Uulala Ratings by CryptoStandard
A CryptoStandard Score of 7.4 and a Stable+ outlook are assigned to Uulala (Pre-ICO starts on 25 Mar, 2018).
Given the large size of Latin American underbanked and unbanked population, their banking needs are not well addressed. Our team believes that Uulala’s idea of bridging the cash-only consumers to the credit-based economy allows the company to enter a huge untapped market with limited competitors. Given the success in the first app launch last year, the company showcased its capability to execute its plan accordingly with prominent potential to expand. With better promotional strategies to gain more exposure, we believe the company can achieve substantial growth in its user base and future sales.
Uulala is a mission-driven organisation to facilitate the financial inclusion of underbanked and unbanked Latin Americans. The Uulala app provides financial tools such as digital remittance, credit building, cash rewards and micro credit offers through a decentralized platform for the population aforementioned. The use of blockchain technology (MultiChain and Uulala's proprietary decentralised database technology) facilitates a large quantity of small-sized transactions to take place quickly and transparently, as well as building standard credit scores and providing tokenized rewards for users who repay loans on time. As a whole, Uulala aims to act as a bridge for these underprivileged people to the credit-based economy, obtaining bank accounts, credit cards and most importantly, an easier life.
The analysis is based on our rigorous CryptoStandard Score model which is supported by over 80 parameters. The distribution of the score and the explanation are shown below:
Idea
Our team believes the idea is unique. Although the concept of a financial service provider and bank utilising blockchain for low-cost and decentralised transactions is not new in the market, Uulala is able to target the specific needs of Latin Americans which are underbanked or unbanked. The population, although underprivileged, means a large market untapped. Given the presence of real customer pain points and the ability for Uulala to specifically address it, we believe the idea is scalable and disruptive to the current market.
Competitiveness
Since Uulala operates in a niche market, the presence of competition is limited. Blockchain-based banks and financial solution providers target the mass market with limited strategic segmentation. Yet, Uulala’s services specifically catered for the Latin Americans, utilising MultiChain rather than Ethereum as its platform for better facilitating the large quantity of small-sized transactions, providing standard credit building on a moment by moment basis to assist them in returning to the formal economy. Thus, this alone is able to differentiate itself from other banking ICO companies and large firms like PayPal and Western Union.
ICO
In general, the soft cap is reasonable to continue the operation of Uulala. The numbers are reliable as the company has already been operating for a certain period of time. The hard cap is also reasonable compared to its peers, given the required infrastructural development need. Other ICO information is well-disclosed to investors.
Team
The team and advisors contain a good mix of entrepreneurs and tech experts, with some having worked in big firms like Ford. However, our team is concerned with the lack of blockchain expertise and ICO experiences of the team and advisors.
Community
The project, despite its great idea demonstrated, fails to generate a market hype in the blockchain community. Notably, the number of members and followers in the Telegram group, Facebook and Twitter is very small.
Marketing
Uulala are present on the major social media channels such as Facebook and Twitter. However, Uulala has not established much presence on major discussion forums like Reddit and BitCoinTalk. Uulala should also strive to increase its exposure on reputable news agencies.
Documentation
The white paper is detailed and includes all necessary information such as idea origination, ICO details, roadmaps and financials. However, it is advised that more languages of documentation should be available besides English.
Financials
In general, there are clear projected financials in the base case and optimistic case, which are reasonable considering their current user base. However, past financials should also have been shown for investors to make better decisions.
Reliability
Our team believes the reliability of Uulala is high given the established user base and functioning app of Uulala.
Feasibility
Our team considers the feasibility of Uulala relatively high. Uulala successfully identifies the pain points of the Latin American population and provides a workable solution for them. The huge untapped market is likely to support the substantial growth of the company, and the unique value proposition allows Uulala to avoid competing with major players such as well-established banks and e-payment systems. This makes the operation and profit-making of the company more feasible. Furthermore, the current infrastructural development progress demonstrates the capability of the team to execute the project according to the scheduled roadmap.
See their profile: https://cryptostandard.io/ico/uulala/
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