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LaLa World

How LALA WORLD is Going to Solve the Age Old Micro-Lending Problems

NEED FOR FINANCING

It’s a proven fact that a business can’t survive without financing. Sooner or later, every business goes for a round of investment in one form or another. Some entrepreneurs bootstrap their businesses from their own pockets, but later on go for a venture funding or an IPO, depending on the stage their business is in. Others would prefer to start their business with a seed funding and then raise multiple rounds of funding.

Getting financed by an investor or an institute is a difficult task and takes weeks, even months. It involves a lot of boardroom meetings and heated discussions. And we are talking about established entrepreneurs and strong projects. In contrast, in the case of self-own small-scale businesses, raising a loan from a formal institute like bank is almost impossible.

LALA WORLD intends to fill this finance gap by extending loans to small-scale entrepreneurs and self-employed. It will help them to get financed by pledging LALA Tokens. Have a look at what huffingtonpost has to say about LALA word here.

Read more: 

CASE OF THE SMALL BUSINESS OWNERS

Small-scale businesses usually don’t have high-quality collaterals against which they can avail loans from the banks. Their businesses are pretty straightforward, having little or no innovation, hence they are not able to impress angel investors and other formal funding institutes. These businesses are often run by entrepreneurs living in tier-II, tier-III cities and sub-rural areas who don’t have flashy degrees to showcase, but some basic education.

But that this doesn’t mean that they are technologically illiterate!

Most of these entrepreneurs have Smartphones and use mobile apps in their daily lives.

“Today, if you look at financial systems around the globe, more than half the population of the world – out of six billion people, more than three billion – do not qualify to take out a loan from a bank. This is a shame”

  • Muhammad Yunus

MICRO-LENDING TO THE RESCUE?

To help these small entrepreneurs and to promote SMEs, many emerging economies offer various loan schemes via State-owned banks. However, these are not successful due to the huge demand for loans and many of those becoming non-performing loans.

Nonetheless, many small finance banks have popped-up in the emerging economies. However, their interest rates vary from 15% to a whopping 40%. Entrepreneur taking loans from these banks often find themselves in a debt trap.

United Nations Capital Development Funds (UNCDF) is actively working to finance the less fortunate in the world’s 47 least developed countries. UNCDF provides capital and technical support through inclusive finance programmes to ensure that more households and small businesses gain access to financial services.

BlOCKCHAIN & MICROLENDING

Let’s analyze why Blockchain is relevant to plug holes in the present micro-lending process.

The Digital Identity

Micro-lending involves financing the small business owners. They live in tier-III and rural cities. It is difficult to expect that they would have complete KYC documents. There are many immoral people who can even produce fake or forge documents for availing loans.

Blockchain can store Identities immutably, so that they can’t be forged or misused by an impersonator. Thus, the lenders can extend credit to a borrower without worrying about ending up in a ‘bad loan’ situation.

High Transaction Cost

The cost involved in the traditional processes of lending to the small businesses is so much that it doesn’t make economic sense for the lenders to extend their services to these small entrepreneurs.

Blockchain removes a lot of intermediaries and eliminates much of the paperwork, thereby reducing the cost of lending.

Reliable Credit History

The way the present credit scoring companies collect transactional data gives the half picture about the actual economic well-being of an individual or a firm. The data is collected without their knowledge and often has errors.  These ratings don’t take into consideration the micro-transactions made in cash or those made in cryptocurrencies. Furthermore, these credit histories are not alter-proof.

Blockchain is a perfect platform to record each and every transaction immutably and build a history of credit data.

Lengthy Processes     

The physical verification processes are lengthy and can takes days even weeks. Even if the verification is successful, the time required for the funds to get actually credited in the account of the borrower is considerable, which leaves the borrower financially vulnerable for many days.

Blockchain-based Smart Contracts can streamline and automate many operational processes to expedite verification and overall lending process.

Read more: Digital Economy Impact Blockchain

LALA WORLD V/s THE TRADITIONAL MICROLENDING

LALA WORLD has embarked on a mission to help migrants who don’t have access to finance since they don’t have a history of credit information or collaterals to pledge, which are required by traditional lending institutes. It has an idealistic vision of building a global financial system, in which migrants would still be eligible for loans in the target country on the basis of the transactions they made in their home country. They would be able to build their credit score by getting verified by more number of people in the LALA World’s ecosystem. What’s more, they would be able to pledge liquid assets for availing loans.

