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The Blockchain Push towards Financial Inclusion

financial inclusion

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.

LALA World Product Roadmap “To Make Human Lives Better”

LALA products

“Always dream and shoot higher than you know you can do. Don’t bother just to be better than your contemporaries or predecessors. Try to be better than yourself.” – William Faulkner

Dear LALA Family!
At LALA World, we have always stressed the importance of dreaming big and keeping things simple. Our vision at LALA has always been “To Make Human Lives Better”. For LALA and our Vision, partnerships play a significant role in achieving the goal of financial inclusion to the masses. It’s a long way to get to these below vision points but we are simplifying and clarifying where we eventually see ourselves getting to. We have coined a term that dictates our everyday working: DDOS.

D – Decentralized – No one should control the system. System should benefit the users and reward them for the growth and success of the system
D – Democratic – Everyone should have a voice on how the system should run. This will not happen overnight, but something we are aiming for a longer term vision.
O – Open Source peer to peer – No middlemen in true spirit of Blockchain. However systems need to be put in place such that there is no abuse
S – Social Impact – What good is technology, be it Blockchain or be it hash graph, if that does not benefit humanity, especially the needy and underserved.

GIST (Goals, Ideas, Step Projects and Tasks)
The planning system that we use at LALA is more oriented towards end goals and giving ownership to LALA employees & partners. LALA team has been working full steam to launch exciting LALA products and markets. There is a lot more to come in the following months. Below is what our extended roadmap and a brief about what LALA products would look like for 2018. Also, some highlights towards our wider three year roadmap.
We make a living by what we get, but we make a life by what we give – Winston Churchill

Goal
The future is moving towards decentralization. Our eventual goal is to be a Global Decentralized Financial Ecosystem. An ecosystem that supports the financial inclusion of unbanked, undocumented, micro entrepreneurs and the like. In other words, using Blockchain to remove middle men from the system. Everything is about TRUST and Blockchain is about trusting the underwritten protocol.

Ideas
The broader idea is to enable micro transactions, micro-lending, insurance and other banking products at almost zero-fee, instantly, cross border, mobile enabled and accessible to the common man along with incentivisation at every step to keep the users engaged and rewarded. LALA Token is the key element of this ecosystem (LALA produts) and users will be rewarded for using LALA Token in getting services from the various partners globally as well as within the LALA Wallet. Each product will have its own innovation, own separate project and its own idea generation methodologies to accomplish this.

Step Projects
We are focusing on three simple LALA products for this year’s roadmap .

SEND SPEND & LEND
The base of all LALA products is LALA ID – one single global digital identity on Blockchain, a culmination of state-of-the-art biometrics, digitization of national identity documents and comprehensive verification. After successfully completing every step of LALA ID, user receives reward points which either can be redeemed in LALA Tokens or can be used for getting services within the wallet.
LALA ID as a product has undergone rigorous testing. We are proud to release this to the general public by end of this month, along with the platform that binds everything together – LALA Wallet. LALA Wallet is a step project in itself and has gone through numerous interactions to reach where it is today.

• SEND

LALA Transfer is our cross border remittance business that is being built on Stellar. Working on a very close partnership with Stellar, a PoC is expected to be complete in March 2018. In April we shall open up few countries for testing and live transactions in Malaysia, India, Dubai and Philippines. Once we have built a scale in these countries in Q2, we shall expand to over 10 more countries by end of the year, primarily in South East Asia, Middle East and CIS. Although money transfer can be done in fiat but users will be charged very less fee and incentivized as well, if use LALA tokens for the same. Alongside Stellar protocol, we are obtaining licenses to continue traditional remittance where Blockchain is not possible regulatory wise.
Also, we are proud to announce that LALA has successfully piloted with 46 migrants, where these people were able to transfer Malaysian Ringgit 75,000 back home to Bangladesh at a substantially low fee. To see the smile on their face was the biggest prize LALA could ever get. Further, LALA plans to take this number to 400 people this month end and later push it as per the roadmap.
On top of this, we are also building a white label solution for each of our LALA products including LALA transfer to enable plug and play solutions for non-Blockchain users as well as for people without technology resources. Merchants need to pay the fee in LALA Tokens for these white label solutions.

