech in Asia’ summit organized by Accenture in association with Singapore Fintech Association. The event is scheduled for 15th November 2018 in Singapore and is being held in different locations across Asia.

LALA World is gearing up through Research & Development, experimentation and continuous exposure of AI and ML learnings to face technological, humanitarian and ecological challenges coming ahead.

 

 

How Blockchain Technology is going to change the face and form of NGOs

Blockchain technology

The popularity and implementation of Blockchain technology have been growing over the past few years, ever since its inception in 1991. It has been widely popular in financial services through increasing demand of cryptocurrencies such as Ripple, Bitcoin, Ether, etc. With the range of possibilities in this technology, it can change the functioning and face of industries as diverse as health care, supply chain management, music rights and even NGOs. Blockchain can help promote human rights, cause a paradigm shift in the society and could even possibly, save the world!

What are the Challenges faced by NGOs and how can Blockchain Technology resolve it?

Allocation of Funds

Funds are remitted from different sources and allocated to different departments based on their needs. They are managed either manually without a standardized process or with the help of an ERP. This sometimes causes mismanagement in allocations of funds because of human error involved, deliberately or not.

By developing an NGO ecosystem through Blockchain technology, every transaction is immutable and accountable to the participants. Every input of this Blockchain is entered only after the approval of members (consensus) and any rift can be easily identified.

Transparency

Every contributor always worries about whether their donations are in the right hands and reach the neediest.

Blockchain created specifically for NGOs ensures that the data is transparent and secure. Every single penny coming into the system is recorded with a timestamp and allocated to a cause after approval through veto. Every contributor has a clear understanding of where their donations are being used.

Identity Issues of Inmates

People who enter refugee camps run by the NGOs are issued identity documentation, but these new identities are not really able to be extended once people leave. Blockchain technology’s distributed nature can be a good fit for immigrants who don’t have a country to go back.

By helping NGOs implement Blockchain technology to create these IDs, the inmates from these refugee camps can apply for loans, make and receive payments, track spending and ultimately start a new life.

NGOs have begun using the Blockchain technology to record and function. The International Scientific and Practical Association Jus Naturale became the first non-profit organization to introduce a decentralized membership system, based on Blockchain technology. All transactions were made through Bitcoins, to ensure the usage of fundings in the right direction. The World Food Programme has used Ethereum to deliver food vouchers. A recent UNICEF project tried to recruit supporters to mine Ethereum for them to raise profit, resulting in the creation of over €9,000 in just one month. More and more NGOs are adopting this disruptive technology to streamline their functionality, and a trustless & transparent ecosystem to aid the underprivileged doesn’t seem too far.

Blockchain Bringing Revolution across Industries

Blockchain

We are living in an era where emerging technologies like Blockchain are widely implicated in various applications to bring comfort in our lives. Blockchain is in its infancy, but holds the potential of revolutionizing the way present world functions and is capable of building new ecosphere. If sufficient time is invested in remodelling of certain systems by enforcing Blockchain, the future will be full of new advancements. The internet came in 1990s and smartphones came in 2000s, creating a world that is heavily dependent on them. Confiscate any teenager’s smartphone and you can see their routine going haywire and losing confidence at the same instance, demonstrating the extent of addiction of certain technologies. Blockchain has the capability to create the same effect especially in operations sectors.

Our future generation would be reaping the advantages, if we understand the importance of Blockchain technology today.

Blockchain refers to a decentralized database that stores transactional records and has an exclusive cryptography, virtually impossible to decrypt that record without the private key. The real disruption happens when trust is established through collaboration and code, rather than a central authority.

We can easily say that we would no longer need a bank to transfer money around the globe. An escrow account will no longer be needed to buy a home, or a real estate agent to facilitate the transaction. There would not be any requirement of a company or central authority to authorize a government transaction. This revolutionary adoption has the potential to transform every industry for good.

Some can easily be seen in the light of Blockchain Technology:

  1. Pharmaceutical

Pharma companies needs to track the movement of their drugs, to keep a check on drugs from the manufacturer to end consumers in the supply chain. When Blockchain is implemented on the pharma supply chain, it keeps a record of all the transactions and notes every detail of location, quality, price etc. Hence, data is not only visible to all concerned parties, implementation of this technology reduces the tempering during the transit. The process is made transparent, secure, decentralized and verifiable in the supply of authentic medicines and trimming costs involved in detecting faulty areas. Alteration of any detail is difficult as the system is decentralized and provides real-time updates to all parties through the incorporation of IoT devices. The

is an exquisite platform to increase transparency and trust, with customers being able to keep a track of pharmaceutical products throughout the supply chain. The stakeholders are given rights to add on the said Blockchain. Manufacturers and consumers can scan the barcode and view the history related to the product received.

