Big Banks Leave Thousands Unbanked in New York City: Bitcoin Can Help
Millions of people around the world are financially excluded. These individuals, mainly women and poor people, suffer financial exclusion and restricted economic growth. Surprisingly, the financial exclusion of the poor is happening not only in developing countries but in the very financial capital of the world, New York City. Specifically, the New York....
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CoinSource, a bitcoin ATM (BTM) network, announced the first BTM in New York City's Lower East Side at 61 Delancey Street. Located within the N&N Delancey Smoke Shop, the BTM marks CoinSource's second New York City area installation and joins a national network of bitcoin BTMs stretching from San Diego, Calif. to Las Vegas, Nev. to New York City. The machine is made by San Diego, Calif. -based GenesisCoin. It is a one-way ATM, providing bitcoin for cash only. An Ideal ATM Location. "The Lower East Side is one of the trendiest neighborhoods in Manhattan, with hundreds of thousands of....
Uber recently announced customer location data collection for the duration of rides, and New York City has already demanded access to it. According to the ridesharing giant, officials from the New York City government have demanded sensitive customer data. This includes constant geolocation, which the app uses to help drivers and riders find each other without constant call-response communication. This would mean that law enforcement agencies would have the effective use of all Uber users’ whereabouts while using the app. In an email to customers, Uber outlined the threat to privacy....
Mining City’s growth throughout 2020 has been significant. With an easy-to-use website, thousands of community members active all over the world and regular promotions, now is a great time to begin reaping the possibilities that Mining City (www.miningcity.com) has to offer in 2021. What Is Mining City? Mining City is an initiative that unites people through mining cryptocurrency. Using a “mining plan” structure it gives its users the opportunity to obtain hash power needed for mining. This hash power entitles them to a portion of the total mining reward. Put simply, once....
Stellar Development Foundation is a nonprofit organization working on bringing banking and financial services to the unbanked across the world. A simple Google search is enough to know that there are over 2.5 billion unbanked adults across the world. These people don't have access to, or don't use banks or any microfinance institutions to manage their money. Most of the unbanked population are from the developing countries in African, Asian and South American continents. The unbanked population in these regions do not have access financial institutions or services for multiple reasons.....
Last Thursday New York City councilman Mark Levine introduced a bill petitioning for the city to accept bitcoin as payment for fines and fees. Levine opened up about the bill, which he says could be passed as early as June, in a new interview with CoinDesk, indicating that he believes New York City has a pressing incentive to begin accepting the payment method due to its cost advantages when compared to credit cards. The democrat from the 7th District in northern Manhattan recalls that it was this benefit that led him to introduce the bill, one that will now go through a process of....