Developing Nations Will Use Bitcoin Before Us. Here’s Why.
And by the way, it’s already happening.
To paraphrase my mum, we “don’t know we’re born” in the developed world do we?
Apart from all the things we take for granted, such as education, sanitation, healthcare and a whole raft of other benefits, we have a stable financial system.
Well, for now, anyway.
Whilst we all may think about money pretty consistently for one reason or another, we rarely give a thought to our daily interaction with it. Our pay comes in to our bank accounts and we spend it, most commonly in a digital format (i.e. bypassing actual physical cash), using debit cards and tapping mobile phones. We can get credit at any time by using credit cards or going to a lender. Even if we do want cash, it’s readily available and accepted by everyone in our country anywhere, anytime. Oh, the convenience.
Now imagine that you can’t get a bank account. Perhaps there’s just no facilities, or you’re not considered profitable enough for a banking giant to consider you. You are one of the ‘unbanked’.
Now imagine debit cards are not widely available and even if you you were one of the few who had one, vendors are unlikely to accept them due to trust or infrastructure issues. Worse, even your…
