LALA World : An Ecosystem for the migrants and their unbanked families

- Desember 14, 2017

LALA means being happy and that is truly what we want to achieve – financial freedom, financial happiness, and financial accessibility to over 2 billion unbanked and underserved.

The migrant and their unbanked families in emerging and frontier markets have been suppressed for the longest time without any access to basic services, financial or otherwise. About 2.4 billion poor people worldwide are often excluded from free movement, basic rights which often leads them to corruption, crime, including slavery, human trafficking and in extreme cases, death.

Banks, financial institutions and even local financiers do not participate in these markets because they are not able to adequately assess price risks. Lack of reliable identification systems, financial data, unreliable intermediaries, zero credit history and unpredictable legal systems further limit the capital available for financial inclusion at grassroots. This uncertainty and severely limited access to financing and other financial products cripples’ individuals, micro entrepreneurs, small businesses, stymies growth and entrenches poverty. LALA World is all set to change that.

For decades, the current financial system has been controlled and centralised. Numerous attempts to create a central clearing system like SWIFT, CHIPS, various clearing houses, for domestic and international payments systems etc. are largely contractual arrangements between two parties with greater influence by geopolitical factors.

Blockchain comes as a blessing in disguise to truly create a decentralised, peer to peer network, distributed among the value holders. From humble beginnings in 2008, Blockchain and cryptocurrencies are becoming mainstream today. Further, developments in the blockchain space continues to take place at a faster pace than ever before. Several corporate, governments and developers are working on different aspects to improve this technology but there are three major aspects of Blockchain being implemented over the next few months which we believe will work wonders for LALA World and the unbanked.

What is LALA World ?

Global Wallet, Local Partnerships

LALA World (“LALA”) is all about migrants and their unbanked families. Its an ECOSYSTEM enabled by the LALA Wallet as a PLATFORM, a single sign on platform revolving around their issues and problems. Employment issues, digital ID’s, communities build up, government and NGO partnerships, health issues, and of course, a new financial ecosystem for the huge underbanked population by capitalizing the Blockchain revolution to bridge the gap between cash, digital and the crypto world.

By creating a whole new peer to peer ecosystem, LALA aims to revolutionize the way individuals, small businesses and micro-entrepreneurs transact, make payments, borrow money and associated products like insurances, domestic and Cross-Border remittances, cards and other general banking products.

LALA World Products

LALA is an ecosystem consisting of 5 major products :

LALA Transfer

A Peer-to-Peer local and global remittance backed by crypto as well as fiat

LALA Bill Pay

Local and International bill payments for you and your family

LALA Lends

Domestic and International peer to peer lending via crypto and fiat, individual and small businesses

LALA Card

Crypto and Fiat card synced to your Wallet and usable at millions of PoS globally

LALA Kit

Contains a mobile phone with pre-loaded LALA Wallet, LALA Insurance, LALA Card, Partners' products etc.

Single payment Platform for all your financial needs

The platform connects assets and businesses on blockchains to the real-world in a decentralized manner. Developers can develop security smart contract modules, businesses can connect their users and usecase to real-world payments.

LALA INITIAL COIN OFFERING

LALA Token is an ERC20 loyalty token, also referred to as utility token, with the functionalities as described in this Whitepaper. The funds raised in the initial coin offering ("ICO") will be used to further scale the platform, expand in more countries, assistance for local communities to build, investments in a small LALA Fund for the migrants, unbanked and hire more people on technology and business development. This is further detailed in next section.

We would like to highlight that LALA Token does not constitute a security in any form in any jurisdictions, and this Whitepaper is not a solicitation of investment and does not relate to any form of an offering of securities in any jurisdiction. Please read the Important Notice at the end of this Whitepaper for further clarifications.

1. HIGHLIGHTS OF LALA ICO•1 ETH will buy 1000 LALA Tokens.

There is a minimum purchase amount of 100 LALA Tokens or 0.1ETH per purchase.
Pre-ICO sales period will be from 25 November 2017 at 9 PM (Singapore time) to 15December 2017 at 9 PM (Singapore time). LALA reserves the right to revise and amend the Pre-ICO sales period at its sole and absolute discretion.
Feedback & review period will be from 16th to 31st December 2017. This will include feedback, implementation, launches in a few countries, numerous partnerships, testing and other significant news in various countries
ICO sales period will be from 5 of January 2018 at 9 PM (Singapore time) to 5 February 2018 at 9 PM (Singapore time).
US Dollars, Ether, BTC, and other cryptocurrencies as determined by LALA can be used to purchase LALA Tokens. Further details can be found at www.lalaworld.io

2. LALA TOKENS CREATION, RESERVES AND BREAKDOWN

LALA intends to raise 150,000 ETH from the pre-ICO and the ICO for further expansion,

development and other growth activities. That is a total of 150 million LALA Tokens to be

distributed to purchasers during the pre-ICO and the ICO.

LALA will create a further 100 million LALA Tokens for a total of 250 million LALA Tokens

(“Total Tokens Created”), subject to other features of LALA World.

Distribution of the Total Tokens Created will be as follows:

60% of the Total Tokens Created will be sold during the pre-ICO and the ICO period.
15% of Total Tokens Created will be allocated to LALA founders, early investors, technology teams, existing and future employees of LALA, and held in a pro-rata lock-in contract for at least 6 months
10% of Total Tokens Created during the ICO will be granted to advisors, consultants, community developers and will be locked in a pro-rata smart contract for 6 months, unless specifically agreed beforehand.
15% of the Total Tokens Created will be credited to the reserve. This reserve may be used for future token sale or other purposes as LALA in its sole and absolute discretion may determine.

The reserved LALA Tokens may be used for the activities below, if LALA deems

necessary:

Establishing research labs in cooperation with high profile universities across geographies for betterment of local communities.
Creating tutorials and educational materials for LALA network and developers using different Blockchains such as Ethereum and Bitcoin.
Organizing events and conferences to raise the awareness of the LALA network technology and facilitate market adoption.

Distribution of LALA Tokens will start within 30 days after the end of the ICO and trading should ideally commence on Q1 of 2018 when holders of LALA Tokens can start trading and transferring their LALA Tokens.

Therefore,