Bitcoin Could benefit The Six Pillars of Underbanked People
Bitcoin and digital currency are often heralded as “the tool to help the underbanked”. And even though there are several companies focusing their efforts on the underbanked, that term is being used quite loosely these days. But who are these underbanked people, and how could Bitcoin improve their daily lives? Let’s find out. When people are talking about....
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How much of an effect does news (both good and bad) truly have on the market? Ask a taxi driver anywhere, from NYC to Kathmandu, what they think about the price of oil, and you're likely to get a comprehensive answer, including an opinion about the Gold price - and perhaps, the Bitcoin market's next rally. Information about commodity prices and their causal relationships is pervasive, and most people have not only an opinion about the market, but a forecast or two depending on the potential economic outcomes they perceive. Several of my colleagues have written articles discussing some of....
Payments giant Visa and financial services provider Tala have partnered to boost cryptocurrency adoption in emerging markets. The collaboration aims to “make it easier for underbanked consumers to convert, store, and use cryptocurrencies.” Visa and Tala Boosting Crypto Adoption in Emerging Markets Visa and Tala have formed a new partnership “to help underbanked populations participate in the crypto economy,” Tala announced Wednesday. Tala is “a financial technology company on a mission to enable and accelerate financial health for all,” its website....
When internet connectivity finally starts to go mainstream in underbanked and unbanked regions, such as Africa, Bitcoin could greatly benefit from that. However, Kenyan government officials are attempting to regulate public Wi-Fi access by requiring users to register with the government. It goes without saying that giving people free access to public WiFi without them providing some form of identification opens the floodgates for illegal and illicit internet activity. Usually, public wi-fi hotspots will require you to enter a mobile phone number or an email address before you can connect....
Banks are expensive and inaccessible for many, especially for the poor. “Not only is banking not for everyone, accounts are inaccessible to about half of the world. People are too poor, live too far from a bank, or don’t have the required documentation,” according to CNN. As a result, billions of people in the world are unbanked or underbanked. As a....
A more inclusive DeFi lending protocol can empower the unbanked and underbanked in ways traditional finance cannot. Crypto has seen a rise in novel uses of liquidity mining and rewards through protocols like Uniswap, Aave and Compound. More recently, a new crop of DeFi 2.0 protocols such as OlympusDAO, Alchemix and Abracadabra are exploring new ways of operating without giving up token rewards. For all the innovations happening with decentralized systems in crypto, they are still failing to open new pathways for economic prosperity for the most marginalized. In its current form, DeFi....