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underbanked Archives - Lalaworld Blog

LALA focuses on bringing back The Privileges and Rights for the Socially Excluded

LALA focuses

LALA focuses on bringing back The Privileges and Rights for the Socially Excluded. Social justice is when there is co-existence and no one is left behind. It is when the rights of the indigenous people and migrants are promoted and all the barriers faced due to race, cast, gender or culture are removed. Migrants are no exception to social justice; there are almost 258 million international migrants, out of whom 56% are men and 44% women. Being suppressed they are vulnerable to exploitation and mistreatment.
This social justice day LALA focuses on bringing back the privileges and rights of the migrants and treat them equally.
We at LALA World aim for providing a support system and a platform to the underprivileged and undeserved. In the banking sector about 2.4 billion poor people worldwide are often isolated and excluded from the basic facilities due to lack of proper identification, financial data or zero credit score. In this digital age Blockchain comes to the rescue for the unbanked and the underprivileged, creating a decentralized peer-to-peer network among the value holders.

The economy works best when it benefits everyone, LALA World provides a new platform which is an engine of inclusion.
LALA’s sole purpose is to make human lives better. We don’t know how anyone can justify abusing other Human Beings in such barbaric ways. LALA is not charity either because charity does not work. We are a social business, which makes money and spends money for betterment. LALA Tokens are here not because the Tokens are a fad but because we could not think of a better way to incentivise everyone while building this huge global social business for real users to stay on LALA Platform and get LALA as rewards. It provides us the motivation to build this community, while they build on their economic inclusion and further in return help by participating in community projects because they firmly believe that this can change everything.
The vision was always to bring the unbanked together for a purpose and give them what’s rightfully theirs and connect them via an ecosystem. LALA World is that Ethos – Sankalp Shangari
#behuman #belala

LALA World : Eliminating The Woes of Migrants and Their Unbanked Families

LALA is all for Happiness, financial freedom and upliftment of the unbanked. LALA team has been working on this for over a year now. Headquartered in Singapore, we all have a common mission, to uplift the migrants, unbanked and their families and connect them via an Ecosystem, which is not just financial but education, health, employment, to make them self-sustainable in the long run. LALA World is that Ethos. In this article, I wanted to highlight, very simply, the reasons why we are doing this, what we want to achieve and how LALA World is different.

  • Self Sustainability – by providing an Ecosystem – not just one or two niche services. The entire ethos around this populace in a strange new country and for families back home adapting to this new realm, is difficult, least to say. LALA wants to be THAT ecosystem which takes care of those issues in entirety. An ecosystem of trust and reliability. Someone there for them always. As we expand in countries across Asia, Africa, and CIS, we are partnering with local governments for subsidies, support and systematic change. Communities and camps with NGO’s to educate these migrants and their families. Education via these local channels is very important as ignorance is the biggest factor hampering growth. Health via a network of volunteers and doctors, Visa troubles via local consulate partners, employment issues via local lawyer groups and governments, its all about the LALA ECOSYSTEM.
  • Seamless, efficient and cost-effective technology – we have one of the best Blockchain teams and Blockchain by definition is about freedom from centralization. By removing these centralized networks of brokers, intermediaries, corporations, banks and educating the unbanked, we envision to achieve the unthinkable – a true peer to peer network for financial transactions, lending, rating, records etc. Simply put – Leveraging the power of blockchain to bring together 2 billion unbanked.
  • LALA ID – We believe the first step towards inclusion is to identify the person. There have been several attempts before but when working with such closed knit community engagements, LALA ID becomes a very powerful tool on blockchain, not only for governments, corporate and NGO’s but also for users themselves, to digitise them and their records and bring them into the world they have been deprived of for the longest time. LALA ID would be one single point of Identification combining a mix of software and hardware to bring over 1 billion people from oblivion to reality. Partnering with governments, cities, communities and NGO’s makes it possible. LALA Coin will be the enabler and incentivize people for using the network and digitizing their records at each and every step.
  • Cash is King – Cash is still the dominant medium of exchange in these areas. Let’s face it, this is NOT going to disappear overnight. The Ecosystem that LALA is building complements this with technologies like GPS tracking where a user can meet other local users to transfer LALA Coins for cash. This becomes an enabler for LALA Coins and ultimately the aim is for LALA Coins to becomes their own medium of exchange. This is not innovation, it’s already happening in over 60% of Africa via mobile money and alternates like m-pesa. Right incentives, frequent incentives, community engagements, micro-credits, localized support systems, all become an enabler towards self-sustainability and greater adoption of LALA World.
  • Third Party API’s – CSA – Corporate and Strategic Alliances – We believe in partnerships. We cannot do this alone. We are very clear of our strengths but at the same time, we are also aware of others strengths and availability of best solutions. The solutions we provide can be used by any third party Wallets, financial systems, niche players and global corporate to develop their own networks – as long as they are used for social upliftment. This further creates network effects and enhances the value of the LALA World Ecosystem. Rome was not built in a day and certainly not by Ceaser himself. Partners are what creates a true Ecosystem. We have developed these in the past and we are again going to do this on a global scale.
  • Local Networks – LALA team has extensive on-ground experience in these emerging markets. Having seen this first hand, created opportunities, build and sold companies, LALA team is one of the most competitive to be able to create these network effects. We are very focused where and how are we going to target these markets. Given the migrant issues and our strength in these markets, our initial focus is their families back home and themselves. In their home countries like India, Philippines, Bangladesh, Nigeria, Turkey etc, LALA is not only creating local partnerships as described above but also launching awesome experience via LALA Shops, LALA Franchises and LALA Force (on the motorbikes) to deliver services and create support groups. Proper training and tools are being deployed to create a local level structure to support LALA World Ecosystem.
  • We believe in the betterment of society. Billions of human beings suffering for too long. Capital markets, geopolitics and above all ignorance takes away even the basic amenities from them. Its time someone did something. LALA World and LALA team is on a mission to uplift these people. every bit helps and we need your support for this noble cause. Real people, solving real life issues, with real partnerships and real products.

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”

— Steve Jobs

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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.