> The "unbanked" concept is also complete BS, in those 3.rd world countries the banking systems and the fintech infrastructure is much more advanced than the on

> The "unbanked" concept is also complete BS, in those 3.rd world countries the banking systems and the fintech infrastructure is much more advanced than the ones in the west. I've always noticed this hole said by cryptobros, and 4/5 of them who says this are Americans who never have interacted even with SEPA or (Canadian) Interac. It seems that this disconnect that "since American banks are already worse imagine what banks these people do have" without realising that the US has one of the worst domestic interbanking systems in developed countries - actually, delete developed as you correctly pointed out that developing countries have way better interbanking systems than the US. (To be fair, some of the hurdles apparently have legal concerns, but most of them can be explained by "(US) banks don't care about new technology".) Edit: I have actually explained years ago why the unbanked are usually unbanked: it's not really solvable by technology. - Wars. Most people in warzones don't want to hold a bank account because it is very unreliable. Cryptocurrency won't solve that problem, in fact it will exacerbate the problem because of your phone or computer is damaged it's game over*. Also, how do you even transact when you don't have any form of communication? - Actually don't have anything to bank on. Their money is just enough to survive, so they can't even bank, regardless of its form. Giving cryptocurrency is often a proposed solution, while forgetting that regular currency works fine too in these situations. - Cultural differences. Most, to be honest, don't want to depart their money to someone they don't know. They were introduced to money just a generation or two ago, so they are relatively new here. Good luck convincing that cryptocurrency is trustworthy in a way that can be easily understand. * I mean you could write them on paper, but that's really stretching it, mainly because you need a computer to execute transactions.