  1. Politics/Voting

Security in the voting system is the priority for governments at present, as terrorist organizations and rival governments are always a threat.  Rigged votes and ‘voting irregularities’ are commonly observed in the politically disturbed regions. Blockchain can induce high security and make the voting systems completely hack proof. From voter registration & identity verification to tallying votes, the system would be indisputable.

  1. Real Estate

The paperwork is always dreading before and after purchase of a house, Blockchain can simplify the process and eliminate escrow altogether. By deployment of Blockchain, basis completion of predefined conditions, the smart contracts are triggered to complete the pre-programmed actions, including funding. With transactional data stored on Blockchain, the paperwork cost will reduce. Additionally, the elimination of intermediaries will decrease the commission rate exponentially.

  1. Government

Aside from voting systems, Blockchain technology can be used to help reduce and eliminate bureaucratic red tape and corruption in governments. Welfare, disability, veterans, and unemployment benefits can be more easily verified and distributed, eliminating fraud and waste. Smart contracts will ensure that the tax money is dispensed to the government, once the pre-defined conditions are met, making the functionality of governments secure, transparent and efficient.

  1. Charities and Aid Organizations

People are always willing to help the needy through charity organisations, but recurring doubts about whether their money is reaching the one who truly needs it are always there. Charities can regain the trust of people through smart contracts and online reputation management systems. This will help in streamlining the process and building trust in donors, ensuring them that the money is reaching the intended recipients. The U.N.’s World Food Programme is implementing a Blockchain based system that allows refugees to get food with an Iris scan, instead of relying on cash, credit, or vouchers, all of which can be stolen.

  1. Financial services

Blockchain could potentially save banks billions in cash by dramatically reducing processing costs. Banks are salivating at the opportunity to reduce transaction costs and the amount of paper that they process. Implementing Blockchain would make banks increasingly profitable and valuable. Santander, a bank based in Spain, have savings through Blockchain at $20 billion a year. Alternatively, the market has been introduced with many startups working with Blockchain becoming the banks for future. Financial institutions are also embracing recent developments at a larger scale, by directly investing in FinTech startups. As per KPMG report – 2016, venture capital funding to global FinTech companies reached a record $13.6 billion, while overall investment in FinTech companies was total $24.7 billion.

LALA World is one of the progressive FinTech organizations, which believes in the alternating strength of Blockchain, redefining the Banking and other financial services – Remittance, Lending, etc. The trust, efficiency and security can be significantly increased by deploying Blockchain in a sustainable ecosystem for the future of FinTech industry. LALA World has successfully incubated various products to meet the rising demands of the current and future generations. We are able to provide them with high-security and high-capability products, holding the potential to make the financial aspects simpler.

LALA World invited at ASEAN Summit 2018

LALA World is invited to attend ASEAN Summit 2018, and Sankalp will be one of the panelists speaking at the event. The event is organized by RHT Academy and they are bringing together Blockchain based thought leaders on a single platform. Over 250 C-Suite executives, SME business leaders and industry practitioners from a range of industries will be attending this summit. ‘The Future for ASEAN Economy’ is the major agenda and LALA World will add by delivering its views on ‘CryptoGovernance – Blockchain as a Game Changer in Sustainability Development Goals’.

At the panel discussions of ASEAN Summit, LALA World will talk propositions regarding the utilization of Blockchain as a distributed ledger. This will enable the creation of multi-stake holding ecosystems. Also, the panel will brainstorm on cross-sector partnerships, whilst mitigating risks involved in it. The interactions between the pioneers of Blockchain industry will be centered on various application developments. LALA World will introduce the possibilities to integrate digital identity-based products on Blockchain to the panelists.

Also, Blockchain enthusiasts will discuss the use cases of decentralization that are implemented globally. These brainstorming sessions will reveal endless possibilities utilizing the potence of Blockchain in various domains including, remittance, supply chain management and property rights.

LALA family is thrilled to be the part of this mega event organized in Singapore on 24th Oct 2018, to discuss the implication of Blockchain for future development. Join in for discussions and queries over the wide array of Crypto discussions offered by LALA World. Sankalp looks forward to establishing relations and channelizing knowledge transfer about CryptoGovernace– at ASEAN Summit.

