Friday, January 28

Raj Chowdhury Mentors African Youth in the Virtual Currency Realm

Raj Chowdhury Mentors African Youth in the Virtual Currency Realm
 

Source: Raj Chowdhury Mentors African Youth in the Virtual Currency Realm

Discovered on: 2022-01-15 10:40:06

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The unbanked sections of humanity whom the centralized governance has failed or deliberately excluded can now become a part of a powerful and dynamic financial and technological ecosystem.

Blockchain pioneer and PayBito Chief, Raj Chowdhury, in an online session spoke to a group of college students in Zimbabwe introducing them to the possibilities of blockchain technology.

In an event arranged by a local non-profit to raise technological awareness among college-going students, Chowdhury engaged with the students in an interactive session. He encouraged and answered questions related to the parallel currency system which reserves the potential to redress historical failures.

“As far back in time as we might travel,” he explained, “appalling portions of wealth in currency and exchange have been controlled by central banks, ensuring they exercised strict control over the masses and profited off their trust and reliance.”

Explaining the philosophy behind the emergence of the virtual currency realm, he went on to suggest that the progression of technology has worn off the influence of centralized power making way for a parallel realm to redistribute wealth.

“The unbanked sections of humanity whom the centralized governance has failed or deliberately excluded can now become a part of a powerful and dynamic financial and technological ecosystem,” added Chowdhury.

The discussion meandered over to Bitcoin and innovation in the blockchain and cryptocurrency sector. When pointed out the environmental hazards brought about by Bitcoin’s proof-of-work concept, Chowdhury responded, “Bitcoin is the foremost application on blockchain that demonstrated decentralization of wealth with resounding success globally.”

“As a first, it does entail certain demerits in its process of validation which is appropriately corrected in the subsequent crypto tokens.”

The blockchain proponent and keynote speaker finished off describing his journey since the inception of his fintech startup HashCash Consultants. HashCash Consultants is a global blockchain development company. PayBito, a product of HashCash is a global digital currency exchange with users from across the globe.

PayBito provides crypto exchange technology architecture to institutional crypto ventures and provides crypto banking and custodial services. It has recently announced its collateralized lending platform gaining traction in the market.

The PayBito chief has often been vocal on the industry-wide adoption of blockchain and widespread use of cryptocurrency and its benefits. His organization frequently engages in humanitarian projects solving real-world problems.

Raj Chowdhury is the Managing Director of Paybito and a Blockchain pioneer. Raj pioneered the first interbank Trade Finance and Remittance implementation of Blockchain Technology between two of the largest global banks. Raj is an eminent voice in the Blockchain and Cryptocurrency space and actively engages with policymakers in this area. He is a contributor to Economic Times, Business World, CNNMoney and advises industry leaders in the adoption of Blockchain. Raj had been a research associate at MIT’s Microsystems Technology Lab. He is a member of Asha Silicon Valley, a nonprofit committed to education for children in emerging countries. Author of the book ‘The Dark Secret of the Silicon Valley’, Raj is an investor in blockchain and cryptocurrency companies and an active member of the philanthropic community.

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