Keys towards mass adoption of blockchain technology

The average wallet size in emerging Asian markets such as the Philippines and Indonesia is small compared to other markets. In these countries, sachet-type products and services is king, and big business is fuelled by microtransactions. In these places, majority patronise shampoo packets over bottles, sell cigarettes by the stick instead of by the pack, and top up their prepaid telco sim cards instead of apply for postpaid line subscriptions.

How then can mass adoption to blockchain technology be achieved in these markets? Keeping the behavior of emerging market consumers in mind, how can technology be accessed by the majority of the population? For XONIO founder, Raymond Racaza, the answer is simple: fintech should offer products and services that revolve around these behavioral and social purchasing activities.

Promoting ease of use, simplicity, and a clear utility for users are keys to the mass adoption of blockchain technology.

By bridging the blockchain to the mass through telco prepaid airtime, consumers will be able to easily access the digital ecosystem in just one tap of a button. Without having to understand the in’s and out’s of blockchain, digital goods such as eSports game credits, grocery gift cards, digital gift certificates, microinsurance, eMovie tickets, and an ERC20 tokens called XONIO are all within reach.

Watch the video below to learn more from the Fintech panel discussion joined by XONIO founder, Raymond Racaza.

The Global Inclusive Blockchain Conference was organized by the Singapore University of Social Sciences (SUSS) and Longhash to discuss topics from macroeconomics, finance and investment, regulation, standards and applications, to technical matters. Through the conference, SUSS presented the latest debates and exchanges among leading practitioners and thought leaders, as well as the opportunity to advance Blockchain knowledge and its applications.

XONIO was part of the panel discussion on Fintech Inclusion, last April.

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