One area where Blockchain technology has made the most inroads is the financial solutions. Be it by inclusiveness, cost reduction, security, speed and proposed efficiency of transactions, proponents see blockchain implementation as the next big move in remittances.
While mainstream adoption is expected to improve in the near future, the need for improved payment systems cannot be overemphasized.
Time To Close The Gap
Over the years there is evidence of how Blockchain technology has emerged as a savior for the banking sector specifically as an alternative payments system. It provides a decentralized system that records and shares information without an overbearing central authority while also reducing, transaction fees, time and the occurrence of errors or frauds.
Among the frontrunners towards the realization of this revolutionized system in payment solution is Everex. The company specializes in applying DLT payment solutions to cross-border money transfers, merchant payments, currency exchange, and other financial services with nearly instant global settlements in national currencies over blockchain.
Considering the enormous gap that exists in the industry, Everex in its press release considers the market to be ripe for the taking and is therefore trying to pave the way for a direct payment space for domestic as well as international transactions/transfers. Everex’s stable coin platform will be leading from the front as a pioneer in global remittance.
Engaging The US Market
According to Alexi Lane, the company’s founder and CEO, the company believes that it is the right time to introduce its solution to the US market, which has been described as one of the most vibrant payment markets worldwide.
“Although credit card payments are dominant in the US retail space, this comes with high cost for both transactions and settlements, causing merchants to borrow working capital against pending settlement from their sales. Our blockchain payment solution solves both of those problems”, says Alexi Lane.
Lane also notes that the US government has opened up to blockchain and the cryptocurrencies market, leaving the market ripe for taking. On to a completely digital world!
Anna Vladi Joins Everex
To help set up and drive operations in the new market, Everex has invited Anna Vladi as Chief Operating Officer. Anna has been an advisor for the company in the past year and has jumpstarted MSB licensing in the States. During her last stint with Accenture, Anna was supervising Blockchain in the energy sector. Prior to this, she was Vice President of Operations and Systems at AIG and has also served as a founding partner in a boutique management consulting firm.
With over 20 years of experience in Operations, Strategy and Complex Programs Implementations, Anna brings in a fresh perspective on how to build operations from the ground up, how to acquire customers, thus, securing the functionality of Everex’s business and scaling extensively in the right direction.
Anna also agrees with the opinion that the payments sector is ripe for the taking since there are not many working payments products on the Blockchain and almost none on Ethereum.
Her first line of business as noted by the company will be getting the MSB licensing and partnering up with local banks, which will help onboarding new customers in the USA. In addition, Anna has been working closely with Ethereum core developers over the years and is very well aware of all the upcoming technical upgrades, like the Constantinople fork that is expected to solve a number of issues and has been two years in the making now.
Anna also leads a non-profit project on the side: Women4blockchain. She has taken upon herself to educate the masses about Blockchain through a number of immersive hackathons. In Anna’s words, she sees Everex paving the path for Blockchain payments just like PayPal did it way back for online payments.
Confronting The Existing Challenges
It is clear that Blockchain technology is passing through an era of increased scrutiny, as major systems are investigating the most appropriate ways to either marry it with the existing systems, or find peculiar implementation. This phase of development can only be achieved with running active products that are boldly confronting existing challenges and creating relevant solutions.
Everex, through its operations and innovative steps are definitely not shying away from taking the responsibility of engaging the mainstream with emerging technologies.
As the ecosystem evolves, the reality of the benefits of blockchain will be determined by sustainable projects that are living beyond the initial “bubble” and hypothetical era which was characterised by the roller-coaster run torn between the cryptocurrency market and regulatory institutions.