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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, and their unbanked 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 unbanked 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 unbanked 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 families.
  • 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 corporations 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 unbanked 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 are 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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LALA World Bounty Program: Blog & Media

LALA World Bounty

Hello people! We hope that you all have gotten a better understanding about LALA World Bounty Campaign by now. Let us take some time to delve more on the same.

As you know, the details are available on Bitcointalk forum: https://bitcointalk.org/index.php?topic=2296769.0

And yes, the budget for this bounty campaign totals 7.2 Million LaLa Tokens, 3% of the supply equals 4500 ETH or 1,350,000 USD according to our hard cap of 150,000 ETH.

All these Bounties will be paid directly to all eligible wallets at the end of Main ICO Phase.

The General Rules for the LALA World Bounty Program are as follows:

  1. Payment Address will not be changed. Once the LALA World bounty seeker applies for eligibility using an address, that address will be locked. Everyone is responsible for protecting their address and private keys. So please do not click on any links you receive through suspect looking email ids or slack PMs.
  2. The Bounty seeker must join our telegram group to participate in this Project’s bounty program. Without joining the telegram group, you will not be counted on any Bounty. The telegram link is: https://t.me/LaLaWorld

Let us talk about Blog and Social Media bounty:

We will reward all Bloggers, writers, youtubers, video creators, graphic designers and content creators who will add their support to promote LaLa token by writing reviews, blogs, articles in their website and blogs, and create video presentation reviews on their youtube channels and other sources.

Budget: 25% of total the LALA World Bounty Pool will be allocated for Blog and Media Bounty Participants. (1.8 million LaLa tokens)

 

We’ll divide all Videos and Blog/Articles into 3 Categories and will reward them as follows:

  • High Quality: 150 Stakes
  • Good Quality: 70 Stakes
  • Normal Quality: 40 Stakes

 

You can use our White Paper and website for getting the content (links provided in T&C section). You can also subscribe to our newsletter to get updates which can be used for content creation.

Link for resources: https://imgur.com/a/Cytrx

 

How to Participate?

Write your Article, Reviews, or Create Your Video and Submit your entry Using the form below: https://goo.gl/forms/MU19L0lUGFrWpvZu1

 

Here is the list of all blogs and videos: https://docs.google.com/spreadsheets/d/1p_Uc-jO0ce3RSqKQ8hZbOATJ2vIVNAWeL5lgvZP7ecY/edit#gid=1063049049

 

Here are the Terms, Rules, and Conditions:

1: Low-Quality Articles and Videos are not Accepted.
2: Article and Videos Must Be genuine. Copying content, articles or ripping off stuff is not allowed. (You can use official Images, Logos, Graphics, etc, posted on the Lala World website, ANN thread, Facebook page and Twitter handle)
3: Articles must be Longer than 500 words; less than 500 words will not be accepted.
4: Videos must be at least 1:30 minutes long; shorter than that will not be accepted.
5: Article must have these 2 Links, (a) official website: https://lalaworld.io/ ;  and the (b) Whitepaper: https://lalaworld.io/whitepaper.pdf ; and an additional link of your own Bitcointalk profile at the bottom of your article to prove your authorship.
6: In the description of the Video, you must have one link of your official website, one link of the whitepaper, and one link of your own Bitcointalk profile to prove your authorship.
7: Medium, Steemit, Newbium, and other general/free blogging platforms are allowed but only one post of any person will be accepted in those platforms, and 3 Posts/Articles will be accepted for .com, .net, .org, and other premium websites and blogs.
9: Manager and Owners will have the rights to change any rules, or make any changes if necessary.

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LALA World Bounty Program: Translation Bounty

LALA World bounty

Hello people! We introduced you all to LALA World Bounty Campaign in the previous blog. As promised, here we are to talk more about the campaign.

Of course, the details are available on Bitcointalk forum: https://bitcointalk.org/index.php?topic=2296769.0

And you also know by now that the budget for LALA World bounty campaign totals 7.2 Million LaLa Tokens, 3% of the supply equals 4500 ETH or 1,350,000 USD according to our hard cap of 150,000 ETH.

All these Bounties will be paid directly to all eligible wallets at the end of Main ICO Phase.

The General Rules for the Bounty Program are as follows:

  1. Payment Address will not be changed. Once the LALA World bounty seeker applies for eligibility using an address, that address will be locked. Everyone is responsible for protecting their address and private keys. So please do not click on any links you receive through suspect looking email ids or slack PMs.
  2. The LALA World Bounty seeker must join our telegram group to participate in this Project’s bounty program. Without joining the telegram group, you will not be counted on any Bounty. The telegram link is: https://t.me/LaLaWorld

 

Let us look at some details today for the Translation Bounty Campaign:

Budget is 20% of total bounty pool (1,440,000 LALA Tokens), reserved for all valid translators and community managers. Translate LaLa Token ANN thread, Whitepaper and Manage local community/thread and get your Reward.