This is how LALA’s WORLD’s global financial ecosystem is going to take over traditional micro-lending processes:

Blockchain is an invaluable tool that has been chosen by LALA World to achieve its goals. However, the true strength of LALA World’s lending platform is in the sheer number of partners it brings to the table. It recently tied-up with world’s largest migrant database management platform – MiGram. It has been constantly striving to join more and more people in its endeavor – “Making Human Lives Better.”       

LALA sign historic agreement with MiGRAMS, Worlds Largest Migrant Management platform to improve lives together

Dear LALA Family,

“If everyone is moving forward together, then success takes care of itself.” – HENRY FORD
Yes, we have found THE RIGHT PARTNER in each other. This is the greatest partnership we both could hope for.
LALA Team is pleased to announce our partnership with World’s Largest Migrant Management Platform -‘MIGRAM’.
MiGRAM is a migrant centric technology platform capable of delivering technologically innovative, client-centric and comprehensive enterprise solutions. They provide cross-border IT solutions, applications and infrastructure setup for the government and private sector clientele. Since its inception in 2008, MiGRAM has continuously been involved in conceptualizing, developing and integrating end-to-end IT solutions for a wide variety of clientele focusing on Migrants and their journey.

Those who are familiar with the LALA World’s vision, know that it wants to make a difference in the lives of the unbanked and the migrants. These people generally re-locate to other countries in order to earn money, so that their families can live a better life back at home. LALA World intends to remove the hurdles they face in their day-to-day activities that make it even more difficult for them to realize their dreams.
We believe that we’re very fortunate to partner with the MiGRAM, since this partnership is going to be rewarding not only for us but many others around the world. MiGRAM manages the largest migrant data across the globe. Hence, this association will strengthen LALA by linking it with the migrants directly. We would be in a better position to acquaint migrants with the LALA World’s global financial ecosystem, that connects poor families across the borders.
In other words, now we are connected to more potential future users of LALA ID and the services associated with it, like LALA Wallet, LALA Transfer, LALA Bill Pay, LALA Lends and LALA Card. Needless to say that we are now more confident that the LALA World global financial ecosystem would be a huge success!
We are really excited about this partnership and hope that the LALA community will be too. With such stepping stones, we are inching towards our vision. A wise man once said: ‘Growth is never by mere chance; it is the result of forces working together’.
This is just the beginning! We have more exciting partnerships lined up. Stay tuned for more updates from the LALA Team.
Thank you for being a part of this incredible journey. We’re blessed to have your continued support!

How LALA World Brought Smiles on the Faces of the Underprivileged!

Dear LALA Family,
The greatest power is not in ruling the world but in spreading smiles and love. Especially to those who are unfamiliar with the kindness that the world has to offer. Each one of us is capable of becoming powerful; all we need to do is believe in the strength of giving. LALA World understands the importance of making a difference in the lives of the underprivileged and is determined to be a helping hand in all the ways it can.
“IT’S NOT HOW MUCH WE GIVE BUT HOW MUCH LOVE WE PUT INTO GIVING.” – Mother Teresa
LALA World is pleased to share the incredible experience of the donation drive that we organized in April, in Delhi NCR – India in partnership with The Clothes Box Foundation. It was for the worker-class who struggles tremendously to earn even a single bread in a day for their family. After all, serving the needy never harmed anyone.

The distribution drive turned out to be a success as more than eleven hundred workers showed up. The passionate team of CBF & LALA World along with our Chief Operating Officer (COO) – Mr. Ranjit Kumar distributed around three thousand clothes that included a pair of t-shirt and denims. It was quite a task to personally attend thousands of workers but our team along with Clothes box Foundation managed to greet each one of them with a smile. Witnessing the spark in the eyes of workers felt like a great accomplishment and it was definitely one of the best days at work. They took back clothes with them whereas our team took back the overwhelmed hearts and an even more dedicated vision of spreading millions of such smiles in the near future.

With this small initiative, we not only made a little difference in the lives of underserved workers but also took a step forward in fulfilling the vision of LALA Worldi.e. to make the human lives better. We want to enable and empower the unbanked through the revolutionary Blockchain technology. As there are many who are affected by the present situation and regulations, LALA intends to reduce and eventually vanish the suffering due to the inefficiencies of the present day banking system. The focus is to globally help the unbanked and migrants, who suffer a huge amount of problems majorly in terms of finance.
We all believe that this was a small step compared to the vision LALA World has and there is a lot to be done. We firmly believe in the saying – “Great things are done by a series of small things brought together.”
Stay connected with us through our community on Telegram and our social media pages to get the latest information on the project developments.
We’re blessed to have your continued support and Thank you for being part of this incredible journey!

