We all can relate to a digital economy with the credit card in our pockets, online banking, and e-wallets installed on our smartphones. But it is significant that the digital economy keeps adopting the new innovations offered by the emerging technologies. For example, Blockchain has many unique features that impart fresh angles to the business models, business networking and opportunities of international money transfers.The digital economy can truly be accomplished globally only if all enterprises across geographies are given an opportunity to register themselves on a platform which is decentralized. Properties of Blockchain can give world enormous choices which can be put to execution in a variety of industries. Benefits generated from the Blockchain technology can be the stepping stones in achieving Global Digital Economy.
“Our digital future is about enabling better productivity and decision-making to enjoy a better quality of life”YacineBaroudi
Liberating an individual by providing him with the facilities of money transfer, peer-to-peer lending, with whom so ever he wants to, is the true meaning of a Digital Economy. At present, this is obsolete in many developing countries. But there are entrepreneurs like the Founder & CEO of LALA World, Sankalp Shangari, who are putting their energy in reaching the unbanked population to help them acquire digital independence. LALA World has developed multiple Blockchain-based products that would empower migrants & the disadvantaged communities by providing them financial freedom.
Read more about it: WHY LALA WORLD IS THE NEW CRUSADER OF PEOPLE’S FINANCIAL FREEDOM
The world today remains connected to the internet mostly due to the social media. In Malawi, where birth registration rates are only 2%, recent data suggest that 4% of the population is on Facebook — and climbing (Source: UN.ORG). If people find it fascinating to register themselves on the social media through internet, it clears the cloud on the misconception that Blockchain technology cannot reach everybody. People who are not even registered in government accounts, have internet access which proves Blockchain potentially can empower them all.Government and enterprises can unite to work towards bringing about a positive change in the plight of the disadvantaged section in these developing countries and can reach maximum population through their smartphones. The number of smartphone users is forecasted to grow from 2.1 billion in 2016 to around 2.5 billion in 2019. 36 percent of the world’s population is projected to use a smartphone by 2018, up from about 10 percent in 2011. (Source: Statista)
It is estimated that Global digitalization can be achieved by 2030 as more projects taking on real challenges in different industries are cropping up with novel ideas to utilize the Blockchain power. What truly needs to be done is to generate awareness in the people about benefits of using this meticulous technology.
Read more about it: How LALA World Is Going To Re-Define Ways Of The Alternative Banking
Blockchain offers great solutions with features like:
- Increased Transparency
- Lower cost
- Greater security
- Faster settlement
For LALA World, financial liberation has been the focus. Following products can help the unbanked and migrants extensively:
- LALA Wallet: Combines multiple financial services, keeping in mind a global seamless ecosystem.
- LALA ID: After the wallet creation, fingerprints, facial recognition, and other biometrics are captured to assign a unique Id.
- LALA Lend: Provides seamless opportunity for peer-to-peer lending and microlending.
- LALA Transfer: Local and global remittance via Blockchain-based platform.
- LALA KIT: Every Kit holds a card and an android phone which can be made available to people at low cost. It can also be delivered at the doorstep and has online ordering facility.
LALA World wants to contribute to digital financial ecosystem by making itself available to people worldwide. GLOBAL DIGITAL ECONOMY is not a dream but an opportunity for all technology enthusiasts to come up with new ideas in order to make a difference.