How Bitcoin is sanctioning the Unbanked but Face Injustice




When people noticed a miserable downfall of established financial models of business, with crypto as the fate, they shift to decentralized peer-to-peer technology.

For example, the unbanked and most of the underbanked in this world do not have clear access to knowledge of finance.

It happens more often, which is kept for people having money and luck. For attaining financial knowledge to have all the required resources, you must be taught by a professional to get the proper path to the necessary information.

The resources come into life and knowledge when the income of an individual increase. So, a question arises here that how can the income of an unbanked be increased to load with more and more knowledge? Most of them are not aware even of BTC (Bitcoin) that what it is. That specific knowledge has not enrolled down from the experts of crypto and finance to the less furnished level of business.

The unbanked folks in our society can be secured from inflation and debt in our wrecked financial system, which is violently not maintaining and is disturbed.

Nowadays, money is created suddenly without inheriting the worth to strengthen the currency in paper form. The media enunciate the defective financial system of our society. But at the same time, it has rejected the particulars that are helping people’s arm to trace the path of the crypto-environment.

Role of Bitcoin:

For making everything right, including the corrupt and unsustainable culture of finance, Bitcoin is the beginning of the map structuring. It is about to present an idea and could be a use case to primarily pass at developing an already broken system. Bitcoin is an area that provides equality to every person for getting opportunities.

As your identity, your wallets are encrypted whenever you are making a transaction with BTC (Bitcoins). On this platform, you are safe, and neither one knows about you nor the money you have. Here, no prejudice, distribution, or negative manner is tolerated. In such a heavenly place of finance, everyone is free of how they look like, what they say and talk, or how they perform.

The idea of finance must be implanted with the concept of how can a small amount of money sum up to give a big amount. Study shows that this concept of finance is seen maintained in the privileged class of society. Many people of the privileged class are already taught for the ways to save, invest, and make money and future.

However, the other people of communities, say the unbanked, claims that they cannot start with thousands of dollars and need a big amount to get started. It means that 40 per cent of people cannot afford the expense of even $400. For example, if the two tiers on the car of these 40 per cent people are burned out, they would either can’t afford the repair or would run out of money to cover the expenses.

As nature adapts and evolves with time, so we should also adapt to every situation. So, what can we do better with Bitcoin as currency in future?

About the author, Awais Rasheed

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