Today I’m going to do a full review on the L-Pesa ICO Token.
L-Pesa has been going for a while. They decided to move their existing successful model onto the blockchain.
So lets take a closer look at the L-Pesa Token shall we?
L-Pesa (LPK) ICO Review
L-Pesa was founded in January of 2014. As of now L-Pesa claims to have a customer base of over 150,000 and growing.
Their headquarters is actually in Delaware.
With expansion L-Pesa is now opening branches in Uganda and India in the short term.
Long term expansion plans expand across Africa and Asia.
There is no doubt that cryptocurrency has a very bright future in Africa and other under developed countries.
As you would probably guess the demand for affordable loans is a huge market never mind in developing countries.
It sort of reminds me of the Salt Lending Coin which I also am a strong advocate of. Salt gives out large unsecured loans and also operates off the blockchain. Lpesa more geared toward unsecured micro loans.
L-Pesa 90% Success Rate
According so research it estimated that around 4 BILLION people in developing countries don’t have access to basic financial services.
L-Pesa stated in their White Paper they have already issued over 25,000 unsecured loans. On those loans better then 90% of the people have actually paid them back.
The number of released loans could of been much higher if they had more workers to process loan applications.
For a fairly new company that is a great start. Having over 90% success rate is really good. That means only 10% or under didn’t pay back the loan or paid back late.
Given the fact that these are unsecured loans to people with very little money L-Pesa has done very well.
So this is where the ICO comes in.
L-Pesa Expansion
The ICO is designed to generate funds. As people purchase the L-Pesa token (LPK) it will give the company more money they can loan out. They can also hire more people and expand their company.
As the company expands people in Uganda, India, Africa and Asia will have access to the unsecured loans.
I think where L-Pesa separates themselves from everyone else. They are reaching out to these under developed countries and giving loans to people who don’t have access to banks per say.
People who are in need of a micro loan who can’t get regular banking services for whatever reason.
Then L-Pesa comes along and lends them money without having to go to loan sharks etc.
What L-Pesa is finding when they are helping people they are winning people’s hearts. They are paying back the company in full so they can utilize their company in the future.
Really what speaks volumes to me is the 90% success rate on people paying back their loans.
L-Pesa Minimum Viable Product
ICO’s come in three categories basically. Those with an MVP, those without an MVP and those with an MVP that’s actually getting great results.
L-Pesa does have a minimum viable product and it’s getting phenomenal results so far.
So as you can see above we are the third party capital providers. We are providing capital through the ICO.
L-Pesa Socials
I can’t say I’m overly impressed with their social accounts. But I will say this. We are in the very early stages with L-Pesa and they just started building some momentum. Nobody really knows about this ICO.
Some may look at this as a problem I personally look at it as an opportunity. I like the team and the project and I’m willing to take some risk here.
The social accounts aren’t a huge thing for me. I do look at them but it’s not a determining factor.
Just today I personally got on Telegram and reached out to admins after doing all my research. I got on a live call with Michael who had a direct connection to L-Pesa and the IT department.
They answered all my questions and things went very well. They also fixed a couple issues I found with the back office. I was actually very impressed with how helpful they were.
L-Pesa – Verification
Not many ICO’s will call you never mind spend an hour or so answering questions.
I’m not sure if they will be able to keep up with the volume. However they are personally calling every person who sets up a free account and verifies.
Make sure you if plan on investing with L-Pesa you do the verification process. You must put in your name, email, phone and some form of identification.
Also if they are running some sort of promotion to get free tokens. You will not receive these freebies if you don’t verify account. So make sure you do that.
L-Pesa Pre ICO
One thing I like about L-Pesa they are an ERC-20 token. So they are running off the Ethereum blockchain. I am a big fan of ERC-20 tokens in general so I was happy to see this.
They are also accepting Bitcoin and Ethereum as payment.
L-Pesa has a soft cap of $5 million USD and a hard cap of $25 million.
As you can see above the Pre-Sale doesn’t start until March 10, 2018. So you have a lot of time. Right now we are in the Early Bird Phase which is basically like a Private sale. This gives you a tremendous opportunity to get in early and get the biggest bonus.
The Pre-Sale will end March 10, 2018 and the Public Sale will start on April 10, 2018.
Tokens will be distributed in August of this year.
L-Pesa Conclusion
I am very interested in this ICO on a personal level. I have done a lot of traveling to underdeveloped countries. This really could be the Bitcoin of Africa and beyond.
I really do like what L-Pesa offers in terms of how it can empower the unbanked in the under developed world.
You have lots of time to do your own diligence. Join the telegram group. Ask questions. Do your homework. I always say. Never go into anything blindly and always do good through research until your very comfortable with your investment.
The L-Pesa website has a ton of information. I would really suggest you set up a free account and take a good look around. I’m sure it will answer any questions you may have.
I do like the project enough and how long the company has been around. I think L-Pesa token has a good chance of doing well in the long term. However I do want to remind you I am not a financial advisor. Whether you decide to invest in L-Pesa or not it’s up to you to do your own research and contact your financial advisor if necessary.
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