JAG is nicely located to pursue progressive concepts. Capturing the eye of California tech migrants, Miami is rapidly turning into the subsequent nice tech hub – one thing that Miami mayor Francis Suarez has overtly supported. Late in 2020, Suarez grew to become considerably of a viral sensation on Twitter by way of his efforts to lure Silicon Valley expertise buyers to Miami. Adopting Bitcoin within the South Florida metropolis is a important a part of his plan.
As reported by Bloomberg Quint, Suarez’s efforts to advertise cryptocurrencies embody a proposal to pay municipal staff and acquire taxes and metropolis charges in Bitcoin. The forward-thinking mayor has additionally requested the town to research the feasibility of investing some authorities funds in Bitcoin. It’s all a part of his plan to make Miami a metropolis that “embraces new applied sciences” – which is music to the ears of JAG companions Luis Gazitua, Douglas Jones and Fernando Alvarez.
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“South Florida has change into a brand new epicenter within the tech motion. That’s very thrilling for us. Being younger entrepreneurs, we’re at all times prepared to strive new issues,” stated Gazitua. “So, we began studying about cryptocurrency and the blockchain evolution … and the additional we went into the rabbit gap, the extra we realized the potential on this expertise. Lots of people deal with the cryptocurrency facet, which is an enormous a part of it, however what’s actually fascinating is what blockchain expertise might probably deliver to the trade. We’re excited to speculate on this and actually have a look at the way it might affect the way forward for insurance coverage.”
JAG is investing in new expertise to push the envelope and create an infrastructure that helps development for brand spanking new clients wanting fee in cryptocurrency. Making a bridge between digital currencies and conventional fee choices, JAG will assume the duty of changing cryptocurrency funds and transferring the cash to the insurance coverage carriers.
“We need to present one of the best consumer expertise and provides as a lot flexibility to our purchasers as potential,” Gazitua instructed Insurance coverage Enterprise. “We consider that the adaptability of cryptocurrency is rising and evolving, and we need to be there to supply that service. Nothing adjustments for the insurance coverage carriers by way of how they obtain their premium. What’s altering is the upfront expertise for our purchasers and the way in which we’re accepting their funds. We’re going to take this on a case-by-case foundation, and supply versatile options as we additional evolve our platform.”
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That is very a lot the beginning of JAG’s journey with cryptocurrency and blockchain expertise. For now, the company’s purpose is to be taught extra concerning the digital currencies with a purpose to change into thought-leaders and innovators within the house.
Gazitua commented: “It’s all about schooling. We’re studying concerning the various kinds of cryptocurrencies, which of them have liquidity, and which of them we should always settle for and convert. We do tackle a small threat as an company, however we’re prepared to do this out. Shifting ahead, if a consumer asks us if they’ll pay in cryptocurrency [and our platform supports that currency], the reply goes to be ‘sure’. As soon as extra folks study cryptocurrency and get extra comfy utilizing it, I’ve little doubt it can change into a service provider service for enterprise transactions. The longer term is right here.”