“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
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.
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.
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.
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.
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).
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.
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.
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.
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!