Revolutions are irreversible, unpredictable and obey their own internal rules. By now, it has become clear that the blockchain is changing the business environment significantly by introducing a technology that is breaking the rules of the game.
The potential of blockchain technology has already been acknowledged by large players in the market. McKinsey reports how it can be used to improve data management in the public sector, Deloitte is considering it for tax administration, the UN is using it for running better administration programs, while more and more well-respected companies and institutions are tapping into its potential.
But such significant changes have yet to become the norm and adopting blockchain technology still remains a growing process. More and more C-levels are considering the advantages of the blockchain because it can solve problems of data manipulation, transparency, and online security.
The blockchain is creating an ecosystem where there is no third-party interference, and the middlemen are out of the equation. For businesses across various industries, this results in reduced transaction fees and faster speed when conducting transfers of value in the digital world.
Blockchain technology holds the promise of restoring trust in digital payments, where daily processes are handled with guaranteed integrity and our ecosystems are profoundly simplified.
The implications of technology when it comes to issues of trust and security, goes a long way back. Ever since we were introduced to online payments, we have all experienced in some way or another problems in financial transactions such as credit card double spending, frozen funds, or failed transactions that have undermined our trust in the system.
But the time is now, as the crypto space is innovating daily, globally. The need for more technological advancements has given way to visionaries starting their own revolutions. The same goes for financial transactions and payments processing. As transactions make up a large chunk of our online experience, many have attempted to deliver efficient methods of paying on the blockchain.
This is where PumaPay comes in, hoping to deliver a complete solution: a payment protocol, a token, a mobile crypto wallet and a whole network of global merchants and services. Gone are the days when you would pay for your subscription and wait up to 24 hours for confirmation and activation. Now, PumaPay is working towards making it possible within minutes.
Right now, we pay a lot to trust each other, to trust the safety of our money and the legitimacy of online transactions. But how about paying less and having a network based on trust and openness? Indeed blockchain makes this possible, while blockchain start-ups set out to realize it.