No Poverty | Taxa - Cloud, Payments & Software for Business & Government | Taxa Inc,
End poverty everywhere!
Poverty exists globally. The idea of classism has made it more effective now. If we talk statistics, then
about 8.6% of people around the world spend their life on less than $1.9 per day. A few famous
documentaries can give us a reality check and an idea about how severe the problem of poverty is. Over
the period, rates of poverty have declined. Falling from 36% to 26.2% in 38 years, the world has managed
to accelerate. In 2015, nearly 26.2% of the world's population started spending their lives on less than
$3.20 per day.
It was all going well until the Covid Crises. After 2020, poverty is on the rise again. There has been a
massive effect on the poor people because of job loss, rising prices, lowered remittances, and disturbed
education and healthcare services. After 1988, this was the first time when poverty rates went this high
because of Covid-19. According to the statistics, the World Bank has predicted that after the Covid-19
shock, 40m to 60m people will fall into extreme poverty.
Microfinancing- the way to prosper
A higher standard of living can be indulged with relevant economic transformations. People from the rural
areas moved to the cities and started working in companies started by entrepreneurs. Over the years, the
quality of lifestyle improved.
According to the World Bank, more than 1.7b people do not have access to financial tools such as
banks and loans. Experts say that financial services are important to reduce poverty. Many poor people
have the desire to learn about financial monetary, and so, they should be given opportunities. A lot of
poor people have an idea, but they lack the amount needed to turn their mission into a vision. Telling
them about the financial services can prove to be a great idea in removing the barrier. The exclusive
use of mobile phones among the poor can help in teaching them about phone banking.
Digital Transformation- is it important?
In 2018, about 11.8% of the U.S. population lived below the poverty line. With a minimum hourly wage of
$7.25, a family had to work hard for 40 hours per week to make ends meet. Earnings and spendings of
average workers have been increasing and decreasing over the period. Many employees worry that the
influence of technology is going to create a negative impact on their earnings. According to research,
digital transformation is the next big evolution to displace workers.
On the one hand, digital transformation has the potential to help in achieving a better lifestyle.
Sustaining consumption and production. Equipping people with skills and training them to live a better
life. But, on the other hand, digital transformation is a threat for the employees and workers.
By making a smart decision- we can infuse digital transformation and also end poverty.
Taxa and Poverty
We believe that if used properly, digital transformation can help in overcoming a lot of issues. Through
our platform, relevant digital softwares can be found and used to improve the living pattern and end