10 simple ways LALA World is empowering the underbanked

LALA is all for Happiness, financial freedom and upliftment of the unbanked. LALA team has been working on this for over a year now. Head quartered 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.

1. 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.
2. Seamless, efficient and cost effective technology — we have one of the best Blockchain teams and Blockchain by definition is about freedom from centralisation. By removing these centralised networks of brokers, intermediaries, corporate, 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
3. 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 incentivise people for using the network and digitising their records at each and every step.
4. Cash is King — Cash is still the dominant medium of exchange in these areas. Lets 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, its already happening in over 60% of Africa via mobile money and alternates like m-pesa. Right incentives, frequent incentives, community engagements, micro credits, localised support systems, all become an enabler towards self-sustainability and greater adoption of LALA World.
5. LALA Coins — the central single currency system — thanks to Blockchain. LALA incentivizes everyone — short term holders, long term investors as well as real users with rewards based platform — LALA Wallet. Further third party API’s referral programs, redeemable coupons create a network effect on a distributed ledger making it very unique. Networks grow with users and adoption. LALA has real partners, real adoption. This leads to greater network effects leading to more users, more products, and ultimately to a positive loop. Everything, always resulting in true betterment of people and society like never before. LALA Transfer, LALA Lends, LALA Insurance, LALA BillPay etc all work on the central core premises of our values and single currency — LALA Coin.
6. 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 is what creates a true Ecosystem. We have developed these in the past and we are again going to do this on a global scale.
7. Investor rewards and social impacts — LALA is not only about users and improving their lives. We are also going to support and enhance value for the people who believe in us from the beginning. Our list of partners and investors continues to grow and LALA has some innovative plans to enhance that value. People investing in us are the ones who want to see real change with a real business, something lacking in most large corporations today. With LALA, we provide opportunities to invest in local community projects. LALA matches or provides support internally or from governments and other groups. Projects are rated by peers for various parameters and also have a CSR element. This earns you more LALA Coins as rewards to promote these projects and has further incentives for people who invest via their LALA Coins. Further plans are described here in the LALA Whitepaper like social participation rewards, LALA Coin lending initiatives, sponsorships for your local communities you prefer etc.
8. 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 focussed 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.
9. KYC / AML — Financial inclusion comes with its own issues and KYC / AML is one of the strongest. LALA team is very well aware of this. We are building in house blockchain solutions for KYC and have partnered with some global leaders on AML and CTF to embed this further into LALA ID System. Further, we shall be using enhanced biometrics (where available) to create a global & robust KYC system. In weeks and months to come we shall be announcing some very large global partnerships that will prove the credibility of the system further.
10. We believe in betterment of society. Billions of human beings suffering for too long. Capital markets, geo politics 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

Originally published at https://www.linkedin.com on October 15, 2017.