Payments will happen as follows:

  • Whitepaper translation: 200 stakes
  • ANN Thread Bounty thread translation: 150 stakes
  • Moderation: 5 stakes for each post (only OP)

To reserve a language, please post your interest with some of your previous translation work.

 

 

Here are the Rules and Terms for Translation Bounty:

1: Translations must be original. Using any kind of tools such as Google are not allowed. If found using these tools, the translator will be blacklisted.
2: ANN thread translator will be responsible for the moderation as well (we have additional rewards for moderation). The translator must keep the thread active by translation of official announcements, news, posts.
3: We do not want any Single Post Dead Thread. If you failed to keep the thread active and up to date, your reward can be reduced to 50% of the actual payment, or you would simply be disqualified.
4: Increasing the moderation post count by spam posts, posting false posts or paying other to ask questions in your thread is not allowed.
5: Newbies, i.e. users with no previous experience of translation will not be accepted. Always ask before beginning translation and post your previous translation work.
5: Manager and owners reserve the rights to add rules, or make any kind of reasonable changes.
More on LALA World Bounty Program in our next blog! Stay tuned!

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

cryptocurrency

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.

Cryptocurrency has been in existence for quite some time but was not properly acknowledged. In the present scenario of digital advancements and evolution of money transfers, the process and concept of cryptocurrency have 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 the cryptocurrency. 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 cryptocurrency, 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.

Blockchain startup LaLa World aims for financial services for all

financial

Traditional banking started some four centuries ago when a bunch of extremely clever Assyrian and Sumerian traders began making grain loans to farmers and traders carrying goods between cities. Lenders in ancient Greece and Rome sat outside temples and made can and also deposited money. The birth of the banking system as we see today can be traced back to Renaissance Italy, in the affluent cities of Florence, Genoa, and Venice.  Little did these “first bankers” realize that their actions would spawn, arguably, the most essential and robust system that would drive the economic engine of the world.

The Rise of the Goliath

Historically, bankers, through the absolute power of money, have always endeavored to make profits for themselves and their stakeholders. They have cared less about the people on whose genuinely they have built their financial empires. Their priorities have always been with the rich and affluent customers who have the ability to bear their exorbitant transaction charges and sundry fees. With the nationalization of banking institutions and the wide variety of choices available to the paying customer, banks have reluctantly aimed at providing financial services to the poor and marginalized people of the world.

Is Goliath undermining financial inclusion?

Financial gurus and umbrella organizations have realized, almost as an afterthought, that unless true financial inclusion occurs, the global economy cannot aim to run with its real potential. But the traditional banking system is so entrenched in its processes and limits and transaction charges that it creates hurdles for people to have unfettered access to their own money. The time was ripe for a financial revolution.

Here comes David!

The introduction of Bitcoin was marked by a frenzy rarely seen in the financial system of the world. While we have been witness to the “Apple moment” and the “Google moment,” we haven’t seen anything even close in the dour, dry markets of money. But the audacity of Satoshi Nakamoto to introduce a currency that is independent of any government or isn’t controlled by any bank was nothing short of a David and Goliath moment.

Blockchain

But the greatness of the founder(s) of Bitcoin can be truly gauged by understanding the source code of Bitcoin – blockchain technology. While Bitcoin is nothing without Blockchain, the technology itself has unlimited uses. And today, “blockchainepreneurs” are disrupting traditional sectors, industries, and markets by tapping the limitless potential of this exciting technology. And a subset of these, “the cryptopreneurs,” are using this technology to create a financial ecosystem that is democratic and genuinely inclusive. Such a system has the power to reach even the most marginalized of people in the world in an attempt to bring them into the mainstream and make a positive impact in their lives.

LaLa World, a blockchain-powered financial ecosystem

LaLa World, the brainchild of experts in the financial system, was a result of dissatisfaction about the inherent shortcomings and apprehensions of the traditional financial system to bring the underbanked and underserved population of the world into the financial mainstream. LaLa World decided to venture where “no banker has gone before.” LaLa World aims to touch the lives of the vast population of the world whose lives haven’t been affected by the global financial system.

Blockchain

At the heart of LaLa World is the LaLa Wallet, a peer-to-peer ecosystem that aims to revolutionize the way in which people and micro and small businesses make transactions, payments and borrow money. It will also change how people buy insurance, remit money, perform daily transactions through cards (both virtual and physical) and purchase banking products.

Serving the underserved; banking the underbanked

There are still more than 2 billion unbanked people in the world. That is more than 25% of the global population. More than 50% of adults in the poorest households are unbanked. How could one expect the global economy to fire on all cylinders when one in every four people in the world isn’t part of its financial system? Also, the traditional system’s over-dependence on physical processes and a cumbersome identification process makes it difficult for many people to have even a bank account, leave alone more complex financial transactions.

Blockchain

The emergence and popularity of connected smartphones have offered a flexible, seamless and secure device to the financial systems to exploit and bring more people under the global umbrella. LaLa World appreciates the importance of such a connected technological device to join the millions of underbanked people to a unique financial ecosystem that is powered by blockchain technology.

