How Bitcoin can equalize the gap between the ‘rich’ & the ‘unbanked poor’

Why does one’s country of birth or place of residence play such a large role in their potential economic outcomes in life? Why do fiat-currencies play such a large role in one’s wealth generation possibilities? What about the ‘unbanked poor’?

Access to equal financial possibilities irrespective of geographical origins is something that I am a big champion of. Bitcoin was truly the world’s first global currency, transcending geopolitical boundaries. Since then, there has been a number of altcoins, or cryptocurrencies that may function with Bitcoin-derived properties and parameters, as well as entirely new ones like Ethereum (ETH) and Ripple (XRP). Whatever the cryptocurrency in question is, digital currencies are inherently global currencies, and offer many benefits towards solving economic inequalities found in ‘developed’ and ‘developing’ countries alike.

The ‘Unbanked’

According to many recent statistics, approximately 2 billion people in the world remain unbanked — 2 billion people do not have any form of relationship with a bank and do not hold an active bank account. The hypothesis posed here is that solving the problem of banking the ‘unbanked’ will provide one very important tool towards access to equal possibilities of wealth generation, despite…