Bitcoin: Opening The Door To Financial Inclusion
Set to grow into an economic powerhouse over the next few decades, Africa will benefit greatly from investment into Bitcoin education.This is an opinion editorial by Ray Youssef, CEO of Paxful and cofounder of the Built With Bitcoin Foundation.Global wealth inequality is growing around the world. With inflation, conflict and the pandemic forcing many into extreme poverty, the top 1% are accumulating more power than ever before – capturing nearly 20 times more global wealth than the bottom 50%. And the rise of inflation is adding more fuel to the fire, with U.S. numbers rising to 9.1%.....
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For Kosta Peric, overcoming finance's last mile means looking for ways to do so from the ground up. As deputy director of the Financial Services for the Poor initiative for the Bill & Melinda Gates Foundation, Peric is the forefront of the organization's efforts to build what he calls a digital financial system that, if successful, would connect everyone to financial services. Inclusion isn't simply a matter of opening the door to products such as microloans or insurance policies geared toward low-income families and individuals, he said in a new interview with CoinDesk. Rather, inclusion....
It is not surprising most of the countries seeing success in the financial inclusion department are busy areas for Bitcoin as well. Financial inclusion is not a topic most developing countries in the world can deal with right now. In some regions, very few people have convenient access to a bank account. However, thanks to the boom in mobile smart devices, financial inclusion becomes easier to achieve. In fact, the countries focusing on these efforts are also seeing a significant Bitcoin growth as of late. Financial Inclusion Matters To Many Countries. According to the statistics outlined....
The donation will be used to support fintech solutions that leverage blockchain technology and digital assets to further financial inclusion.
The Financial Stability Board (FSB) says stablecoins have the potential to enhance the efficiency of the provision of financial services. The body adds that the hybrid cryptocurrencies have the potential to bring efficiencies to payments (including cross-border payments) as well as to promote financial inclusion. Yet despite this acknowledgment, the FSB still argues against the widespread adoption of stablecoins claiming they “may generate risks to financial stability, particularly if they are adopted at a significant scale.” The AML/CFT Argument In a report, the FSB says....
It Pays to Hold DOOR once again. Door announces its first rewards program to its referral network of more than 80,000 members. The DOOR team has unrolled one of the most ambitious cryptocurrency campaigns to date in only 30 days since launch. All DOOR Referral Network (DRN) members are granted exclusive access to a 50% […]