Our Co-Founder & COO, Sukhi Jutla, was recently quoted in E-Crypto News article ‘Blockchain Technology Vs. Covid -19’.
She said: “The COVID pandemic is certainly going to change how normal life used to be. This pandemic has highlighted the need for money to be able to flow seamlessly and quickly to those who need it. Many countries have been
criticized for not being able to get funds quickly to businesses and people who are struggling financially due to COVID as systems are slow and traditional banks are still the main gatekeepers of the funds that need to be distributed such as business loans to save businesses.
Perhaps, this pandemic will now prompt people to question why they need to outsource their financial needs to inefficient third parties and instead turn to blockchain technology that could help people access their finance faster and send and receive much-needed money in a matter of minutes rather than getting stuck in bureaucratic red tape.
With so many people already embracing digital cash and using cards to make payments perhaps we are now just one step away from paying for our groceries from our digital wallets connected to blockchain technology.
Banks have been criticized for not helping businesses access the vital grants and loans being distributed by the Government. Perhaps, if funds were distributed using blockchain technology, those who need the help can get it faster with digital records being stored on the blockchain ledger.”
Read the full article here.