Blockchain

Anybody can own the LaLa Wallet on their smartphone and be connected with a world of opportunities and possibilities. The Wallet is secured by a global ID that includes state-of-the-art biometrics and physical identifications all digitized into a unique ID – LaLa ID. The Wallet allows peer-to-peer microlending, affordable domestic and international remittances and daily financial transactions, all of which can be done using crypto or fiat assets. A digital card (debit and credit) can be used for any and all transactions that can be done with a traditional card but with the added advantage of very low or zero charges and with the opportunity to earn more crypto assets with every transaction performed. Yes, using LaLa Wallet is rewarding as much as it is comfortable.

Towards absolute financial inclusion

The World Bank believes that financial inclusion is a key enabler to reduce poverty and bring about prosperity. It has also charted out the Universal Financial Access Plan where it aims to bring about 100% financial inclusion by the year 2020. LaLa World has a unique business proposition, one that is driven not by profits but by the passion for reaching every underbanked and underserved person in the world. It aims to be a pure vehicle of financial inclusion. LaLa World is all geared up to bring this dream into reality.

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Empowering unbanked with a brand new financial services Ecosystem : LaLa World

new financial services

Just about a year ago terms like “blockchain,” “Bitcoin” and “cryptocurrency” would have at best garnered a raised eyebrow signifying wariness or plain ignorance. Today, however, the situation has changed, if not drastically. We often get dragged, happily, into discussions on things like the “Next Big ICO,” mining (not metal ore, of course!) and smart contracts. And yet only a few million people around the world truly know about what blockchain technology is and how it is poised to revolutionize the financial markets and introduce new financial services around the globe. This is a mere handful as compared to the 7.5 billion people who currently live on this planet.

Cryptocurrencies (Bitcoin, anyone?) are based on blockchain technology. While we won’t go into details of what this technology is, we must emphasize that cryptocurrencies are its finest offspring. If there was anything truly democratic in this world, cryptocurrencies are those. Consider this – nobody manufactures them, nobody controls them and yet they hold the power to perform financial transactions in an open and safe environment.

Take your time to mull over this exciting piece of information and digest it to create a vision of a world with true financial freedom and new financial services. In the meantime, allow us to hold your hand to show you a possibility that is both exhilarating and life-altering.

But first, the dark clouds!

According to the Global Findex Database, more than 2 billion adults remain without a bank account. The majority of this population resides in the developing and grossly underdeveloped regions of the world. That is understandable. But it is not just individuals. Many small businesses and micro-enterprises do not have access to safe and secure banking. These people and businesses often reach out to spurious middlemen and unscrupulous lenders who exploit them for their own advantage. The result – financial losses to the business and loss of confidence in the possibilities of growth and progress.

new financial services

Banks and other financial institutions find such complex markets risky and hesitate to participate, whereas these are the very regions that have the highest potential for growth if given financial inclusion and participation in the mainstream banking system.

The silver lining!

Blockchain technology, as we mentioned earlier, has the ability to truly bring about unprecedented levels of financial inclusion in a never-before-seen democratic fashion. It can create a safe, secure and highly flexible ecosystem. It can effectively bring many stakeholders under a common umbrella to provide financial inclusion and monetary stability for the millions of unbanked and underserved.

Using cryptocurrencies to power the current financial services, a system can be developed to integrate cryptocurrencies into the lives of the people around the world. The result is an operation that is cheaper, safer and decentralized.

The Hoopla about LaLa!

LaLa World aims at creating a unique financial services ecosystem that will integrate the power of blockchain technology and cryptocurrencies into the existing financial framework. This marriage of old world and new world systems is the key to providing the advantages of cryptocurrencies using the massive reach and network of the current financial services.

LaLa World has created an Ethereum-based wallet that offers facilities like peer-to-peer transfer of local and global remittance, local and international bill pay and a globally acceptable LaLa Card. The most exciting feature of this system is its facility to promote peer-to-peer lending and borrowing via EMIs. This will greatly impact small and micro businesses which do not have the wherewithal to apply for loans from banks and non-banking financial institutions. This can be a major boost for entrepreneurial projects by passionate and talented individuals wanting to bring about a positive change within their communities.

new financial services

Lala World is set to change the game as far as usability and flexibility is concerned. Imagine using your crypto-coins via your smartphone, virtual card or a physical card. The LaLa Wallet has an inbuilt exchange mechanism that can be used to convert one “coin” into another.

Parting Thoughts

Surprising as it may seem, 64 million adults (that’s 12 % of adults in the world) in sub-Saharan Africa have mobile money accounts. That is compared to just 2% of the adult global population in the world who has such an account. While we may harp on the speed at which the developed world has caught on to the “digital wave,” these numbers tell a different story. This means that people in all parts of the world – developed, underdeveloped or developing – are ready to join the digital banking bandwagon. They only need to be given the opportunity.

The World Bank and other such umbrella organizations have always aimed to provide financial inclusion as a means to end poverty in this world. A democratic, safe, secure and flexible financial infrastructure like LaLa World will play an integral role in the achievement of these lofty goals.

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