Kyiv, Ukraine, July 29, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Jax.Network adds a new advisor to its team. Mru Patel is a proud leader and visionary for the open-source movement, who values the Jax.Network technology and wants its stablecoin to be adopted globally, especially in the African market.
“When the team pitched me their blockchain and stablecoin, I immediately realized that it resolves the problems most governments have globally, which is how to collect taxes and how to create a stable digital currency. However, the most important aspect is to improve the lives of many African people, who suffer from hyperinflation, financial exclusion, and expensive cross-border payments. Being a decentralized, stable, and inexpensive transactional coin, JAX has all the merits to gain mass adoption in Africa, South America, Asia, and several countries in the world, where the stability of local currencies and inflation is rife,” Mr. Patel explained.
Mru Patel is a Kenyan-born seasoned and award-winning public speaker, best-selling author, IT professional, serial entrepreneur, and investor. With 30+ years of experience in several sectors, including technology, property investments, and development, he has personally invested in, developed, and managed projects all over Europe, the UK, the USA, India, and the EU emerging markets. Mr. Patel has great connections and is involved in numerous innovative and disruptive projects, including blockchain.
"Thanks to Mr. Patel’s expertise and experience, Jax.Network now has an advisor for catering to the global stablecoin market, especially the African one. I expect that JAX will be a good KYC/AML/tax-compliant stablecoin that will become the most popular currency in the continent. Cross-border transactions and day-to-day payments will become cheaper, quicker, and more convenient. That is a much-needed solution for both the banked and unbanked populations of the continent.", Vinod Manoharan, the founder of Jax.Network, commented.
Jax.Network is anchored to the Bitcoin blockchain that follows the JaxNet protocol and issues scalable, stable, and decentralized JAX coins. The Jax.Network team aims at making these coins a universal standard for the quantification of economic value. Established in 2018, the company united professionals from all over the world to build a blockchain network based on the Proof-of-Work consensus mechanism and pure state sharding as a scaling solution. Jax.Network uses a specific merge-mining technique. It allows miners to mine multiple shards simultaneously without splitting their hashrate and get rewards proportional to their effort. Being an open-source project, the JaxNet protocol can be used by anyone to build new projects on top of it and contribute to the development of the ecosystem.