Cryptocurrency: LALA World

About 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.

LALA TECHNOLOGY AND MVP

Blockchain is a really good, resilient system. The interesting thing about bitcoin is

since its inception, no one’s cracked it. Yet it’s completely in the open.

-Alex Batlin

To implement a seamless Blockchain technology, LALA team has been constantly sticking to some core principles and the real pain it is trying to solve for the unbanked. We have come to certain basic conclusions based on the geographies we intend to cover and the products we want to offer. There are some rudimentary issues in financial inclusion of these underprivileged populace that has to be solved by a mix of traditional cash, existing agent networks and advanced but seamless technology.

Few key areas that we have considered while building the tech:

Cash is still the dominant medium of exchange in these areas
Third party intermediaries and brokers are expensive
Peer to Peer is the road we want to eventually take for all LALA products
Smart contracts can be used to automate and create trust between participants
Exchange of value should be fast and efficient
There has to be a medium for store of value as well
Most of this population do not understand crypto, how it works and think it is agnostic

DESIGN AND APPROACH

Most LALA Wallet users have smartphones but cannot afford expensive machines. Blockchain is maturing and reaching to a stage where there is currently a need for a single class, secure strong governance (decentralized) value exchange that uses maximum distributed computing so it is efficient and scales to millions of transactions per second when powered/powering billions of devices (single class of machines) while maximizing security and minimizing transaction fees (to almost zero). To achieve this, we are focussing on the following stack of technologies:

To achieve this, our base technology has to be very strong and we have studied various Blockchain platforms like Ethereum, Hyperledger and Bitshares, To make LALA World scalable we are looking at various off-chain solutions like raiden, Ethereum’s Lightning Network and Plasma, but they are all still in nascent stages and still testing.

We have tested and used Bitshares in the past. It’s a great technology pegged to all 180+ countries via USD, but uses Graphene and Graphene was hard to stabilise and continued freezing. For several other reasons we are staying clear for now.

DEVELOPMENT ROADMAP

We have a clear path to our vision and we have prepared a development roadmap for our technology. Our team prefers a staged approach which means that each stage will have its deliverables:

Stage 1. We are launching a basic version of LALA Wallet in Malaysia and India by first week of November. An initial POC with two products will be released by November as well, just in time for this Pre-ICO. The System will be working on Ethereum Testnet blockchain with real user data. This will help us prepare smart contracts and get feedback from the community, real users and make sure that this solution is viable.

Stage 2. LALA Alpha platform will be deployed on Ethereum Mainnet blockchain. Client onboarding via LALA ID, feedback gathering and improvement. Preparation for beta. This should happen by January 2018 in India, Malaysia, Bangladesh, Vietnam, Turkey & UAE.

Stage 3. A full working product will be ready by February 2018 with a fully functioning backend server with telematics integrations for real customer data gathering and prediction. This will include a Fiat Wallet, Cross border remittance and P2P lending to begin with.

Stage 4. LALA Beta. Fully functioning platform with key features in place to be released by March 2018 and open to selected group of geographies and customers. We are looking at over 10 Countries right now as depicted on the partnership page.

Stage 5. LALA 1.0. Opening system for public usage and enabling massive adoption across geographies will happen by April 2018

Stage 6. Further development to increase amount of transactions usability and throughput of the platform.

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,