How LALA WORLD is connecting poor families through its global financial ecosystem

Family is not an important thing, it is the ONLY important thing! Our families are at the center of all of our activities. The word ‘family’ is not bound by a blood relation; it applies to anybody with whom we have developed a bond of love, affection or respect. When the whole world turns back on you, your family would still welcome you with open arms. No doubt, we would do anything for our families and their happiness.

“Life’s most persistent and urgent question is, ‘What are you doing for others?’”

– Martin Luther King, Jr.

To be able to provide for their families, millions of people migrate to other countries for the prospect of a better job with higher pay. They leave the comfort of their homes and the warmth of their familial relationships because they know in their hearts that the sacrifice that they make will enable their families to live a better life back home. In its effort to answer the question by Dr. King, LALA World has set about to make a difference into the lives of these millions with its simple mission – “Making Human Lives Better.”

According to the Migration and Remittances Factbook 2011, more than 215 million people live in a country other than the one they were born in. Such a huge number of migrant workers also send a large amount of money as remittance back home to their families in their country. The country that received the most money remittances as per the 2010 data was India, followed by China, Mexico and France. In effect, more than $440 billion is moving around the world, the result of the hard work and sacrifice of migrants.

That migrants face tremendous amounts of problems would be a gross understatement. Apart from the obvious problems of settling in an alien land with curious customs, culture and different people comes the overbearing hurdle of financial non-inclusion. Getting these migrants into the financial mainstream is a difficult proposition.

Migrants often send a majority of their earnings back home to their families and to do that, they have to rely on intermediaries, many of whom are unscrupulous middlemen ready to make a quick buck at the expense of the poor migrants. Intermediaries like remittance platforms and banks often charge hefty transaction fees or commissions. The migrant population is suppressed in terms of the remittance facilities that they have available for them. This suppression needs to end and the only way to do this is to empower the people at both the ends of the transfer.

The uplift of these people is the driving force behind the development of diversified solutions through the use of technology and the network of LALA World. The solution that LALA World has developed for tackling the pertinent hurdles involved in global remittances is LALA Transfer. It is one of the most comprehensive remittance solutions available with a mix of traditional remittance aggregators (they are not going anywhere soon), peer-to-peer local and global transfer of funds and stellar Blockchain technology, all enabled on a single robust platform – LALA Wallet, a global Wallet for all your financial needs.

LALA Transfer will facilitate the remittance of money at a very nominal fee and aims to empower the migrants with the knowledge that they can send their money to their families back home at a very low cost than ever before. This knowledge gives them the confidence they need to go work in an unknown land and not worry about how their money will reach their families. This kind of assistance will definitely put their minds at ease because they will be assured of the least interference and the immediate transfer of their hard-earned money at the lowest costs.

LALA World has a vision to enable and empower the unbanked through the revolutionary blockchain technology. By ensuring that the people who have been at a disadvantage owing to the current regulations and scenario are benefitted by their services, LALA World wants no one to suffer due to the inefficiencies of the current banking system. The philosophy of LALA World is to reshape the financial ecosystem by making it decentralized (eventually) using the blockchain technology. To that effect, LALA World has in store a variety of products to make the lives of the people, especially the unbanked masses, simpler. LALA Transfer is one such product. By using LALA Transfer, a migrant will have peace of mind and his family will be able to enjoy a better life owing to the increase in the remittance resulting from lower transaction and exchange fees. The migrant and his family will be secure from any misappropriations in the amount of money transferred and there will be no need for dealing with any agent or other such intermediary. LALA Transfer, along with a host of LALA World products, will definitely bring families closer and promote financial transparency among them.

Stepping up LALA – Join us in welcoming Shailendra Gupta as LALA World’s new CTO & Business Head – India

Dear LALA Family,
Greetings!
Today, we have the pleasure of announcing an exciting new addition to our team of innovators —  our Chief Technology Officer & Business Head-India  – Mr. Shailendra Gupta.
Shailendra is a veteran tech executive having over two decades of diversified experience in IT/Telecom/Ecommerce/IoT/Fintech and has immaculately handled multiple Technology & Business functions in large global organizations and startups. He will be an invaluable member of LALA World’s leadership team, helping to drive our vision for innovation. He is going to shape the company and product strategy, leading the development of LALA’supcoming product and technology solutions that further advance the capabilities of LALA partners.