All our LALA family members, Blockchain experts, entrepreneurs, partners and investors are requested to join this endeavor.

The Tokyo Talks

LALA World experienced exciting first few weeks at the Accelerator Program ‘Fintech Business Camp Tokyo’ that is held by TMG (Tokyo Metropolitan Government). It has been organized by Accenture with the aim of inviting foreign start-ups with cutting-edge technologies and business models to come to Tokyo. From LALA World, Mr. Jayadeep Apte, Global Head of Strategy and Business Development and Mr. Ranjit Kumar, Group COO along with team presented the LALA World ecosystem and shared the journey of utilizing Blockchain based solutions for financial services.

Team LALA met with various banks and high net professionals from Rakuten Bank, Accenture and Tokyo Government.

The vision of LALA World, i.e., to touch 100 million lives by the year 2020, was well received amongst pioneers of the Japanese market, as they have similar aspirations from their businesses. The presentations managed to grab the attention and interest of various investors as well. The journey of being acquainted with Japanese culture and markets have been splendid so far.

We believe that this can become a major milestone that can exponentially expand our global reach. LALA World extends warm gratitude to our community and supporters. Stay tuned for more updates.

Blockchain –Mitigating the Landscape of FinTech Industry

Blockchain –Mitigating the Landscape of FinTech Industry

Ecosystem that includes all. FinTech has garnered positive attention from around the world for its ability to instill comfort and user-friendly interface in various domains of financial service including Banking, Lending, Insurance, Transfers, etc. Introduction of Blockchain in FinTech industry has further streamlined the services, adding up to the fruition of the industry. With Blockchain replacing the traditional technology in the workflow of Fintech, it is becoming increasingly essential for us to develop an understanding of the underlying processes of this one-of-a-kind technology.

Blockchain is a decentralized digital ledger that holds records of digital data or events in a manner that makes them tamper-resistant or ‘immutable’. While many users may have access and can inspect or add to the data, they can’t alter or delete it. According to a study published by Statista, “the Blockchain is used mostly for international money transfers, which was about 60%. Other usages include KYC and anti-money laundering, predictions and stock markets, collateral management, trade surveillance and so on.” The report discussed Blockchain usage opportunities among financial institutions worldwide in 2016.

Blockchain and Financial sector are brought together with the aim of improving the lives of the unbanked. FinTech is a crucial element in providing solution to the global issue of financial inclusion. If we consider the history of technology adoption in financial sector, innovations have been constant beginning from the introduction of core banking systems in the 1970’s and 80’s, the ATMs came in the 1990’s, and entry of mobile money (e.g. M-Pesa in Kenya) in the 2000’s. World believes that the amalgamation of Fintech and Blockchain can achieve new heights. After all, banking has been around since the beginning of the Ancient Greek and Roman periods and even before that. The first banking systems were founded to facilitate trade in the MENA Region. However, today, 86% of the population in MENA are excluded from receiving Financial Services.

What is the reason behind their drift? Why are banks serving the wealthier? This is the province where Blockchain can come in handy with its strength and capability to reach all while eliminating ambiguity and inducing transparency. This makes banking on Blockchain extremely customer-friendly, quick and efficient. It can reclaim the lost trust and credibility of banking systems in the hearts of users.

Benefits of Blockchain for FinTech

  • Security: The major concern of customer has always remained security, provision of which is the foremost priority for FinTech companies. Financial intermediaries like a stock exchange, money transfer services and even banks are suffering from economic fraudulent cases. One of the common reasons for this is the centralized database that is vulnerable to cyber-attack, leading to the destruction of the entire database. As soon as they gain access to one system, hackers get the path to breach other security systems as well, leading to more loss and security failure.

    Blockchain is an optimal solution to avoid these situations as it is a distributed ledger, wherein data is decentralized, stored in blocks, and each block holds a timestamp (a cryptographic hash function). Each block contains a link to previous block’s hash, thereby creating a chain of records that cannot be fabricated.  Network like this would require access to multiple blocks for breaching the security system which is next to impossible, this reduces the damage caused to the financial institutions.

