LALA World wants to create a fresh P2P ecosystem which will enable it to change the way startups, small businesses and entrepreneurs make their payments. The team wants to offer borrowing-lending facilities, cross-border remittances, general banking and insurance services. By using the blockchain technology, the company hopes to ensure that decentralization, transparency, assurance and enforcement are achieved when payments are made.
There is a rising number of the unbanked and the under-banked in the world, especially in the emerging markets. It is estimated that about 3 billion families and individuals are not able to access basic banking services. But while the governments and financial institutions are in control of how financial world operates today, the digital currency has not solved the problem of enabling every person access financial services. Among the reasons why people are not able to invest in cryptocurrency even though it is perceived to be the alternative to fiat currency include;