During his last association with RechargeItNow.com as CTO & VP-Business development, he has led the development of technology & business functions. Shailendra spearheaded the business (B2C, B2B & white label) which managed to rake in excess of USD 100 million. During his journey, RechargeItNow.com had attained major market share in Recharges & Bill payment and was awarded as the “Fastest Technology Company” by Deloitte. Prior to that, he was the engineering head – ASPAC at Verizon Business, a global telecom company and had handled large projects (>20M) across Asia.
A strong technology enthusiast and with his always learning attitude, he is willing to take on new challenges everyday. Shailendra is an avid music lover and has achieved many accolades as a state level badminton player. He believes that fitness is key to performance and understands the joy and complexity of team work
We are tremendously excited to work beside such an experienced and visionary innovator.
We believe that we are on track, as each day at LALA we make new strides in our vision and come closer to becoming a global phenomenon.
Thank you all for your continued support!

LALA CEO Sankalp to speak at Stellar meet-up in Dubai

Dear LALA Family,
There is an old saying that, “Opportunities to interact with people who appreciate your efforts should never be wasted.” Well, this one always resonates with LALA and the team makes sure that our CEO & Founder Sankalp Shangari never misses an opportunity to interact with the Blockchain Community.
Stellar.org, our awesome partner on cross border remittance and LALA would come together once again to showcase the LALA World Story and our development journey. Its a Stellar meet-up for Blockchain and FinTech enthusiasts at the Future Accelerators Stadium, Dubai – Tuesday, 1st May 6:00pm onwards. We are expecting 200 plus audience and explain the ways in which LALA is trying to bring about a social revolution.
The event would also feature a fire side chat between Mr. Marwan Alzarouni, Founder, OTC Supply and Ms. Lisa Nestor, Stellar. NEC Payments and Mobius are among the other esteemed partners of LALA & Stellar who have been invited to share their journey so far. These events not only provide the attendees an opportunity to learn from the successful used cases and help better their understanding about this breakthrough technology but also help the budding entrepreneurs find mentors, network and talk about their ideas with the like minded counterparts.
The event will be at the prestigious smart Dubai Accelarators. Please feel free to reach out to Sankalp for any LALA update or any general blockchain chat.

Stellar is an important ally for LALA as we are passionate and pushing for a change that has only one mission – Making Human Lives Better!
Stay connected with us through our community on Telegram and our social media pages to get the latest information on the project developments.
We’re blessed to have your continued support and Thank you for being part of this incredible journey!

Our “LALA Of The Week” goes to…

Dear LALA Family
It’s time to announce yet another LALA of the Week. Started a month back its the 5th title going out. This is an effort to recognize those members of the community who continuously mark their presence, with immense support and efforts to maintain the flow of conversation on our telegram channel. Some have put forward their knowledge of cryptos & exchanges and helped fellow community members while some have managed the to keep up with the project related conversation flow on the cannel.
Our “LaLa of the Week” is – “Max”, who has kept the energy of the community flowing at “All Time HIGH” with his crazy talks and incredible comic timing.
He’s our Man !!

He has an impeccable sense of humor; being an active member of the community he has eased out situations when the discussions were getting tense. He has acted like a guardian spirit and extinguished any possible chances of clash between members with his skills as an excellent communicator. We wish him the best and hope he continues to keep up the good work. He has proved to be a strong pillar for LaLa World Telegram community, who comes out with funny jokes and lot of smiles.
Look forward to more and more participation, insights and ideas from our lovely family. We at LALA World are blessed to have a community like you.
Thank you for your continued support and for being part of this incredible journey!

Karan Bhatia, Global Head of Lending joins LALA

Dear LALA Family,
We extend a very warm welcome to Karan who has joined LALA as the Global Head of Lending. Located in Singapore, he has already Embedded his mark in establishing the global lending arm of LALA World – LALA Lends.
Karan has over 15 years of  experience in financial sector, the majority of it in the asset management and credit industry. He was the founder of a large credit business in India (NBFC), managed portfolio of credit investments in Asia and Americas. Further, he has an incredible experience of being part of two successful credit funds – Mason Capital and Puma, in New York, with a focus on high yield and special situations credit investments.

Most recently, he was the MD and CEO of X10 Finance, an NBFC (money lending business) focused on supply chain finance solutions for SMEs in India. With X10, he successfully built and managed USD 80 million of lending with no NPAs, within 24 months and had a very successful exit.

