Wala - "...the world's first borderless, rewards driven, zero fee financial platform"

[Geselskap]

"Wala has created the world's first borderless, rewards driven, zero fee financial platform that will be powered by the Dala utility token. Through Dala, Wala makes use of the best of blockchain, cryptocurrencies, and tokenization...".

This SA-based blockchain start-up yesterday launched the "Wala" app in the Google Play Store.

Also, on 24 March, TechFinancials reported,

"SA’s Wala to Lend R118 million in Crypto-Tokens to African Farmers - Dala, Wala, Block Commodities Limited and FinComEco will work together in this first-of-its-kind partnership to develop and operate a range of platforms, projects and initiatives in the agricultural commodity markets sector in sub-Saharan Africa."

- The app looks polished & seems to work well;
- There is no confirmed merchant network in South Africa yet, for Dala token to be used at;
- zero-fee approach to could appeal to various users.

 

[mercurial]

Source?

 

[Geselskap]

https://getwala.com/

https://techfinancials.co.za/2018/0...-million-in-crypto-tokens-to-african-farmers/

 

[Electron1]

Good luck trying to get small farmers to start using virtual currency.
Clever idea in naming the currency "Dala" but can foresee lots of confusion trying to trade with it.
How many fights will break out when the buyer/seller realises it is not dollars?

 

[Jet-Fighter7700]

Good luck trying to get small farmers to start using virtual currency.
Clever idea in naming the currency "Dala" but can foresee lots of confusion trying to trade with it.
How many fights will break out when the buyer/seller realises it is not dollars?

Im surprised they didnt run into a copyright infringement with this company

https://www.walla.co.il/

 

[Geselskap]

What makes small farmers different from any other consumer and whether or not they adopt virtual currency?

 

[Electron1]

What makes small farmers different from any other consumer and whether or not they adopt virtual currency?

Maybe the loan will get them into the currency. Then what happens from there?
Need connectivity/technogy and others to also be using it.
How easy is it to cash in /out?
Who will assist with it on the ground?
If it gets a bad name for any reason, the currency will become worthless if they cannot easily trade with it.

I am skeptical, but good luck with it.

 

[Geselskap]

My default is skepticism mixed with a hint of "the world's messed up anyway". So, I have been doing some reading too. And playing around with the Wala app.

I understand the app owners see their only competitor as CASH. And are very consciously pushing their digital token (currency) as an alternative to cash. That's a big dream. Or go home.

I gave thought to the cash in/out many of us are aware of. Esp those who do money transfers. Wala, using Dala, have started with a platform that encourages moving away from cash and therefore, the need to cash in/out. By ambitiously drawing in merchants/services within it's virtual space for users to transact with, using their Dala currency.

Ambitious, no doubt! And very dependent on early adoption by such merchants/services to allow for trading, as you say.

@Electron1, have you checked out the Wala app? It seems to have ease of use & be set up for big things!

 

[Electron1]

Thank you , but no thank you. I have no need for it right now.