Ireland-based Traxion will be equipping 600, 000 sari-sari stores with blockchain technology to bolster financial inclusion in the Philippines, a company executive said. Jorge Azurin, co-founder and business strategist of Traxion, said the company aims to lower down the number of unbanked Filipino families in the country. “We will use sari-sari stores to reach those unbanked Filipinos,” he said in a roundtable discussion with reporters in Mandaluyong City. Azurin said the sari-sari stores will serve as “branches of banks” in far-flung areas as Filipinos can easily deposit and withdraw cash from them. The partner sari-sari stores, meanwhile, will earn money from transaction fees.

Source: Manila Times May 12, 2018 16:41 UTC