  • Elimination of Intermediaries: The entire FinTech industry is striving to make financial services efficient and cheaper. But there’s an excessive number of intermediaries in the process, each of which gets their profit margin in a transaction. They can also access your private data making it vulnerable to security breach and tampering. Reducing the number of intermediaries makes the process quicker, cheaper and more transparent. Blockchain system is a peer-to-peer network than provides utmost security which no other financial technology has been capable of doing in the past.
  • Smart Contracts: Before understanding the peculiarities of smart contracts, we must believe that they have come to free us from the bureaucracy and stagnation of the systems. They are fulfilling automatic agreements that don’t need manual approval to work. Smart contracts include setting the conditions which are essential for the execution of a contract.. It can induce speed and reduce human error percentage in consummating each contract.
  • Cost and speed of transactions: Even though it takes a lot of processing power and time to make changes in a Blockchain, it is more efficient since the operation is performed in a single system. If we just consider international payments, it’s almost certain that adapting to Blockchain for transactions will make the process faster. It will omit the need to wait for several days for its completion. Transactions do not require approval from numerous authorities and financial institutions that lie between the sender and the recipient.

FinTech industry has realized the evident difference Blockchain has brought by making its applications real-time, fast and secure. LALA World has stepped ahead from its competitors by introducing the Blockchain based digital identity. This new development is a  prominent feature of Fintech industry that simplifies the authentication system. In implementation of Blockchain, LALA World was is in the process of putting together an efficient financial

LALA World in Tokyo – Selected To be a Part of an Exclusive FinTech Business Camp

FinTech Business

LALA World has been selected to be part of an exciting Accelerator Program, in Tokyo, Japan. The Accelerator Program “ Fintech Business Camp Tokyo ” is held by TMG (Tokyo Metropolitan Government) and run by Accenture with the aim of inviting foreign start-ups with cutting-edge technologies and business models to come to Tokyo. TMG’s goal with the program is for the start-ups to deepen their knowledge of both Japan’s market and various needs of the companies in the capital city. This program envisions to cultivate business networks and attract foreign companies.

LALA World is amongst the few start-ups handpicked by TMG for this camp. LALA world’s achievements in a short period of time were acknowledged. Our essence of our socio-business, gave us this inspiring chance to project our vision and business structure to Japanese market.

Not only this, we will get acquainted with the Japanese citizens, who are culturally inclined towards believing in inventing something new each day.

LALA Legacy is expanding its business and building an ecosystem that positively accommodates an increasing number of global citizens. Imprinting our footprints in Japan is just a step towards our aim.

Furthermore, LALA World is also interested in the TMG’s Financial One-Stop Support  Service, which offers a range of business and lifestyle assist, equipping startups with information and advice on Japan’s regulations, etc. They would additionally assist in all aspects from establishing a local company to infrastructure needs like office space and information on living in Tokyo.

We extend our gratitude to the community. It is because of their continuous support and feedback that we are able to maintain this accelerated development.

We are look forward to an enriching experience in Tokyo!

LALA Worked Like a True Virgo This September – #9thMonthlyRoundup

LALA Worked Like a True Virgo This September - #9thMonthlyRoundup

We managed to accomplish what was planned for the month and we can’t be more proud of the team.

Launches & Expansions 

LALA World announced the launch of its new service – “Pay by Crypto”. This allows the users to top-up and recharge using cryptocurrency through the LALA World App in all crypto-friendly countries.

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LALA WORLD Launched Cross border Mobile payments in 160 Countries with its Trusted Partner TransferTo. This key partnership with TransferTo has enabled LALA World to access over 600 mobile operators, across 160 countries and offer their customers to seamlessly top-up the mobile phones, all credited in real-time, directly to the recipients mobile in local currency.

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BUSINESS MENTIONS

LALA World has been selected to be part of an exciting Accelerator Program, in Tokyo, Japan starting October 1st. The Accelerator Program “Fintech Business Camp Tokyo”is held by TMG (Tokyo Metropolitan Government) and run by Accenture with the aim of inviting foreign start-ups with cutting-edge technologies and business models to come to Tokyo. This program envisions to cultivate business networks and attract foreign companies.

LALA World is amongst the few start-ups handpicked by TMG for this camp. LALA world’s achievements in a short period of time were acknowledged. Our essence of our socio-business, gave us this inspiring chance to project our vision and business structure to Japanese market.

LALA Legacy is expanding its business and building an ecosystem that positively accommodates an increasing number of global citizens. Imprinting our footprints in Japan is just a step towards our aim.