• SPEND

The first LALA Wallet was launched in December 2017. We shall be launching the latest version and a brand new LALA Wallet by this month (March 2018) with extensive features. LALA family and users can earn rewards and tokens by engaging with the application, saving, and transacting. We are also working with a partner crypto wallet that has selected LALA Tokens to be used on its platform that enables LALA Token holders the possibility to unlock instant liquidity of their tokens through their Wallets. We shall release more details about this partnership in April, once integration and beta testing is complete.
We are a B2B2C company and we have global partners for each product which enable us to leverage on their existing infrastructure to reach the masses. Like always, our community will have regular news on various new partnerships that we shall be closing.
LALA’s two main products for this year are LALA Transfer (Cross border remittances) and LALA Lends (P2P and direct micro lending).

• LEND

LALA Lends is our P2P Lending and Direct Micro/Nano Lending platform. Every lending decision is based on the AI and ML driven LALA Score for every individual and MSMEs.
The P2P lending platform is currently being built on Ethereum with extensive studies on Raiden network. The platform should be up and running in Q2 2018. Starting with India in Q2, 2018, we are expanding across Dubai, Malaysia, Sri Lanka, and the other countries across South East Asia. In the second half of the year, we shall also experiment with Africa and parts of North America. This platform will not only provide further liquidity, but also enable LALA Token holders to earn further rewards. Here, in P2P lending platform, only token holders can lend and borrow as per the number of tokens they have. If a borrower does not have good LALA score, he can put his LALA as collateral and receive loans quickly from anybody across the globe. User can also improve his LALA score by transacting LALA tokens within the ecosystem and receive collateral free loans.

LALA Lends

Micro lending platform is based on direct lending to individuals and micro entrepreneurs/Micro SMEs starting with India by Q2 2018. We will also establish micro lending in Sri Lanka, Dubai, Malaysia, Philippines, Myanmar, UK in Q2 18, either directly or via our multiple B2B partners.
Other LALA Products of future shall include a crypto as well as fiat LALA Card, LALA insurance, LALA care. The foundation of this is being laid down now but would only start as we get some real partners and some more resources, so as not to spread ourselves too thinly. Also the focus is not just expansion, but profitable expansion so that we can give back to our early supporters and give back to the society.
Tasks
Launching a wallet would require two main tasks in every country – An E-Wallet license or a partner with license. Secondly, cash and in cash out solutions at partners locations, along with additional services. When our global wallet is launched, some services will be restricted based on specific regulations in each of those countries. We are carefully complying each and every regulation as we expand. We will also be adding services in LALA products for every country like Point-of-Sale and value-added services with partners like KKMarts in Malaysia, cash top up kiosks across UAE in partnership with Mango Point, merchant transactions and services with local vendors, School fee payment integrations with Cambridge schools, and the purchase of airtime, data, and utility services for LALA customers. Each of this is a little task in itself. This further enhances the adoption of LALA token across partners and geographies, create more liquidity and adoption of LALA Token.
Numerous other services and functionalities would be enable users to use LALA e-Wallet application to access their daily needs. This will enable LALA to expand network with LALA partners, increase usage of LALA tokens across boundaries with integrated services, and be able to serve some markets without the need for traditional banks.
By Q2, 2018, we will extend the LALA Wallet as a white label solution in true spirit of partnership and building out the network. All other services shall be a part of this Wallet ecosystem, including LALA token as a reward program and enabler. A truly financial ecosystem would be impossible to build alone.
Later half of the year we will focus our attention from LALA products to expansion and we aim to be in at least 15 countries by end of 2018. Individuals as well as micro entrepreneurship (MSME’s) will remain our focus expanding from SE Asia, Middle East to Americas and Africa.
This is just the beginning and we have delivered much more than what we promised. We will continue to surprise by working hard and all we seek in return is your continued support. We may make mistakes, but we will improve through our own learning and the daily constructive advice of the LALA Community. There is only one intention here – make human lives better by serving our community who has brought us this far.
Current, Near – Term and Future
We are a B2B2C company. We have always stressed that we do not want to build Rome all over again. We want to leverage on the existing infrastructure that is already there. That is our key strength – Global Partnerships – both at local as well as government level. Both with corporate enterprises as well as local NGO’s.

