A company is creating a network of self-service kiosks driven by blockchain, where consumers can pay bills, book airline tickets and make purchases.
“Unbanked” is a slang definition of adults who do not own bank accounts and avoid using banks in any other capacity. The term ‘unbanked’ should not be confused with “underbanked,” which is used to describe people who do not have sufficient access to financial services. The problem of being unbanked is widely researched in the USA, where unbanked people represent 7.7 percent of population. Due to the US’s research, most of the US’s unbanked are white, native-born Americans. They choose to be unbanked for various reasons, including involvement in illegal activities, distrust of financial institutions and extreme poverty. Banking the unbanked is an important issue and can help the poor to gain financial stability. Blockchain-based technologies are often referred to as a way of providing the services of financial institutions to people who don’t want to get involved or can’t be involved in traditional organizations.
- Blockchain Could ‘Jeopardize the Safety’ of Current Financial Marketplace, DTCC Exec
- Greenlight: All Top Cryptos See Gains, Bitcoin Nears $3,300
- Blockchain Payments’ Mass Adoption Is 3-5 Years Away, Says BitPay CEO
- Business Models Should Be ‘Re-Imaged’ for Blockchain, Says Barclays Rep
- Top 5 Crypto Performers Overview: EOS, Binance Coin, TRON, Litecoin, Bitcoin