With cryptos being the buzzword, people are scrambling to gather more information about this niche asset class, But amidst all the uncertainties encircling the cryptos, many corporates and startups have taken a step forward and embraced this new asset class for transactions.
One amongst these is The Rug Republic, an Indias decor brand having presence in over 90 countries and 6 continents has announced that it will accept cryptos from now onwards. The Rug Republic Is the largest collection of Indian handmade rugs and accessories across the world. The Rug Republic is the only Indian floor fashion brand with the global recycled standard certificate. TRR also uses recycled denim, cotton, silk and even plastic bottles to produce its products.
In the face of innumerable concerns pertaining to the absence of regulatory clarity being raised by the experts, Gupta allaying all these doubts said, “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.”
2020 is a year of many changes and is also being dubbed as the breakthrough year for Cryptocurrencies. Amid many startups and corporates accepting this currency, El- Salvador has become the first country to legalize the acceptance of Cryptocurrencies, this has led to a multipronged debate around the cryptocurrency.
Now with the emergence of more and more crypto exchanges around the world investing in cryptos is just a few clicks away. And now acceptance of cryptos by The Rug Republic is a step forward in the positive direction.
Dubbing this as an entrepreneurial duty, Gupta underlined that cryptocurrencies are a more sustainable and advantageous future than Fiat money can even dream of being.
https://www.therugrepublic.
.JPG)