LALA roadmap

We would like to thank each one of you for continued support. We are working relentlessly to achieve our mission of a LALA powered financial ecosystem and gearing towards decentralization through LALA products.
Please join us on Telegram to get all the regular updates on LALA’s listing and various discussions going on about LALA World.
With LALA World – Time for change has come!

ETHFINEX has Included LALA World Token for Potential Token Listing

LALA World Token

Dear LALA Family,
Support LALA World Token for Potential Token Listing on ETHFINEX
As we look forward to LALA Token getting listed in the month of March, ETHfinex has included LALA World in the Potential Token Listings.
To get listed at the ETHfinex exchange, the community needs to contribute and show that LALA is one of the most anticipated listings for the month of March. “Discussion Forum” on ETHfinex has all the trending discussions where the community can contribute and get its voice heard. If regular discussions happen under the “LALA World Potential Listing”, it will stay trending for longer and get the momentum going in our way.
This inclusion is a great start but with such a great community as you are we can surely stay atop in the Trending discussions. Let’s all get our efforts together and prove our might once again!

The discussions have already started and there are multiple topics for postings such as Developments, General discussions, Whitepaper, Token Structure and Announcements. You can start New Topics in any of the above and invite others to be a part of your discussion thread. Each registered user can do multiple posts under all the categories and rate LALA World Token. There is NO COST to Register or contribute.
You can first register on ETHFINEX.com and learn more about Token Discussions on www.ethfinex.com/discussions. For posting about LALA World, You can check out and follow the discussion at www.ethfinex.com/token_listings/34/social_category/200/LALAchannels or start a topic of your own.
We know that together we are unstoppable. Let’s get this listing done.
Thank you for your continued support!

Non-KYC LALA Tokens auction starts 6th March

LALA Tokens auction

Dear LALA Family,
The KYC/AML verification process and token distribution is now complete!
As you are all aware we had strict KYC compliance throughout. We are delighted to announce that only 2.37 Million tokens were found KYC non-compliant.
These Tokens belong to the community and these KYC non-compliant tokens will be Auctioned in a reverse Dutch Auction.

Keeping in mind the ICO price and due to huge demand of LALA to date, LALA tokens auction for 2.37 million LALA will start at a price of 50 Cents per LALA Token on 7th March 2018, 2pm SGT with registration starting 24 hours prior on 6th March. Price will decrease by 5 cents every 3 hours with the final price floor at 25 cents.
For e.g. Between 2pm-5pm starting 7th March 2018, minimum price per LALA Token will be 50 cents, after that between 5pm-8pm minimum price per LALA Token will be 45 cents and so on, until the price reaches floor of 25 cents.
Auction will be closed after receiving bids for a maximum of 3 Million Tokens. After receiving all the bids, LALA Tokens will be allocated to early bidders of 2.37 million tokens at lowest bid (Last bid) of the auction.
For e.g. suppose a participant, Daniel, places his bid at 47 cents per LALA at 7pm SGT for 10,000 LALA Tokens. Last bid placed in the auction, for 3 million tokens, is 39 cents. Therefore, Daniel and all other first participants of 2.37 million tokens will be allocated tokens at 39 cents, the last and lowest bid. ETH will be only acceptable currency in this Auction. For avoiding last hour rush, Auction platform will be opened on 6th March, 2pm SGT, 24 hours before the auction time so that participants can deposit Ether on the platform prior to opening of the platform. This will also ensure fair chance for everyone.

