The global economy is poised to bolster an economic head start as the global coronavirus disease 2019 (COVID-19) pandemic has accelerated the adoption of fintech solutions across a wide swath of industries, with cryptocurrencies and digital economy riding a robust tide.
Smart Asset Managers (SAM) founding chairman Rommel Santos paints a rosy outlook for e-commerce, with the coronavirus nudging a vibrant future for cashless transactions.
“The potential of the digital technologies right now is actually 10 years ahead of the conventional technology that has long been in place. So, I think, people need to look at the digital side of everything,” Santos said. “What I suggest is that they enhance the digital services that they are offering to people. Because, right now, it’s about adaptation.”
Only recently, the Bangko Sentral ng Pilipinas (BSP) granted its initial endorsement to SAM to proceed with the registration with the Securities and Exchange Commission (SEC) and other government agencies for amenabilities.
The SAM Digital E-wallet is a subscription-based platform, shares and provides economic opportunity that has recently expanded its operations to the Philippines. SAM Digital Technologies is the parent entity of SAM and it’s registered as digital currency exchanger in Australia under AUSTRAC. SAM is into digital and conventional businesses.
Santos, a Philippine-born New Zealander based in Australia said he “wants to widen the company base in the country to help his fellowmen,” as he sees how financial technology or fintech is slowly becoming more inclusive in recent years.
What is SAM?
Santos explained that SAM is in digital and conventional business development which offers subscription-based program that is actually a community base that aims to provide economic opportunity through our conventional business developments.
In exchange for their subscription — where there is a fee attached to it — the company provides the information to those conventional businesses that we have either acquired, are conceptualizing, establishing, operating or buying as a whole concept.
He went on to say, “We have a step-by-step guide on how we acquired it, how we comply with regulatory compliances, by way of registering those businesses coming up with a marketing plan in everything.
“We list the possible opportunities where our subscribers can directly engage those conventional businesses, as either an investor or a self-owned business, or they join the consortium.”
On those conventional businesses, SAM receive revenues from them, and those revenues get converted into “SAM points,” which gets distributed to their community subscribers base, points that they can either convert to fiat or an acceptable cryptocurrency.
Santos said he has a vibrant outlook for e-commerce in the Philippines, specifically for online businesses, which is expected to grow approximately five times from US$1.1 billion in 2015 to US$4.6 billion by 2025. Subscribers from Malaysia, Indonesia, Japan and other southeast Asian countries along with those in Europe and Saudi Arabia, have active participation in SAM.
Santos, says that with a minimum subscription of $20 or P1k, a subscriber gets to be rewarded daily as SAM’s appreciation for subscribing. The reward is up to 15% monthly from one’s subscription.
SAM’s aim is to reverse the conventional method of entrepreneurial journey through economy sharing in which a subscriber can directly engage in conventional business if he so desires.