Even as the market is ridden with uncertainties about cryptocurrencies, many corporates and start-ups have taken a step forward and embraced this new asset class for transactions.
Homegrown Decor Brand The Rug Republic recently announced their decision to accept all major cryptocurrencies for their orders within India. The Brand, with presence in over 90 countries and 6 continents, is the only Indian floor fashion brand with global recycled standard certificate. In fact, TRR also uses recycled denim, cotton, silk and even plastic bottles in their products.
Raghav Gupta, Director, TRR, says, “The blockchain is a great piece of technology that will undoubtedly change the face of transactions as we know them. A new age where middlemen can be cut out and benefits can be reaped by all instead of a select few. I believe as entrepreneurs it is not only in our best interest but also our duty to adopt new tech that can solve very key issues in our current ways.”
In spite of the concerns and controversies around cryptos, Gupta allays all doubts by saying that it is a misconception that crypto transactions cannot be tracked in any way. “It is easily verifiable on the blockchain, as opposed to the incredibly difficult ways money can be hidden in the real world. As we have seen with so many people – Panama papers . Our invoices clearly mention that money was taken in x currency on this date at this price. Everything is absolutely above board,” says Gupta.
“Like any other revolution, this crypto revolution too will only be successful as and when more and more people adopt it. With that in mind, we at The Rug Republic are proud to take part in this great journey towards a more connected future.”