Blockchain can empower the unbanked and underprivileged from "summary" of Blockchain Revolution by Don Tapscott,Alex Tapscott
Blockchain technology has the potential to bring about significant positive changes for those who are currently excluded from the traditional financial system. By providing a secure and transparent way to store and transfer value, blockchain can empower the unbanked and underprivileged individuals around the world. This technology allows for peer-to-peer transactions without the need for intermediaries, reducing costs and increasing efficiency. As a result, individuals who do not have access to traditional banking services can now participate in the global economy. One of the key advantages of blockchain technology for the unbanked and underprivileged is the ability to create digital identities. Many individuals in developing countries lack formal identification documents, making it difficult for them to access financial services. With blockchain, individuals can create secure digital identities that are stored on the decentralized ledger. This enables them to prove their identity and access services such as ...
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