PCCL global ecosystem: a method to alleviate the lives of the 1.3 billion poor people &the 2.4 billion unbanked people? — Part 4
By Indrachapa S
The PCCL ecosystem’s services includes remittance, insurance, and the E-commerce trading platform, savings and bill payments.
The savings facility is a special feature of the PCCL ecosystem made possible by the PCCL app. It allows customers to save a portion of their income for future financial purposes, both expected and unexpected. Without savings, financial situations can become a huge burden. With savings, this burden can be avoided and financial security is assured. Savings are an important component which is looked into during the loan approval procedure in traditional micro finance and financial services. Without a saving history, it is impossible to obtain a loan in many situations. Loans are an important component which aids communities crawl out of poverty. The PCCL app makes it possible to look into the savings of the clients making the loan issuing and approval procedure quite at ease. Furthermore, one could also deposit savings at banks through the app.
The PCCL ecosystem also simplifies bill payment with its bill payment facility. It will change the way you pay your bill forever.
Paying bills on time is an important step of taking control of one’s financial life. It reduces stress and takes care of a whole lot of problems. However, the lack of enough time in the present society is a huge barrier to pay bills on time. In collaboration with respective companies and centres, PCCL has introduced a utility feature to the PCCL token which will literally put a stop to intermediary parties. This means customers can make bill payments both locally and internationally with an affordable low fee. Individuals can make payments for a variety of bills. These include electricity bills, water bills, rents, insurances, loan instalment and other bills. The PCCL wallet, another feature of the PCCL ecosystem, makes it possible to complete bill payments from any part of the world making it a global service.
Finally, the last piece of the services offered by the PCCL ecosystem is the E-commerce trading platform. According to Wikipedia, E-commerce is the activity of buying or selling of products on online services or over the internet and stands for ‘electronic commerce’ in long form. The PCCL E-commerce trading platform is intended to power and execute online trading for entrepreneurs. Currently, entrepreneurs in Sri Lanka and many parts of the world are restricted to the local market. They are bounded by the local market because of deficit methods to reach the international market. To overcome this issue we decided to build a global market place, a platform that would open countless market opportunities. Entrepreneurs will be able to form an international customer base beyond boundaries and capabilities. Local products will receive a global demand which leads to more demand, more supply, more income and an enhanced economic standards. The process can be done using tokens and both fiat & digital currencies.
Together the PCCL global ecosystem builds up PCCL’s target audience both by socially and economically by financial inclusion. The NEPAD declaration implies that socio-economics development is the continuous improvements in the well-being and in the standard of living of the people. In other words, it is the relationship between economic activity and social life. Social economic development is measured with indicators such as the GDP, life expectancy, literacy rates and employment rates.
Socio-economic development is a vital component in addressing poverty as a wholesome issue. Achieving socio-economic development eradicates poverty as it promotes self-reliance, sustainable development and encourages a self-sustaining development. According to Wikipedia, socioeconomics is defined as the study of how economic activity effects and is shaped by social processes. In general, it analyses how the society’s progress, stagnate or regress because of their local or regional economy or global economy. Due to its unique feature and the target audience of its choice, the PCCL global ecosystem contributes to the global economy by socio economically developing the target audience.
Every PCCL product and service ensures monetary advancement and soundness in terms of social & economic development and stability of the target audience. Not only does it breakdown the stereotype of the typical digital ecosystem with its countlessly enables facilities and features, it also enhances four wholesome populations who were financially deprived in the past.
