My guest Oscar Garcia is the CEO and co-founder of Uulala a blockchain based company that has solved the financial services problem by helping the cash consumer become creditworthy. uulala connects the hundreds of millions of Latinos from the US to Brazil who don’t have a bank account to finally be connected to the formal economy. In the US alone the Latino GDP is $ 2.3 trillion.
It is really difficult and expensive to be poor, particularly if you are one of the large segment of the hispanic population who do not have a bank account or a credit card. These individuals typically transact in a cash only environment and wait in long lines to pay bills or to send money back home. When you pay cash it often costs you more, Banks charge you $29 a month for a checking account, there are overdraft fees, cash checking businesses charge high fees to cash your check, remittance companies charge high fees which reduces the amount of money that arrives where it is needed most. It is these factors that exacerbate the chasm between rich and poor.
uulala uses Blockchain to remove middlemen, drive down costs and empower those people who need it most. This will allow individuals to build credit, save on services and earn cash back by paying their bills.
Oscar has been an entrepreneur for over 20 years as an entrepreneur, built a number of companies, and accelerated the growth of small businesses. As the CEO of Uulala, Oscar’s passion for social impact will be global.
Oscar has assembled an excellent team of diverse executives, many whom are of Latino descent, secured financial services and distribution partnerships all while raising millions from crowdfunding. Oscar is driven by a insatiable desire to solve important problems through technology. Uulala, with its blockchain technology to empower a culture through financial inclusion and transparency, is the future of banking.