Wala Financial Platform
A financial platform for the next 3.5 billion people in emerging markets — powered by the Dala Utility Token. **UPDATE - No exchange info released yet**
Wala is a best-of-breed financial platform built on the Ethereum blockchain. Our mission is to help emerging market consumers reach financial prosperity by eliminating their barriers to banking. Wala achieves this by closing the gap that exists between consumers and financial service providers, increasing the accessibility of the financial system.
Wala is not a bank. Wala is a financial platform whose strengths are in consumer engagement on digital platforms, especially the mobile phone. Core banking functions, such as taking deposits, providing withdrawals, and deposit holding will be provided through Wala’s accredited partners. Banks and financial service providers are most equipped to provide these services but require the technology partner to drive the widespread adoption and engagement needed in order to close the financial inclusion gap.
Through the platform, Wala and financial service providers can make banking more accessible and minimize the costs of financial products for users. However, as a platform, Wala would still be bound by the geographical limits imposed by the networks and licenses of specific partner providers.
In order to enable a completely free and borderless financial system, a new utility crypto-token, called Dala, will be issued by the Dala Corporation. The Dala token will be used to reward platform-enhancing behaviors and will be redeemable for value-added services or exchangeable into fiat currency on the Wala Financial Platform. As more users join the platform, more Dala is utilized, increasing its utility as network effects grow. As its utility increases, more users will be drawn to the platform, creating a robust token ecosystem.