What is Blockchain
A blockchain is a database that is shared across a distributed network, which means all of the data is not stored in a single place. Once a record has been added to the chain, it is almost impossible to change. To ensure all the copies of the database are the same, the network makes constant checks. Records are bundled together into blocks and added to the chain one after another. The implementation of blockchain in Uulala allows us to create an immutable ledger of financial history and is the basis for the blockchain based credit profile to empower, elevate and sustain the financial future of our users. Uulala has built its own blockchain to meet the needs of the network and not be subject to unnecessary fees which allow us to drive down cost on our services.
Uulala has created a banking core engine to power the consumer-facing mobile application. This proprietary technology allows us to create financial products to meet the unique needs of our unbanked customer base and allows us to register the transaction history on our blockchain for immutability.
The mobile app has unparalleled functionality as an all-in-one solution for financial inclusion. It provides access to many services including instant access to funds via a virtual MasterCard, send and receive payments, mobile prepaid minute top up, pay utility bills, access to microcredit offers and more.
Loading of Funds
Uulala has built a unique mechanism to help individuals load physical cash into the digital economy via a Peer to Peer network. It network will allow designated individuals to act as loading locations to help individuals load funds into their wallet. Just how Uber can turn anyone into a taxi, we can turn anyone into a loading center.
Data security and personal privacy are items we take seriously at Uulala. Our data security and privacy procedures exceed those in jurisdictions in which we operate. Our customers are our stakeholders and we choose to put their needs and privacy above all, unlike many financial institutions.
Uulala for Android
Uulala for IOS