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I basically agree. The point I wanted to make isn't that cryptocurrencies is a solution for all, or even most, of the unbanked. But it may be a solution for so
by lawn 7y ago
I basically agree.
The point I wanted to make isn't that cryptocurrencies is a solution for all, or even most, of the unbanked. But it may be a solution for some of them. Most cite no money as the issue, but a whopping 40% didn't. Even if it's only applicable to 1% of all unbanked, that's still 17 million people who might benefit.
> Get them steady reliable cash flow first, and bank accounts or other financial services will follow.
For some, but not all. For instance giving them more money won't necessarily increase their trust in possibly corrupt banks. And it doesn't magically mean they'll get an account since they might still not have the required documentation.
- SkyMarshal 7y ago>For instance giving them more money won't necessarily increase their trust in possibly corrupt banks. Yes, hence why I said “bank accounts or other financial services”. The latter could be either centralized or decentralized. Either way, they still need cash flow/income first.