With global crypto users being just 300 million, out of the 8 billion population, there is a huge market yet to know about crypto and the benefits it can bring to them.
Even today, the majority of the population living in Africa, Asia, South America, and the Middle East are living without proper financial access.
Millions of these people also operate and mom and pop stores and millions are daily users. Imagine one day a person paying at the mom and pop stores with Klever (KLV) or another crypto.
KLV is the utility token of the Klever Ecosystem. Users with KLV can book flight tickets or a hotel on Travala.com and much more. Users can also earn passive income from staking KLV or another crypto.
The government could use this resource to bring billions of people under the financial umbrella, something that is still out of reach even in this century.
If the government wants to work with banks the old-fashioned way, it will take years. Under the ‘Jan Dhan Yojana’ program, Indian prime minister Narendra Modi has brought over 416 million Indians into the banking system in the last seven years.
Still, millions are still left out, which can be brought in, if the government allows the adoption of crypto.
With the adoption of KLV and crypto, the poor could save billions of dollars on banking services. The person will pay directly to the mom and pop store owner without going through any intermediaries.
As all crypto is based on blockchain technology it cannot be down or out of service. For example, if we are making payment via a banking platform, the server can be down or your platform might be working but mom and pop stores’ bank servers might be down.
But, here as both on the same blockchain and on a decentralized platform, payments can be done anytime and from anywhere.
Stores with crypto adoption will enter a new era of banking and finance, as each mom and pop store can even become a bank and do lots of other activities.
It is not the stores that are afraid of accepting crypto, there are very few of them that take the risk of accepting it, as prices of crypto are highly volatile, but taking a risk is what is needed today.
One major drawback is the government’s pressure on mom and pop stores and how they view crypto. Many governments see crypto as a Ponzi scheme, which it is not. There are black sheep in all sectors, not only in crypto.
If mom and pop stores adopt, let us see what more they can get.
Saves from inflation
As mom and pop stores are operated by people with low income, the adoption of KLV and crypto can save them from inflation. As all crypto have a limited supply, valves increase on demand and this in the long run prevents inflation.
Crypto projects don’t require any third party to confirm or reject the transactions, if mom and pop stores adopt it, they can keep all the records of transactions they do with consumers.
No cost for the transaction
As KLV along with many crypto services charges very little or no fees, mom and pop stores can save a lot of money in unnecessary banking changes that have to pay for using their service for verifying a transaction.
KLV or another crypto, a mom and pop store owner can be bought by fiat currencies from exchange or swap at any crypto exchanges. You just need a crypto wallet that will store all your crypto.
Instant fund transfer
If mom and pop stores have to make a payment, KLV or any crypto can be sent instantly and are lightning-fast, as it uses a blockchain to make transactions. Transfers can be made anywhere at any time, there is no time zone for sending KLV to anyone.
These are not the only benefits to mom and pop stores, but they can only be possible with the adoption of crypto by the masses. The change will come when billions adopt crypto in the coming years.