Prior to X10, Karan worked at Deutsche Bank, part of the Strategic Investment Group, focusing on investments across Asia. He was a key member of the team which held a large credit focussed portfolio across SE Asia with a strong focus on India.
Karan brings an extensive credit and investment experience across global markets, an excellent ability to interpret market trends and has a detailed understanding of financial products for banks and lenders. He has a unique combination of experience as an investment professional, an entrepreneur with a deep understanding of credit and lending space along with the true insights about the operational issues and challenges, which will be a great advantage in growing a loan book, building partnerships and mitigating risk.

Mr. Bhatia is a Chartered Financial Analyst (CFA), has an MBA from New York University, Stern School of Business and an MS in Computer Science from the University of Southern California.

He lives in Singapore with his wife and two lovely kids. He is an avid reader, a technology enthusiast, and a keen (but struggling) golfer ;p

We believe that we are on track, as each day at LALA we make new strides in our vision and come closer to becoming a global phenomenon.
Thank you all for your continued support!

Watch Out for LALA World CEO & Founder – As he addresses Blockchain Conferences in Dubai this week

Dear LALA Family,

It’s no secret that Dubai feels like a second home to LALA.
Sankalp Shangari CEO & Founder LALA World will be addressing the Blocksocial – Dubai tomorrow, along with Blockchain Thought Leaders, Industry Expert, Business leaders and respected Professionals from across the domains to highlight the latest innovations and advances in Blockchain technology. The Blocksocial is about – ‘Creating Positive Social Impact with Blockchain’. A platform to discuss groundbreaking ideas in the realm of social entrepreneurship.
Further he would be addressing the ‘ICO Conference – Spade Group FZC on Wednesday April 18, 2018.

Blocksocial Dubai : Mr Shangari would start the proceedings of the event with a welcome note. Followed by the inaugural address of Mr. Mark Beer (renowned public speaker and thought leader in legal and justice sector), Mr. Shangari would address the gathering where he’ll talk about “How blockchain has the power to help serve the unbanked, better”.  Blocksocial Dubai will have a homogenous audience that comprises of Investors, Entrepreneurs and Pioneers in Technology, Finance/Legal experts and Business heads.
Through his address Mr. Shangari would be sharing his opinion on “How LALA World has been working towards integrating Blockchain technology with the financial services”. Along with that he’ll be talking about LALA’s upcoming products & services that would help with paperless identification – LALA ID and how LALA is going to extend banking facilities to migrants and refugees via LALA Wallet . “A forward thinker he believes in helping those in dire needs”.
ICO Conference-Spade Group FZC: Mr. Shangari would be one of the eminent speakers at the Conference. The conference is centered on  -“How investor’s Choose ICO”. Sankalp, having successfully led the LALA World ICO and being on the advisory panel of several companies and ICO organizations, would be able to give true and valuable insights to the investors as well as the keen audience present there.
“LALA World is committed to raise awareness of the potential of this groundbreaking technology, advocating for its global adoption and providing a foundation for education, collaboration and dialogue”.
Stay connected with us through our community on Telegram and our social media pages to get the latest information on the project developments.
We’re blessed to have your continued support and Thank you for being part of this incredible journey!

AMA Chapter 1 with CEO & Founder Sankalp Shangari is a Big Hit among the LALA Community

Dear LALA Family!
At LALA World, we have always stressed the importance of dreaming big and keeping things simple. The vision at LALA has always been “To Make Human Lives Better”.
Our first #AMA (Ask Me Anything) with CEO & Founder Sankalp Shangari was fantastic and we received a massive engagement from the community members. This is one of the many initiatives that LALA World is taking to ensure transparency.  A Lot of FUD has been cleared, our official telegram group and the confidence building up in the market has shown that in past couple of days. We will continue to provide with the information on all the processes involved and regular updates on the product development for clarity.
With this #AMA, we tried to combine all your concerns and address them in a detailed and elaborate manner for everybody’s discretion. From the queries it got clear that the community wants more updates on the developments at LALA. We are going to document our grassroots level migrant & workers community outreach to share with you the strength of our massive network through our fantastic partnerships. With the seen confidence in markets

Please find the important parts of the video transliteration on this link: https://blog.lalaworld.io/lala-world-reddit-ama-01-ask-me-anything-excerpts-from-the-ama/
We’re blessed to have your continued support and Thank you for being part of this incredible journey!