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The banked vs the unbanked. - Episode 4
What is happening?
The banked
Relatively stable currencies and the luxury of access to investments, foreign exchange and bank accounts
Enjoy freedom of speech and no big inflation as well as a balanced right between gender
The unbanked
According to official statistics, there are about 2 billion underbanked households in the world, and the top underbanked countries are China and India
In 2018, workers and refugees sent nearly 700$ billion across borders to their families and paid a total 45$ billion in fees for exchanging and commissions
In Afghanistan and Saudi Arabia, Women are not allowed to open bank accounts
The only private life-line of money (Cash) is disappearing
In modern economies “only” because of convenience
In poor countries because of hyperinflation and worthless papers that are now too heavy to carry
Estimation: currently 8% of cash transactions and by 2030 it should go to near zero
Why is this happening? What are the motivations behind this?
Centralised systems with control under a few people
Human nature: Greed if too much power
Geopolitical reasons to compete with other nations prices
To enrich a few people at the cost of the mass
The speech at the end of this show is a short version from Andreas Antonopoulos' talk titled "universal access to basic finance": https://www.youtube.com/watch?v=Pkgo05Hdnfgandt=7s (https://www.youtube.com/watch?v=Pkgo05Hdnfgandt=7s)
We always appreciate feedback, so feel free to send us an email to [email protected]
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By Ruzbeh K.
5
33 ratings
What is happening?
The banked
Relatively stable currencies and the luxury of access to investments, foreign exchange and bank accounts
Enjoy freedom of speech and no big inflation as well as a balanced right between gender
The unbanked
According to official statistics, there are about 2 billion underbanked households in the world, and the top underbanked countries are China and India
In 2018, workers and refugees sent nearly 700$ billion across borders to their families and paid a total 45$ billion in fees for exchanging and commissions
In Afghanistan and Saudi Arabia, Women are not allowed to open bank accounts
The only private life-line of money (Cash) is disappearing
In modern economies “only” because of convenience
In poor countries because of hyperinflation and worthless papers that are now too heavy to carry
Estimation: currently 8% of cash transactions and by 2030 it should go to near zero
Why is this happening? What are the motivations behind this?
Centralised systems with control under a few people
Human nature: Greed if too much power
Geopolitical reasons to compete with other nations prices
To enrich a few people at the cost of the mass
The speech at the end of this show is a short version from Andreas Antonopoulos' talk titled "universal access to basic finance": https://www.youtube.com/watch?v=Pkgo05Hdnfgandt=7s (https://www.youtube.com/watch?v=Pkgo05Hdnfgandt=7s)
We always appreciate feedback, so feel free to send us an email to [email protected]