EXCHANGE LISTINGS

We are excited to inform that LALA World has been nominated for Bitmart Exchange -Community Voting. With every single vote in favour of LALA World, the possibility of LALA Token to get listed on another exchange will grow.

Dont forget to register your vote here: https://www.bitmart.com/vote

It is the community we work for and the LALA family, we believe in, family, to whom we look forward to. All we need from you is support, in the form of votes, helping us win and get listed on this exchange, just the way we are present across Kucoin, Coss, Liquid, Cobinhood, and Idex.

EVENTS VISITED & SMILES SPREAD

LALA World attended Consensus Summit Singapore 2018, the first International edition of the biggest Blockchain Technology and Crypto Conference on 19th & 20th Sept 2018 at the iconic Marina Bay Sands hotel.There were over 75 experts sharing their insights, important industry announcements  were made, and LALA World earned many cross-industry networking opportunities as event witnessed more that 8,000 attendees. The event was mutually beneficial, where LALA World’s inputs were valued and appreciated, at the same time, learnt from the experts who graced the event.

 

Observing the Paediatric Cancer Awareness month, LALA World  collaborated with OncoHappy, an NGO dedicated to holistic care of kids with cancer, to facilitate an expressive art festival #goldishappy. The 7-day festival from September 24th to September 30th, included multiple therapies, including, poetry, music, dance movement, theatre, cooking, storytelling, craft and art. The instructors holding these workshops were a group of artists and therapists, spending time helping children to cope up with their treatment.

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I’m Excited to be Back For My 4th AMA – Let’s Connect The Dots

I’m Excited to be Back For My 4th AMA - Let's Connect The Dots

Dear LALA Community,

Really excited to be back for my Fourth AMA this time.

Here’s a couple of things I won’t be doing this Friday – Taking a flight, Speaking at an event, Writing, Working late hours or sitting at the back seat of an Uber. All, so that I can answer your questions instead.

Why is this special?

The coming months are going to be packed with great news like New Releases, Product Updates, Working Partnership Updates, Accelerator Programs, LALASpeaking at Events, Business Camps, Some Team Building Exercises and much more at the backend.

We are close to our next Big Achievement after LALA ‘Pay by Crypto’ was made live last month. Powered by Stellar Protocol we are coming up with our Star Product ‘LALATransfer’ in action sooner than expected, and kudos to the team that is working really hard to make it a 4th consecutive launch in last 3 months.

So preparing and chanting the words of trust in God, I assume you will keep it easy for me this time. Few I know will be tough but good ones to talk about. I Would sincerely like to answer any question as per my wish coming up until 4th Oct 2018, 11:59 Pm Singapore.

I will answer the top 10 most upvoted questions on the Reddit Thread posted here – http://bit.ly/4thAMA-LALA

Retweet the Post shared in here and spread the word, so that people and other community members don’t miss out on the opportunity to ask their questions – http://bit.ly/4thAMA-twitter

You can join our Telegram and other Social Channels for regular updates and please give a thumbs up every time you see our post on all LALA World social handles as the team gets motivated to see you all support.

We thank all our Proud Investors and LALA Users who have been supportive and got us thus far. Your trust is paramount for us to make LALA a huge success.

Yours Sincerly,

Sankalp

LALA World Spreads Smiles with Creative Healing

Brings paediatric patients an expressive art festival in collaboration with OncoHappy

LALA World collaborated with OncoHappy, an NGO dedicated to holistic care of kids with cancer, to facilitate an expressive art festival #goldishappy.

Observing the Paediatric Cancer Awareness month i.e., September, OncoHappy has curated India’s first ever expressive arts festival and is conducting it with over 50 local partners.

The LALA teamed up with the volunteers of OncoHappy to help them in organising creative healing sessions at St. Jude Childcare Centre, Delhi-NCR, India. The therapy sessions are being conducted between for seven days i.e. from September 24th to September 30th, 2018. This is being held across multiple cancer centres in Mumbai, Delhi-NCR & Bangalore and LALA World is humbled to be part of this creative drive.

The 7-day festival will include multiple therapies, including, poetry, music, dance movement, theatre, cooking, storytelling, craft and art. The instructors holding these workshops are a group of artists and therapists, spending time teaching children the importance of mental health to cope up with their treatment.

Approximately 9 million people lost their lives to this dreadful disease last year. LALA World recognises the pain borne by cancer patients and is doing its bit to to reduce the traumatic experiences that they are suffering.

We encourage our community members to empathise with people in need and contribute towards building a better society.