India’s financial innovation and inclusion were praised enough by the Tech pioneer Bill Gates as he was majorly impressed by India’s effectiveness in implementing the open source technologies.
Ambitious platforms have been built for money transfers and reliable identification which incorporate a system for sending rupees between any bank or smartphone app.
Digital payments took over soon after demonetization that took back in 2016 which invalidated the country’s high value bank notes to push people away from cash and to curtail corruption.
The use of United Payment Interface is also required to be used by all the companies so that the payments can be made to avail all the services from Facebook, Paytm, Walmart or any other new upstart.
India’s biometric system Aadhar was also opposed by the Government at first but on the later stage he even embraced it. Gates was quoted as saying” Things are really exploding in India and innovation around the system is phenomenal.” Digital platforms overall such as remote learning and digital finance have been greatly developed. Even though the pandemic has created havoc and has had severe repercussions it has happened to push some of the innovations including the major stress upon the urgent need to develop vaccines to fight the pandemic effectively.
Based upon India’s approach Gates has been working up with other countries to implement open source technology.
Gates also emphasized on the idea of addressing the virus in an unbiased way and that is the reason he had been working with global manufactures, Serum Institute of India to ensure the sufficiency of ample numbers of doses at a reasonable amount. To ensure enough optimism among the people Gated ensured the vaccine being available by the year 2022 but warning against any smugness.