L-Pesa - A financial application for small businesses - COINSAURUS CRYPTO


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Monday, March 19, 2018

L-Pesa - A financial application for small businesses

Hello all how are you?? Back again with me on this blog that discusses an ICO project. This time I will discuss the project named L-pesa. Immediately, here's the explanation.

L-pesa is a financial technology platform that provides new financial tools for consumers and small businesses in Africa and Asia. L-Pesa was launched in Tanzania in 2016 and has issued over 38,000 loans. L-pesa's vision is to improve people's lives through access to credit and efficient financial services.

The idea for L-Pesa was incubated for a decade, and business was launched at the time. There are four important market forces gathered to allow rapid scaling, including:
  1. Big Data, Artificial Intelligence, and Blockchain
    The new tool allows the storage of large amounts of data and extensive data analysis at a small cost from a few years ago. Advances in artificial intelligence provide new opportunities for automated loan guarantees. Blockchain technology enables faster, safer, and cheaper exchange of values.
  2. Alternative Credit Data
    L-Pesa has developed a unique exclusive credit rating model based on user behavior combined with traditional and alternative credit data.
  3. Mobile Technology
    Mobile finance services such as M-Pesa have been available in many countries and support both quiet and unreachable sectors. Based on market penetration of mobile phones (smartphone and feature phone), mobile money services such as M-Pesa, Tigo Pesa, and Paytm have grown very rapidly and have enabled L-Pesa.
  4. Biometric identity
    Traditional microfinance relies on a wide branch network because identity verification is not possible online and is difficult to do privately. Biometric IDs will result in dramatically reduced costs and the ability to provide financial services without a physical branch network.
The process of L-pesa is:
  • Users register accounts in L-Pesa, often respond to social media messages or SMS marketing messages.
  • Users add documentation to their L-Pesa account, usually identification documents such as driver's license or passport.
  • L-Pesa staff verifies identity. Most of the work is automatic
  • User submits an initial loan application, usually for the local equivalent of $ 1.00.
  • The next loan application is handled in the same way that is automated
  • Once the loan is approved, disbursements are processed in real-time using mobile money services such as M-Pesa or Tigo Pesa.
  • Users are given a payment plan and are expected to make periodic payments on the loan. Repayment is also done by using mobile money service. Users can make prepay without penalty. Payment arrears will impact the user's credit score and will generate an automated message to the user. Handling delinquency is very efficient, resulting in a loss ratio of less than 10%.
  • User support is handled by the L-Pesa back-office team in Tanzania. User support is available in English and Swahili via social media, email and phone channels.

The advantages of L-pesa are:
  1. L-pesa gives more trust to its clients
    L-Pesa starts a relationship based entirely on trust, believing that you will repay your loan on time. Once you make the payment as expected, you are rewarded for being given the opportunity to borrow more money.
  2. No hidden fees
    You will know what your interest rate is before you start, and also be given all the information about additional costs.
  3. Fast application process
    Applications can be completed in minutes and if there is a problem, you are given the opportunity to complete. Furthermore, there is no need for extensive documents. All you need is your mobile phone and national identification to start the loan application process.
  4. Excellent customer service
    L-Pesa offers microloan services primarily in your mobile banking, but that does not mean you will not get the help you need from the customer support staff.
  5. For everyone
    Anyone can use L-Pesa as long as they are over 18 years old and have mobile banking.
That's the explanation of L-pesa. See you again in the next project discussion.

The LPK L-Pesa token

The token distributed during the token launch is known as the LPK. The LPK token is a standard ERC20 token (on the Ethereum platform) that allows one to use the LPK applications. The utility unlocked by the LPK token is the ability to participate in token offerings of LPK project, get access to functionalities only unlocked through the use of the token that is exclusive to the L-Pesa network. Participation by members is the key to the LPK platform. Over time, more functionality will be released that helps increase network utilization through tokens for the benefit of the network.
The smart contracts deployed in the initial stage of the project consists of two main modules:
  1. Token contract which follows the ERC20 standard.
  2. Crowdfunding contract which allows campaign participants to send their contributions to ETH.
The crowdfunding smart contract enables the crowdfunding campaign/ICO.
Contributors will be provided with a contract address and instructions on how to send ether to it. Based on the time of the campaign, different amounts of bonus tokens will be available in addition to flat amount of tokens per ether.
The campaign will have two general stages:
  1. Presale, during which the minimum amount of contribution will be set to 0.5 ETH and the bonus offered will be 50%. The presale will last for 17 days.
  2. Public sale will last for 30 days, during which the minimum amount of contribution will be set to 0.25 ETH and the bonus offered will be 0%.


Team Ron Ezra Tuval – Founder, CEO Bo Henriksen – Owner, CMO
Jordan Balindo – Country Manager
Andrew Langat – Country Manager
Dominic Gichomo – Country Manager
Amitabh Roy – Project Manager
Angualia Daniel – Legal Counsel
Khaya Maloney – Operations Manager
Desiree Domo – Copywriter & PR
Uttam Kumar Karmakar – Designer
Malcolm Ngugi – Legal Counsel
Bernard Kipkuri – Support
Mselem Said – Director
Leonard Jackson – Marketing support
Yunia Warioba – Support
Analisa Mtetemela – Support
Sandipan Paul – Accountant
Riaz Laskar – Developer
Somsubhra Saha – Developer
Advisors Tamir Hodorov – Hodorov Law Firm Paulii Good – ICO Social Media & Marketing Advisor
John Petersen – Business Development
Steve Good – Strategic ICO Advisor
Bogdan Fiedur – ICO Advisor and Blockchain Tech
Kevin Donovan – ICO Advisor
Shaun Saunders – PR ICO Advisor

Quik Links

ANN Thread

writen by : Ludmilla
bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1064448;sa=summary
myetherwallet adress : 0x29ac4A201C36b7922430F0A37976C1bA1c617339

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