Updated: May 17, 2018
Panta Group has started work on a digital currency that governments, businesses and citizens will accept and love. The project code-named Apex is meant to merge transactions across the entire Panta Platform seamlessly in a way only Panta can.
Rather than being a typical digital investment or venture, Apex is set on being a digital form of payment linked to a users Panta Profile. The digital currency is able to be transacted online, mobile devices, wearable devices and even the newly released Panta Card giving increased access to goods and services all over the world.
Panta's plans on entering the digital currency market shouldn't be a surprise to anyone seeing as the company's mission is to "Seamlessly digitalise everyday life with the Panta Platform". Panta’s portfolio reveals its ever-expanding ecosystem, showcasing the brand’s foray into all aspects of our lives—including a full scaled security solutions which help identify potential threats to national security and criminal activity. It also partnered with the Department of Transportation in the Philippines (DOTr) to utilise it's technologies for the country's PUV Modernization Program which will see over 250,000 vehicles equiped with Panta's payment terminals by early 2019.
The potential is huge, especially for developing countries and frontier markets. New breakthroughs open up huge opportunities for local enterprises and neighbourhood stores to underbanked populations in rural areas that are absent of ATMs, banking branches. and reliable internet access According to a recent PWC study, 42 percent of the global adult population is absent from the financial system, predicting enormous growth for fintech enabling easy access to financial services.
According to Panta Group executives, the choice in creating the digital currency was driven by consumer demand, the new approaching decade and it's obvious benefits to the Panta ecosystem. Staying true to Panta's firm investment in the lives of it's consumers and communities the digital currency is rumoured to be gained through members interactions with the Panta Platform. Panta Group's plan to reward the digital currency for interactions across it's entire ecosystem is the companies underlying solution to lift populations out of poverty and ease the burden of managing such a huge undertaking by governments and industries.
The world was always moving towards digital currencies, but the way in which these current players are positioning themselves is harming this transition. - David Kahale, CEO
David Kahale, Panta Group's CEO has stated that the company is in no hurry to release an unfinished currency because there are a lot of mathematical, economic and legal examinations that have to be solved in order to achieve this incredibly huge transition.
This shift is not easy, especially when it feels too big and further highlights the tension between Marketing and Technology within politics. Panta is trying to resolved this tension by focusing on serving their customers first and foremost, and by better integrating these departments from the start. That means aligning value driven organisational priorities and ways of working to serve the customer first, regardless of department. This evolution is inevitable for organisations of all types, and the brands that get their first will not only grow their market shares, but begin to reshape the industry at large.
All we can do now is wait and listen to Panta's final solution to the digital currency age.