Participants can register on the platform, deposit ETH But cannot place bid before 7th March 2pm SGT. All remaining ETH or left over ETH beyond 2.37 million tokens will be refunded immediately.
LALA Tokens Auction platform is open for all to participate!
Note: Multiple bidding is allowed. Minimum purchase is 1000 LALA Tokens and maximum purchase is 250,000 LALA Tokens.
Note: The benefit of early bidding is that you will definitely receive LALA Tokens.
Note: You can check the highest and lowest bid on the dashboard anytime which will be displayed live.
Thank you for your continued support!

How LALA World Plans To Make Cryptocurrency Useful In The Future!

lala world blockchain

Technology continues to make life easier. Everything, from shopping to social connect, to digitizing the cable network, has been done to provide the factor of convenience. With the advent of technology, transferring money in the form of cash, cheque, demand drafts, or money orders, may seem like ancient and useless methods. These methods are far less popular when compared to faster electronic methods for transferring money between accounts, states and even across borders. But the cheapest method of transfer still varies from person to person depending on their circumstances and their ability to afford the cost.

Unfortunately, when it comes to transfer of money through phones and other advanced digital options, convenience comes with potential risks. There is a need to protect funds and personal information by being aware of the drawbacks to such methods and the security issues that entail them. There is an abundance of hacking and cloning methods, and tools, that are not very difficult to get hold of.

To prevent people from falling victim to these risks, fintech corporations have come up with the concept where you can encrypt your assets to send them safely to another user, without being bound by excessive regulations and through a completely legal process. Cryptocurrency is a digital currency system that makes use of peer-to-peer (P2P) exchange platforms, is normally decentralized and facilitates the capability of processing digital transactions. The currency holders maintain virtual wallets which can hold such transactions.

Cryptocurrencies have been in existence for quite some time, but were not properly acknowledged. In the present scenario of digital advancements and evolution of money transfers, the process and concept of cryptocurrency has come into limelight. They have generated the tremendous amount of attention as well as controversies after they started being used as a convenient alternative to the world’s leading currencies like the US dollar, the Euro, and commodity assets such as gold and silver. These currencies are quite comparable to those of real money that can be used in purchasing products and obtaining services. Their flexibility allows them to be used for buying automobiles to buying a cup of coffee.

LALA World is introducing an Ecosystem for the underbanked population by harnessing the power of Ethereum & Hyperledger blockchains and bridging the gap between real and crypto world. It is a new-age one-stop wallet based service that, with the help of tokens based on Ethereum’s technology, provides financial inclusion to the underbanked population of the world as well as allows investors to capitalize on the rise of blockchain technology. By creating a whole new P2P infrastructure, LALA aims to revolutionize the way individuals, small businesses and entrepreneurs transact, make payments, borrow, lend, and conduct other basic financial services.

The LALA World Ecosystem is a complete financial ecosystem that consists of 5 major products;

  1. LALA Transfer        2. LALA BillPay              3. LALA Lends           4. LALA ID                5. LALA Card

LALA Transfer is a Peer-to-Peer local and global remittance that can hold fiat as well as cryptocurrencies. It is an essential service required for migrants working abroad who send money home to their dependents. LALA Bill Pay is designed to be a local and international utility, which facilitates any bill payments via country-specific partners for both Crypto and Fiat currencies.

LALA Bill Pay can process bill payments at the push of a button. This is being facilitated by building partnerships and cooperation with local government agencies.

LALA Lends is a borrowing & lending service that provides the money-lending facility in the form of digital currency, with EMI’s. It provides Peer-to-Peer and EMI based lending for small business and micro-entrepreneurial projects.

LALA Card, a virtual and/or physical debit card (and in time to come credit card), is synced to the LALA Wallet and ensures that you have easy access to your assets. It will be usable at millions of PoS globally.

LALA Wallet will be your single point access to all financial services in the LALA World ecosystem based on your global identity – LALA ID.

LALA ID will be able to consolidate all physical and digital identity into a single secure & private ambient identity, pointing to a secured trusted dataset about the individual, thereby enabling easily individualized interactions in the physical and digital world across multiple vertical applications and complement existing identity solutions.