The tenure “financial inclusion” is a new buzzword in a fintech space. With a arise of services like Abra and MPesa, we are assured that bitcoin is a resolution to a problems of a unbanked. With bitcoin, we say, a residence cleaner in Dubai can get her income home and a interloper can get his income over a limit into a safer place.
I’m even famous to wax elegant about a topic. That’s fine. Optimism is a smashing tonic for a soul. But we have entered an burble done of cryptocurrency buzzwords and it’s critical to consider what is going to occur over a subsequent few years. In short, right now a bitcoin infrastructure is deficient to support a unbanked. This contingency and will change.
Before we begin, a bit of disclosure: I’ve been researching this for my on project, Freemit, and I’ve been articulate articulate to startups in this space. There are many incompatible views and we positively wish a unbanked to accept a assistance they deserve. But it’s adult to a whole attention to change a practices to assistance a neediest.
First, let’s plead a unbanked