“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.
“The Global South is where we should be looking” for Bitcoin adoption, Paxful CEO Ray Youssef told Cointelegraph in an interview at the gym.
We need to move a lot faster on Global South Bitcoin adoption — Paxful CEO
Vietnam has the highest crypto adoption rate in the world. There are numerous factors driving the trend.
Vietnam’s crypto adoption: Factors driving growth in Southeast Asia
How blockchain technology might help developing economies increase financial inclusion — a closer look at financial services in Ghana.
Blockchain for sustainable development: The case of Ghana
El Salvador welcomed 44 central bankers from developing countries around the world to tackle financial inclusion and discuss Bitcoin at a three-day conference. ...
Bitcoin, Bukele and a bevy of central bankers meet in El Salvador
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Bitcoin’s Velvet Revolution: The overthrow of crony capitalism
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The world doesn’t need banks, policymakers or NGOs — It needs DeFi
Crypto’s mainstream acceptance is almost already here, but many people still have unfounded fears we have to overcome.
In defense of crypto: Why digital currencies deserve a better reputation