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I have yet to see any clear explanation for how cryptocurrencies are supposed to solve the problem of people in third-world countries not having access to banki
by danaris 5y ago
I have yet to see any clear explanation for how cryptocurrencies are supposed to solve the problem of people in third-world countries not having access to banking, in practice.
For one thing, it seems to me that step 1 in that is understanding why they are underbanked or unbanked, because if it's because they don't have reliable access to the internet...well, that's going to put a bit of a crimp in any plans to get crypto to them.
- toolz 5y agoThere are many articles describing how crypto can help in this category, from people who lack the proper documentation to open bank accounts to people who live in areas that are too high risk for traditional banks to include them. Lack of stable internet is going to be an issue for many, but that's a problem that is being worked on by many organizations and I presume will be solved in time.