I guess it was a rather remarkable coincidence that Facebook released their white paper for their global digital currency. Their stablecoin named Libra was announced on the same day that we at Xfers made a joint announcement with Zilliqa on our foray into blockchain technology that aims to improve financial inclusion and making financial services ever more accessible to the masses.
It is hardly surprising that the problem statements and opportunities outlined by the Libra project are so close to the heart of Xfers. According to KPMG, the percentage of unbanked population in South-East Asia is a staggering 27%. This statistic is one that's hard to imagine if you live in a city where close to a 100% of people are banked and have access to financial services.
I believe we will continue to see even more similarities in how we will:
- Digitize cash for both businesses and consumers
- Hold and guarantee value stored
- Provide the ability to build services on such financial infrastructure
Color me excited to see what these advancements will bring to society in the next few years.