L-pesa the first lone service in the blockchain and develop
L-Pesa Micro-finance is a fintech startup poised to take advantage of the fast-growing need for financial services in the developing world.
L-Pesa was founded with the vision to improve people’s lives through efficient access to credit and related financial services. there are millions of people who don’t own enough or have the right paperwork or live under oppressive regimes, who cannot access micro-financing because dealing in fiat has bureaucratic requirements
L-Peas is an extremely scalable on-demand cloud computing platform which has been used by major brands such as Pinterest, Spotify, Airbnb, and Netflix. It technology stack is built on top of Amazon Web Services and has integrated a number of third party applications to perform tasks such as SMS messaging, user verification, and marketing.
L-Pesa business was launched in Tanzania back in 2016 and in Kenya in August 2017. and it next step of launching it business in India and Uganda is in progress. Over $500,000 has invested in this project by it Founder and has issued over 38,000 loans since going live in March 2016. Over 170,000 users have registered based on social marketing campaigns run on a minimal budget.
L-Pesa creates blockchain-based, smart contract loans enabling people across the internet to grow their businesses and become thriving entrepreneurs.
The idea for L-Pesa was incubated for a decade, and the business was launched at the time four important market forces converged to allowscaling:
- Alternative Credit Data
- Big Data, Artificial Intelligence & Blockchain
- Biometric Identity
- Mobile Technology
Alternative Credit Data: New tools have been developed to make this data useful for decision-making in loan underwriting. years ago, there was very little data available on most of the people in the world. This has changed tremendously with the advent of social media technology
Big Data, Artificial Intelligence, and Blockchain: Blockchain ( internet of money ) technology has just started to revolutionize financial services and will lead to enormous efficiencies over the next ten years.
Blockchain technology allows for faster, safer, and less transaction fees. And is give users the chance of making transaction in a more flexible and convenient way without one living his home.
Bio-metric Identity: The implementation of Bio-metric ID will dramatically reduced the cost and the ability to provide financial services without a physical branch network.
Mobile Technology: Based on the market penetration and survey on number mobile phone users, it is quite clear that the rise on mobile phone owner over the past two decades has been one of the most profound technological and market shifts in human history.
The number of unique mobile phone subscribers in Africa is forecast to reach 725 million by 2020, accounting for 54 per cent of the expected population by this point
Mobile money services such as M-Pesa, Tigo Pesa, and Paytm have grown very quickly and have enabled L-Pesa.
L-Pesa Success Graphic
The First Crypto Loan Service in Africa.
The L-Pesa token ( LPK )
LPK is an acronym for L-Pesa Token, The LPK token is a standard ERC20 token that allows one to use the LPK applications.
The smart contracts deployed in the initial stage of the project, consists of two main modules:
- Token contract which follows ERC20 standard.
2. Crowdfunding contract which allows campaign participants to send their contributions in ETH.
3. 1 ETH = 17,500 LPK.
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content creator :gafman
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