LALA World — Empowering The Underbanked With a Brand New Financial Services Ecosystem
LALA World, based out of Singapore is a Financial Ecosystem with digital wallet for cryptographic assets. It serves as a distinguished platform for carrying out transactions with much ease and dealing easily with cryptocurrencies, which is slowly creating its niche as a popular form of new-age currency. When it started, the concept of cryptocurrency was quite vague and there was hardly any awareness regarding the upcoming technological change. In the present-day scenario where massive amounts of data is being stored into tiny chips, the inclusion of Blockchain and Cryptocurrency is another technological advancement aimed at making our lives easier. LALA World creates an independent global platform with an infrastructure that helps promote this wave by creating a global currency.
LALA World facilitates a complete process, right from income to expense, all on one user-friendly platform to eliminate the various kinds of problems we face during the exchange of goods and services. Hidden charges, technology and infrastructure, currency exchange rates, possible privacy breaches and government interference, are all considered as drawbacks of the currently prevalent ways of money transfer. These factors serve as a hindrance to the fast-paced lives that we tend to live. With security complications and the various gateways of merchants, the process of doing transactions is quite hectic and monotonous. LALA World has come up with a legal, efficient and stable environment for doing transactions, weighing more towards the population that doesn’t have easy access to banking services.
When around 2.5 billion people own a smartphone and more than half of them have access to the internet, it’s time to forego the unnecessary habit of carrying plastic currency in our pockets. LALA World comes as a complete ecosystem with a wallet platform on your phone, that helps you transfer funds, pay bills, avail insurance, etc. Conventional banks have an array of services they provide and each has a different process of enrollment, terms, and conditions that come along with it. With LALA Wallet, your fiat currency is converted into a single variable, which makes the management of your account better and gives you more control over it.
Transferring cryptocurrencies (money) using Blockchain is incredibly fast compared to other money transfer portals. Unlike Western Union or MoneyGram (the front runners in money transfers globally), that take a specific amount of time to complete a successful transfer whereas the cryptocurrency works way faster under the blockchain mechanism. And not just fast, the process is cheaper, since the network ensures the elimination of third parties thus negligible cost possible. The complete network is devoid of any privacy leak and the process itself ensures no transfer of personal data. With the exclusion of a bank, there is no third party snooping around on your accounts. Blockchain mechanism distributes transaction processes to shareholders on the network that span across the globe. By eliminating the backend infrastructure, a crypto vendor doesn’t need to worry about electricity, data maintenance and volatile customer-service interactions.
With removal of such minor loopholes in the online banking system, LALA World’s comprehensive ecosystem can be accessed from any mobile device allowing trades anywhere in the world with the help of internet. There is no requirement of obtaining permissions from various authorities to use this service as it is a software free for download and after installation you can make cryptographic transactions without any hindrance of borders. Yes, the vision of LALA World is currently a little partial towards the underbanked population of the society, but with more exposure and awareness the concept will reach all levels of society and create a different kind of economy for everyone, easing money transfer and aiding development on a global scale.