Utrust CEO discusses why crypto payments reign in an uncertain economy

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While the crypto market is currently chasing DeFi pumps and swap projects, much of the theme of the past five years was centered on cryptocurrencies as a payments solution to replace fiat (which is artificially inflated).

One such project that started with — and stayed —  on that vision is Utrust (UTK), which has exploded in popularity in 2020 after years of building and proving its technology.

For the uninitiated, Utrust is a seamless integration that gives e-commerce businesses the power to accept digital currencies and enjoy additional benefits such as instant transactions and immediate crypto-to-cash settlements for the merchant.

Today, Utrust CEO Sanja Kon sat down with Alex Fazel of crypto edutainment channel Cryptonites to discuss her leadership style in the company, how crypto payments are primed for changing the current financial regime, and the latest developments at Utrust and UTK.

Image: Cryptonites

It’s an interview that takes you back to the ethos of cryptocurrencies, one that envisions a world free of state-controlled fiat money.

On leadership styles in a COVID world

Kon has been with Utrust since 2018, serving as vice-president for Global Partnerships before becoming the CEO earlier this year. She entered the role when COVID lockdowns were just starting across the globe — a challenging time to take the firm’s reins.

But Kon switched gears to waddle through that. Instead of aggressively pursuing expansion, she led the team to a path of ensuring longevity.

“When you have a crisis, it’s all about survival. Let’s look again at this strategy. Is this the right strategy for us? Moving forward? To not only survive this crisis, but you know, thrive and grow,” Kon told Fazel.

She added the team took the time to reassess market feedback, strategy, and build newer go-to-market plans for Utrust’s enterprise sales and B2B payments divisions.

On the evolution of digital payments

Talking about payments, Fazel recalled, from his time in China, the shifting regime from a cash-based economy to one that was cashless and more electronic. He asked Kon if she felt the ongoing COVID pandemic had accelerated this shift, one that’s being increasingly voiced by governments all around the world.

Kon stated, “People’s perception of cash is changing. They see it as a more dangerous tool to be used. And we’re seeing an acceleration of other payment methods, online payment methods even Commerce is shifting towards more e-commerce, people that never bought anything online are now buying online. So definitely there is a need, uh, for people to have better online payment methods.”

She added:

“It’s not only Asia in countries like Northern countries, Norway, Denmark. I think there is a plan to go completely cashless by 2030. In [just] ten years.”

What next for Utrust?

Kon noted that crypto in its current form is difficult to use for newcomers, especially as it involves long alphanumeric addresses to transfer funds (while ensuring their security) and any lost funds cannot be returned. Kon stated that Utrust is, however, working hard to solve this problem.

So what’s next for Utrust? As per Kon, scalability, partnerships, and building both B2C and B2B platforms that are both easy to access and safe to use by the masses. There are exciting changes coming to the UTK token as well, such as a burn mechanism and an affiliate program for major token holders.

(Wanna know more? Check out the whole 18-minute interview that’s available for streaming in full below!)

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