Today’s global economy is constantly changing due to the constantly increasing innovations introduced in public. Of course, there is always a creator that leads to the development of each new product. Two decades ago, the use of bank cards was unfamiliar for most people. Until now, some countries still use cash and checks for their transactions. But the world is now embracing the concepts of cryptocurrency or digital assets. According to cryptocurrency advocates, this new form of money allows better security and convenience for all users.
Cesar Bermejo, the founder of one of the innovative financial technology platforms, shared that digital assets help everyone. It can allow countries to monitor each unit of any monetary asset and get rid of shadow economies by establishing digital money. A regular person can also take advantage of all the perks of this technology, including obscurity and freedom to do unlimited transfers. The people do not have to wait for the future to enjoy these benefits. All of these exist at the moment.
Bermejo came up with a payment system called Expo Pay. It is a platform that connects financial institutions and businesses that allow users to pay for products and services anywhere in the world without any hassles. Using all the knowledge that he earned on computer science and economics, together with an MBA degree from Dartmouth College, he merged business and IT.
Nowadays, more people started to accept cryptocurrency payments and use this type of transaction infrastructure in different life functions. It establishes various platforms like EXPO Holdings to prove that the shift to the digital economy is not an ongoing trial conducted by governments and business institutions. However, today’s more common question is how this new advancement is different from the other payment systems in existence.
Growing boundaries
The developing interest in projects like these is not limited to regular users. Larger institutions are more interested in joining this innovation and being part of the progress of the business. Expanding the partnerships and developing complete project infrastructure permits businesses to spread out their boundaries and make access to these tools less complicated for regular people. For example, Bermejo’s EXPO is currently working with transactions like LocalTrade, Coinsbit, and P2PB2B.
Regarding the expansion of boundaries, Bermejo shared that his platform is debiting the EXPO Mobile Wallet, which they claim to be a more profitable option to all existing wallets, especially since it does not require payment to use it.
Distributed communication
Another major area of transformation and diversification in the digital payment industry is the distribution of communication tools. Today’s digital economy handles a large amount of data. Most of the time, users do not only utilize these platforms in making payments. They also use this as one of their communication tools to share information.
Also, banking solutions are always included in different communication apps. Thus, it is crucial to create the overall communication infrastructure between people instead of concentrating on payment systems only. If this is not done, it will have no difference with the current payment systems.
According to Bermejo, they plan to introduce Expo Messenger to provide both communication and financial services to their users.
Multi-Level Marketing approach
An effective way to secure worldwide advancements is through the help of local endorsers and community heads. This method is otherwise known as MLM. The satisfied users will recommend the product to their family, peers, and acquaintances, and these people will pass on the information to others as well. As a result, the network will grow, and the popularity of the infrastructure will expand.
Bermejo explained that the MLM model would work well for their platform because they do not have adequate resources to promote their platform all over the world simultaneously. They can only rely on word of mouth from a dedicated business community.
At the moment, Expo Pay is operating in various markets like EU nations and Latin America. They are also planning to expand to Spain, Peru, and Mexico.
The use of technological advancements is a type of development that no one can prevent. Some businesses choose to take advantage of it to improve existing technology and introduce new products on the market. People need to embrace the changes that offer new solutions to common needs.
