Quote from: wgq1981 on December 19, 2017, 08:18:17 AM

Quote from: memyselfandi on December 19, 2017, 02:46:49 AM

Quote from: bry0908 on December 19, 2017, 02:07:08 AM

Quote from: 1DC on December 19, 2017, 02:01:12 AM

Quote from: Iambatman on December 18, 2017, 07:27:37 PM

I just wanna know if you lend in lala is there colateral or what?

Yes if someone will lend or borrow money from Lala wallet, it is included in the terms and condition that it have collateral if you unable to payback the money you lend. I read that information in their telegram because someone is already asked it.

what would be the collateral if they are migrants and unbanked?? to know that they dont have properties to be a collateral...

Actually based on their whitepaper, it is stated there that in crypto asset backed loans it has a prepayment penalties for the user who did not able to meet the due date of the prepayment while in micro lending for small community projects, it said that no collateral but it has competitive interest rate. Regarding to what kind of collateral, they did not mention it on their whitepaper, maybe we should ask it on their telegram.

Collateral is necessary. Otherwise, it is not binding for the behavior that can not normally repay the maturing funds, and can not achieve good risk control. So this project is very difficult to succeed.

How can you say hard to succeed? collateral is part of lending and many financial institution regardless of they are blockchain based or not succeed with collateral as part of the contract. LaLa world is just doing the same but using crypto as collateral and not personal and real properties so i don't see any difference in that which makes it hard to be successful.