Allied Wallet plans on bringing blockchain technology to the e-commerce sector in India.
Andy Khawaja, the founder of Allied Wallet, acknowledges the incredible prospect of launching in India.
The tech will help in improving payment processing and allow for more efficient transaction crunching in real-time.
Per Businesswire, Financial technology firm, Allied Wallet plans on bringing blockchain technology to the e-commerce sector in India. The company has been a strong support to India’s e-commerce for a long time, and now the company hopes to bring blockchain-based solutions and their e-commerce offerings to India.
Andy Khawaja, the founder of Allied Wallet, acknowledges the incredible prospect of launching in India as the country’s e-commerce sector is a highly flourishing one with one of the highest annual growth rates in the world.
As more people in the country get connected to the Internet with more accessible and affordable Internet becoming standard in the country, the internet revenue generated in the country is expected to grow to $250 million in a single year.
According to Khawaja, blockchain technology seems to be a very promising route for them to pursue in their e-commerce push in a country with the second largest population in the world. The tech will help in improving payment processing and allow for more efficient transaction crunching in real-time.
There will also be significant cost savings in using blockchain technology to process transactions and also makes the entire payment network more transparent, versatile, and fast.
Elaborating on the country’s growing internet presence. The country has already been seeing massive adoption in online shopping as the infrastructure, enabling it becomes more streamlined and accessible to the masses. The next evolution lies in improving the efficiency of the payment systems, which is what Allied Wallet hopes to revolutionize by building a new framework using blockchain technology.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
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